What Are The Forex Trading Basics, And How To Start Making Profit From It?

Experiences trader and trainer, Ho Keng Whye from FXPrimus shared about the basic of Forex trading.

What is Forex?
Forex is the largest financial market in the world.

How large is Forex?
The New York Stock Exchange, on average, trades about $1 billion per day VS Forex which trades $5.3 trillion per day.

Do you have any idea how much is one trillion?
We all know that it involves a lot of zeroes and a huge sum of money. But, to put it in a better perspective: Imagine someone is giving you $1,000 every second? After 10 seconds, how much will you have received? $10,000; for one minute, that’s $60,000.

How long does it take for someone passing you $1,000 per send to give you $1 trillion?
Is it 1 week? 3 months? 1 year?
The actual answer is 32 years. So, just to pass you $1 trillion, the person would need to keep passing you $1,000 for 32 years. Imagine having to pass $5.3 trillion. That’s more than a lifetime! That’s how much Forex is trading every day.

So, the Forex market is open 24 hours a day, five days a week. This is because the market is traded by the banks. These are banks in different countries with different time zones. The market starts with New Zealand and Australia, and then followed by the rest of the Asian countries.

Before the Asian market closes, the European market opens in the afternoon to take over. Now, before the European market closes at midnight, the U.S. market will open. Again, going full circle, before the U.S. market closes, the New Zealand and Australia markets will open. This is how the Forex market manages to operate 24 hours a day, 5 days a week.

Watch the webinar below to learn more on How to Start Making Profit in Forex Trading: