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Forex is fast becoming one of the most popular trading markets. This produces a multitude of questions, and here are just some of the most frequently asked.

What is the Forex market?

Forex or foreign exchange market is where currencies are traded. All currencies are paired, so you will find the US Dollar traded against the British Pound, Euro or Australian Dollar etc. The market has continuous monetary flow as traders are constantly exchanging currencies, for their purposes or to facilitate trade.

There are individual participants in the market who speculate the movement of exchange rates, allowing them to cash in as the rate fluctuates. However, large banks and financial institutions are the main participants in the market. Depending upon their jurisdiction banks do not speculate on currency prices.

How does the Forex market differ?

Forex does not have a central body overseeing trades. All transactions are dependent on a credit agreement between the parties involved. This allows for trade at all hours of the weekdays without market closures. There is no clearing house to verify the trades so there is no dispute panel.

How do I start to trade?

Forex demo accounts are available to obtain an understanding of the market and trading. These can help new traders experiment with different strategies without risking capital. There are a number of different trading platforms and an abundance of educational resources to assist beginners. Once you are familiar with the market and trade processes, you can register with a broker for a trading account.

Is it expensive?

Forex is actually one of the most inexpensive markets to trade in. Broker fees are usually cheaper than other markets and there are a number of account options which do not require huge initial investment sums. You should always clarify any fees or charges which apply with your particular broker to make sure it is acceptable before trading.

Forex can be an exciting place to trade, take a little time to research the strategies and market. Once you feel confident, you can begin your journey to Forex profits and success.

Posted: Knowledge To Action Pty Ltd. - Free Forex Training  

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Are There Optimum Indicator Parameters? Print
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A question asked by both professional and private traders alike

I have been training traders for around 15 years and perhaps the most frequently asked question of all goes something like: "What parameters do you use for your moving averages?"

My sincere and honest response is that I don't use any in my analysis and if I did there is no such thing as an optimum parameter … except in hindsight. However, hindsight is not much worth to us right now.

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Do Candlestick Charts Work on Forex Charts? Print
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The limitations of candlestick patterns in Forex

The quick answer is both "Yes" and "No".

Candlestick charting was first developed by Japanese rice traders and can be traced back several hundred years in the 18th century. According to Steve Nison, candlestick charting first appeared sometime after 1850. Much of the credit for candlestick development and charting goes to a legendary rice trader named Homma from the town of Sakata. It is likely that his original ideas were modified and refined over many years of trading eventually resulting in the system of candlestick charting that is used today.

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Forex Mistakes That Assure Failure Print
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Before venturing into your trading journey there are some things you need to be aware of, otherwise you could succeed on your trading adventure, and we don't want that to happen, do we? This Forex training guide will help you track the most costly mistakes Forex traders do.

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How to plan your success in trading Print
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1. Establish a plan and define specific risk and profit objectives before trading. Maintain the necessary discipline to follow that plan through both good and bad times. Successful traders will agree that discipline contributed more to their success than their trading philosophy itself. Remember that the key to any plan is how well it holds over time
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