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Forex trading uncovered: How to profit from the world's largest financial market

by , 02 April 2015

The forex (or foreign exchange) market is the largest financial market in the world.

Instead of having to research a number of specific shares as you do with trading shares, with forex trading you need to understand how the forex market works.

This involves familiarising yourself with the world's major currencies and learning some simple trading strategies. Then you're ready to start forex trading.

So how do you profit from forex trading?

Read on to find out…

How to generate profits from forex trading

To profit from forex trading, you need to buy at one price and sell at a higher price. You make a profit from changes in the exchange rates of currencies.

On a daily basis, the forex market fluctuates. This along with trading a geared product multiplies the potential gains you can make from currencies.

And depending on your trading strategy, you can rake in profits over a very short period of time.

How to trade forex

Forex trading is easy to do. You decide on a currency pair you want to trade. You then decide how much of the currency you want to trade.

Depending on the currencies you’re trading, you’ll either use spread trading or currency futures.

To open a trade, you need to put down the margin. This is the deposit your broker or spread trading company needs to open a trade for you. This can be as low as 1% of your overall exposure.

Through your trading platform or the stock broker you trade through, you can give your stop loss and take profit levels. This means you know what your potential losses and gains are from the trade right from the beginning.

So there you have it, how to profit from the world’s largest financial market.

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Forex trading uncovered: How to profit from the world's largest financial market
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