What is Forex?
Hello Alisha, I´m new here (forums) but I can tell you this girl, Forex is the biggest market around the world, The Foreign Exchange market, you can trade (only)with currencies, It´s means MONEY, USD, EUR, JPY, GBP, CHF, CAD, AUD & NZD (that´s why is lately important). When you are trading, do it in pairs (EUR/USD), so if the EUR going up the opposite happen with USD.
Look, honey, this is easy but you have to read for long time before put your money and lose it all. There are some softwares you can play with and learn like if you were in real life.
Luck, sweetie!
Thank you, you are very kind but is it similar to the stock market? What does it mean to trade in pairs does it always work like that? Are those the only currencies you can trade?
Welcome Alisha, the question is interesting and the answer is very difficult. Forex is a trading system that is based in many factors, economical, political, so on so on.
The whole idea is to trade currency, yes all currencies but the strongest are the most popular. Euro and Dollar are the top two. So just like when you travel outside of your country than you must buy the currency you are going to be in to be able to spend, sometimes you stay with money and have to change it back to your currency. When you do this you realize that you have gained a couple of cents on your dollar given that the Dollar gained power over the Euro, so you are happy cause of that. That is Forex.
Thank you Scotty. I understood your example although it has never happened to me, usually at the end of vacation I don’t have any money and I use credit cards. But when I get my credit cards bill sometimes it has different values and I didn’t understand clearly why but now I know. Than
Hello you all I am here again and I have a question about MT4 I got the demo but I haven’t traded yet. So from what I read the graph shows candles buy why are some long other short, what do they mean
It is a very large theme. And it not to know in one article, it is necessary much time to trade and study, that to get to know it.
Not easy or realistic!There are many forex courses caliaming that you can win tons of money everyday.Not true!Believe me!
Forex is very risky and to earn 1000 US per day then you have to be a top forex trader,have great risk management and a good strategy that is foolproof.
Very difficult!
I don’t think that forex is too difficult than you say. In the beginning is hard because you don’t know about it, but when you get info (read) it can be the easiest market around. And that risk part make you little rich, more risk, more gain
Well nothing is impossible if you study hard and make yourself a good trading plan. Of course on these days and thanks to the economical havoc having that amounts of pips in one day is quite hard. But you just net to be patient and demo trade and learn as most as you can. Also try to have trading plans as a scalper and as a long term trader, that way you'll have a clearer idea of how to trade on the fx world.
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Hello community I was looking into all the news and saw that most newspapers talk about two markets, so I got curious to know what they were talking about and found the Forex market, so I am here and I want to know what is Forex and how does it work?