FOREX TIP's

Hi! And thank you for visiting Free Forex Tips, the website for novice and prospective Forex traders.

You constantly hear in the news about the rise and fall of the U.S. dollar and see the ads touting how you can make money in Forex plastered all over the internet. But whatis Forex trading anyway?

When my son was in grade school, he became interested in action comic books. Not only did he like reading them but, as a neophyte artist, he spent many an hour learning to draw muscles and forms by copying the inked renderings of superheroes. Of course, this necessitated a steady supply of comic books for which he didn’t have the budget. Hence a savvy trader was born. He’d use the booklets until they were of no further use, then trade with his friends for “new” ones. It didn’t take him long, however, to realize that many of his peers, while enjoying reading comics, had no idea of their actual value. Shortly, he was trading $1.50 comic books for $10 books, building a collection of comics worth money. In a few months’ time, he had an impressive collection of books with good resale value.

Trading the Foreign Exchange Market is similar, in a way, to my son’s first entrepreneurial adventure. You trade one thing (a base currency), relative to another (a counter currency), and hope that the one you bought goes up in value relative to the other. If it does, you got a good deal. That’s all there is to it! Nothing complicated…really!

In my next blog I will discuss how to read foreign currency symbols and quotes. Thanks again for visiting .....Link......