Forex Trading-How Can Individual Investors Benefit?

As a result of this new phenominon, start-up firms now compete directly with financial institutions to serve investors in the new technologically driven economy, and the clear winner is the customer. The competition between the brick and mortar institutions and the Internet-based companies has dramatically lowered the costs of investing, and empowered the individual investor to take control of their own investment strategy in Forex trading.We know Forex trading is direct access trading of currencies. In the past, foreign exchange trading was limited to large banks and institutional traders but recent advancements in technology have allowed small traders to take advantage of the many benefits of Forex trading using online trading platforms to trade. Virtually Forex trading is done 24 hours day and almost 5 days of a week. In the recent times, online trading has revolutionized the currency markets by making it accessible to the small and medium sized investor.

The Forex trading is perhaps the largest financial market in the world, with a daily average turnover of approximately $1.5 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another. The world's currencies are on a floating exchange rate and are always traded in pairs, for example EUR/USD or USD/JPY or USD/INR etc.

In the new millennium, the Forex trading has become accessible for an individual investor or small group of investors. In the current scenario, investors reap many benefits from Forex trading than stock market, e-mini futures and such other trading. Today mostly traders are choosing Forex trading than stock trading because there are approximately 4,500 stocks listed on the New York Stock exchange. Another 3,500 are listed on the NASDAQ. In spot Forex trading, you have 4 major markets, 24 hours a day 5.5 days a week. If you are so inclined, you have approximately 34 second-tier currencies to look at in your spare time. You can concentrate on the major forex and can find your trade. When you are investing in forex you can spend your afternoon on the golf course or with your spouse watching movie or celebrating holidays-in short it is easy and hassle free than stock/future market.

Not only is it an accessible, easy and less capital-intensive business opportunity, but it is much more cost efficient too to invest in the Forex market, in terms of both commissions and transaction fees. Generally, commissions for stock trades range from a low of $7.95-$29.95 per trade with on-line brokers to over $100 per trade with traditional brokers. Opposite to that, typically stock commissions are directly related to the level of service offered by the broker. At the high end, traditional brokers offer full access to research, analyst stock recommendations, etc. In contrast, on-line Forex brokers charge significantly lower commission and transaction fees.

The Nature of Currency and the Stock Market

Currency and currency investments change just as the trends in the stock market do. There are currencies which perform better in the stock market then others. There are several issues to take into consideration when choosing which currency you should trade with.

The most important points are the volume of that currency and the liquidity. These are both important because it will increase how quickly you can sell to ensure high profits or low losses. The most commonly traded currencies besides the American Dollar include: Japanese Yen, Swiss Franc, British Pound, and The Euro.

If you are a long term investor, a day trader, or a causal personal investor all these currencies have good liquidity, good trend performance (short and long term) as well as daily peaking for day traders.

While the focus by financial experts are usually on the big three: Euro, Dollar, Yen. There are other considerations which can increase your profits for the short term and offer solid long term trends.

The activity of a particular currency can not be a guaranteed an indicator of future performance is past performance. Below are a list of currencies and they associated "personality" in the stock market:

British Pound - The British Pound has a much smaller volume than the Euro or the Yen. This means short term trading with the British Pound needs to be kept to a minimum. Low opening interest rates combined with small volumes can cause unstable price spikes. However, the British Pound does very well in long term investing.

The Euro - If you are interested in and new to trading currencies, the Euro is the place to start. It has good volume, a high open interest, and is volatile enough that it can offer profits to the day trader.

The increasing popularity of the Euro makes it extremely safe to trade with it. The Euro is good for experienced traders as well as new investors.

Japanese Yen - The Japanese Yen is good for any long term investing. It can offer volatility for the day trader but it is much more erratic in it's daily behavior then the Euro and therefore much more unpredictable. The volume and interest is also high.

Swiss Franc- The Swiss Franc is similar to the British Pound - thin volume and low open interest. It's future viability is unknown because the Swiss economy is slowly becoming integrated into the European economy. It does have good long term growth which is ideal for any currency investor looking for long term trends.

Day trading with the Swiss Franc is out of the question, the volume is too low and there are no substantial daily spikes to make it worth while

Australian and Canadian Dollar - Both currencies are great for long term trading because each has low volume, low opening interest, and large price spikes. These currencies are good consideration if you are a currency trader and are seeking diversification away from the larger more commonly traded currencies.

A Brief Look at Forex Trading

Forex is the currency trading market which is the biggest and most quickly evolving markets in the world. Currently it has a daily turn over of of 2.5 trillion dollars which is actually one hundred times larger then the NASDAQ. Different markets are great ways to diversify your investments and trade different goods and services. The same is true with the Forex market in which the "goods" are actually currencies from around the world. Here you can buy Euros with American Dollars and sell Japanese yen for Swiss Francs. The profit is make in the difference between currencies values.

To make a profit on the Forex market investors only need one rule - buy cheap and sell high. The profit comes from the fluctuations within the exchange market for currency. The great thing about the Forex market is that it has regular daily changes and a fluctuations of 1% is actually multiplied by 100. For example if the exchange rate of your pair of currencies increases by 0.7% in 5 hours, the profit you make will be 70% of your initial investment. This can happen within a single day or a single hour. Trading the Forex market is extremely secure because you can never lose more than your initial investment. This is low risk when compared to the unlimited profit you could potentially gain.

You can choose your pair of currencies and your volume whether the market is moving up or moving down - and still make a profit. You can decide to buy Euro and sell dollar or buy dollar and sell Euro. Additionally you do not have to physically have the currency you choose to buy and sell. The easiest way to get started in the Fored market is to find a Forex market site, open an account, deposit your money, and begin trading. Most companies provide you with training, support, and advice.

Once you have all the necessary research in hand you are ready to make your first trade. You need to first select the pair of currencies that you wish to trade. Then you select the volume or the amount of money you want trade. Then you must deposition the collateral needed for the whole deal, usually about 1%. Most companies allow for a brief freeze period in which the consumer can adjust or cancel their deal. While the deal is running you can monitor the status and check for additional trading tips online. You still have the ability to change the terms, or cash out the profit to minimize loss. Forex trading companies allow an automatic take profit option which allows the investor to preset the rate at which you want to see and it will do it for you. That way you do not have to stay constantly online to monitors your trade.

Forex is a great trading market for new investors. The specifics of the currency trade are fairly straight forward and easily accessible to the general public. There is a low initial investment that way new investors can begin small and as they feel comfortable and work their way up to larger trades.

