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The foreign exchange market, also defined as currency market or forex or FX is the biggest and concurrently the only market without any premise, standing floor or headquarter; there is no central exchange, or clearing house.Its daily turnover is much more than 3 trillion dollars, made by transactions between large banks, central banks, currency speculators, multinational corporations, governments. If we combined daily turnovers of all equity stock exchanges on the whole world, we would have to multiply them by more than 10 in order to amount to forex volume. The Foreign Exchange market ("Forex"), is the largest financial market in the world, the daily average turnover of which reaches US$1.2 trillion. The main essence of Foreign Exchange is the simultaneous buying of one currency and selling of another (world's currencies are on a floating exchange rate and are always traded in pairs, e.g. Euro/Dollar or Dollar/Yen). FX Trading is not centralized on an exchange, as with the stock and future markets. On the contrary, Forex market is considered an Over the Counter (OTC) or 'Interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Historically, Forex has been mainly dominated by banks, including central banks, commercial banks, and investment banks. However, the percentage of other market participants is rapidly growing, and now includes large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and private speculators. One of the main advantages of Forex is that it is a true 24-hour market that begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night. For example, if you buy the shares of company XYZ at N10 per share and the share appreciates to N15 and you sell it, you will make N5 of each share bought with the company shares exchange rate. Same vein, if you buy USD$ at N120 and $ appreciates to N125, and you sell, you will make N5 of each $ you bought, but unlike stocks, interest exchange rate can appreciate within 1 minute of purchase. Traders can reduce their risks in forex trading by implementing forex buy and sell signal generator softwares. These tools require minimum human interaction and thus allow pragmatic decision making. This reduces the chances for financial loss and enable better forecasting patterns. For the institutional investor, absolute consistency is not a problem, since they have an array of personnel and resources at their disposal. For individual investors, there are three groups. Those who trade without consistency, those who trade with manual consistency, and those who trade with automated consistency. The novice, of course, is the trader who thrashes from trade to trade. The individual investor who uses consistent discipline or automation as the foundation of his trading activity maximizes his level of sophistication. Successful trading in forex demands being a sophisticated investor, who would be operating with awareness of their environment, and that awareness informs their trading plan. Learning ForexKillerOnline.com provides advice on everything from automated currency trading to implementing effective forex trading tools and strategies. Article Tags: Foreign Exchange, Exchange Rate
Get,Your,Forex,Right,The,forei