We could say that yes and no. Many new coming traders of this currency market ask such questions. There is no unequivocal answer to them. The name "profession" implies the existence of certain human skills through the use of which a man receives financial profit. With the advancement of online trading technologies and access to global financial markets, Forex became available to everyone. You don’t need much of your own funds to try your hand there. Also, the necessary knowledge is available on the brokers’ websites...
Plenty of forex brokers do not only offer demo contests, but heavily promote them. They are an extremely terrible and poor form of marketing and one of the biggest mistakes a new trader can make. They are very popular among new forex traders and the brokers who promote and encourage them exploit one of the biggest hurdles for new traders; insufficent trading capital. The way most demo contests are arranged s that you register for them and registration is open to everyone. Each registered participant, you are a participant and not a trader...
Last week, the U.S. finance regulators adopted the "Volcker rule", which prohibits banks to earn on speculations. The final version was more severe than anticipated. However, it is possible that the pendulum will swing again soon in the opposite direction. U.S. authorities showed a rare unanimity - all five departments from which depends the fate of the banking sector, approved the introduction of the so-called Volcker rule. This means tighter control of banks and abrupt changes in their activity. Named after former...
Participants of Forex market are divided into two groups by their activity and influence on exchange rates: market makers and market users (same as price takers). The notion of market makers involves large banks and financial institutions, which determine the current level of the exchange rate due to a significant proportion of their operations in the total world market. Market makers constantly monitor the rates of various trading tools (ex. Forex currency pairs) as they enter into the transactions with them. Market makers are market...
Ben Bernanke chaired his last Federal Open Market Committee or FOMC meeting during a two day session which started Tuesday and ended Wednesday with an announcement which most likely surprised most forex traders as expectations called for the US Federal Reserve to leave the current stimulus in place. Yesterday’s FOMC announcement was the most anticipated one in 2013 as plenty of talk has been circling the forex market as well as any other financial market. Plenty of traders stood on the sidelines going into the announcement. The US...
