Let's Talk About Forex

Gaurav Learns What Forex Is in General

The next day when we met I decided to tell my friend about how Forex market was formed, what it is in general and who the main participants of that market are.

-I will now tell you how the Forex (Foreign Exchange) market was formed. Before 1970s the price of a currency was determined by the gold reserve of that country. Each currency had its equivalent expressed in ounces of gold. But soon everything changed. The fluctuating rates came to replace the gold standard. So this is how international Forex market was formed.

- What are fluctuating rates, Manoj?

-Fluctuating rates are the capability of the currency value to change freely depending on the supply and demand for that currency.

-Ok, clear. So I cannot understand how currencies are traded.

-Everything is simple, Gaurav. In Forex market a definite amount of one currency is sold or bought by a definite number of another currency. To make it clearer to you just imagine that one currency is the product, another is the currency with which you sell or buy the product. And you gain profit from trades thanks to floating currency rates.

- Ok, so for example if I trade with EURUSD it means that EUR is the product and USD is the currency, right?

- Yes, you are quite right, my friend. Let’s continue. So what is the advantage of this market you may ask. Imagine a market where you can buy or sell any moment you like; Forex market is open 5 days 24 hours a week. You can trade wherever you want due to online trading; a computer or mobile with internet connection and your trading becomes possible from any corner of the world. What is important for me is that in Forex market you do not have any boss, actually you yourself are your boss. In this sphere you are completely independent, there aren’t even colleagues, accordingly no competition exists.

- Great, so anyone can be involved in this market?

- Actually till 1990s only big financial institutions and banks could participate in Forex market. Forex trading was realized with several million U.S. dollars. In future due to brokerage companies Forex trading became possible for individuals as well. Thanks to margin trading one can trade with 100 000 dollars possessing just 1000 dollars, thus risking his own money. I will tell you about margin trading with more details later. And also remember that there is no international Forex company. Forex is realized due to brokerage companies. At present there are an unlimited number of brokers all over the world, offering their own unique services.

- Yes, my friend you really provided me with valuable information.

- This is only the beginning, Gaurav. Next time we will go deeper into this world.

Let's Talk About Forex

Gaurav Decides to Become a Forex Trader

The other day one of my friends rang me up for sharing his decision with me:

- Hi, Manoj, how are you?

- Feeling amazing, I have just gained 1000USD in Forex market.

- Oh, my congratulations, that’s why I am calling you. I am eager to become a Forex trader like you. I possess 500USD and want to invest it and make thousands of dollars. So, I want your advice on which brokerage company to choose.

- I can advise you IFC Markets, a trustworthy company, but wait. Do you know how to trade?

- Yes, it’s simple. You invest money and get profit.

I couldn’t help laughing.

-Let’s meet and I’ll prove that it is not that much simple, my dear friend.

So, we made an arrangement at 7 o’clock in a cosy café to discuss the matter with a cup of coffee.

 Later in the café:

-So, you are interested in Forex trading? I asked

-Yes, and I am about to invest. What I need to do is to choose the proper broker and start my profitable business. I have a definite amount of money, opportunity to choose a broker and a wish to trade. What else do I need?

-You need much to know before starting this business. Let us meet every day and I will explain the basics of Forex trading to you.

-Agreed, thanks, my friend.

Good News

I am glad to announce that we are becoming more and more day by day. From now on we are already a team and will work more productively since your trust is our pride. We are adopting a completely new approach and are going to present you the basics of Forex in a more available way.  

LINK HERE  - http://aboutforex-india.blogspot.com/p/lets-talk-about-forex.html ||

Follow us every Friday.

Hello, dear traders. I would like to inform you that from this time on the blog will be regularly updated with new posts. If you are interested, follow us every Friday.

NetTradeX

NetTradeX Trading Platform

I have been absorbed by Forex trading for already two years. During this period I have realized my trading ambitions with a range of brokerage companies. While deciding what trading platform to choose, every time I gave my preferance to Metatrader 4. My experience in working with this platform has gone so far, that passing to another one was merely out of the question. But as once I encountered with IFC Markets brokerage company, its trading platform really caught my attention. This platform is actually innovative one, offering its clients a broad range of possibilities for trading in Foreign Exchange market. I am more than sure that it will be valuable for Foreign Exchange in India as well.

I would like to present you the main distinctive features of this platform and what I mainly like or dislike about it.

·         Like everything in this life, the first impression of the platform is its appearance. I somehow like its interface and menu is quite comfortable as well, thought it is a little bit complex for beginners. It would be better if they provide some tutorials how to make use of the platform.

·         What makes NetTradeX different from MT4 is that it gives its traders an opportunity to make a withdrawal request directly from the platform. Very convenient and innovational, don’t you agree?

·         With NetTradeX trading platform you can set up a whole range of orders and their combinations, such orders as Market, Limit, Stop, Pending, Linked, Activated and Trailing Stop mode as well. Moreover, in NetTradeX Trailing Stop order is active on the server, i.e. it works even when the client terminal is turned off.

·         Here you can make opposite transactions with the same currency at the same time without positions closing each other and this is possible through Lock mode.

·         NetTradeX allows to get financial market’s news flow every day with the help of which you make trading decisions more easily and reasonably.

·         A detailed trading account’s information is available. In case you forget what operations you have made, never mind, the platform reflects all your operations and you can see them any moment you wish.

·         NetTradeX trading platform provides a broad range of technical analysis tools, which will give you wider opportunities for technical analysis.

·         The terminal is available in 15 languages. Unfortunately, currently it is not available in Hindi for Forex India, but I hope that in the nearest future we will enjoy the terminal in Hindi language.

I guess that at present this platform is one of the most innovational and multifunctional platforms. Gradually it is becoming better and better by improving its functions and services. 

Contacts: 
web- www.nettradex.com
Facebook - facebook.com/NetTradeX
Twitter - twitter.com/nettradex

New IFC Markets

Great! Finally the new website of IFC Markets is launched. New design, new offers, new services. Enjoy your Forex trading in IFC Markets!

http://www.ifcmarkets.com/