Reach a Million!
Every day more than $3 trillionForex Millennium get traded in the currency markets around the world. Currency markets are by size the largest market as compared to stocks and futures markets. Currency markets are open 24/5 with the exception of weekends when they are closed. When one market closes the other opens so currency trading goes on nonstop 24 hours around the world. For example when the New York market closes, the markets in Hong Kong and Japan are opening up so you will see nonstop action in these markets.
Throughout the day, currency is traded in the over the counter markets around the world. Over the counter means that there is no fixed location for these markets and most of the trading takes places on computer terminals between traders. Currency markets are the most liquid markets as compared to stocks and bonds. The bid-ask spread and the trading cost is the lowest in fx markets as compared to other markets. The following contracts get traded in the currency markets:
Apart from spot contract, these contracts are meant to hedge your currency positions and reduce your risk. Most of the people are afraid of currency trading and are rightly so because of its inherent volatility and risk. But there are people who made their fortunes trading currencies. The best vehicle to trade currency is currency options. If you can spot the trend and take proper long or short position in the underlying currency, chances are you can make a fortune.
The most notable was George Soros who had once taken the risk of betting $10 billion while speculating on British pound. He was lucky, his bet came off right and he made $2 billion in a few days. Warren Buffet is also known to trade in currency options when he spots a trend and thinks that he will make a good return.
Previously the currency markets were almost closed to individual investors. But with the advent of internet and electronic trading, currency markets are now open to even small investors. With the present financial crisis and the turmoil in the stock markets, experts are of the opinion that this is once in a life time opportunity to make a fortune in Forex markets. Why don't you join this action and take a try. In a month you can get started with your Forex trading.
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