Introduction To Forex Trading.pdf

Introduction

Forex Trading

The Leader in Rule-Based Trading™

Important Information and Disclaimer:

TradeStation Securities, Inc. seeks to serve institutional and active traders. Please be advised that

active trading is generally not appropriate for someone of limited resources, limited investment or

trading experience, or low risk tolerance, or who is not willing to risk at least $50,000 of capital.

This book may discuss in detail how TradeStation is designed to help you develop, test and

implement trading strategies. However, TradeStation Securities does not provide or suggest

trading strategies. We offer you unique tools to help you design your own strategies and look at

how they could have performed in the past. While we believe this is very valuable information,

we caution you that simulated past performance of a trading strategy is no guarantee of its future

performance or success. We also do not recommend or solicit the purchase or sale of any

particular foreign currencies, commodities, securities or derivative products of any of those. Any

symbols referenced in this book are used only for the purposes of the demonstration, as an

example ---- not a recommendation.

Finally, this book may discuss automated buy and sell alerts and/or electronic order placement

and execution. Please note that even though TradeStation has been designed to automate your

trading strategies and deliver timely order placement, routing and execution, these things, as well

as access to the system itself, may at times be delayed or even fail due to market volatility, quote

delays, system and software errors, Internet traffic, outages and other factors.

All proprietary technology in TradeStation is owned by TradeStation Technologies, Inc., an

affiliate of TradeStation Securities, Inc. The order execution services accessible from within

TradeStation are provided by TradeStation Securities, Inc. pursuant to a technology license from

its affiliate and its authority as a registered broker-dealer and introducing broker. All other

features and functions of TradeStation are provided directly by TradeStation Technologies.

TradeStation® and EasyLanguage® are registered trademarks of TradeStation Technologies, Inc.

"TradeStation," as used in this document, should be understood in the foregoing context.

its affiliate, TradeStation Securities, Inc. (Member NASD, NYSE, SIPC & NFA)

Introduction to Forex Trading with TradeStation.

Before we begin , let's review what is now being called the "Perfect" trading platform.

eToro Review

About Forex

The Forex market has quickly become the world's largest financial market, with an estimate daily turnover of $3.2

trillion. It is a market that has great appeal to a financial trader because of its volume which guarantees liquidity.

High liquidity means that a trader can trade whatever currencies he feels like at all times, since there will always

be someone to buy and sell any currency he wants. Another outstanding feature of the forex market is that it is

active 24 hours a day and is closed only on the weekends. This means that unlike the stock market for example,

traders in the forex market don't need to wait for a bell to ring, but can make trading decisions around the clock.

Enter the internet into the equation. Now the forex market is literally at your fingertips. Most brokers offer online

trading facilities which enable you to trade simply by clicking a button, instead of the traditional phone call. The

internet has really revolutionized the industry, making the retail section of the market more dominant than ever.

About eToro

eToro is a forex trading platform developed to cater to the emerging retail segment of the forex market. With its

simple style and exciting trade visualizations, eToro is the perfect platform for a novice trader to get his first forex

trading experience. With its great array of professional forex trading and analysis tools, eToro is also the perfect

platform for experts in the field who want to trade comfortably and reliably. eToro has developed a truly intuitive

interface that lets traders concentrate on trading instead of messing around with bulky and overcomplicated

software.

It's important to mention that eToro also offers an educational experience, so novices can gain knowledge of the

forex market and eventually become pros if they're so inclined. eToro offers forex trading guides, forums and video

tutorials to facilitate their traders' progress. eToro also offers an unlimited practice mode where both beginner and

seasoned traders can sharpen their skills and test their strategies with real market rates.

Overall eToro have successfully designed a software that caters to a very wide segment of the forex trading

public. eToro is bound to remain a leader in the forex industry for a long time to come.

eToro's features:

Visual representation of trades : Monitor your trades with ease by watching creative visualizations of your trading

activity.

Practice mode : Test your skills and strategies by trading with live rates, without risking a cent.

Trading Challenges: Compete against fellow traders for cash prizes - with no entry fees.

Trade: Enjoy immediate and accurate execution with all your trades.

Low Spreads: Save a fortune on eToros super low spreads - as low as 2 pips.

And soon to come:

Trade: Enjoy real time execution with all your trades.

eToro's Pro Insight: Get a look at what currency pairs eToro's top 100 traders are trading at the moment, and

use the inside info to your advantage!

Download eToro for FREE and join a fast growing forex community.

Watch Video!

Market Overview

Forex or FX, is an abbreviation for Foreign Exchange. It is a way of trading exchange

rates between two different currencies. Basically, you buy one currency and sell the other

for the purpose of investment speculation. The goal is to make a profit when the value or

exchange rates of the currencies traded move in your favor.

Forex has more daily volume than any other market in the world. Taking place in the

major financial institutions across the globe, the Forex market is open 24 hours a day.

Over 90% of all currencies are traded against the US Dollar (USD). The next most-traded

currencies are the Euro (EUR), Japanese Yen (JPY), Pound Sterling (GBP) and Swiss

Franc (CHF).

The Players

There are four primary groups that trade the Forex market:

First, the Novice or Retail Traders – these are part-time, non-professional traders who are

speculating on market direction – not hedging, that is, not using these markets as part of

other international business dealings.

Second, the Dealers – these are the market makers, setting prices and putting together

trades.

The third group, the Institutional Traders, work in banks or government agencies. They

trade huge amounts of money and the size of their trades moves the markets. These

traders are often trading to settle accounts for import/export and other actual international

business dealings.

Last, are the Advanced Traders. This group comprises professional full-time traders,

people from all across the world, sitting in smaller investment firms, offices, or even their

homes. Again, these traders are generally speculating on market direction – not hedging.

Interbank

The term INTERBANK discussed in FX terminology simply means ‘between banks and

large institutions’ where information is exchanged about the current rate at which their

clients or they could buy or sell a currency. However, the term ‘Interbank’ today also

means anybody who is prepared to buy or sell a currency. Interbank also implies that

Forex is not traded on an exchange like equities and futures.

The quoted prices for a Forex are based on information from the top banks and large

institutions.

Benefits of Trading Forex

ZERO Commissions

When trading Forex with TradeStation, you pay NO commissions and NO data exchange

fees. The cost of trading Forex is determined by the amount derived by the dealers and

other third parties from the Bid-Ask spread.

24 Hour Market Action

The Forex currency market is a seamless 24-hour market.

Leverage

Forex trading often allows borrowing leverage up to 100 times your account value.

Remember that while leverage can help build profits quickly, it can also produce large,

catastrophic losses.

High Liquidity

The Forex market, with an average trading volume of over $1.3 trillion per day, is the

most liquid market in the world. This means that a trader can usually enter or exit the

market at will in almost any market condition usually without regard to trade size

limitations.

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