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Online forex trading is a hugely successful and popular trading platform, and as such has attracted a lot of traders and brokers. It is very volatile market characterized by high liquidity and great risks. However, with time and commitment, traders can become successful at it, as evidenced by the huge amount of transactions online forex trading brings in everyday.

Trading is something that most investors try to get into at some point or another. It is a tough racket to master, but that is also one of the draws. Most traders, both beginning and experienced, have trouble with ego based trades.

It is essential for the beginner trader to be aware of all the different accounts offered to him by the brokers. Using the proper account can be the line that separates the earning traders from the bankrupt ones.

There is a psychology behind trading. It is about the perceptions change that you go through once you are actively in the markets trading. Trading on a demo account seems easy, but once you have handled your first live trade, indecisiveness close in. understanding the trading psychology will help you get on to trading with the right mindset along with the following the risk management.

Have you ever exchanged your domestic currency with another to go on a vacation or on a business trip? If you did, you had already your first meeting with Forex, whether you knew it or not.

Globally, currency trading involves a huge turnover of money. The global forex market is presently estimated at US$ 3 trillion as per the BIS Triennial Survey Report. Recent reports also conclude that currently the Indian Forex market’s turnover is more than $400 billion and analysts believe that we are still in the nascent stage of achieving the full extent of our inherent trading potential.

The advent of the internet tore down barriers from social, communication and geographical to allow people to interact with professionals in the forex world. The online bridge signifies that forex speculators, even as individuals can now trade alongside multinational companies, central banks, hedge funds, retail traders and speculators. The prospect does sound daunting and there is so much to be learned before making an informed trading decision, save for the case of expert financial brokers dealing with forex and other trades.

Trading currency online in the Forex foreign exchange market is popular and the popularity is increasing. My focus in this article is to tell about how to trade currencies online. My focus is also to tell about a network called “Social Trading”.