Saturday, January 19, 2008
Forex - A Simple Strategy for Trading the World s Largest Financial Market
Forex - A Simple Strategy for Trading the World s Largest Financial Market The forex, or foreign currency exchange market, is the world s largest financial market trading more than two trillion dollars per day. Banks and institutions make millions for their individual companies trading this market. As companies charge hundreds of dollars for their forex trading systems and thousands of dollars for their seminars, it begs the questions, Is there a simple strategy for trading forex? and. Is there an inexpensive method? After spending thousands of dollars and hours not learning to trade the forex market, Wealth System Solutions and Forex Money Online were created to test inexpensive systems to see if there were easy and inexpensive systems that you could use to actually profit in this lucrative market. One of the most interesting developments is that the companies found several products that cost only two hundred or one hundred dollars that taught about the forex. This is compared to typical programs and seminars that cost hundreds and thousands of dollars and don t teach you to profit from the forex. One new program is a simple, easily downloadable software program which tells you exactly which currency pairs and at what time of each day Monday through Thursday that a person should trade them. Even though the forex interbank market is open Sunday through Friday, with this simple software, trading need only happen a couple of times per day Monday through Thursday. Many systems trade the London market which in North America is in the middle of the night and difficult for the average person to trade. Not so with this software. It can be traded during the day, you can receive even receive signals remotely, and the software even tells you if there is a trade or not. For the week of August 8th, 2007, the results looked like this: Here is a recap of how we did with the forex trading for the week. Monday USD/CAD -12 PIPS GBP/AUD 55 PIPS Tuesday I was out of town so I didn t trade. Wednesday No trades occurred. Thursday EUR/CHF 15 PIPS AUD/USD 32 PIPS GBP/USD 12 PIPS We had a total of 5 trades and won 4 of them. Over 100 pips total profit. Each trade is done in currency pairs. The software tells you whether to buy or sell. For example, on Monday the USDCAD pair or US Dollar/Canadian Dollar pair was traded for a loss of 12 pips or price interest points. In a mini account, basically that s a loss of 12 U.S dollars at one lot. At two lots it would double, etc. In a standard account, the loss would be one hundred tweny dollars at one lot. Let s not focus on the loss though. Basically, with the software, you would have traded two days and made 100 pips profit! I say two days because as you notice, Tuesday wasn t traded and Wednesday, the software indicated no trades were available. If you know nothing about the forex, let me tell you, this is unheard of! People spend hours on their computers trading and don t get these results. Wealth System Solutions has indeed found a solution to the expensive systems and seminars, a simple strategy for trading, not to mention the time it takes to actually make an excellent profit in the world s largest financial market, the forex. If you enjoyed this article and would like more information on the forex, visit wealthsystemsolutions.com and enjoy our articles, newsletter, blogs, and easily downloadable, profitable systems.