Forex Empire – Earn your stripes

Forex Empire – Earn your stripes

Forex Introduction – In school we have learnt all about charts, chart analysis, statistical analysis. Those same teachings can be transferred to the Forex and Binary Industry

We at Binary Umpire feel it important to educate our viewers on the principles behind the industry. To be successful about this industry the key really is ‘CONSISTENCY.’ Its a marathon not a race. Take your time and the rest will follow.

‘Forex’ or ‘FX’, is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Quite similar to when you travel abroad and have to deal with other currencies.

Unlike most financial markets, the OTC forex market has no physical location or central exchange and trades 24-hours a day through a global network of businesses, banks and individuals. This means that currency prices are constantly fluctuating in value against each other, offering multiple trading opportunities.

One of the key elements behind forex’s popularity is the fact that forex markets are open 24-hours a day from Sunday evening through to Friday night. So the enticement to trade is always there. However, knowing when to trade and when not to trade is is very important.

Foreign exchange is a leveraged product, which means that you are only required to deposit a small percentage of the full value of your position to place a forex trade. The retail trader only accounts for a minuscule amount of what goes on behind the scenes. It is the ‘BIG KAHUNA’S’ , the market makers who hold the stroke.

NYSE, LSE , Wall Street deal with billions of currency, stock and commodity exchanges per day. It’s fair to say the foreign exchange is not easy and you will need to lots of ‘homework’ to really be successful in this industry . We at Binary Umpire will attempt to break this down for our viewers. So get your ‘CUP OF TEA’ ready and let’s begin.

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Forex Empire - Earn your stripes