Trading Double Tops And Double Bottoms

Traders need to look out for indicators that make patterns that trigger long or short positions by following the trend reversal signals they give. Patterns like double tops and double bottoms are significantly important for a forex trader as it is for an equity trader.

What Are Double Tops and Double Bottoms
Double tops signal out a long drawn bearish trend. Double tops form usually close to the 52 week high with an intervening trough. Both the tops are roughly equal in price with the first having formed after long advance trending of currency pairs. Patient observation is critical here to pick the accurate tops without getting misled by fake tops. The declining trend after the second top finds a support near the intervening trough level which if broken is the signal for entering short positions or closing long. The target is equal to the difference to the difference between the tops and the intervening bottom. When perfectly formed, the double tops appear like the letter 'M'.

There are two things of importance when judging the double tops.
1. The first top should have formed after sufficiently long advance trending and the gap in between the tops must take at least a few weeks to a couple of months.
2. The second top must be within 3% of the first and breaking the support line is marked with high volumes under selling pressure.

Double bottoms are different from double tops in only one way that the pattern is exactly reverse of double tops. When accurately formed, the double bottoms formation appears like the letter 'W'. The trend following the second bottom is associated with increased buying pressure as reflected by the volumes chart. Volume further picks up once the resistance is broken effectively.

Entering in till the support or resistance is broken could be mistakes as has proved. Patience is the key in trading double tops and double bottoms. The exact entry levels are when the support/resistance is broken. Any anticipatory entry prior to this is a strategy that runs a high risk and the trader finds himself in an excruciating task of deciding where to get out.

For speculative traders, it is wise to put a 'stop-loss' just at the bottom or top respectively for double tops or bottoms, whichever the case may be. The amount of stop depends on the trader's personality and isn't a statistical function.

There are criticisms on trading double tops and double bottoms that they appear perfect only retrospectively and implementing them in real time is impractical. Even exiting the market early is unwise for the markets are not that simplistic.

The Fundamentals Of Forex Trading

If you are already a trader or is hoping to become one, sure you have heard about forex trading methodologies used by the pros and the like. You will either go by the fundamental trading or by the technical trading which most of them follow. Fundamental analysis places emphasis on critically examining the intrinsic values of currencies and the reasons to their movements regardless of their directions.

The Basis of Fundamental Analysis
For doing fundamental analysis of a particular currency, one needs to get deeper insights beginning from that country's political history, economic policies and performances, inflation for evaluating that currency's potential. These points are some building blocks of an economy. You can obtain such reports over internet. Scrutinizing the reports must indicate whether a country is progressing or not as it implicates large reversals in forex values in case of economic deviations from the norm.

Key Elements in Fundamental Analysis
1. GDP: Gross Domestic Product or the overall earnings of countries. The single most decisive parameter to judge whether countries are progressing. Uncertainties in GDP and GDP growth figures cause fluctuations in currency valuations.
2. Industrial Production: Higher the industrial production the better; better still if a greater chuck of the produce is exported which adds to which adds to the country's forex buying power adds to the forex reserve. As the reserve grows the local currency trends upwards.
3. Consumer Price Index: Tells whether the country is gaining or loosing on the export front when this moves up and down respectively.
4. Inflation Rate: Higher the prevailing inflation rate lower is the currency's valuation in the forex market because of its weakened buying power. You can correlate the trends in both of these.

There are several other indicators of equal importance such as the forex reserve, human development index, infrastructural growth, foreign trade in general and balance of payment (BoP) etc which needs to be given due importance.

How to Use These Indicators?
Economic indicators are mirrors of a currency's trending directions as much as they are a country's prospects in general. Governmental policies, annual budgets and credit & other financial policies are formally announced at definite times by various agencies. An analyst must have a country's economic calendar by his side in order not to miss out.

One must contrast the opposite country's fundamental parameters too. But the golden line in fundamental analysis is never to rush but realize that the released figures are often revised later. Trend setting changes through policy changes are likely to last longer than those indicated by technical analysis.

How to Identify Trending in Forex Trading

Currencies tend to trend more and fluctuate less violently unlike stocks which behave pretty much the different way. The reason for this is not hard to understand. Currencies trend depending on the countries' foreign and economic policies which are macro economic in nature and the currency pairs take fairly long enough time to react to any change in policies. Where as stock movements are more or less determined by microeconomic factors and market sentiments.

Euro/US Dollar: On Par at the Beginning
When Euro was brought into force its exchange rate was set officially at 1 USD a Euro. At that time there existed hardly any difference between the economies of US and the European Union. US had a GDP of $11.0 billion and European Union was pretty up close there at $10.5 billion. While US economy was growing at a good rate of above 3% per annum Europe was a bit sluggish and recorded slightly over 1.5%.

Gradual Shift In Favor Of Euro
But this was not coming in the way of Euro's gradual march ahead of US Dollar. Look at other key economic factors for yourself. US had a deficit budget and the balance of trade was negatively skewed against US while the European Union had some of the seriously good parameters in exact contrast to that of the US's. The trade balance sheets looked healthy and strong standing on the near equal GDP.

During this period India, China, Russia and Brazil were making big strides in economic growth and Europe was gaining position in their trade partnerships shifting the forex currency in Euro's favor. At a time when their reserves were growing by leaps and bounds, US Dollar was sliding continuously which contributed to the conversion of their reserves into Euro, but partially.

How Does The Market React To This?
Euro/USD is by far the biggest forex pair which accounts for $1 trillion every trading day. With so many changes in the world economic scenario and the notional trades in between the two currencies still commanding 1/3rd of the currency market, the US dollar trended constantly over the years.

The firm trend may not be apparent in short term price charts but a relatively long period chart such as 2-3 years would clarify Euro's constant gain against USD. Till recently cross currency payments were, say for Japanese payments to Germany, first by converting Yen into USD and then USD into Euro. Now such a necessity doesn't arise for payments.

Online Forex Trading Tutorial

There is an old adage connected to online forex and stock trading. It goes some what like this If you are inexperienced and have money and meet an experienced trader, but without money, you are likely to end up with experience and the experienced trader your money. There can be some semblance of truth in this but what this infers is trading without experience and strong fundamental knowledge of the market is an invitation to loss making.

Online Forex Trading Tutorial
There are several reputed online forex trading houses that cater to retail investors and traders. The same trading houses offer to train their prospective and existing clients on the nitty gritties of online forex trading most of the times free of cost.

