Forex Trading Introduction for New Traders by The Forex Trader

LONDON, April 5, 2012 /PRNewswire/ --

The forex market is the largest and most liquid market with an average daily turnover in excess of US $4 trillion. Being one of the most traded, it is also highly accessible; however, it can still be daunting for new traders looking to access it.

Below, we speak with The Forex Trader who discusses how trading forex with City Index has opened up a world of trading opportunities through online and mobile trading platforms, and high liquidity.

Start Trading Forex

"Not long ago, I was a new trader like you. However, I'd considered trading forex some time before I actually placed my first trade.

It was important to my trading success that before I placed that trade, I found the right provider to suit my trading needs - which included the ability to trade on-the-move - whilst also creating a trading strategy and gaining as much knowledge as I could about my chosen currency pairs through technical and fundamental analysis."

Mobile Trading

"It was imperative that the forex trading provider I chose offered both online and mobile trading platforms.

As a busy professional with a full-time job, I'm constantly on-the-move. The online trading platform allows me to trade via a browser, whilst the City Trading™ iPhone app from City Index means that not only can I trade from wherever I am, but also whenever I want, meaning that I never miss a trading opportunity."

Trading Opportunities

"Forex offers me and my fellow forex traders multiple opportunities due to being a 24-hour market, as well as its high liquidity feature.

Liquidity is a characteristic of a market based on the level of ease you can buy and sell at and, when applied to this example, this means that forex spreads tend to remain tight throughout the day, providing forex traders with the upper hand in the marketplace.

Being a 24-hour market, it also allows us to trade in and out of the market freely, regardless of the time of day, opening up numerous trading opportunities."

Summary

Whilst liquidity and mobile trading offer numerous benefits to The Forex Trader, it is important you remember that leveraged trading can lead to losses that exceed your initial deposit if the market moves against you.

In addition, the high level of access a mobile trading app offers can also lead to impulse trades; make sure you have a solid trading strategy in place before you start trading.

For more information, please refer to spot forex provider City Index: http://www.cityindex.co.uk

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, financial spread betting with City Index.

SOURCE City Index