We are what we think; all that we are, arises with our thoughts; with our thoughts, we make the world.

The Foreign Currency Exchange (or Forex, Spot market, or Cash Market) is a group of over 4500 world banks that are connected electronically.

It is different from the Stock Market because there is no centralized trading place. The Stock market trades $100 billion daily, the US Treasury Bond deals with $300 billion daily, but the Forex deals with $3 TRILLION daily! Because of this, it is much easier to get in and out of a trade.

The Forex open Sunday evening at 7pm EDT and closes Friday evening at 4PM EDT.

There are 3 sessions of trading:

  • Asia 7 PM EDT to 6 AM EDT
  • Europe 2 AM EDT to 11 AM EDT
  • United States 8 AM EDT to 5 PM EDT

To trade the Forex, you need to open an account with a Forex broker, fund the account, then place a trade. This is easy to do if you have Internet access. You will also need charting software so that you can analyze the market.

90% of traders fail, and only 10% of traders succeed. The reason why so many fail, is because they fail to get a good education. They fail to secure a good mentor. I have found some excellent mentors at Market Traders Institute.

They have kept things simple and logical. They have always been available for me to ask questions. When I set up a trade, I can go into a live chat, and ask their opinion. They do live analysis of the market 5 times a day to help me see where the currencies are going and how I should  be trading. They have always been patient with me.

I also have access to other traders that are learning in the MTI chatroom. I have made many friends in the chatroom and we help each other.

Share This:

One Response to What is the forex?

Gold Trading GCC
Gold Trading GCC
2 Great trading tools
Forex Smart Tools
My Amazon store
Click here to view some amazing books and videos on Amazon.

This selection was handpicked by me.
Checkout another website
www.SafeJokes.com
This FREE website contains clean, safe jokes to get you laughing.