What You Need To Learn About Online Forex Trading?
If you are a novice you need to start from the beginning. The macro economic factors that affect price volatility and the demand and supply of currencies that trigger the short term fluctuations which are your trading opportunities and most importantly the points of entry and exits form the basis of your learning.

Most of the online forex trading tutorials available require you to open a cost free demo/practice account so that you get exposure to either real time or simulated environment for better understanding.

Online Forex Trading Tutorial Curricula
You will see that, generally all the tutorials have more or less the same curricula. Basically speculations are made through a number of charts and indicators.
Chart Types:
1. Line chart
2. Bar chart
3. Candle stick chart

All these charts are price plots for selected periods. Then there are several indicators that help make decision. The important and most followed ones are

1. Average true range (ATR)
2. BOLLINGER BAND
3. Commodity Channel Index
4. Linear Regression
5. MACD
6. Momentum
7. Moving average
8. Parabolic time price
9. (ROC)Rate of Change
10. Relative Strength Index
11. Slow Stochastic
12. Standard Deviation
13. Stochastic

All charts and indicators are taught with sufficient demonstrations for self study. The tutorials deal with the patterns and formations made by charts/indicators and what they mean. While charts help you for short term speculative trading (technical analysis) they don't concentrate on the underlying reasons for price movements. This is the ground for fundamental analysis. The study of macroeconomic factors such as changes in government policies, wars etc that influence supply and demand, and as a consequence prices, constitute the fundamental analysis. These things are illustrated in contrast with demonstrative price movements.

Money Management – A Crucial Aspect of Trading

Many traders believe that the obvious way to make money is simply to have more winners than losers, but this is too simplistic, and what often trips up the unwary player is a lack of money management and attention to risk. Clearly, entering positions correctly and where to place stop losses are of great importance, but one area that is rarely examined because it is very complex is money management, and the reason is probably quite simple.

Certain trades or investments appeal to different people, and who is to know what their overall financial position is before giving them the correct advice on what amount to trade or invest. Furthermore, it is very easy for an investor to confuse a trade with a portfolio investment of stocks, or make a long term purchase but with one eye on a quick buck. For these reasons, money management rules must be adhered to for each trade.

A typical experience

One of the experiences many of the great traders have in common is that they blew a fortune early on, simply because they had no conception of money management. A typical story was that they had traded well, running a sum of say $10,000 up to $15,000 in six months, and they began to think that because they had a good trading system, they would have done better by leveraging up for super fast profits. In some cases they simply doubled up trading positions, but ran into a string of losses. As they did not reduce trading size accordingly, the account equity was wiped out and they ended up actually owing money within days it was that quick.

For sure, they probably were not limiting risk with stop losses, but in some cases the share or commodity gapped up or down, and just one big trading position was all it took to blow away months of hard work.

Extreme events and the problems they can cause

One of the more remarkable aspects of trading is the frequency of extreme events, but these are simply statistical anomalies which occur with random regularity (forgive the lapse into chaos theory, but it's important). There have been instances of a doubling of a share price overnight � this occurred with Psion twice in 1999. At the other extreme, there was a fall of 70% in a day with Marconi on the 21st March 2002, where they opened at 92.5p (adjusted for share consolidation), and the next day hit 27.5p. At the time, these were both FTSE 350 stocks at the time, and not small companies.

How to reduce the risk of wipeout

These might be extreme examples, but the bottom line is that events often happen when you least expect them. You must treat your trading account as distinct from all other investments, and once you've done this, there are three things you can do:

1. Accept that occasionally there will be an extreme event, so if the worst that can normally happen is a 30% fall on a profit warning, or an equivalent rise on a bid overnight, work out how much that would impact your equity.
2. Don't feel that by buying five blue chips of equal amounts, you've diversified your risk - if they are highly correlated i.e. high beta stocks, or they are all tech stocks, then it is virtually the same risk as buying five times the amount in one stock.
3. If your equity is falling, and statistically you can expect a run of eight or more losses in a row more than once within a typical trading lifetime, keep reducing your size until you start winning again.

How much should you risk on each trade?

From experience, if you aim to lose an absolute maximum of 5% of your account equity on one trade, and combine a wide range of trades in different asset classes with long and short positions, then you should have at least 20 consecutive attempts before it's time to give up.

So if you have to set a stop loss on a volatile share which is wider than normal, then simply reduce the trade size for that share so that your maximum loss is no higher than usual. Furthermore, if you do run into a string of losers, if you keep reducing position size, then your losses will slow down.

Finally, all trades should be treated in the same way, and if you don't feel that a potential trade looks as good as others in your list, then don't do it. The converse is that you must take every trade that fits your entry criteria, whether or not you have won or lost recently. The whole point is that a good disciplined system will only work when all trades are taken with equal amounts using realistic targets, stops and money management.

Make Money Forex Trading by Utilizing Volatility

Traders in the forex market are now a savvy lot. Almost everyone in the forex market nowadays are self trained in reading charts, or a user of some form of high technology software to trade the forex market. Some have graduated from using simple technical analysis to the new fangled sophistication of neural network forecasting and artificial intelligence. But yet a great majority of these professed experts fail in their trading, losing money from their trading rather than making profits. Why is it so?

The answer lies in the devil within. The traders who win are those who are capable of executing their trading plans with discipline and precision, and more importantly, they can cope with the VOLATILITY of forex trading.

Theory is if you can identify volatile movements, even if they are small, and execute trades with these volatile movements, buying on the lows and selling them at the peaks, you stand to make big profits. However, in practice, many volatile movements are too fast and tiny to be identified in time to be traded profitably. Where larger volatile movements are identified, it is error in judgment and the speed of execution of the trades that reduce the amount of profits.

When I was conducting research into writing a report on how a trader can recoup his losses after a horrendous period of bad trading, I was pleasantly surprised by a veteran trader who told me he was a profitable trader from day one of his starting trading. This is by no means a false claim, because this flamboyant trader has always been known both for his tremendous skill in trading and for being anything but decent about his skills and his ability to make the correct calls in the market.

Being surprised, I asked him what was his profession before he became a professional trader and a trading coach. His answer added to my surprise, because he said, " I was a professional poker player and the runner up in the Australian poker championship!".

Therein lies his great success as a forex trader as well, because as a poker player and a champion player at that, he was accustomed to taking calculated risks.

The secret to trading his style was to take calculated risks in his forex trading.

