your trading journal Summary You need a trading plan. This is what will keep you going in one month, one year, three years! Bank of International Settlements, in April 2016, trading in the foreign exchange market averaged over.1 trillion every day. Here is how you get started. This service has been taken up by commercial and investment banks on behalf of their clients, but it has simultaneously provided a speculative environment for trading one currency against another using the internet. Since the forex market is a 24-hour market, there tends to be a large amount of data that can be used to gauge future price movements.
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Simply, forex is the market in which currencies, or money, are traded. At the end of this process, you end up with more of the currency you have started with. Or maybe you just want to earn some extra money. So, pick which chapter you like and get started. updates: here I write updates as the trade goes along - chart: contains screenshot of the chart Keeping a trading journal is essential to following your trading plan. With help from the internet, a retail market aimed at individual traders has emerged, providing easy access to the foreign exchange markets, either through the banks themselves or brokers making a secondary market. Currency trading is also promoted as leveraged trading, and therefore, it is easier for a trader to open an account with a small amount of money than is necessary for trading in the stock market. Foreign exchange is the act of changing one country's currency into another country's currency for a variety of reasons, usually for tourism or commerce. Why are you into forex trading?