$40K per month... thoughts on forex markets?

[successsweet]

Originally Posted by Beth F

This is what I want to hear about!

How much of that are you Donating to IRS

Terri

[healthyfood4me]

Ever hear of an off-shore account????? LOL!!!

[Kinley]

Maybe I'm the only one that doesn't know,but what is forex?
Candace

[healthyfood4me]

Foriegn Currency Trading!!!!

[Melanie Milleti]

I'm starting my Forex education now, and will begin trading on or around April 8th when my mentor returns from Europe.
At that point I'll be able to actively discuss.

[healthyfood4me]

Melanie,
Isn't eztradepro geared more toward stock trading?
BethEdited by: healthyfood4me

[JessicaByers]

Originally Posted by healthyfood4me

Melanie,
Isn't eztradepro geared more toward stock trading?
Beth

i am clueless when it comes to this subject but i am interested to learn but may i ask what other trading are there, i thought forex was stock trading, or am i totally wrong?

[healthyfood4me]

Jessica,
Here is a little info for you on Forex:
Beth


FOREX INVESTING


Some Forex terminology


Pairs, Base Currency, Cross Currency. Currencies are always traded in pairs, and we are going to focus on just four. These are:
<UL>
<LI>EUR/USD = Euro / U.S. Dollar
<LI>USD/CHF = U.S. Dollar / Swiss Franc
<LI>GBP/USD = British Pound / U.S. Dollar
<LI>USD/JPY = U.S. Dollar / Japanese Yen </LI>[/list]

The currency on the left is called the base currency, while the currency on the right is called the cross currency. So in the EUR/USD pair, the base currency is the Euro, and the cross currency is the U.S. Dollar. The market establishes a rate for each currency pair, and this can change substantially every second.


To understand the rates, think of one (1) of the base currency as being equal to the rate of the cross currency. For example, EUR/USD = 1.2274 means that one Euro (the base currency) is equal to 1.2274 U.S. Dollars (the cross currency).





Lots. In the stock market, you buy and sell shares; in the Forex market, you buy and sell lots. Most FREEDOMROCKS Wealth Builders will be trading 1K lots, each lot representing 1,000 of the base currency.


Leverage. Forex brokers offer buying leverage at various ratios. A common ratio is 100:1, which means that a 1K lot could be purchased at 1/100 of the base currency value. For example, a 1K lot of USD/CHF would represent $1,000 in U.S. Dollars, but a leverage of 100:1 would allow its purchase for just $10. Because Forex brokers offer leverage as high as 400:1, it is possible to purchase this lot for as little as $2.50 (1/400 of $1,000).


Here's the example again: 1K lot of USD/CHF. The base currency (the one on the left) is U.S. Dollars.
<UL>
<LI>1K lot = 1,000 of the base currency.
<LI>Buying 1K lot of USD/CHF is buying $1,000 U.S. Dollars.
<LI>The 100:1 leverage means you can buy a 1K lot for just $10, because $10 is 1/100 of $1,000.
<LI>With leverage as high as 400:1, it is possible to purchase this same 1K lot for as little as $2.50. </LI>[/list]

PIPs. We make profits in the Forex market by gaining "Price Interest Points," or PIPs for short.


A PIP is the smallest possible rate movement in any currency pair. A 1-PIP movement is worth approximately 10 cents for each lot.



The KEY To Profitable Trading


The way to make money in all forms of trading is to SELL at a higher price than you BUY at. FREEDOMROCKS provides a zero guesswork, structured approach to help you achieve this very thing! How is this possible?


Let's use an example:


Start with the EUR/USD currency pair at a price of 1.2274. The question on everyone's mind is... will it go UP, or DOWN?
"The truth is... WE HAVE NO IDEA,
and neither does anyone else.
We're just WILLING to admit it!"


Nobody can truly predict which direction the markets will go, they can only make educated guesses. So, rather than try to predict the direction of the market, FREEDOMROCKS's system is designed so that whichever way the market moves, WHEN IT CORRECTS, we come away with money in our pocket.**

[Melanie Milleti]

EZtrade is stocks-
and there is a sister program that is forex. It is not directly on the site, as it is a small group.

[healthyfood4me]

Gotcha!!!!