For example, if you have identified a trade, and you have placed a trade, do not place your stops too near the entry price because the odds favor the stops being hit most of the time.

Rather, you can assess the odds and probability of the stops being hit before you place them.

Again, when a trade presents itself, and you can compute that the odds of winning is in place rather than losing, it is then that you can increase your trades.

If you desire to win big, learn to compute the odds of winning, and like the successful poker player, bet big when the odds are in your favor and stay away from a trade where the odds indicate you will lose.
This is where forex traders will measure their risk-reward ratios for their favorite trade setups and can identify which trade setup will result in bigger profits and with lower risks. This is a skill that you ought to learn to become more profitable.

Foreign Currency Trading – F.A.Q. for Travelers.

Get your currency needs managed in advance. Many airports, railroad stations, bus depots, and other points of entry have no currency exchange. When currency exchange is available in airports, lines can be long and rates can be "sky high."

Aren't US dollars accepted everywhere?.

In the majority of countries, including all of Western Europe, only the local currency is accepted. Some tourist businesses, such as hotels, will offer to change money for you, but the rates you get can be much higher than you would pay if you were to complete your foreign currency exchange before you leave the US.
Business hours and holidays are not the same in other countries, and banks there may very well be closed when you expect them to be open.
You will need local currency to get into town.
When exchange facilities are available in the airport, lines are frequently long, and rates are often high. Also, many countries have no currency exchange facilities in airports, railroad stations and other points of entry.
Changing money before you go buys you peace of mind.

Can't I just change my money at my bank?

Compare the rates offered to those at from vendors listed above. Outside of major cities, foreign exchange is a very tiny business for US banks. Most branches don't keep foreign currency on hand. You'll have to order it from a main branch, pay in advance, and make two trips to the bank.

Can I take my bankcard instead of exchanging my money?

Depending on where you're going, you may be able to find many bank machines that will accept your bankcard.

However, you should be aware of some disadvantages of using your bankcard abroad. You cannot always be certain that you will find a bank machine that accepts your card. In addition you may be charged high network access fees and disadvantageous exchange rates.

Many tourist-related merchants, restaurants and hotels will accept your creidit card. Lately more of them will automatically ring them up in your home country's currency which makes it easy to see how much you are actually paying. The challenge is that you may get socked with a dismal exchange rate�considerably higher than if your card provider were making the conversion.

How can I transfer funds internationally?

You can transfer funds directly into another account or you can transfer funds by Bank Draft�essentially a Bank Check written in a foreign currency. Also known as an International Draft or International Money Order, they can be deposited directly into a foreign bank account. International payments can be made with a wire transfer, also known as a Money Transfer. International Wire Transfers can take 3 to 10 business days. A Foreign Curency Draft can be used to pay suppliers or vendors internationally.

How about foreign curency trading?

Currency trading is the simultaneous exchange of one country's currency for that of another for the purpose of hopefully making a profit. Currency markets offer 24-hour trading, high liquidity and low transaction costs which may make it attractive for stock, futures and options traders.

You'll want to limit risk with stop and limit orders. While it is possible to leverage currency trading transactions, remember that leverage exaggerates both gains and losses and can generate large gains and losses even when market conditions are relatively calm.

Getting Into The Lucrative World Of Forex Trading

For many years the foreign exchange market was the preserve of major players such as national banks and multi-national corporations. In the 1980s however new rules were introduced which permitted smaller investors to enter the market through a margin account. In simple terms, a margin account allows you to trade with more money than you actually have in your trading account. For example, a 100:1 margin account allows you to participate in trading up to $100,000 with an investment of only $1,000.

Now, although this entry level has clearly opened up the market to the smaller investor, care needs to be taken as Forex trading is not an easy undertaking and is certainly not without its risks. For this reason the very first thing that any novice trader needs to do is to sit down, study the foreign exchange markets carefully and learn the ins and outs of trading before putting any money at risk.

In addition to some basic training, the newcomer will also need to find a good broker as all trading must be conducted through a broker. Here a personal recommendation is often the best place to start but, in the absence of this, you should choose a broker who is registered with the Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM). This will provide you with protection against both abusive trade practices and fraud.

It is normally a fairly simple process to open an account with a broker and once this has been done and funds have been added to your account you can begin to trade. Brokers will normally offer a number of different accounts to suit individual clients and most will have "mini Forex accounts" which will allow you to begin trading with as little as $250. The margin on which you the broker will permit you to trade will vary from one account to the next.

One thing that you should always look for when your are selecting a broker is the ability to cut your teeth by carrying out simulated, or paper, trades for a reasonable period of time. This is a facility which the vast majority of good brokers will provide and which simply allows you to trade in the normal manner but to do so on paper and without any money changing hands until you have found your feet. Many of the online brokers provide simulated trading accounts which allow you to make free paper trades for up to 30 days.

One of the things which worries a large number of newcomers to the world of Forex trading is the subject of trading charges and brokerage fees. Unlike many of the other markets, the Forex market is free of commission and so you can make as many trades as you like without worrying about running up huge brokerage fees. Your broker will make his profit from the 'spread' on each trade, which is simply the difference between the buying price and the selling price of a currency pair and is a subject all of its own.

Forex Trading Is The Greatest Business Ever

Forex Trading is the paramount home-based corporate potential available at the moment, and maybe even in past. Let me show you why.

We just want to be clear about who this article is heart written for. Anyone looking to start a home occupational, or line of business, without risking a lot of wherewithal, but who is cooperative to put in the time obligatory to realize his or her .

Forex Trading vs. Real Estate

One of the more fashionable home based professional opportunities is real estate.

Let's take a look at some of the more disagreeable of the real estate business.

Real Estate:

Amount of Money Needed to Begin:

Regardless of what the have to say, it expenses a great deal of bread to get into the real estate business. Even the "No Money Down" systems expose you to an mind-boggling amount of risk.

Whether you put coins down or not, you are in control to pay for the "product" you are purchasing.

If you are unable to find a way to yield revenue from your savings quickly, you will be paying a loan fee. It only a few months of secured loan to turn "No Money Down", to "Some Money Down", to "No Money Left".

Amount of Time Needed to Begin:

Another lie continual on advertisement after promo is that it only takes a few a week to start off making ready money in the real estate commercial.

We don't want to preach for anybody else, but whom do they think they are kidding. So, let me get this plain...

? for a home operational
? spoken communication to a
? pouring around your neighborhood
? speech to a hypothecation whiz
? and all of the new possessions you have to do on EACH AND EVERY HOUSE

All of these, combined, will only take me a few hours a week?

