Who Else Wants To Learn The Secrets Of The “Big Boys” Trading Over $1 Trillion Dollars A Day?
The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world. The daily average turnover is well over US$1 trillion -- 30 times larger than the combined volume of all U.S. equity markets.
A "Foreign Exchange" transaction involves the simultaneous buying of one currency and selling of another. Currencies are always traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
Why buy and sell currencies? There are two reasons. About 5% of daily turnover represents companies and governments buying or selling products and services in a foreign country or converting profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation.
For speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.
Trade Your Way To Wealth is negotiating with several top-rated Forex traders to provide content and educational services to the site. Be sure to revisit this page of the site often to check on our progress!
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