Tips to Get Started in Forex Trading - Make Money Fast

Hi, My name is Rian. Let me share forex article for today :)
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Forex Trading refers to the foreign exchange market. The history of Foreign Exchange starts when the Bretton Woods System came to an end in 1976 and the floating exchange rate appeared globally. Forex is a market for the purchase and sale of the currencies, but there is no central place for dealings.

The stakeholders of the Forex include the individual trader, the broker, a firm or a financial institution. The trade carries on 24 hours a day and closes on weekends. The determination of one currency in terms of another is done in the Forex Market. The basic motive of this trading system is to make the worldwide trade easy and providing an opportunity to the business concerns to exchange one currency with the other.

Forex has facilitated the act of speculation as well. Hence, the agreement of currency trade is made in anticipation looking at the market condition. It is very beneficial with respect to many aspects, e.g. there is no restricted boundary for trading activities. If you have internet, you can do this business sitting at home. The initial investment is minimal and size of the business can be expanded after getting success.

Let us check how much is the percentage of the currencies used in the Forex market? The topmost currency is USD and contributes 85 percent overall in the Forex Trade. Next stable currency is Euro (European
Currency) with 40 percent use in exchange. All other currencies have a low percentage as compared to

these two.

Forex Trading depends upon many factors, e.g. economic condition, political stability, market strategies, Forex Trading Software, etc. There are several automated Forex Trading Software available over the internet that give you a detailed view of the Forex market 24 hours a day and get you aware of the latest news for example, the value of which currency has increased, the value of which currency has fallen, etc.

The most common methods used in Forex Trading are Indicator Based Trading System, Robotic Trade, Scalping and Price Action Based Directional Trade. The best Forex Trading platform contains statistical analysis of daily exchange, charts, news, plans and complete guideline. It suggests you that you should carry on or stop trading at a particular time. However, it is equally important to keep in mind that some online programs are based on fraud. You must check the working of the robot programs and do not trust them blindly because a machine is, after all, dependent upon the human.

By : Jeanette J