We think we are starting to see why such a generous majority of home based businesses fail. It's misleading to suppose a halfhearted attempt will lead to success.

Amount of Knowledge Needed to Begin:

In order to triumph in the real estate professional you have to obtain a wealth of wisdom. How do you fairly importance a home? How long will it take to fix, and sell, a home? How much should lumber cost? How long does it take to establish a sink?

Those are the easy questions. Zoning laws, contract laws, and tax laws are just some of the more complicated topics that you'll need to figure out.

The fact is, we can maintain writing about the knowledge you need for days. Obviously, in order for you to climb the ladder in real estate you need a wealth of facts.

Amount of People Needed to Begin:

Unless you are completely recurring with all of the real estate occupational now, you will run into one of a few problems:
1. The amount of time it take you to become well-known with all sides of real estate.
2. The amount of big bucks it would cost you to FAIL at the real estate corporate.
3. Most have a tendency to, the amount of riches it cost you to build a team of people who are alacritous to "segment" their data with you.

Experts don't come bargain-basement, and without them you are helpless. In our opinion, this is one of the supreme shortcomings of the real estate business.

Your success, in the end, lies in the of others. We can't strain this plentiful...you monetary yet to come is dependant on the performance of a complete stranger.

Forex Trading;

Amount of Money Needed to Begin:

Nothing. Zero. Zilch. Nada. $0.

If done right, you should not risk any change when erudition to customers the Forex. Again, we conjecture it's only fair for us to enlighten. Without getting too methodical, we want you to realize one very crucial promontory.

Whether you are trading with $1,000,000 or $0, the word and know-how available to you is alike. You can procure the assistance and familiarity de rigueur free.

Not only is this uncommon in relationship to other home commercial, it's also inimitable in kith and kin to additional trading markets (There will be an entire commentary explaining the dole of the Forex vs. any of the another markets).

Amount of Time Needed to Begin:

Before into the retort, exclusively, we think it's weighty that you get the picture one more view exceptional to the Forex. Twenty-four a day trading. That's right, Forex are trading 24 hours a day, from Sunday night to Friday after lunch.

How does this help in the question at hand, how much time is needed to set up Forex trading?

As we've mentioned past, in order to weekend break into the real estate corporate requires a key commitment of time. Most of which has to happen between 9 AM and 5 PM. The fact is, you can't verbalize to a realtor at 3 AM. Everything you do has to be around bigwig else's schedule. That means that 40 hours of work could take you 4 weeks.

Those same 40 , while culture Forex Trading, potency only take you 2 . All you need is a computer and an internet linking. In calculation, since there is substantially less to hit the books in order to come off at Forex Trading, 40 of work will put you much closer to success then it would in real estate.

Amount of Knowledge Needed to Begin:

As a Forex broker you only need to secure the experience that will be required for you to make stock trading.

Why does this concern?

Let me resolution this with an case in point. Why do my plants need sea? Actually, we don't know. To be more correct, none of us in point of fact . However, we do know that if we don't aquatic them, they die. That fact deserted gives me enough reason to water my plants.

This hypothesis holds true in the Forex markets. With all of the data available universal, it's easy to get caught up in the non-high-ranking . Like, why do my plants need marine? However, all you need to know are the thorough to take in order to thrive. Like, river your plants.

This radically boundaries the amount of time you must advance in knowledge to employment the Forex.

Amount of People Needed to Begin:

Well, to shot Forex trading only you. To flourish at Forex trading takes you and an educator. Combining two pieces creates one of the puzzles around.

Imagine tiresome to gather 2 + 2 = 4 without the guidance of a lecturer. None of us would ever hold this undemanding subject if left abandoned. In fact, we wouldn't be able to communicate at all without the examples set onward to us by our maternity.

Forex Trading

The forex (short for foreign exchange) market is one of the largest independently governed markets in the world. No single country has a say in the way the forex market works and every day billions of dollars change hands in the forex market. Forex trading is possible 24 hours a day, 7 days a week, 365 days a year, and unlike the stock exchange the forex market does not close or open for trading. Interestingly, forex trading is based purely on trust; there are no clearing houses or guarantors involved. A forex trader is forced to keep his word not because he is bound by any legal contract but because he has a reputation to keep. Arbitration committees have been set up in most countries and forex traders accept decisions of the committee if any disputes arise. However, a trader is in no way legally bound to accept the arbitration committee's decision.
In the US, arbitration of forex trading is carried out by the National Futures Association or the NFA. Contrary to popular belief, a forex trader does not make money via commission on each transaction, the forex trader makes money on the difference between buy and sell value. In essence, a trader makes money by facilitating the transaction since the buy and sell rates are regulated by the government. This is why the forex traders are called traders and not brokers, as they are not brokers in the traditional sense of the word (brokers earn money by asking for a brokerage fee).
To better understand the concept of forex trading lets take an example, lets assume a forex trader buys 10,000 at an exchange rate of $1.5 per euro. This means the forex trader has invested $15,000 in the forex market. A trained investor will keep his eye on the market, and when he receives a favourable exchange rate he will probably sell the 10,000 at an exchange rate of $1.8 per euro. The $15,000 investment has now translated into $18,000, a profit of $3,000. However, there is no way for the forex trader to know for sure if the euro will strengthen compared to the dollar and he can also incur a loss of $2,000 if the exchange rate goes down to $1.3 per euro.
Forex trading is a high risk market, but unlike the stock exchange the price of a particular foreign exchange rarely drops overnight. However, there can be fluctuations which can result in profit or loss. In the example above, the euro/dollar exchange rate can exhibit the fluctuations mentioned in a single day; this means a forex trader has to be alert and keep an eye out for fluctuations in the market. Unlike the stock exchange, no single person can influence the forex market. No matter how large an investment a forex trader makes, it will never be enough to impact the exchange rate. The stability of the forex market has made it a favourable investing ground, and it is now possible for people to make smaller investments and make money from forex trading.

Forex Trading Is The Supreme Home Business

Forex Trading is the extreme home-based professional potential available at the moment, and maybe even in description. Let me show you why.

We just want to be clear about who this piece is mortal written for. Anyone looking to start a home commercial, or calling, without a lot of greenbacks, but who is ready to put in the time compulsory to achieve his or her .

Forex Trading vs. Real Estate

One of the more popular home based corporate opportunities is real estate.

Let's take a look at some of the more disagreeable parts of the real estate business.

