Sunday, March 18, 2007
Any experiences with Tiens and Forex trading? -
Forex trading, or foreign currency market trading, is definitely an exciting prospect. From all the research I ve done, the potential to make large amounts of money is definitely there, but there s also a huge potential for loss if you re not careful. I d say study up and hit a practice simulation website before going in for the real deal. I did most of my research on sites like www.forex-potential.com - there was a short article on there with an overview of the whole Forex trading idea, and on the links I found a simulation site that let me do some practice trading. Pretty soon I m hoping to move up to real currency trading and start making some money. =) Forex trading works sorta like this (mind you this is a simplified version) - you re trading just like you would with a normal commodity, but it s currency values. And you don t just trade against the commodity going up or down - they work in pairs. For instance, if you were shorting the American dollar (expecting it to go down in value), you re not just saying the dollar will go down from where it is - it might be paired with the Euro. In that case, you shortsell it against the Euro - if it goes down while the Euro stays the same or goes up, you make a profit. Conversely, if you buy quot;stockquot; in the American dollar to go up, you re bidding on the dollar to go up or stay stable while the Euro stays the same or goes down, respectively. I hope this has given you some idea of what Forex trading is. Read that article I linked before and try to find a broker with a simulation web site that you re comfortable with. Once you do well in the simulation, you ll know the broker s interface and it will make the transition into actual trading much smoother. Good luck! Forex trading-http://tradingsforex.info/
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