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Forex Market

Written by ForexCult Team
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Forex Market If you are going to be trading in the forex market it is going to be a very important key to your success that you know the six forces that affect forex in general. You know it is very seldom that a trader will stop and take the time to actually think about the context that describes the forex market; however every trader that is trading in the forex market should because it is a vital key to their success. As the forex market begins to mature it becomes known as a retail investment environment and with that change accompanies many more rules not to mention that the stakes that are involved in the forex market will only begin to multiply. It is important that a trader take the time to learn about the forex market and all of the rules that go along with it. I am going to tell you about the six forces that affect the forex market in this article; however I recommend that you take the time to do your own research into other aspects of the market as well. You will be shocked to learn that there is so much that is involved in this market. The Forex Market and the Six Forces When it comes to the analysis of the forex market, you should know about the six forces that affect the forex market as a whole. In this paragraph, I am going to inform you of those six forces and also tell you how they affect the market. The first force is known as the “who” force of the forex market and it is use to refer to the faces of the people and companies that are involved in the market. These faces are the faces that actually shape the action of the market. The second force is known as the “why” force of the forex market and is used to describe your understanding of the market and also the nature of the market. This force also refers to you knowing the inherent opportunity that is there within the forex market. The third force of the forex market is the “where” force and is used to your ability to match your main objectives to an optimal dealer in the forex market. The fourth force of the forex market is the “when” force, this force refers to your ability to actually be able to time your individual trades so that you are able to get the maximum efficiency. Nonetheless, the last force of the forex market is known as the “how” force and this refers to your ability to select a toolkit to use while you are trading so that you are able to improve the ability of your trading. The Forex Market in General Now that you are aware of the six forces that affect the market, it is important that you take a look at the market from an action stand point. When you take a look at the market through this viewpoint it is important that you are able to actual begin to take an inventory that is related to your very own trading plan. You should also begin to find certain solutions that can actually help you to execute your plan by a step by step course of action. In the analysis outlook, you will find that most traders in the market find that a comprehensive trading plan is farther outreached than what they expected. What I mean is that most of the traders that are trading in the market today, haven’t even adapted to a trading plan yet. In which, they should develop a trading plan the moment that they have learnt enough information about that market to create one that is adaptable to their independent trading personality. In this market, you will find that there are many cases when the lure of easy money actually is able to distract the trader from the actual reality of hard work and determination. In this market, it is important that the trader knows that they are going to have to work hard in order to be able to achieve the goals that they have set from themselves in the market. There is no way in the world that they are going to be able to succeed in the market if they are not willing to put in the time and effort that the market requires. A good trader will take the time to develop a system of trade and will do everything that they can to execute the trade.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.