Forex Trading

The Foreign Exchange market, also referred to as the "Forex" or “FX,” is the largest financial market in the world, with a substantial volume turnover of about $2 trillion a day. Compare that to the $25 billion daily volume trade at the New York Stock Exchange, one can easily imagine how enormous the forex market really is. In fact, the FX market is so huge, it actually equates to more than three times the total amount of the global stocks and futures markets combined!

Until the late 1990's, to be able to trade with the forex market, one needs to have at least ten to fifty million US dollars. With the advent of high-speed internet connection, so does the proliferation of online forex trading firms. Thus, it has made online forex trading become very accessible. And because the cost of transactions is low and there are no commissions, anyone can get involved in this great opportunity to make money.

"Money begets money," as the old adage goes. But in-depth knowledge about how forex market works is a must too! A mistake I personally made - went into live trading with limited knowledge - that eventually cost me some good hard earned money!

Forex Trading Made Easy, or so I thought, is a blogspot I started at the beginning of the year. About the same time when I learned about the potential of making big money by trading forex online. After suffering a huge loss, with the China market meltdown sometime Feb-Mar, my portfolio was almost wiped out. Lost 75% of my principal. Still I persisted, and traded a bit more carefully, as I scrambled to learn the tricks of the trade more religiously.

On April, I met a friend who's into forex trading too. He's way too conservative and patient in trading - virtues I realized is actually an advantage. He is using the hedging technique and the inverse hedge trading. The former being commercially available. The same trading techniques I tried to use myself, but somehow, I can't seem to get the correct timing in entering and exiting the market. Maybe patience is something I need to master.

So, with whatever funds that is left of me, I "teamed up" with him, nay, I virtually ask him to trade for me. So far, so good. From April to September this year, I have recovered about 20% back. I plan to actively continue in posting at forex blogspot pretty soon.

You'll find some useful online resources, like Babypips.com - a comprehensive site that teaches forex trading basics; Forex Market Hours - real time guide of which forex market is open/close relative to your local time; RealTime Forex News, and Forex News Commentary -
up to the minute forex news and commentary, reported when it happens, as it happens.

You can even get a one-time free $5 to trade live at Marketiva. But personally, I am trading using the platform of InterbankFX. I have also posted a lot of useful links to forums which actively shares and discusses their own experiences - mostly for free.

As forex trading is likened to gambling, whatever happens, always remember to play only with money you can afford to lose, and learn to cash out while ahead!