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FXClub.com Tip: A forex trading session works when one buyer/seller in a forex market places a bid/ask price in the market. This is the same fundamental as stock trading. During stock market hours, one person is selling a stock value and another person is buying a stock value. Money is earned and lost based on the value of the trade.
Most forex trading sessions will occur using an online broker or trading platform. A trading platform is a forex trading software program on your computer that shows trend charts, current and historic prices, and can connect you directly with your broker or dealer (if you do not have a broker). For the most part, all forex trading platforms come with instructions and demo accounts that are fairly easy to use. It is strongly recommended to try out three to five demo accounts in different trading platforms before you select one for your forex trading sessions. For example, a free forex trading platform can be downloaded from FX Club at www.fxclub.com. Other free demo accounts can be found through brokers listed at FX Street, an information resource, located at www.fxstreet.com. Free demo's should not ask for any bank or credit card information, so be wary of companies that ask for too much information upfront to start a demonstrative trading session. The forex trading sessions are based on the forex market, which is 24/7, except Saturday and Sunday.
|Jennifer Mathes, Ph.D.|