Learning FOREX!!! A to Z of FOREX
Good Day Everyone,
I am again starting a new successive article. Though, I already have 2 of them to follow through. But believe me, I could not bring myself to put on those matter for past few days. Sorry for that. Well, today I am starting a new one. Hope, this one at least I can continue. Because, this is my favorite topic "FOREX". Yeah, that's right. I am going to write a consecutive and step by step article on the FOREX. As you can see in my profile, I am a Forex trader for a long time. I could not exactly remember the year, I started. Maybe around 2009-2010. So, I want to share some knowledge or information about it. This is a huge thing. No matter, how long you have been doing trade in FOREX, there will be always something new. You have to be determined and dedicated to this and also you have to invest lots of time on it. Then, you can earn money with just a click!! Ha Ha... Well let's start. I am going to a very formal way. Because I have to follow this through next and next.
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Forex or Spot Forex is the Place for foreign exchange buying and selling. In Forex market you can sell a country's currency and buy a country's currency. This is basic of all basics of Forex market.
For example, the currency of the United States or USA is dollar, Britain or the UK currency is pound. In the Forex market you can sell dollars by selling pounds or pounds and buy dollars. There are other country currencies are also their to trade. So,basically you can buy a currency in exchange of another currency or sell a currency in exchange of another one.
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Every country's currency values are changing in every time. Even the I am typing, it already been changing and it is a non-stop and continuous process.You might have seen in the magazine that sometimes it is getting stronger against the dollar, and sometimes the money is stronger against the dollar. This is the highest rate of currency in the world. So, if you have bought dollars, if the price of the euro against the dollar goes up, then you can sell the dollar and buy euro. Again, if the Euro is strong against the dollar, you can get more dollars by selling euro.
Maybe you had $ 100 that you bought 80 euro by selling. Later, after rising Euro, it sold it to $ 120. This way you can earn. We can profit in the stock market, if only the share price increases. But in Forex market, no currency is strong or weaker, we have the opportunity to profit in both cases, which is the biggest advantage of Forex market.
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In the previous days, only the wealthy people or banks had the opportunity to trade in the Forex market. But now, with the change of time, due to the emergence of various Forex Brokers and competition, anyone can trade on Forex market from any country of the world.
It's possible to start Forex trading with just $ 1!!! Yes that's right.You can start the trade with just only $1. Almost all Brokers will give you free demo trade, that is, with virtual money. So first you can prepare yourself in free demo trade and start real trading by depositing it with real money, when you will have the confidence.
Forex market is very large and this market can not be manipulated. The biggest stock market in the world is the New York Stock Market and the size of the Forex market is 25-30 times more than that. Remember, the price of the dollar or the euro does not determine the price by any country's government. In the context of economic conditions and financial events of different countries, the prices of different countries vary automatically. If you buy dollars or euros at the some price, all the countries of the world will buy dollars or euro in the same price.
There is a large leverage or loan facility available for trading in Forex market, and therefore you can benefit from very little market movement.
"Scalping"A very popular word in Forex. It means, open trade for a very short period of time. It is possible to get good profit with very little change in Forex market. Many people open a trade for 10 or 15 seconds and if they get a profit, then they are out of the trade.
Forex Market is open from Monday to Friday, 5 days a week for 24 hours. And so, you can trade conveniently on the Forex market, whether you are a employee or a business person.
Forex trading allows you to do it from home, office or anywhere you like.There is no need to go outside. And so, you can spend a lot of time with your family and other works.
To trade in Forex market, you have to do everything online.So it is easier to do from deposit to withdraw and account opening.
If you can trade well, many will be encouraged to deposit with you and in that case, you can manage their trades and you will get a portion of their profits.(isn't it nice!)
Above all, a successful and efficient Forex trader can earn huge amounts from this market.
It is needed to mention, to be a skilled and successful trader, you will have to study a lot about Forex market, make yourself eligible for this market. Anyone from the Forex market can earn a lot initially, without knowing anything.
Remember,
Forex market is just as challenging as the stock market. Trading without knowing will may bring you initial success-fullness, which is also possible at the stock market. But for a long time to survive, there is no alternative or exception without being an expert.
And one more thing, there is no recession in Forex market. Because, you can buy only in the stock market, you can buy or sell both at Forex market.
Another thing,
When stock market is going down and down, everything will go down. In Forex, one currency is always up!
Well this is all for today! I am not going put any more in a single post. It will make you boring. And me too. LOLL!!
It is really a beneficial update. Remain blessed @shuvomahfuz.
It is actually a sucessive article, I am planning to continue. Thanks for stoping. Remain blessed too.