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Stock Market Trading Secrets Pack
The purpose of this ebook is to introduce the forex market to you.
As with many markets there are many derivative of the central market
such as futures, options and forwards. For the purpose of this book
we will only be discussing the main market sometime referred to as
the Spot or Cash market.
The word FOREX is derived from Foreign Exchange and is the largest
financial market in the world. Unlike many markets the FX market is
open 24 hours per day and has an estimated $1.2 Trillion in turnover
every day. This tremendous turnover is more than the combined turnover
of all the wordls' stock markets on any given day. This tends to lead
to a very liquid market and thus a desirable market to trade.
Unlike many other securities (any financial instrument that can be
traded) the FX market does not have a fixed exchange. It is primarily
traded through banks, brokers, dealers, financial institutions and private
individuals. Trades are executed through phone and increasingly through the
Internet. It is only in the last few years that the smaller investor has
been able to gain access to this market. Previously the large amounts of
deposits required precluded the smaller investors. With the advent of the
Internet and growing competition it is now easily in the reach of most
investors.
You will often hear the term INTERBANK discussed in FX terminology. This
originally, as the name implies was simply banks and large institutions
exchanging information about the current rate at which their clients or
themselves were prepared to buy or sell a currency. INTER meaning between
and Bank meaning deposit taking institutions normally made up of banks,
large institution, brokers or even the government. The market has moved
on to such a degree now that the term interbank now means anybody who is
prepared to buy or sell a currency. It could be two individuals or your
local travel agent offering to exchange Euros for US Dollars. You will
however find that most of the brokers and banks use centralized feeds to
insure reliability of quote. The quotes for Bid (buy) and Offer (sell) will
all be from reliable sources. These quotes are normally made up of the top
300 or so large institutions. This insures that if they place an order on
your behalf that the institutions they have placed the order with is capable
of fulfilling the order.
Now although we have spoken about orders being fulfilled, it is estimated
that anywhere from 70-90 of the FX market is speculative. In other words
the person or institution that bought or sold the currency has no intention
of actually taking delivery of the currency. Instead they were solely
speculating on the movement of that particular currency.
Source: Bank For International Settlements https://www.tradebit.com Extract From
The Triennial Central Bank Survey of Foreign Exchange and Derivatives Market
Activity.
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| File Type | ZIP |