Forex Basics - What is Forex?

[Markllee30]

You have shared very good information about Forex trading. I would like to add here that you invest in gold and silver also, their crude oil and gas etc. on which you can trade. Forex trading is bit difficult to understand because it is very vast and need lot knowledge to gain profit.

 

[budado]

You have shared very good information about Forex trading. I would like to add here that you invest in gold and silver also, their crude oil and gas etc. on which you can trade. Forex trading is bit difficult to understand because it is very vast and need lot knowledge to gain profit.

I don't recommend that we trade gold and silver or any metal and commodities if we don't have extra funds to speak with and of course a trading skills and knowledge to show off. I know its so tempting to invest money in forex and trade right away but metals and commodities need much much bigger trading capital than trading pairs only.

 

[sindarin]

You have shared very good information about Forex trading. I would like to add here that you invest in gold and silver also, their crude oil and gas etc. on which you can trade. Forex trading is bit difficult to understand because it is very vast and need lot knowledge to gain profit.

But i think currency still the best for me, i think that gold and oil or something like that is not for me at the moment, i will try them later ,also since i trade currency better now, and as the time goes on i am getting better. but now i trade in mt4 and will jump to mt5 when i am ready.

 

[Forex Optimum]

Forex is a great system where you have to be savvy!

 

[budado]

Forex is just a simple buy and sell of currency. unlike others that they are selling products in forex you are selling currency in hoping that this currency will appreciate while that currency will depreciate and so on. In the long run we can end up making good income in forex without any problem if we keep on continuing to trade without any problem at all. I'm really happy and excited that I can make something good with my life in forex trading right now.

 

[riddick09]

Very simple to have place our buy or sell positions but difficult to make it the right trade which we will need of our analysis and strategy before we will come up with that decision in our trades. So, the concept is easy to understand but not the actual trading or where we will make profits and trade for real.

 

[budado]

That's true. That's why we do analysis. Actually forex trading is all about doing analysis. the more we trade the more we can end up getting good amount of money without any problem at all. So far so good that I do earn good amount of money in forex by doing analysis. I do hope others will also.

 

[riddick09]

We will going to use of the analysis before we can place our trades. It's going to easy also if we will have the experience at the same time as we learn new things in trading or new encounter of the market situations. I think that it will be only good if we have our investments to be worth with the profits we are making not just small profits.

 

[sindarin]

I think we all know that basic of forex is about sell currency or buy currency, but actually we need to do analyzation in order to get better earning, if we have better earning here then we will happy, right? even like that the main idea or the basic idea about forex still not change, and for many new traders they just take that basic concept without thinking so much about the other variable like do analyzation and other things.

 

[budado]

I guess its easy to say that what we are doing in here is buy and sell. But how to do buy and sell and end up in profit is different story. I'm sure this is the problem that all of us will going to have hard time achieving. Because in the long run its really hard to make money online.

 

[sindarin]

Not all traders, i ever see some traders that gain profit and keep compounding just in relatively short time and even faster than usual traders did, and yeah it is all about sell and buy, and also how to get profit from each of our action, but in the end we need to practice more and more again, right?

 

[riddick09]

I think that compounding or to not withdraw the profits after winning a trade will be difficult to maintain. Because, it will be only applicable for those who can have multiple trades and also those who can surely have more chance of gaining profits so, it's not appropriate for the newbies.

 

[sindarin]

Even that is hard to maintain, there are still possibility for people to do something like that, also i think to make more compounding for our profit also a good idea if that trader really want to make long term trading and really want to make more profit from the trading, so far i don't see anything wrong with it as long as that trader doing well too.

 

[indieover]

We have our own choice anyway. But I would totally agree that you should not compound if you have not been able to do well in forex trading yet. Because you might only lose what you have made compounded.

 

[riddick09]

It's difficult to compound profits and then continue to trade. Because, we will not know when we will have also in the opposite side meaning the losing side. So, it's really good if we can achieve here of the profits withdrawn and enjoy the money we have earned first.

 

[sindarin]

We have our own choice anyway. But I would totally agree that you should not compound if you have not been able to do well in forex trading yet. Because you might only lose what you have made compounded.

if you don't do well in trading yet, practice more and don't trade for real, unless you are a risk taker, that compound only for people that already have a good vision about their future, also i think compoounding is a good way to safe our own money, especially when our payment processor has problem like before.

 

[budado]

You actually can't compound in forex at all as word compounding is only apply if you are in interest bearing investments vehicle. For example. You deposit your money in the bank and earn interest. That interest you keep to make another interest and that's is compounding. In forex on other hand how can you compound? You invest 100 dollars and earn 10 dollars by trading 0.01 lot size. Now you have 110 dollars and you trade again using 0.01 lot size and this time around you only earn 1 dollar. So did you compound your 10 dollars previous profit? Of course not.

 

[budado]

Forex really going to make us earn some money. I do hope I can maintain and sustain my account in forex for good. I really do enjoy trading in forex and I d o hope by just doing buy and sell I can make profit. Forex is simply doing buy and sell of currency or on other term trading currencies. As you exchange one currency to another.

 

[indieover]

Its very much possible for us to make a lot of money in forex. we just need to do the best so that we would be able to learn well. It is worth all the hard work because we would be rewarded with nice profit if we don't give up.

 

[riddick09]

Yes, that's possible and since, the potential of the profits will be limitless and that we can plan for it and make it our goal in Forex. Thus, we should make it come true by persevering our dreams and to have gain experience and the basic knowledge as soon as possible.