WHY JOEL IS SO SERIOUS IN TRADING THE GLOBAL CURRENCIES?
The investment markets can quickly take the money of investors who believe that trading is easy. Trading in any investment market is exceedingly difficult, but success first comes with education and practice. So, what is currency trading and is it right for you? The currency market, or forex (FX), is the largest investment market in the world and continues to grow annually. On April 2010, the forex market reached $4 trillion in daily average turnover, an increase of 20% since 2007. In comparison, there is only $25 billion of daily volume on the New York Stock Exchange (NYSE). The market may be large, but until recently the volume came from professional traders, but as currency trading platforms have improved more retail traders have found forex to be suitable for their investment goals.
How Does It Work?
Currency trading is a 24-hour market that is only closed from Friday evening to Sunday evening, but the 24-hour trading sessions are misleading. There are three sessions that include the European, Asian and United States trading sessions. Although there is some overlap in the sessions, the main currencies in each market are traded mostly during those market hours. This means that certain currency pairs will have more volume during certain sessions. Traders who stay with pairs based on the dollar will find the most volume in the U.S. trading session. Currency is traded in various sized lots. The micro-lot is 1,000 units of a currency. If your account is funded in U.S. dollars, a micro lot represents $1,000 of your base currency, the dollar. A mini lot is 10,000 units of your base currency and a standard lot is 100,000 units.
Pairs and Pips
All currency trading is done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. Next, nearly all currencies are priced out to the fourth decimal point. A pip or percentage in point is the smallest increment of trade. One pip typically equals 1/100 of 1%.
JOEL A TRADER THAT I RESPECT MOST.
Joel trades on his own and he doesn’t expect a success overnight but he train himself with good understanding of the market before he engages and he also understands the risk of margin and leverage. Many Traders take their trades and go into trading without understanding the market as a holistic approach.
He also gets into financial literacy complete understanding; he believes success is always there if you have the patience for the market to come the way you want by understanding both Technical and Fundamental approach.
WHAT IS HIS SUCCESS RATE!! WELL RESULTS SPEAKS FOR ITSELF!!
WHY JOEL INVEST SO MUCH MONEY IN EDUCATION?
Joel invested his energy, time and money educating himself – from elementary to advance level education. Today many are following him and trading the Philippine Stocks Exchange, Global Currencies, Physical Gold and Business!!
We are very proud of Joel and his team; today Joel manages Ortigas Branch as a CEO and teaching others why Financial Literacy and WHY FINPACK program is a lot more reasonable and will enhance your life!!
“Success is not a Success unless it is repeatable” start your Journey with Joel!!
Article by: Ashok