Forex - Tell Me About It!(1).pdf

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Before we begin , let's review what is now being called the "Perfect" trading platform.
About Forex
The Forex market has quickly become the world's largest financial market, with an estimate daily turnover of $3.2 trillion. It is a
market that has great appeal to a financial trader because of its volume which guarantees liquidity. High liquidity means that a trader
can trade whatever currencies he feels like at all times, since there will always be someone to buy and sell any currency he wants.
Another outstanding feature of the forex market is that it is active 24 hours a day and is closed only on the weekends. This means
that unlike the stock market for example, traders in the forex market don't need to wait for a bell to ring, but can make trading
decisions around the clock.
Enter the internet into the equation. Now the forex market is literally at your fingertips. Most brokers offer online trading facilities
which enable you to trade simply by clicking a button, instead of the traditional phone call. The internet has really revolutionized the
industry, making the retail section of the market more dominant than ever.
About eToro
eToro is a forex trading platform developed to cater to the emerging retail segment of the forex market. With its simple style and
exciting trade visualizations, eToro is the perfect platform for a novice trader to get his first forex trading experience. With its great
array of professional forex trading and analysis tools, eToro is also the perfect platform for experts in the field who want to trade
comfortably and reliably. eToro has developed a truly intuitive interface that lets traders concentrate on trading instead of messing
around with bulky and overcomplicated software.
It's important to mention that eToro also offers an educational experience, so novices can gain knowledge of the forex market and
eventually become pros if they're so inclined. eToro offers forex trading guides, forums and video tutorials to facilitate their traders'
progress. eToro also offers an unlimited practice mode where both beginner and seasoned traders can sharpen their skills and test
their strategies with real market rates.
Overall eToro have successfully designed a software that caters to a very wide segment of the forex trading public. eToro is bound
to remain a leader in the forex industry for a long time to come.
eToro's features:
Visual representation of trades : Monitor your trades with ease by watching creative visualizations of your trading activity.
Practice mode : Test your skills and strategies by trading with live rates, without risking a cent.
Trading Challenges: Compete against fellow traders for cash prizes - with no entry fees.
Trade: Enjoy immediate and accurate execution with all your trades.
Low Spreads: Save a fortune on eToros super low spreads - as low as 2 pips.
And soon to come:
Trade: Enjoy real time execution with all your trades.
eToro's Pro Insight: Get a look at what currency pairs eToro's top 100 traders are trading at the moment, and use the inside info to
your advantage!
Download eToro for FREE and join a fast growing forex community.
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The Forex quick guide
for beginners and private traders
This guide was created by Easy-Forex™ Trading Platform , and is offered FREE
to all Forex traders.
Make your Forex learning much more efficient:
Register now at Easy-Forex™
and get FREE 1-on-1 LIVE training , in your language!
Joining is free and simple, and it gives you online access to many supporting
tools, such as Forex outlook, Forex charts, info-center, and more.
In this book: (click a chapter title below to directly get there)
page
3
1.
4
2.
6
3.
12
4.
5.
21
25
6.
29
7.
47
8.
56
9.
10.
11.
61
67
74
12.
110
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Introduction: how to use this book
This book has been developed to help the Forex beginner, though experienced
and professional traders may find it a handy reference.
Beginners and novice traders are likely to benefit from reading the entire
text, starting with Chapter 1, which provides a basic overview of what
currency trading is, and how to get started.
The chapters are set out in a logical flow, but do not need to be read in order
to make sense, as each works as a discrete unit unto itself. You may prefer to
focus first on those chapters that you feel will complement your particular
knowledge base best. Chapter 11 is a glossary of terms (listed alphabetically)
used in the Forex business, that will prove helpful as you read this book, and
may serve as a valuable reference as you become an experienced currency
trader.
With the help of this guide, you will soon be ready to start trading Forex – in
fact, with the assistance of the online Easy-Forex™ te a m, you can start today.
We wish you success in your trading, and hope you find this book interesting,
helpful and enjoyable.
Before you start, please remember:
• Forex trading (OTC Trading) involves substantial risk of loss, and
may not be suitable for everyone. Before deciding to undertake such
transactions, a user should carefully evaluate whether his/her financial
situation is appropriate for such transactions. Read more in the " RISK
• Always ask your Forex dealer (the TRADING PLATFORM you wish to
trade with) the questions we prepared for you in this book (chapter 9).
Selecting the appropriate Forex TRADING PLATFORM is essential for
success in handling your trading and monitoring your activity, as well as
maximizing profits, while minimizing losses and costs.
Your comments and suggestions are highly appreciated (and may well be
incorporated in our next edition)! Be our guest and write us:
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[1] Forex? What is it, anyway?
The market
The currency trading (foreign exchange, Forex, FX) market is the biggest and
fastest growing market on earth. Its daily turnover is more than 2.5 trillion
dollars. The participants in this market are central and commercial banks,
corporations, institutional investors, hedge funds, and private individuals like
you.
What happens in the market?
Markets are places where goods are traded, and the same goes with Forex. In
Forex markets, the “goods” are the currencies of various countries (as well as
gold and silver). For example, you might buy euro with US dollars, or you
might sell Japanese Yen for Canadian dollars. It’s as basic as trading one
currency for another.
Of course, you don’t have to purchase or sell actual, physical currency: you
trade and work with your own base currency, and deal with any currency pair
you wish to.
“Leverage” is the Forex advantage
The ratio of investment to actual value is called “leverage”. Using a $1,000 to
buy a Forex contract with a $100,000 value is “leveraging” at a 1:100 ratio.
The $1,000 is all you invest and all you risk, but the gains you can make may
be many times greater.
How does one profit in the Forex market?
Obviously, buy low and sell high! The profit potential comes from the
fluctuations (changes) in the currency exchange market. Unlike the stock
market, where share are purchased, Forex trading does not require physical
purchase of the currencies, but rather involves contracts for amount and
exchange rate of currency pairs.
The advantageous thing about the Forex market is that regular daily
fluctuations – in the regular currency exchange markets, often around 1% - are
multiplied by 100! ( Easy-Forex™ generally offers trading ratios from 1:50 to
1:200).
How risky is Forex trading?
You cannot lose more than your initial investment (also called your “margin”).
The profit you may make is unlimited, but you can never lose more than the
margin. You are strongly advised to never risk more than you can afford to
lose.
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