Real Estate:

Amount of Money Needed to Begin:

Regardless of what the infomercials have to say, it overhead a great deal of bread to get into the real estate professional. Even the "No Money Down" systems expose you to an remarkable amount of risk.

Whether you put cash down or not, you are guilty to pay for the "product" you are purchasing.

If you are unable to find a way to food revenue from your savings quickly, you will be a bank loan disbursement. It only a few months of second mortgage payments to turn "No Money Down", to "Some Money Down", to "No Money Left".

Amount of Time Needed to Begin:

Another lie repetitive on commercial after promo is that it only takes a few a week to instigate making equities in the real estate commercial.

We don't want to express for anyone else, but whom do they think they are . So, let me get this conservative...

? for a home connected
? speaking to a
? compelling around your neighborhood
? spoken language to a home equity loan specialist
? and all of the other gear you have to do on EACH AND EVERY HOUSE

All of these, combined, will only take me a few hours a week?

We think we are starting to see why such a overweight popular of home fail. It's misleading to credit a try will lead to success.

Amount of Knowledge Needed to Begin:

In order to follow in the real estate business you have to find a wealth of data. How do you fairly consequence a home? How long will it take to fix, and sell, a home? How much should lumber cost? How long does it take to settle down a sink?

Those are the unpretentious questions. Zoning laws, treaty laws, and tax laws are just some of the more complicated topics that you'll need to know.

The fact is, we can renew writing about the understanding you need for days. Obviously, in order for you to do well in real estate you need a wealth of knowledge.

Amount of People Needed to Begin:

Unless you are completely intimate with all of the real estate occupational even now, you will run into one of a few problems:
1. The amount of time it would take you to become familiar with all sides of real estate.
2. The amount of affluence it cost you to FAIL at the real estate corporate.
3. Most expected, the amount of capital it cost you to build a team of people who are helpful to "portion" their information with you.

Experts don't come common, and without them you are helpless. In our opinion, this is one of the utmost shortcomings of the real estate professional.

Your success, in due course, lies in the of others. We can't accent this ample...you commercial upcoming is dependant on the performance of a complete stranger.

Forex Trading;

Amount of Money Needed to Begin:

Nothing. Zero. Zilch. Nada. $0.

If done right, you should not risk any funds when culture to craft the Forex. Again, we guesstimate it's only fair for us to expound. Without getting too specialist, we want you to fathom one very chief head.

Whether you are trading with $1,000,000 or $0, the material and knowledge available to you is like peas in a pod. You can attain the expertise and erudition crucial free.

Not only is this uncommon in relationship to extra home based corporate, it's also exceptional in relation to fresh trading markets (There will be an full artifact explaining the assistance of the Forex vs. any of the new ).

Amount of Time Needed to Begin:

Before diving into the response, distinctively, we think it's influential that you appreciate a further view sole to the Forex. Twenty-four hours a day trading. That's right, Forex markets are trading 24 a day, from Sunday afternoon to Friday evening.

How does this help in the question at hand, how much time is needed to initiate Forex trading?

As we've mentioned prior, in order to holiday into the real estate commercial a chief commitment of time. Most of which has to come about between 9 AM and 5 PM. The fact is, you can't speak to a realtor at 3 AM. Everything you do has to be around name else's schedule. That means that 40 of work could take you 4 weeks.

Those same 40 hours, while scholarship Forex Trading, powerfulness only take you 2 . All you need is a computer and an internet relation. In accumulation, since there is substantially less to mug up in order to be successful at Forex Trading, 40 hours of work will put you much closer to success then it would in real estate.

Amount of Knowledge Needed to Begin:

As a Forex buyer you only need to procure the learning that will be mandatory for you to make means trading.

Why does this stock?

Let me way out this with an standard. Why do my plants need aquatic? Actually, we don't know. To be more clear-cut, none of us in point of fact . However, we do know that if we don't river them, they die. That fact alone gives me enough reason to water my plants.

This theory true in the Forex markets. With all of the figures available wide-reaching, it's easy to get caught up in the non-prominent factors. Like, why do my plants need sea? However, all you need to know are the exact steps to take in order to succeed. Like, marine your plants.

Forex News Trading Tip: How To Trade The FOMC

The Federal Open Market Committee (FOMC) decision on interest rates is one of the most powerful market movers in the forex market and when the markets move traders trading the news have the opportunity to make money.

The FOMC sets the discount rate or federal funds rate and because interest rates are set higher to induce foreign investment and therefore fight inflation during times of prosperity and lower to increase spending during recessions they are one of the main factors influencing the strength of the dollar.

Economic indicators play a huge role in the forex trading especially for traders who approach the market through fundamental analysis and trade the news. The Federal Open Market Committee (FOMC) interest rate decision is one of the most influential indicators for the US dollar and you can be sure after the news is released there is going to be volatility in the markets and volatility is what traders thrive on.

I have heard many 'traders' say never to trade the news and especially the FOMC. Although the FOMC interest decision is a news event and can fall under the category of through fundamental analysis I am a technician and I believe that charts always price everything in. However I guarantee the market does not know what exactly the Feds comments and decision will be, therefore it is not priced in yet and this will cause the markets to react when they do find out. This is confirmed by the change in price after the decision and the continuation in the days following.

I have been trading the Fed for eight years now and yes I have been burnt in the past and that is exactly how I have come to learn how to trade it properly. The most common pattern to trade the Fed is the whip-saw. But do not be fearful of it, embrace it. Here is how it happens, first there is a large spike one direction (traders come in and follow that direction)followed by a large spike in the opposite direction (those same traders now sell their first position at a loss and reverse their position - this is when I take a position in the direction of the original move)followed by an extended move back in the direction of the original spike (all the emotional trades are left sick to their stomachs) and I am left holding a very nice position setting myself up to capture a larger than average market move.

If this pattern does not play out exactly as outlined I stand on the sidelines and do not trade at all. Because the markets are moving fast in the period following the FOMC interest rate decision I am watching a very short time frame, mainly the one and five minute charts.

Online Currency Trading requires Patience

When the going gets tough, the tough get going. This adage often brings back the memories of my past days when I was trading initially in the currency exchange market. Indeed, there's nothing more hurtful than losing your invested money in the FX market. But, online currency trading is like life where you've got to learn from your wrong moves and keep moving on. Learning the basic skills of online forex trading could be easy but, practically, one needs to acquire the advanced skills to play safe through thick and thin of FX trading.

