Tuesday, 15 March 2011

What is Forex

FOREX abbreviation of FOReign EXchange market is the global money trading market, where currency is sold and bought freely. In its present state FOREX was launched in the 1970s, when free balanced currencies were adopted by most countries, and only the participants of the market decide the price of one currency against the other happening from supply and demand.
As far as liberty from any outside control and free competition are concerned, FOREX is a perfect market. It is also the financial market with the maximum liquidity. According to a variety of assessments, the daily income of the market constitutes from 1 to 2 trillion US dollars a day. Transactions are conducted all over the world via internet 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday.
Traders work out their Fibonacci pricing points for each day trading. To learn more about this consideration do research online. The other common Forex indicator is called Bollinger Bands. The prices are high at upper bands and low at lower ones. It is still fairly complex but Forex traders usually use it.
While other traders make complex mathematical examination or guess what to do, you don’t have to be a monetary specialist to trade forex and get success like professionals does!


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