I found this fascinating quote today:
Making Money in the Forex Market and Being in Control of Your Financial Destiny
By Nick Schuster
Making money in the Forex market is not as complicated as it may sound. Anyone can do it. I didn't think I could do it when I first got into it but alas, I sit home all day making profitable trades without having to worry about a boss screaming at me. All it took was the determination and the right guide to get involved and "poof"... magic happened.
Foreign Exchange 101
So what does making money in the Forex market mean? Basically, what happens is that you buy a specific currency at a lower price and then you turn around and sell it when it goes up. I know it sounds easy but you must know what to buy and when to buy sell it. The Forex market is a very large market, much larger than the stock market in the United States. It's relatively boundless and there are no geographic limits to parties involved. It does however close on the weekend. It's basically determined by the first principle of economics, which is supply and demand. When a certain currency's demand goes up, the price skyrockets. In turn, once a certain currency's demand goes down, the price plummets. Making money in the Forex market means being on the right side of each trade.
What Kind of Study Goes into Making Lots of Money?
The professionals that are in the Forex market more than likely are using something called technical analysis. What this means is that they're studying trends and future movements of patterns in currency prices to try to pinpoint and predict a pattern that it will take. The way they are able to use his technical analysis is through some very complex software that tracks all this information to monitors it for them. Many of these high tech software bundles are very expensive but you do not have to wait until you amass enough capital in Forex to think about buying one. There is an automated system that is so advanced and complex, it will be almost impossible not to profit if you use it. The full details about this system is he on the scope of this article, but I do speak extensively on it on my website.
Going at It
Some Forex trading firms will let you do practice trades with fake money before you sign up and begin throwing your real crash in. This is what I recommend you do if you are serious about making money in the Forex market. You need to practice your trades to get the feel of it before you go full fledged.
This article is about Forex basics but you can learn more about a specific Forex systematic method that I personally use to make gains upwards of 300-500% weekly on every trade with very minimal losses in between at my Forex Trading website freely and I recommend stopping by if Forex trading sounds of the slight bit interest to you or if you are serious about making money right from infront of your computer.
Article Source: http://EzineArticles.com/?expert=Nick_Schuster http://EzineArticles.com/?Making-Money-in-the-Forex-Market-and-Being-in-Control-of-Your-Financial-Destiny&id=2000341 |
Brightmark, Freedom with Forex, Oct 2009
You should read the whole article.
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