If you’re new to the Forex market you may be asking what is it? and what measures are needed to perform for a Forex trading day. You may also be wondering if the trading is an effort and if it really worth it or whether to seek other ways to make money. This article will give some background on industry-related major currencies, so you can determine if you should try it.
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Unlike the localized markets where trading takes place in areas at specific times and according to a particular national calendar change operations can be done throughout the day, 24 now, which means you will have many opportunities for trade in their free time at any time. Forex day trading is a full 24 hour week, the currency starts at 5:00 pm EST Sunday and ends Friday at 04:00 pm EST. As such, you will have the opportunity to design a trading strategy that best fits your lifestyle.
High liquidity and daily turnover
The Forex market is highly liquid which essentially means their currency transactions will be supported because there are a large number of participants in transaction. The daily turnover of foreign exchange transactions is much higher than those from other markets. For example, the bag has a daily turnover of only $ 25 million, while the forex market takes place around $ 3 billion in daily operations.
The importance of transparency
As the foreign exchange market is fully transparent, to conduct negotiations under exactly the same level as large institutions such as hedge funds and banks. Moreover, because the forex market is very large, one can manipulate their numbers. Therefore, you can approach each day exchange operations with the confidence that it will undergo major adjustments sudden.
You should also realize that the major currencies that are exchanged during each trading day forex account for about 85% of its volume. They are the U.S. dollar, Euro, British Pound, Swiss Franc, Canadian dollar, Australian dollar and Japanese yen. However, you do not live in a country with one of these coins to have an experience of profitable Forex trading. Instead, you just have to learn to control these currencies during the day shift operations.
Relationship with other markets
Although the currency is independent of all other markets, is found to have relations with them, which can be an advantage if you are familiar with other markets. For example, the currency is strongly correlated with the stock market. For example, if the Dow rises in value, then, will the higher-yielding currencies like the Euro and British Pound. In contrast, the coins have low yields will fall in value.
Fees and Charges
We will not charge any commission directly by the foreign exchange market. However, you will accumulate the costs of spreads and rollover rates, etc. For example, you will win or be charged a fee to maintain your open positions one-day shift operations to another based on comparable interest rates currencies involved.