How Does One Become an International Currency Trading Success?

International currency trading has become a very active vocation. Many people are taking advantage of a fast growing and fast moving market. Due to globalization of almost all economies, the currency market has become the largest market in the world, as far as trading volume. Currencies trade in all time zones so a trader could potentially trade 24 hours a day, 5 days a week. Over $4 trillion is thought to be the daily volume on the Forex.Having a high level of knowledge about the factors that cause prices to move in one way or another is a critical factor in being profitable with international currency trading. Taking a quality trading course, taught by an experiences trader is highly recommended. This will help you get a feel for how actual trading might be. There are many recommended books and publications that can also help you learn to trade successfully.Managing the high degree of risk in the international currency trading market is one other things that a trader must do. Not only are there many experienced professionals in the market, the leverage used with trading in this market can significantly increase the level of risk you must be willing to accept. Your broker will loan you the major portion of your trading capital. You must control this risk as you trade.Pairs are used in trading currencies. One currency is traded against the other. The following are the most commonly traded pairs. EUR/USD(euro/dollar), GBP/USD(British pound/dollar), USD/JPY(dollar/Japanese yen) and USD/CHF(dollar/Swiss franc). The first currency in the pair is the base currency. It will be either bought or sold depending on whether the price is expected to rise or fall against the quote currency. If the base is expected to rise against the quote currency the base is purchased. When the price rises it is sold for a gain. If the base is believed to be ready to fall against the quote price, it is sold with the intention of buying it back at a lower price in the future making a profit.The international currency trading market is made up of a diverse group of participants. The most prominent group is the inter-banks, which are made up the the large investment banking firms around the world. They have large trading centers whose primary goal is to make money for the firm itself. These banks also trade for their clients. Governments use the markets in an attempt to maintain stability in their economy’s and monetary systems. Hedge funds buy and sell currencies in an attempt to make money for their investors. One of the most rapidly growing sectors is the individual trader. Because of the volume of trading and therefore the liquidity in the market indivduals find it easy to get involved in the market.Trading in the currency markets is a complex process. Traders obviously need to understand what moves the market prices. There are many reasons for currency prices to move up and down. Factors that affect prices stretch from budget deficits and surpluses, employment levels, interest rates and money supply to political and climate environments. There are many other issues that can affect price levels as well. Having a high level of knowledge about how these things impact prices is the key to success.Trying to see trends in the market is a good way to make trading decisions. Identifying trends can be made easier with the use of trading charts. On a chart pairs are plotted allowing the trader to see past preformance in an attempt to predict future preformance.To be a success in international currency trading you must have a thorough understanding of the market and how it operates. If you can develop a disciplined trading mentality you are sure to reach your goal.

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Good Reasons to Use Crypto-Currency Bitcoin

Bitcoin is a comparatively new type of currency that has just started to strike the mainstream markets.

Critics state that using Bitcoins is unsafe because -

They have no authentic value
They are not regulated
They can be used to make illegal transactions
Still all the major market players talk about Bitcoins. Below are some good reasons why it is worth using this crypto currency.

Quick payments – When payments are made by using banks, the transaction takes some days, similarly wire transfers also take a long time. On the other hand, virtual currency Bitcoin transactions are generally more rapid.

“Zero-confirmation” transactions are instantaneous, where the merchant accepts the risk, which is still not approved by Bitcoin block-chain. If the merchant needs an approval, then the transaction takes 10 minutes. This is much more rapid than any inter-banking transfer.

Inexpensive – Credit or debit card transactions are instant, but you are charged a fee for using this privilege. In the Bitcoin transactions, the fees are usually low, and in some cases, it is free.

No one can take it away – Bitcoin is decentralized, so no central authority can take away percentage from your deposits.

No chargeback – Once you trade Bitcoins, they are gone. You cannot reclaim them without the recipient’s consent. Thus, it becomes difficult to commit the chargeback fraud, which is often experienced by people with credit cards.

People purchase goods and if they find it defective, they contact credit cards agency to make a chargeback, effectively reversing the transaction. The credit card company does it and charges you with costly chargeback fee ranging from $5-$15.

Safe personal details – Credit card numbers get stolen during online payments. A Bitcoin transaction does not need any personal details. You will need to combine your private key and the Bitcoin key together to do a transaction.

You just have to ensure that your private key is not accessed by strangers.

It is not inflationary – Federal Reserve prints more dollars, whenever the economy is sputtering. Government injects the new created money into the economy causing a decrease in currency value, thereby triggering inflation. Inflation decreases people’s power to buy things because prices of goods increase.

Bitcoins are in limited supply. The system was designed to quit mining more Bitcoins on reaching 21 million. This means that inflation will not be an issue, but deflation will be triggered, where prices of goods will fall.

Semi- anonymous operations – Bitcoin is relatively private, but transparent. The Bitcoin address is revealed at the block-chain. Everyone can look in your wallet, but your name will be invisible.

Easy micro-payments – Bitcoins allows you to make micropayments like 22 cents for free.

Substitute of fiat currencies – Bitcoins are good option to hold national currencies experiencing capital controls, and high inflation.

Bitcoins are getting legitimate – Major institutions like the Bank of England and Fed have decided to take Bitcoins for trading. More and more outlets like Reditt, Pizza chains, WordPress, Baidu, and many other small businesses are now accepting Bitcoin payments. Many binary trading and Forex brokers also allow you to trade with the Bitcoins.

Bitcoin is the pioneer of new crypto-currency era, the technology that gives you a peek into future currency.

At ForexMinute, we provide accurate reviews on the top brokers that allow you to trade Bitcoins on their platforms. You could also access some of the most helpful online tools to make smart trading decisions.