forex
By ayano678
@ayano678 (441)
February 25, 2013 6:29pm CST
after walking around and looking for the meaning of the word "forex trading", I have not found the answer easy to understand, can you explain briefly what is forex trading? and how does it work? why many people who signed up there a lot? what are the benefits?
5 responses
@aerous (13434)
• Philippines
26 Feb 13
Well, this is also my problem, my friend. Because I really want learn about that kind of program to enable me to earn additional income from the internet...I even write about such thing but no one offer me for help but most of them say negatively that forex is not easy and very tricky.
@de_toya (2429)
• Indonesia
4 Mar 13
Hi aerous, glad to hear that you learn forex. Perhaps, you could understand about Forex market in few hours. It's not difficult to understand what is Forex, currencies pair, Long, Short, or Ask, Bid, pips,.. etc. You might understand about technical and fundamental analysis just in one night learning. The difficult is the practice.
You can't practice Forex just in a night. Practice in Forex in purpose to get stabil profit is not easy. You need to practice at least 3 - 6 months. It needs us to dicipline and consistency to apply our trading system. That's why every Forex site provide demo account facility. We can practice Forex without real money.
Everything in demo account is just like in real trading except for the money. So, don't ever invest your money in real trading before you can make profit consistentcy in demo trading.
@savire (204)
• Indonesia
26 Feb 13
There you have it. Basically what you are doing in Forex a.k.a Foreign Exchange is the same as trading goods in real world. But the mechanism is somewhat different because the profit you will gain are from the spread of each position you posted in each trading transaction. There are quite a lot of term which need to be followed though before you gain deep insight for Forex. So I suggest learn the basic first before you delved further because the market is very dynamic.
@yugasini (12893)
• Secunderabad, India
26 Feb 13
Hi Ayano,
Forex denotes Forex Exchange, in Forex currencies are trading. There are pairs of currencies were traded. Forex trading is not small one it is a biggest business in the world, leaning some what not that much easy, I am learning and learning since 5 months nothing is gained. There are several Forex forums they are paying for our participation there is a site to learn Forex that is babypips site, all the best in your trading.
@de_toya (2429)
• Indonesia
4 Mar 13
I think we can't explain Forex briefly here. It's better if you find it by yourself. Or try to visit http://www.babypips.com/. Almost all Forex site provide elementary forex education for their customer. Or you can search Forex learning site in your country. I think learning forex in our language will make it easier.
Well, Forex is high risk high return. You might earn 50% even 100% of your capital in a day but you can lose all of your capital just in few hours. If you can't afford to lose your money, so forex is not suitable for you.
So, if you really want to business in forex trading, prepare yourself. Learn it then practice it in demo account. Build your own trading system, incluiding initial margin, leverage used, lot to trade, profit target, etc. Practice it for 3 - 6 months and don't ever invest real money if you can't make profit inconsistency. Good luck!
@Nomi57 (26)
• Pago Pago, American Samoa
30 Nov 14
Forex trading ,Only single sell trade with $2000 investment in 2014 can bring you $60 000 profit in 2015!
