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Mar 16

FX Trading Guide To Trading Forex for New Traders

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LONDON, March 15, 2012 /PRNewswire/ --

FX trading is the act of simultaneously buying one currency while selling another for the purpose of speculation. This over-the-counter (OTC) market, commonly referred to as foreign exchange, forex or simply FX, sees traders exchange one currency for another at an agreed exchange price.

Forex is one of the world's most traded markets, with an average turnover in excess of US$4 trillion daily, which when compared to the New York Stock Exchange - whose turnover is around US$50 billion daily - you can see how popular this particular market is.

In addition, it is one of the most liquid. As a result, forex market spreads tend to stay tight throughout most of the day, leaving traders safely in the knowledge that positions and orders can always be executed.

This is one of numerous reasons why new traders are attracted to trading forex. In the guide below, we look at other key features which traders, new and experienced, benefit from.

Trade FX 24-Hours a Day

With the ability to trade forex 24-hours a day, the forex markets are popular with an array of traders, offering them the exposure they so desire.

Trading from Sunday evening through to Friday night, trading follows the clock; opening on Monday morning in Wellington, New Zealand; progressing to Asia - spearheaded out of Singapore and Tokyo, before moving to London coming to a close New York on Friday night.

Another attraction is that traders find the possibility of market gapping - when a market jumps from one level to the next without trading in between - is lessened.

Forex Leverage

Excerpt from:
FX Trading Guide To Trading Forex for New Traders

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