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Trading Forex

Posted On: 2006-09-25
Length: 18:10

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Hello and welcome to on-demand radio with The Market Guys. I'm AJ Monte. Today we have as a guest, founder and CEO of the Trading Institute. You can contact the Trading Institute by going to their website, www.thetradinginstitute.com. And we have Steve Rising with us today. Thank you Steve, for joining us.

It's a pleasure, AJ. I'm glad to be here.

Well Steve, let's take it right from the top, and really tell our listening audience how you got involved with Forex, maybe a little bit of your background and how you wound up trading one of the largest markets, if not the largest market in the world.

OK. Just to kind of make it a snapshot here in the interest of time. I actually started as a swing trader in the equities market in the late 80s. Then as online trading started to evolve about a decade later, as we moved into the late 90s, I was started to get involved with the S&P mini market because it was accessible online and started to take a look at the Forex. Still didn't have a lot of the dynamics that I wanted to be able to actively get involved with it, and then early 2000 online transaction platforms started to become readily accessible, and it offered all the dynamics that I was looking for for a market that I could consistently trade in an online venue because of the fact that it is the largest market in the world, so there's a number of key windows that I could get involved with. So a long story short, started in equities, as most people do, evolved into futures via the S&P mini, and then landed in the Forex because of the access and the volume.

Right. Now with that, let's segue right into what is the Forex. I mean we're seeing explosive growth around the world. People are participating in most every country I visit and with that, we also see a lot of the brokers out there designing trading platforms who accommodate those who want to trade the Forex. So, what is the Forex, how big is it, and then we'll move on from there.

Well, as you said, it is the largest market in the world. Over two trillion dollars a day are trading back and forth on really what's an entirely electronic global network. So it's this global network that's linked between major banks, institutions, brokers and what they're doing is simply leveraging or trading these currency pairs that trade back and forth against each other. So the global interest is because it has become a global economy. We're working off of what are fractions of a cent that change in the exchange rate of these currency pairs, but due to the leveraging factor, it equates to dollars for us, and so because of this global dynamic, large volatility, which when we look on it is really only fractions of a cent, but this up and down price activity is consistently there, so I think that's why the global interest.

And obviously we will not have a problem with liquidity. I mean, that's absolutely not an issue here.

Exactly.

The institutions obviously are in this as well because they can move a lot of money, which is great for their portfolios, especially the billion dollar portfolio managers who have to move money quickly...

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