Sunday, March 18, 2018


It doesn’t take a financial genius to figure out that the biggest attraction of any market, or any financial  venture for that matter, is the opportunity for profit.  In the Forex market, profitability is expressed in a  number of ways.    First of all, just to set the record straight, you do not have to be a millionaire to trade Forex.  Unlike most  financial markets, the Forex market allows you to start trading with relatively low initial capital.  At ICM,  you can start trading Forex with as little as $500!  Right about now you’re probably asking yourself:  “what chance do I have of profiting with such a low  initial investment?”  The Forex market does not require large initial investments because it allows you to  use leveraged trading.  Leveraged trading lets you open positions for tens of thousands of dollars while  investing sums as small as $500.  This means that Forex trading has the profit (and loss) potential of tens  and even hundreds of percent a day!  What is also unique about the Forex market is that any sort of movement is an opportunity to trade.   Whether a currency is crashing or soaring, there is always room for speculation, since you always have  the option of buying or selling the currency of your choice.  Unlike the stock market, you are not limited  to speculating on rising stocks, and a falling market is just as good for business as a rising market.  Having said all that, it is important to remember that as profitable as the Forex market is, it still carries  all the risks involved with financial trading.  You should always be aware of the risk and never risk money  that you cannot afford to lose.



Symbol      Currency Pair      Trading Terminology  GBPUSD    British Pound / US Dollar     "Cable"  EURUSD    Euro / US Dollar     "Euro"  USDJPY    US Dollar / Japanese Yen     "Dollar Yen"  USDCHF    US Dollar / Swiss Franc     "Dollar Swiss", or "Swissy" 

USDCAD    US Dollar / Canadian Dollar    "Dollar Canada"  AUDUSD    Australian Dollar / US Dollar    "Aussie Dollar"  EURGBP    Euro / British Pound     "Euro Sterling"  EURJPY    Euro / Japanese Yen     "Euro Yen"  EURCHF    Euro / Swiss Franc     "Euro Swiss"  GBPCHF    British Pound / Swiss Franc    "Sterling Swiss"  GBPJPY    British Pound / Japanese Yen    "Sterling Yen"  CHFJPY    Swiss Franc / Japanese Yen    "Swiss Yen"  NZDUZD    New Zealand Dollar / US Dollar    "New Zealand Dollar" or "Kiwi"  USDZAR    US Dollar / South African Rand    "Dollar Zar" or "South African Rand"  Gold     Spot Gold (XAU)     "Gold"  Silver    Spot Silver (XAG)   

Introduction:  Why Forex?

If you are reading this guide, you have most likely taken some sort of interest in the Forex market.  But what does the Forex market have to offer you? Accessibility –   It’s no wonder that the Forex market has the trading volume of 5 trillion a day – all anyone needs to take part in the action is a computer with an internet connection. 24 hour Market – The Forex market is open 24 hours a day, so that you can be right there trading whenever you hear a financial scoop.  No need to bite your fingernails waiting for the opening bell. Narrow Focus – Unlike the stock market, a smaller market with tens of thousands of stocks to choose from, the Forex market revolves around more or less eight major currencies.  A narrow choice means no room for confusion, so even though the market is huge, it’s quite easy to get a clear picture of what’s happening. Liquidity –  The foreign exchange market is the largest financial market in the world with a daily turnover of just over $3 trillion!  Now apart from being a really cool statistic, the sheer massive scope of the Forex market is also one of its biggest advantages.   The enormous volume of daily trades makes it the most liquid market in the world, which basically means that under normal market conditions you can buy and sell currency as you please.  You can never be in a jam for currency to buy or stuck with currency that you cannot unload. The Market cannot be cornered – The colossal size of the Forex market also makes sure that no one can corner the market.  Even banks do not have enough pull to really control the market for a long period of time, which makes it a great place for the little guy to make a move.