"How To" Start Trading The Forex Market? (Part 2)

Why is FOREX trading so popular?

Because you can trade from anywhere. From your kitchen table, bedroom, garage or from the nearest Starbucks coffeehouse ( most of them have wireless Internet connection).

If you have or like to travel, take your laptop with you and you can trade the FOREX anywhere in the world where you have an Internet connection.

When you want to start trading the Forex Market nobody is asking you for a diploma, a formal license or a proof of how many hours you have spent studying the Foreign Exchange Market and/or Banking Industry.

FOREX Trading is Economical and Start-up Costs are Low!

You can open an account to trade Forex with as little as US$ 200 at he most brokerage firms.

I personally do recommend Fenix Capital Management, LLC, which offers a state of art Trading platform, that allows you to place orders directly by clicking on the chart.

The Main Benefits of Trading the FX Spot Market are:

YOU don't pay commissions or fees!

YOU can trade 24-hours a day !

YOU can trade up to 400:1 Leverage !

YOU can have FREE Streaming executable Price quotes and live charts!

It is important to know the differences between cash FOREX (SPOT FX) and currency futures.

In currency futures, the contract size is predetermined.

With FOREX (SPOT FX), you may trade electronically any desired amount, up to $10 Million USD.

The futures market closes at the end of the business day (similar to the stock market).If important data is released overseas while the U.S. futures markets is closed, the next day's opening might sustain large gaps with potential for large losses if thedirection of the move is against your position.

The Spot FOREX market runs continuously on a 24-hour basis from 7:00 am New Zealand time Monday morning to 5:00 pm New York Time Friday evening.

Dealers in every major FX trading center (Sydney, Tokyo, Hong Kong/Singapore, London, Geneva and New York/Toronto) ensure a smooth transaction as liquidity migrates from one time zone to the next.

Furthermore, currency futures trade in non-USD denominated currency amounts only, whereas in spot FOREX, an investor can trade in almost any currency denomination, or in the more conventionally quoted USD amounts.

The currency futures pit, even during Regular IMM (International Money Market) hours suffers from sporadic lulls in liquidity and constant price gaps.

The spot FOREX market offers constant liquidity and market depth much more consistently than Futures.

With IMM futures one is limited in the currency pairs he can trade. Most currency futures are traded only versus the USD.

With spot FOREX, you may trade foreign currencies vs. USD or vs. each other on a 'cross' basis, for example: EUR/JPY, GBP/JPY, CHF/JPY, EUR/GBP and AUD/NZD

More and more well informed investor and entrepreneurs are diversifying their traditional investments like stocks, bonds & commodities with foreign currency because of the following reasons: (will be continued)

RISK WARNING:

Risks of currency trading: Margined currency trading is an extremely risky form of investment and is only suitable for individuals and institutions capable of handling the potential losses it entails. An account with an broker allows you to trade foreign currencies on a highly leveraged basis (up to about 400 times your account equity). The funds in an account that is trading at maximum leverage may be completely lost if the position(s) held in the account experiences even a one percent swing in value, given the possibility of losing one's entire investment. Speculation in the foreign exchange market should only be conducted with risk capital funds that, if lost, will not significantly affect the investors financial well-being.

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About Martin Maier

Veteran Trader Martin Maier Founder of Fenix Capital Management, LLC http://www.fenixcapitalmanagement.com. He is the developer of various futures and commodities trading programs and his systems have been ranked and rated by various large American Investment Profile Rating Companies such as STAR and MAR


And here is another random article you might be interested in...

The 3 Biggest Priority Busters

As a professional organizer and trainer, I have come to recognize that unless there is a focused effort to keep vigilance over priority busters, our best time management efforts will go unrealized. Our day-to-day lives demand more to resolving this than just practicing better time management principles.

The cost of a minute

Jim Miller of U.S. West tells us we experience eight interruptions an hour. American Demographics magazine says us we receive 23 paper and electronic messages an hourâ€"each one its own type of interruption. Regardless of the type or number, remember that every time someone stands at the door and asks if you've 'got a minute?' they invite you to climb out of your priority and into theirs. Politely moving them to an alternative time enables you to remain focused on your priorities.

'Yes' is an acceptable word

Learning to say no and meaning it is difficult. Let's face it...no can sound like 'yes' and no and sound like 'maybe'. Saying it to supervisors or customers comes with its own cautionary reminder. But identifying and being committed to your priorities is what keeps us focused on when and if we should be saying 'yes'.

Fight against procrastination

A difficult habit to break. When delaying decisions is how we handle matters, we permeate our time management practices with ineffective and frustrating scenarios. Not only for ourselves, but for others as well. Making decisions to move things forward is the only way to fight procrastination. One mindful step at a time.

Today's business climate creates pressure to produce more work...with fewer people...sooner...for less money. It demands more of us. But there's major productivity gains to be realized by proactively handling interruptions, keeping commitments tethered to priorities and actively making decisions. That is when we will realize productivity gains and less stress as individuals and as an organization.

There are only 24 hours a day. It's how you use them that determines your level of satisfaction with work and life.

Copyright 2001 Cynthia Kyriazis. All rights reserved.

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About Cynthia Kyriazis

Cynthia Kyriazis is an organizing and time management consultant, trainer, speaker, coach and author with over 20 years management experience in multi-unit corporations. Organize it, a division of Productivity Partners, Inc. is an organizational training firm she founded in 1995 and has been serving Fortune 500 clients ever since. Cynthia works with business and their employees to help improve performance and realize productivity gains.

Cynthia has appeared in the Philadelphia Inquirer, Kansas City Star and the Legal Intelligencer. She currently serves as Secretary on the Board of Directors for the National Association of Professional Organizers (NAPO), member of the National Speakers Association (NSA), member of the Kansas City of the International Society for Performance Improvement  (ISPI-KC) and consultant to the American Coaching Association.

cynthia@organizeitnow.com