What is Forex trading?

Forex (Foreign Exchange) is the name given to the direct access trading of foreign currencies. With an average daily volume of $1.4 trillion, Forex is 46 times larger than all the futures markets combined and, for that reason, is the world's most liquid market.

Forex trading

In the past, forex trading was limited largely to enormous money center banks and other institutional traders. But in just the past few years, technological innovations and the development of online trading platforms allow small traders to take advantage of the significant benefits of trading foreign currencies with forex.

In contrast to the world's stock markets, foreign exchange is traded without the constraints of a central physical exchange. Transactions are instead conducted via telephone or online. With this transaction structure as its foundation, the Foreign Exchange Market has become by far the largest marketplace in the world.

(Additional infomation – I thinks most of the forex trader won't know what is HYIP, I searched on yahoo, It define as a pyramid money games, 100% cheat people money, please dont trust)

Any questions about the forex : come http://www.fxground.com/forum

Hello,

Finaly found someone who is also interested in mannaged forex accounts.
My advice to you is yes yes!
If you find a good one you'll earn lots of money.
This is what I have done:

http://my-robottrader.blogspot.com/

These are the results made by my moneymannager in one month and a half.
It's going great because they are verry experienced in what they are doing.
The support is also great if I ask them a question I almost immediatly get one back.
I find that verry important, because I want to know what is happening to my money.
Annyway About the acounts itselfs I can't give you good information…
For this you have to contact my money mannager.
If you want I'll bring you in direct contact with him..
Just send me a mail (adress on my blog) and I'll give you his Adress.
.

I have seen many ads on the internet that say something like this:

We are offering you, 2 of our best sellers Expert Advisors, select 2 from the next list:

SAFE NEWS EA or

CORRELATION HEDGE EA or

TRADE THE CABLE EA

I want to kow what this is talking about, and what a forex expert advisor is?

Thanks.

First of all Bob needs to get his facts straight. Forex is NOT a futures market. Because it's highly leveraged like futures doesn't mean it's futures. Forex is the currency markets, where you trade a currency pair like the EUR/USD or USD/JPY.

Is it risky? Yes. But so is driving. How many people get killed on American Highways everyday? Does that mean you should not drive? If you drive safely, defensively, and watch your speed, etc., then you greatly increase the chances of getting to your destination safely. Same thing with trading.

It kills me when these people make general comments like that. Everything has an element of risk to it, but it doesn't mean you shouldn't do it.

And FX used to be for the big boys only. Prior to the early 90's if you wanted to trade FX, you needed a net worth of at least $10 million and an account minimum of $1 million. But, today you can open an account with as little as $100. Other things like stocks, options, futures, etc. you need to have at least $5,000 to open an account.

Now to answer your question an Expert Advisor is basically an automated trading robot. It's just a system that's automated and will trade your account for you.

Hope this helps.

From the link below:
PRO: Currencies trade 90% true to the charts. So if your charts are saying the EUR/USD is going up, then you have a 90% chance of making money on a long position and the vice versa on a short position
CON: There is no telling when the other 10% of the time is going to rear its head.

PRO: This market reacts sharply and immediately to news. Do your due diligence on upcoming economic news events and you stand a better chance of being on the right side of the market when the news breaks.
CON: On days with economic news the market swings can only be described as violent. A position can gain or loose 30 to 150 pips in a matter of two to three seconds. Either do your homework or stay offline

PRO: We do provide a calendar for economic news events that enable you to get a head start on what's upcoming.
CON: As we have all seen in the past, there is no way to tell when exactly the winds of change will blow. A change in political climate and or terrorist activity can dramatically change the price of any given currency at any time.

PRO: A number of different stop loss tools enable you to determine what your willing to loose and how much you want to make, prior to taking a position
CON: All to often, traders say "I want to make as much as possible and I won't loose a penny", and they trade without using stops. Just remember "Pigs get fat and Hogs get slaughtered". Your Forex trading platform is not a slot machine. Luck is not a factor in being a successful trader.

PRO: Some offer commission free trading, which means there is no cost associated with taking a position
CON: There is no such thing as commission free trading. You can rest assured that those that do offer it are manipulating the spreads. That being the case, you are loosing way more than ten dollars for every lot of currency you trade

PRO: You can trade currencies online from the comfort of your home or office virtually anytime of day.
CON: As a forex trader you are, soley, assuring that your hardware and internet connection is sound. Hardware failures and internet outages are your responsibility. In other words, trading with a dial up connection and a pc made in 1995 is not only foolish, but your problem alone.

Please can anyone tell me how to start trading Forex, and if it's possible to stsrt with a little amount. Would also like to know about trading from my home (I live in Africa). Will be glad to receive any answer.

hi, here have some forex education websites, all free

http://www.babypips.com

http://www.strategybuilderfx.com

http://www.forexfactory.com

http://www.fxground.com