FOREX trade curriculum

Region	City	Winter time		Summer time
		Time according to GMT
		Open	Close	Open	Close
Asia	Tokyo	0:00	8:00	0:00	8:00
	Hong Kong	1:00	9:00	1:00	9:00
	Singapore	1:00	9:00	1:00	9:00
Europe	Frankfort	6:00	14:00	5:00	13:00
	Zurich	6:00	14:00	5:00	13:00
	Paris	6:00	14:00	5:00	13:00
	Lomdon	7:00	15:00	6:00	14:00
America	New York	13:00	21:00	12:00	20:00
	Chicago	14:00	22:00	13:00	21:00

Current interest rates for the main world currencies

USA	5.25%
Japan	0.25%
EU	3.50%
Great Britain	5.00%
Switzerland	2.00%
Australia	6.25%
Canada	4.25%
New Zealand	7.25%

USD/JPY by Deutsche Bank

According to Deutsche Bank USD/JPY exchange rate will continue to grow. Now it’s 117.35

FOREX EUR/USD for 12/13/06

Yesterday FOREX EUR/USD closed at 1.3225. EUR has decreased comparing to dollar. It seems that the main factor was the publication about increased retail sales. On Wednesday the US Ministry of Trade announced that retail sales increased by 1,0%. It’s much greater than predicted earlier 0,2%. The whole November was really outstanding for US economy.

Market or traders?

One of the most important things one has to understand about the Forex market is hidden in the following idea (as I think). In order to earn money the trader doesn’t need to be cleverer than a market in general. You need to beat the other Forex traders. Not all of them! But you need to beat at least 50%. If you make right predictions and forecasts in more than half of you decisions you’ll get the money. I want to share my opinion why this happens.

When many people think that currency will grow they star buying it. As a result the demand at FOREX market increases and the currency price grows. As traders see this they start selling in order to get their money with profit. As many people sell supply increases and prices fall… so, the first half of traders earns money, but the others loose’em. It’s like: first come – first served :-).

One more time – don’t try to beat the Forex system. Your winning strategy is hidden in the opportunity to react faster than the others!

Pro FOREX trading

Most of us have to earn money for living. Trade was one of the easiest businesses forages. But during centuries merchants sold goods, later services - something worth of some value. But as time passed goods and services became not enough. Businessmen wanted to sell easier. I mean – to get money from trade without any other additional responsibilities – no warranty, no disappointed customers and so on… Stock market and FOREX became the best answer to these requirements… Till today… And not only because it sounds interesting but for some really economic reasons.

Big opportunities are provided by financial currency markets as experts evaluate their size appr. $2 trillion per day. This tremendous size result in liquidity of that kind of business (investor can return his/her capital rather easy and without loosing much money as it may happen when you trade goods and demand falls). On the other hand this market is very close to the ideal model of perfect (pure) competition with all its advantages. Almost everybody can have access to complete and correct information and nobody can be enough big to influence the prices and situation in general. So, the conclusion: most of economic laws work correctly and investor can use them to forecast the situation for the upcoming period.

By the way liquidity of forex trading comes from easiness of entry. You can start trading with $200 and this amount is decreasing. Last year it was $250 (decreased by 20%). I think in 10 years it’ll be less then $100 because of competition between different companies providing forex accounts :-). At the same time profit potential is unlimited. And the opportunity to trade doesn’t depend on time and economic situation in the country or world economy in general. It happens because forex trade can earn money either when currency goes up or down.

Why FOREX trading? Pourqua pas….

Forex trading becomes more and more popular as more people involve themselves in this kind of business. Here, on this page I’m going to collect different points of view, success stories and disappointments. And certainly I’ll highly appreciate any possible contributions and comments.