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Forex market is a platform where all the currencies of the world are traded. It is the largest and the most liquid market across the world. The transactions of all the stock market of the world also fall short in comparison to the forex market. The volume of per day transaction in forex market exceeds $5 trillion. People who are interested in making quick money, forex market is the best place for them. The volatility of the market makes it one of the most profitable trading market in the world.
One of the feature of the forex market that attracts investors is the liquidity of the market. The investor does not have to wait for working hours to buy and sell their holdings. There is always someone available to buy or sell the holdings. This is possible because the forex market operates 24*7. Every person that plans to travel abroad has to make a foreign exchange transaction. However, trading in forex is convoluted. If you are new to trading you need to have complete knowledge of the market, which is possible with the help of a Forex coach.
Steps to trade in the forex market
- Open account: If you wish to trade in forex market you are first required to open an account with a trading provider. However, there is no deed that says that you have to deposit funds in the account until you place a trade.
- Choose a platform: Upon opening an account you to decide on the trading platform. The trading platform must suit your preference and style like Siby Varghese. Your trading platform must provide you with trading alerts, charts, and risk management tools.
- Open, monitor and settle your position: You can start trading once you selected a trading platform. Open the deal ticket and you will be able to view all the buy and sell prices that are listed. It will also allow you to monitor your position as well add a limit to close your trade.
Benefits of forex trading
- One of the most important benefits of trading in forex is that you can trade at the hour of the day. There is no time limit for trading.
- The volatility of the market increases the chances of earning profits.
- There will always be a seller and buyer to buy and sell the holdings.
- Forex trading market is a highly liquid market. You can cash your holdings as per your requirement.
