What is FOREX ?! Forex is the largest and the most fluent financial market in the world. People can buy and sell there currencies (like EUR/USD or GBP/JPY). If You wan't to check how does it work You can open demo account and trade there for virtual money.

Characteristics Foreign exchange is an 'over the counter' /OTC/ market - transactions are realized by both sides via phone or electronic systems - there is no central exchange and clearing house where orders are matched. Foreign exchange market is open 24-hours a day from monday to friday - You needn't worry You won't have enought time for trading.

Participants There are four main groups of foreign exchange market participiants: hedgers : Hedgers are individuals and firms that are trading in the foreign exchange market only to protect themselves against the risk of an unfavorable quote change in the interim. speculators : The largest group of participants on forex market. They are trying to earn on short or long term quotation swings. arbitragers : This group contain investors with huge amount of capital who earn on small differences in rate of exchange on two different "markets". market makers : The forex market makers are banks or brokerage companies that keep the market running. When one wants to trade on foreign exchange market one should open an account in one of market makers services.

Technical analysis Forex traders uses many indicators, averages, price figures and other tools from technical analysis for determining wheter to buy or sell currencies. Looking for past performance is most popular way to decide what trade will be the best. Technical analysis knowledge is very useful - the first step to efective currency trading should be getting know technical analysis!

Day trading Low spreads and high volatility causes that very popular way of trading on Forex is daytrading. Every each day on foreign exchange market there are many occasions to get some pips on short term trades. Many traders do only trades witch duration is shorter than few hours.

Financial news Financial news strongly impacts on currency prices. Good trader should often check in economic calendar whether in nearest future there are any occurences, which can have influence for results of his trading strategy. Many traders look through economic calendar and trade using strategies based on effects of publicizing financial news.

Good Luck !!! So if You want to try yourself on Forex just create demo account, get some technical analysis knowlegde and just start trading! Don't forget to check nearest financial news in economic calendar. Try to build your own trading system - it can be long-term or short-term system - everything is up to You! Don't give up early - don't lose Your chance! Good Luck !!!

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