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Monday, August 10, 2009

The Basics of the Forex Market: It All Starts Here

By Britt Mcbride

Almost two trillion dollars is traded daily on the Foreign Exchange Market and is the preferred trading of choice amongst investors.

What is the difference between the Foreign Market and the Stock Market you ask? If you are trading within the stock market, you are trading within your own country.

Our stock market in the United States has set hours of trading and is limited to trading within your own country and currency. The FX market is global which means you can trade with several countries and currencies.

Trading in the stock market limits you to your own country and currency, whereas forex trades are global, meaning selling and trading with many other countries and currencies.

Traders in the FX market look for patterns and trends, or market signals to determine whether the system will make profits, or lose profits.

Experts suggest that a trader must learn to be disciplined and not let their emotions get the best of them in order to ride out the long term and make the profits they hoped for.

Market signals come from charts that have a mathematical formula tied to the prices and times within the trades.

Timing is everything in the forex market and the trader must trade with patience, whether it is traded short term or long term.

A good trader will observe and use one-minute or sixty-minute charts carefully, which are updated constantly, and are a major trading signal for them.

If you would like to try your hand in the foreign exchange market, you will want to observe all the market signals and patterns and trends so you can make the best trading decision and the most profits in this lucrative system. - 23208

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