TOP STORIES
MARKET NEWS
:: DSRTradeFX Forum -
Remember to check out the Forum. You will find strategies, resources and like-minded investors. The forum features a chat function, so you can interact with others on the message board! Register and post for a chance to win $50!
:: CURRENCY CORRELATIONS- Click Here to see how currencies trade in relation to one another. This is awesome! Provided by Mataf Forex Trading.
Easy Forex Daily Outlook Come back every day for an updated market outlook provided by Easy Forex.com.
FOREX BASICS
What is the Forex?
FOREX stands for foreign exchange. If you have ever travelled outside of your country, chances are likely that you had to exchange the money you had in your wallet or purse for the currrency of the nation you are visiting. There is a rate of exchange and you will either get more or less of the nation's currency for the equivalent of your country's currency. Many people do not realize that this rate changes, not just daily, but minute-to-minute and second-by-second. When trading forex, we are trying to capitalize on the rate fluctuations of currencies.
In years past, in order to capitalize on forex rate changes, you had to be a large institution with large amounts of capital. Over the years, this have changed and evolved. With the advent of the internet, regular everyday people like us, have gained the power to access enormous amounts of information. With the advances made in computer technology, we are also able to harness this information and use it. So, in effect a largely inaccessible industry has become accessible to the public.
The forex market trades over $2trillion per day! It also trades 24 hours per day, 5.5. days a week. When we say this is a global opportunity, we mean global! You can trade in the Americas, Europe, Asia, Antartica, Indonesia, and the list goes on. If you have internet connectivity and an account, you have access. This immediately brings about visions of being on a beach in the south of France, laptop in one hand, nice cool drink in the other... But wait before you book your flight. You need to learn the industry and practice before you get started making real money.
Many brokers (the companies that provide the software, hardware etc), have demo trading platforms. You can "paper-trade" in real-time, honing your skills. Then when it is time for you to move to live trading, your broker will be happy to help you.
So what should you know? Well, if you have traded stocks before, you have some knowledge already. If you haven't traded stocks before, you will want to take a class to get familiar with the terms and other pieces of the puzzle. You will need to know about:
- Currency Pairs
- Leverage and Money Management
- Long/short trades
- Charting softwares
- Forex trading is risky
Why not contact DSRTradeFX about a class to get you up to speed.
Do individuals really make money with Forex?
Certainly! Yet, the vast majority of individual traders are not as successful as they could be. Trading forex takes discipline, good judgement, and the ability to take a loss without emotional attachment. People in general are very attached to their money, so they trade with am emotional block that prevents them from achieving their full potential. If you can harnass your fears and excersize discipline, you will be successful.
DSRTradeFx can teach you the things you need to know to make money consistently with forex. We encourage you to put your goals on paper first. What is it you wish to achieve? A new home, college money for your children, a vacation, independence... You can have all these things if you are diligent and take the time to get educated.
DSRTradeFX is a great place to come to get market information to help you be successful . Our goal is to help you trade better, learn strategies and communicate with individuals on the same journey. Come back oftern as we grow!
CURRENCY QUOTES