Publisher's Synopsis
You may have asked yourself why you are getting interested in the Forex market, what attracts you that much and why you have decided to start trading.You may have asked yourself why you are getting interested in the Forex market, what attracts you that much and why you have decided to start trading.You may have asked yourself why you are getting interested in the Forex market, what attracts you that much and why you have decided to start trading.Actually, there may be many reasons, but let us note that the most important one is the FINANCIAL INDEPENDENCE.The reason of the growing interest is the financial independence, which is possible to gain through going deep into Forex and trading wisely.Either you are a doctor, teacher, manager or a journalist, still you may be involved in this limitless market.Here you do not have to deal with any boss and bare someone's appeal or anger; you are accountable only to your personality and thus are free to make your own decisions.The foreign exchange market, or more commonly known as forex or FX, is famous for being one of the most exciting markets that exists to this day and age.The forex market is the "place" where currencies are being traded.Price of currencies fluctuate time to time, and that create opportunities to traders to make money. Before now, the currency market was only made up of large financial institutions, corporations, central banks, hedge funds, and individuals who have more than enough wealth to sustain them.But ever since the emergence of the internet, the markets have begun to change. Now, even the average investors are capable of buying and selling currencies easily with a mere click of a button on their phones or laptop.The forex market's extreme liquidity and the availability of high leverage urged the market's rapid growth and have turned it into the ideal place for a lot of traders.This means, You can also choose to open and close your position within minutes or you can keep it open for months.It's not easy to manipulate the value of the currencies seeing as it greatly reliant on objective considerations of supply and demandAdditionally, the size of the market also acts as an obstacle, making it impossible even for the large players such as the central bank to manipulate the currency prices.In the forex market, the daily currency fluctuations are usually very small with most currency pairs moving less than one cent per day. This makes foreign exchange one of the least volatile existing financial markets.With this, many currency speculators depend on the availability of enormous leverage in order to increase the value of any potential movements.ScalpingScalping is the most short-term form of trading. Scalp traders only hold positions open for seconds or minutes at most. These short-lived trades target small intraday price movements. The purpose is to make lots of quick trades with smaller profit gains, but let profits accumulate throughout the day due to the sheer number of trades being executed in each trading session.Day tradingFor those that are not comfortable with the intensity of scalp trading, but still don't wish to hold positions overnight, day trading may suit. day (unlike swing and position traders), Day traders enter and exit their positions on the same overnight moves. At the end of the day, they close their position with either a profit or a loss. Swing tradingUnlike day traders who hold positions for less than one day, swing traders typically hold positions for several days, although sometimes as long as a few weeks. Because positions are held over a period of time, to capture short-term market moves, traders do not need to sit constantly monitoring the charts and their trades throughout the day.This makes it a popular trading style for those who have other commitments (such as a full-time job) and would like to trade in their leisure time.