I have traded in forex for many years and, if you count on me, I must tell you that the secret of successful trading lies largely on the hunch and intuition of an trader. Technically expressed, you should have the accurate forex alerts and forex signals to be able to make the right moves in the currency market. However, this is easier said than done as the skills of the Currency Trading Signal takes a long time to master. This is why while a few people are able to boost their forex pips in a short span of time, the others take a long time to achieve the same or maybe, some of them get frustrated and just give it up! The reality is that not many people are ready to be entirely devoted to the perilous process of online forex trading.

Having said this, I still wonder why some people choose to be a dare-devil and risk their money instead of simply following an established and renowned Account Forex Online Trading. I began trading in 1997 and there is one important thing I have learnt in my trading career so far, i.e., you have to got to be patient to learn the tricks of making right moves at the right times and profit from your trading.

Since I have led quite a successful career in forex trading, I have been sharing the tips and tricks of online currency trading with many traders around the world through my G7 Forex Trading System which as you know has remained pretty successful for many traders so far. My G7 Forex Trading System is an easy-to-follow, step-by-step trading manual offering in-depth online forex trading review.

Can the online Forex trading reviews satisfy your needs?

People that are very keen on knowing how Forex trading is done should consult broker reviews here they will find all their answers. Most online Forex trading reviews can answer their questions regarding things such as softwares used, guides or courses. An increasing number of people is very interested in entering Foreign exchange trading, believing there is big time money in that.

There is so much out there to learn about the Forex in order to trade traditionally. Before they were introduced to the Forex most people barely even knew what it was all about. Being introduced to revolutionary systems has changed their lives consulting online Forex trading reviews, trying free demos, managing their accounts all these have turned them into successful brokers.

Different people think different systems are the best when it comes to trading on the Forex. However, besides reading the online Forex trading reviews you should take advantage of the 15-Day free trial so you can experience for yourself how it works this is one of the smartest ways beginners can trade in the market.

Broker reviews advise people to turn to systems that can ease their work. For instance, a very good system would be one where:
- The automated system does the trading for you;

-There are no charts, no graphs and no guesswork;

-You spend up to 20 minutes per week managing your account;

-You can structure your trading to buy low/sell high;

- You can collect daily interest on leveraged money;

-You have full, 100% control over your money.

Such systems do most of the work for you, so that you can spend a minimum amount of time managing your account. Although you are managing your account hands on, you will not learn about the market easily. The online Forex trading reviews may advertise such systems, but you should know they will not be much help if you want to learn by doing everything yourself. If you are such a person you should look for more detailed Forex guides.

You should keep in mind there is one problem when it comes to choosing a system: virtually every platform has someone warning you it is a scam. Broker reviews can guide you to safe systems; they usually rate them having in mind the ease of use regarding limits, stops, fast trade execution etc. But please remember that different people may want different things from a certain system, so the best thing to do is try it, as we have previously mentioned it.

There are people who think you do not need software, but you need to spend a little of your precious time doing your own research on different sites, learning about the Forex market and how it works. These are the same people that say that most of those software presentations are scams because they use indicators that you can easily get from any basic trade station. What they don't say is something all broker reviews say: that such software is meant to be used by beginners and by people who do not have the time or the patience to fully understand the market.

Online Forex Trading Tips for Success

In recent times, we hear different buzzwords when it comes to home businesses. One of them is Forex trading, a business opportunity that could be profitable and should certainly never be overlooked. Since the Internet is available to millions of people worldwide, Forex trading is all the more accessible. Furthermore, as the transaction costs are considerably low and many without commissions, almost anyone can opt for this great opportunity for making money.

Even though online Forex trading could be very confusing for beginners, it has distinctive benefits over other types of investment opportunities and can be used to great effect. However, it is essential for profitable Internet Forex trading, especially for individuals with lack of experience to be aware of certain elements. There is a very thin line between success and failure, and the following tips will help you achieve the former �

Research: There is nothing worse than knowing zilch about trading and venturing into it. Applying the same principle to Forex trading could be more comprehensible as many people venture into this field and end up attracting risks. If you lack prior experience or knowledge about the different currencies, the transactional requirements, or how to trade them online, currency trading can be difficult. Before you start trading forex, you should do some reading and get a good forex education. This not only helps in understanding the business, but also the benefits. You can also refer to online trading books that include free trials of trading software and tips on making profits out of currency trades.

Analyze past currency patterns: Avoid participating in Internet Forex trading until you have sufficient knowledge and understanding of the transactions. Many websites and books are available that give you additional information. Since Internet Forex trading relies on supply and demand of currencies, it essential to know the change in trends of a particular currency. If a currency has previously shown steady performance, then it is possible to profit from the continued move and if it is irregular or trading in a channel, then it becomes more difficult. Many forex traders wait for the channel to be broken to see which way the currency goes before making their trading decisions.

Monitor news: You should keep a watch on the news while when you conduct Forex trading. If you have invested heavily in the dollar, then you may have to hang on to the currency for a while to gain profit out of it. Political and economical decisive factors make a huge difference in trade when it comes to determining the value of different currencies. You can get to know more about this through the financial and business news that not only provides information about Internet Forex trading but also how to profit from it. The best traders use both forex technical analysis and fundamentals to base their trading decisions.

Keep away from algorithmic trading until you gain experience: Algorithmic trading is one of the trends combined with Forex trading. According to the trend, an individual has to work towards a certain formula when calculating the currency he or she wishes to buy or sell. Nevertheless, novices are best recommended to attempt small trade, rooted in historical perspectives to manage Internet Forex trading before testing methods that are more complicated. The more you practice trade in the Forex currency trading market, the better you would become. Eventually even before long you realize, you will be a real Forex trading pro benefiting from all the profits.

Know the currencies: There are about 15 various currencies that one can deal in while trading in the Forex market, which means that you would have various options and policies applicable too. Moreover, as the Forex market matures the amount of currencies accessible also grow. This widens the availability of options to traders, expanding the number of people that trade and making execution of a given transaction considerably easy.

Win with Hedged Currency Trading

No-Stop, hedged, Forex Grid system trading is one of the most misunderstood techniques in forex trading. I am going to describe the No Stop system as best I can in the limited space available. There is a series of 7 other articles describing the elements below in greater detail.

There are many hedged systems around and the No Stop system below is one that is being traded profitably.
The No Stop system is an investment technique which creates favourable dollar cost averaging on all transactions entered into. For this reason the technique is too much of a paradigm shift for most conventional traders who like charts, support and resistance and indicators.

