The foreign exchange or "Forex" (also called the spot market) is the leading market on the planet with an average of $3 trillion traded every single day. That's about 100 times of the $25 billion of the NYSE and more than every single asset class pooled (i.e. more than the bond, stock, equity markets together!).
The Forex billionaire players
George Soros gained international notoriety when, in September of 1992, he toke a chance of losing $10 billion on a single currency speculation when he shorted the British pound. He turned out to be accurate, and in a single day the trade produced a profit of $1 billion - at last, it was articled that his profit on the transaction nearly Stretched to $2 billion. As a result, he is well-known as the "the man who broke the Bank of England.
Warren Buffett is active in Forex market trading and has been for numerous years, in the 3rd quarter Of 2004, Buffett posted profits of $412 million from Forex.
Bill Gates may have been following his friend Warren Buffett's recommendations on how to trade his Forex investments..Bill Gates was 2006's.world's richest man.
How to trade in the Forex market
The basic notion to understand in knowing how to trade Forex is that there are always two currencies in every pair, a BASE and a TERMS. The BASE is forever the first currency in the pair and is always equal to 1. The succeeding currency in the pair is the TERMS and this declares to you how much currency you could get for 1 unit of the BASE currency. For instance, if EUR/USD is trading at 1.4840, it means 1 Euro is worth 1.4840 US Dollars. When the exchange rate climbs, the 'terms currency' is weakening against the base, and the base is obviously increasing against the terms. Currency trading is the simultaneous buying of one currency and selling of the other.
In Forex you can literally create millions for yourself, if you use right practiced trading strategies. This marketplace has both the leverage and the accuracy to transform your trading career. Forex markets are absolutely liquid because there is a participation of banks and corporations, hence the enormous size of the market. For thisSense alone, Forex is the self-selected marketplace of choice of the Millionaire trader, due to its speed, efficiency, precision and clarity of signal.
Here are the 3 key motivations why you should do it too:
1. You only Require a laptop, internet connection, some reasonably inexpensive software and professional training to get going.
2. You can trade from almost anywhere in the world at any time that suits you.
3. You can regulate the risk on any trade of your account balance and leverage the upside for fantastic profit potential.
4. You can simply start trading with a small amount of $150.
5. And ultimately to stress the importance that you need to be trained how to trade first before you get down to it.
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