Forex Basics Trading

Forex Basic Trading for beginning trading at forex to invest

This is a forex trading guide for beginners. I try to answer all questions about Forex

trading. If you are new to trading or you traded stocks and want to learn more about

Forex trading, then this guide is for you.

The goal of this guide is to give you practice knowledge so you can understand Forex

trading basics and trade by yourself. If you don’t understand some terms, This book contains principles to start learning Forex trading.

The Forex market or Forex market - Foreign Exchange - is one of the largest financial markets in the world in terms of volume of more than 4 trillion dollars a day.

It is a currency trading against another currency, often for the purpose of making a profit.

$ •Forex Market:

With more than $ 4 trillion of liquidity in circulation on the market daily, Farkas is arguably the most liquid market in the world.

In principle, this means that you can buy almost any currency you want at any time when the market is open.

Opening hours of the market is the key factor that determines the Forex trading feature.

The Forex market is open 24 hours a day, 5 days a week.

Trading in the market starts on a global basis, beginning in New Zealand, then in Australia, Asia and Europe, finally in the USA, allowing currency trading at any time of the day or night from Monday to Friday.

$ •What factors affect the Forex market?

There are several factors that affect currency exchange rates in the Forex market, such as political and economic stability and monetary policy of countries.

However, since Forex trading is direct, it is speculation that mainly affects market price changes.

If traders expect that for some reason or event a currency will strengthen or weaken, they will trade and change the price in the market because the supply and demand of the target currency will change within the market.

The greater the number of people expecting a currency to move in a certain direction, the more the market will be affected.

$ •What should I do when trading Forex?

When you trade Forex you will always trade on a pair of currencies, ie you will buy or sell a currency against another currency.

If you expect, for example, that the pound will weaken against the US dollar, you should buy a pound against the US dollar.

If you expect the opposite (ie, that the US dollar will strengthen), you should sell the pound against the US dollar.

From this perspective, you can always take a position in the direction that assumes that the market will move towards it and thus this will increase your chances of trading.

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EUR/USD (euro/dollar) – "euro"

USD/JPY (U.S. dollar/Japanese yen) – "gopher"

GBP/USD (British pound/dollar) - "cable"

USD/CHF (U.S. dollar/Swiss franc) – "swissie"

AUD/USD (Australian dollar/U.S. dollar) – "aussie"

USD/CAD (U.S. dollar/Canadian dollar) – "loonie"

NZD/USD (New Zealand dollar/U.S. dollar) – "kiwi"