Foreign Exchange Market | Currency Market

What is the Forex Market? (Brief Overview).

The foreign exchange currency market is by far the largest financial market in the world. The average daily trade volume in the forex global markets currently exceeds US$ 2 trillion making the forex markets the largest and most efficient market in the world.

This extremely large amount of liquidity makes this the Forex markets the ideal and best market to trade for large banks, central banks, currency speculators, and retail traders.

Support and thanks to JCL's-Forex Trading and Forex Club.

 "It's simple really. When you place a trade assume you are wrong and act accordingly. If you happen to be right gradually add to your position. Always make sure your stop is moved to break even and then locking in profits once possible to do so.  Let the trade snowball into large profits which equals large accounts. It's a matter of risk reward and position sizing. It's money management." - Jordan Lindsey, JCL's-Forex

Who is the Best Forex Broker?

Wed, 09/03/2008 - 17:16 — Forex

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Finotec Group, Inc. announces World Forex Trading Contest

Finotec has released an annoucement today for a World Forex Trading Contest.

"The World Forex Trading Contest is a way for us to reward those loyal customers who bring us high volumes of business," says Didier Essemini, Chairman of the Board and CEO of Finotec Group, Inc. "We hope that our Grand Prize winner will not only have a great time enjoying London but will also learn more about the financial markets to which Finotec provides access."

It is interesting to note that Finotec is giving first place to "The winners will be judged by the amount of profit made in one day during the duration of the contest."

Let's take a look at this and what it is saying. A Forex broker is offering a trading contest to it's clients and awarding not the client with the most consistent return, not the account with the lowest draw down while maintaining the highest return throughout the contest, but the single highest return for any given day during the contest. 

As a trader if I wanted to win his contest I am going to have to do two things; be over and highly leveraged and be aggressive in my trading.

Full story, Finotec Group, Inc. announces World Forex Trading Contest

What kind of message do you think this broker is sending out to their clients?

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