Here's a great video that has a technical
analysis of how to learn to trade the Forex. This is a long video - over 2hrs - but is a great free video and by the end you'll know more than 80% of traders in the market.
FOREX: Introduction to the Foreign Exchange Market
George Polizogopoulos
Are you researching the topic of Forex and the foreign
exchange market for education? Or are you a trader who is
looking for other markets to play around with? Well hopefully,
we will give you an introduction to the Forex markets that will
accommodate both your needs and inform you of the basic concepts
and issues that intertwine with the world's currency exchange
market. Foreign exchange markets are always in a constant state
of flux, and for the budding forex trader, it can be a rather
daunting place to invest and trade your money, or for the
student it is a rather confusing topic to master. We introduce
you into the world of the foreign exchange market.
The Australian foreign exchange market alone turns over
some $US81 billion daily. And that figure only represents a
fraction of the worldwide forex market. The foreign exchange
rate can be defined as the agreed price of one currency
expressed in terms of another currency. For example, the EURO
and USD (EUR/USD) currency pair can be quoted as "1.2204". This
would mean one EURO can be exchanged for $1.2204 US dollars. On
the other hand, the (mathematical) inverse relationship is that
one US dollar would fetch 0.8194 EURO. As you can see dealing
with the foreign exchange market can get confusing pretty
quickly if not for some simple high school arithmetic: some
fractions and ratios.
Most currencies that trade in the worldwide foreign exchange
market are floated with the exception of some that have a fixed
currency value. Mid 2005 had the Yuan supposedly floated but the
value of the Ren Min Bi (RMB - the other name Chinese currency
is given besides Yuan) is still strictly controlled by the
Chinese government. Trading the foreign exchange market involves
taking advantage of the floating values of currencies worldwide.
The currency floating system is where exchange rates are allowed
to change in price in response to the primary market forces of
supply and demand. There are many things that influence supply
and demand and the value of currencies - too many to describe
here - but a lot of the indicators are tied to the health of the
country's economy.
As these floating currencies fluctuate in the foreign exchange
market fluctuate and change, traders take advantage of the price
differences across the currencies and buy and sell into and out
of trades to make a profit. Again, with the EUR/USD currency
pair: if the value of this figure goes up it can be said that
the EURO has gone up in value against the USD. On the other hand
if the value falls, it can be conversely said that the USD has
grown in strength while the EURO was weaker.
This brings us to the end of our short introduction to the
foreign exchange markets. You may have picked up a few things
(or not) about trading forex. We have covered the basic concepts
of how the foreign exchange rates work, we've touched on why the
value goes up and down and about the floating exchange system.
We talk about the intricacies about forex trading and more
detail into the technicalities of trading the markets at our
website.
Also known as FX, Forex is an abbreviation for the foreign exchange market and is the largest market in the world. A detailed study on the Forex market in 1998 by the International Bank of Settlements (IBS) showed a daily global turnover of $1.4 trillion. This represents an 80 percent increase over daily global turnover in 1992.
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China's central bank said it will allow the nation's biggest companies to enter the foreign exchange market for the first time and provided more details about how it will value the yuan.
China's foreign exchange regulator has approved five Chinese and nine foreign banks to participate in the interbank foreign-exchange forwards market.The announcement late Tuesday follows rules issued by the ...
Additional Sites for Further Reading and
Research:
xe.com - The Universal Currency Converter
Click here. I want to convert. Using live mid-market rates this amount of this type of currency. Currency tool. You can perform interactive foreign exchange rate calculations, using live, up-to-the.
Forex Market, Foreign Exchange Market
Forex Market, Foreign Exchange Market Independent Online FOREX Resources The only independent online Forex resources, this site is not associated with any Forex company or brokers Forex Market.
FX Foreign Exchange Market Research - Forex Capital Management
Offers comprehensive research and authoritative analysis of the market moving factors that impact foreign currency exchange rates. Take advantage of key information developed by a worldwide.
