Can You Trade Forex Successfully?

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Number of messages in the thread: 1

1. Date: 2008-07-01 13:25:49
Subject: Can You Trade Forex Successfully?
From: "i...@x...ws" <i...@x...ws> Search message by this author

Can You Trade Forex Successfully?
Yes You Can!
There are many benefits and advantages to trading Forex.
Here are just a few reasons why so many people are choosing this
market:
No commissions. No clearing fees, no exchange fees, no government
fees, no brokerage fees. Brokers are compensated for their services
through something called the bid-ask spread. No middlemen. Spot
currency trading eliminates the middlemen, and allows you to trade
directly with the market responsible for the pricing on a particular
currency pair.
No fixed lot size. In the futures markets, lot or contract sizes are
determined by the exchanges. A standard-size contract for silver
futures is 5000 ounces. In spot Forex, you determine your own lot
size. This allows traders to participate with accounts as small as
$250. Low transaction costs. The retail transaction cost (the bid/ask
spread) is typically less than 0.1 percent under normal market
conditions. At larger dealers, the spread could be as low as .07
percent. Of course this depends on your leverage and all will be
explained later. A 24-hour market. There is no waiting for the opening
bell - from Sunday evening to Friday afternoon EST, the Forex market
never sleeps.
This is awesome for those who want to trade on a part-time basis,
because you can choose when you want to trade--morning, noon or night.
No one can corner the market. The foreign exchange market is so huge
and has so many participants that no single entity (not even a central
bank) can control the market price for an extended period of time.
Leverage. In Forex trading, a small margin deposit can control a much
larger total contract value. Leverage gives the trader the ability to
make nice profits, and at the same time keep risk capital to a
minimum. For example, Forex brokers offer 200 to 1 leverage, which
means that a $50 dollar margin deposit would enable a trader to buy or
sell $10,000 worth of currencies. Similarly, with $500 dollars, one
could trade with $100,000 dollars and so on. But leverage is a double-
edged sword. Without proper risk management, this high degree of
leverage can lead to large losses as well as gains.
High Liquidity. Because the Forex Market is so enormous, it is also
extremely liquid. This means that under normal market conditions, with
a click of a mouse you can instantaneously buy and sell at will. You
are never "stuck" in a trade. You can even set your online trading
platform to automatically close your position at your desired profit
level (a limit order), and/or close a trade if a trade is going
against you (a stop loss order).
Free Demo Accounts, News, Charts, and Analysis. We offer 'demo'
accounts to practice trading, along with breaking Forex news and
charting services. All free! These are very valuable resources for
poor and SMART traders who would like to hone their trading skills
with 'play' money before opening a live trading account and risking
real money.
Mini and Micro Trading: You would think that getting started as a
currency trader would cost a ton of money. The fact is, compared to
trading stocks, options or futures, it doesn't.
Online Forex brokers offer "mini" and micro trading accounts, some
with a minimum account deposit of $300 or less. Now we're not saying
you should open an account with the bare minimum but it does makes
Forex much more accessible to the average (poorer) individual who
doesn't have a lot of start-up trading capital.
Now with our system at your fingertips you can start trading with only
$100. Just keep in mind that more capital will minimize the risk of
loosing + give you greater profits.

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