How to Trade - The Benefits of Forex Trading
The Benefits of Forex Compared to Regular Stocks
Liquidity in the FX market means that there are far more trade setups compared to stocks. It also means that there is more money on the table. - (Approx. 3.98 Trillion Dollars are traded per day).
Once you get to an advanced level you can trade the news, however a novice should keep away from trading the news. An example of this would be the first Friday of every month is nonfarm payroll.
There are strong trends in the market meaning that strategies are easier to create and adapt depending on the current economy.
No matter what time you would like to trade or if you want to trade around another job you can as Forex is a 24 hour market.
Stops - almost all stops are guaranteed. NEVER enter a trade without stops. It is incredibly important to do research into your chosen broker as some will charge you more per trade and some don't trade live to market.
With the right equipment and in the correct environment information is easily accessible. You can see what news might affect the market and amend your order accordingly.
Next weeks - How to Trade: The Exchange Rate
Last weeks - How to Trade: What is Forex