Chapter 7. Around the World
Figure 7.11. Effective order entry will allow you to walk away!: 2006 "Fxstreet.com. The Forex Market." All Rights Reserved.
Let's preface this next discussion with the fact that many of us have attended one of the many traveling shows that come to our town talking to us about forex trading and the wonderful world of this 24-hour market. If you are expecting me to bash these, I'm not. If you were introduced to this market by some such presentation, well then, that was worth your time and you had the knowledge to go out and seek more knowledge, which no matter who it comes from, can be a valuable gift—if you know what to do with it. If you bought the course, software, book, DVD, whatever, I'm quite certain no one put a gun to your head. So let's move on. It's a fresh start.
Two of the most compelling features of the forex and the ones most touted are the 24-hour trading time of the foreign exchange and the fact that it is the largest market in the world. Both in fact are true but exaggerated. How about the fact that there is always a bullish market in the forex? Also true, but you need to find the pair that is trending higher.
If you were to ask me what the biggest misconception most traders have about this market, the one thing that is completely overused and misunderstood, it's that this market trades 24 hours a day. Now what a minute, Raghee, you just said ...