It is strictly speaking, it is not a trading technique. It has however become very popular as a trading technique because of the short term gains that can be made.
The No Stop system trades without stops. No stop loss orders are used at all except for when a group of transactions have a positive result and we want to liquidate the entire group of transactions at a net gain. Because the No Stop system cashes in its transactions regularly it becomes a trend following No Stop system too. There is no need for charts when using this No Stop system as we use predetermined price levels to cash in transactions positively (The No Stop system loves price spikes).

Transactions can or should be slow at a rate of about 3 to 4 a week. As price levels are determined well in advance orders can be placed well in advance so the No Stop system takes very little supervision. The technique is highly systematic and can easy be converted into an automatic trading system or expert advisor very easily.

The No Stop system is always in a sell and a buy at the same time and therefore can cash in on any move the market makes. Being in a sell and a buy at the same time also created a hedge. Predetermined cash in levels create a grid of price levels there positive transactions will be cashed in continuously until the group of transactions are profitable.

In simple terms you will enter the market at a particular level with an active bay and a sell. You would have predetermined levels at which you would cash in positive transactions. For instance one could decide to cash in on every 100pip (grid gap) move made in the market. When the price moves 100 pips you would cash in your positive transaction and then enter into another buy and sell transaction at that point. This process will continue until the total for the group of transaction is positive and then you would liquidate. You would then start again as simple as that. No need for charts. Patience is the biggest virtue required.

Money is made when the price revisits some of the cash in levels over and over and over again (which it does).

In the above example should the price return to the starting level (after moving 100 pips) the group of 4 transactions in total will be positive and you would then cash in the unwanted transactions, bank your profits and start again.

The big danger of this No Stop system is strong trends with no or very few retracements. You will lose money in trends. There are however specific techniques to manage and contain these losses.

The biggest one is to start with a big grid gap. What is a trend on a 5 minute chart could be a small spike on a daily or weekly chart. Grid gaps of between 150 pips and 300 pips have been found to work well.

One could also vary the grid sizes relative to the trend to reduce the number of unhedged transaction. For example have grid gaps of 100, 200, 300 etc.

The other way is to vary the number of lots used when entering into the buy and sell transactions at a particular cash in point to ensure balanced hedging.

Trends tend to scare people away from this technique but if one views this as an investment technique and not a trading technique the trends could have a reduced impact on the annual return on investment. The market only trends 20% of the time any way. Talking about return on investment some current trading groups are showing returns of between 200% p.a. and 1000% p.a. on current investment levels. There are many trading records are available to back this up. The longer you trade this No Stop system the lower your risk and the better your return. That said, you can lose more than just your boots (your whole trading account) if you treat this No Stop system with disrespect.

Success factors for this No Stop system are: - Selecting appropriate grid sizes, currency pairs, lot sizes, cash in times and an investment mentality. All very easy, if you have done it for a few years.

Forex trading, where do customers go?

Forex trading uses currency and stock markets from a variety of countries to create a trading market where millions and millions are traded and exchanged daily. This market is similar to the stock market, as people buy and sell, but the market and the over all results are much much larger. Those involved in the forex trading markets include the Deutsche bank, UBS, Citigroup, and others such as HSBC, Braclays, Merrill Lynch, JP Morgan Chase, and still others such as Goldman Sachs, ABN Amro, Morgan Stanley, and so on.

To get involved in the forex trading markets, contacting any of these large broker assistance firms is going to be in your best interest. Sure, anyone can get involved in the forex market, but it does take time to learn about what is hot, what is not, and just where you should place your money at this time.

International banks are the markets biggest users on the forex markets, as they have millions of dollars to invest daily, to earn interest and this is just one method of how banks make money on the money you save in their bank. Think about the bank that you deal with all the time. Do you know if you can go there, and obtain money from 'another' country if you are heading out on vacation? If not, that bank is most likely not involved in forex trading. If you have to know if your bank is involved in forex trading, you can ask any manager or you can look at the financial information sheets that banks are to report to the public on a quarterly baiss.

If you are new to the forex market, it is important to realize there is no one person or one bank that controls all the trades that occur in the forex markets. Various currencies are traded, and will originate from anywhere in the world. The currencies that are most often traded in the forex markets include those of the US dollar, the Eurozone euro, the Japanese yen, the British pound sterling and the Swiss franc as well as the Australian dollar. These are just a few of the currencies that are traded on the forex markets, with many other counties currencies to be included as well. The main trading centers for the forex trading markets are located in Tokyo, New York and in London but with other smaller trading centers located thought out the world as well.

What is Online Forex Trading Really About?

What is Online Forex Trading Really About?
The foreign exchange market which is popularly referred to as forex is primarily concerned with the trading of currencies of different countries of the world and this trading is based on an exchange rate or a relative value which is determined more often by various external factors.

Online forex trading refers to the trading of currencies or foreign exchange which is facilitated with the aid of the wide network known as the internet. It must be noted that internet marketing is extremely conducive to trading as it is open for the entire day except on weekends and since the internet transcends geographical boundaries, the range of investors are also not limited and therefore the rate of trading is also high..

The primary requirement in case of online forex trading is to ensure an online trading platform which is available in the form of a trading portal which is supported by an alluring and user-friendly interface and this is to be supplemented by the presence of charting and technical details to aid the investor.

Physical trading versus the Internet
In case of forex trading in the internet there is virtually little difference in functioning as in forex trading there is no physical exchange of currency involved and all forms of transactions are deducted or added directly to the account of the investor.

A significant function of the forex software is to quote forex rates, which are rates that can be used for trading and are not synonymous with the bank rates and it is also necessary for the forex software to ensure that the present exchange rates are also displayed from time to time following alterations.

In this case the user does not require installing or downloading any form of other software applications. The availability of an internet connection is enough to provide them access to the web-based user interface.

Forex trading background
Initially, the value of goods was expressed in terms of other goods, i.e. an economy based on barter between individual market participants. The obvious limitations of such a system encouraged establishing more generally accepted means of exchange at a fairly early stage in history, to set a common benchmark of value.

In different economies, everything from teeth to feathers to pretty stones has served this purpose, but soon metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value.

Originally, coins were simply minted from the preferred metal, but in stable political regimes the introduction of a paper form of governmental IOUs (I owe you) gained acceptance during the Middle Ages. Such IOUs, often introduced more successfully through force than persuasion were the basis of modern currencies.

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