Forex Basics - What is Forex?

[rexway]

[MENTION=347]Tirus[/MENTION],that is the reason that a trader has to first of all learn forex properly before he can go ahead and trade in the market come to think of it you must know almost everything about the forex market before you can called your self agood forex trader.

 

[junaid1001]

Forex means foreign exchange..It deals in selling and buying of currency pairs.Buying and selling depends the market condition of that particular currency pair. There are various websites on internet through which you can get yourself updated with all latest updates of this market.

 

[Syrine22]

Yeah that is true but yet simplifying forex to just buying and selling shouldn't be the case.it involves much more than that.A newbie would always take it to be simple and that is majorly because he never gave to it much.

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Yeah that is true but yet simplifying forex to just buying and selling shouldn't be the case.it involves much more than that.A newbie would always take it to be simple and that is majorly because he never gave to it much.

 

[budado]

Its as simple as doing buy and sell. But unlike doing buy and sell of goods in forex trading you are buying and sell different currencies and that's why its called forex because its foreign exchange. And although we say we do buy and sell currency we actually not do buy and sell but exchange one currency using other currency.

 

[Cutiekc]

Its as simple as doing buy and sell. But unlike doing buy and sell of goods in forex trading you are buying and sell different currencies and that's why its called forex because its foreign exchange. And although we say we do buy and sell currency we actually not do buy and sell but exchange one currency using other currency.

It sounds so simple but not as it seems because ordinary buying and selling is very simple but in forex trading it isn't because the market goes against traders when they still have an open trade and when such thing happens no one knows only those who made proper market review.

 

[Syrine22]

The market is far above just buying and selling.if one comes with such mentallity then he or she may not eventually be doing well when doing forex.it requires proper forex analysis before any trade would be done.

 

[Taha Nizam]

The primary purpose why some individuals get to fall short in currency trading again is that they think they already know it all neglecting individuals that would be assisting them which to me shouldn't be the situation.We must know we are qualified to help each other in times of studying.

 

[PROPENSITY100]

Forex or foreign exchange is the buying of one currency and the simultaneous selling of the other. Forex has become much popular as more and more people are becoming aware of its potential and getting attracted toward it.

However though Forex offers us unlimited opportunities to make money its also very risky. We should not venture in it without proper learning and practice. Forex requires hard work and skills to make money in it and its not an easy money making option.

 

[hadg33]

Of course,we cannot venture into it without having knowledge about it,we should at least know what forex is,we should also have some skills and strategies before venturing into forex trading,a beginner should as well learn in the demo account for at least 6 months before going into it or else the person can't be a good trader

 

[KickBackFX]

Skills and strategies come through knowledge.

 

[rexway]

Forex trading is the act of making currency some trading exchanging buying and exchange of difference currency which I think is the best and the only which we need to do here and its the best decission to take.

 

[hadg33]

Yes you are forex,forex is simply the way of trading currencies and a trader should know the right pair to trade on at a particular time,'cos if the trader trades the wrong pair,i am afraid,that forex trader might be loosing a lot to the forex trading

 

[Cutiekc]

Forex trading has a very simple defination but it doen't work that way the defination is because at times newbie takes forex trading to be as simple as the defination is,though forex trading is all about buying and selling of currency but not as simple as that,forex market price fluncuates so therefor making it hard to have a steady income.

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Forex trading has a very simple defination but it doen't work that way the defination is because at times newbie takes forex trading to be as simple as the defination is,though forex trading is all about buying and selling of currency but not as simple as that,forex market price fluncuates so therefor making it hard to have a steady income.

 

[hadg33]

That's right and that was why i talked about pairs,buying and selling of currencies really fluctuates and that is why if a trader trades in a food pair,the trader would not be loosing too much in it,so JPY/USD or EUR/USD might be the best pair for me 'cos it is kind of stable in my country,in short worldwide

 

[ceciliaspicer]

Great Post Mod,
It is very useful info for newbies in Forex market.
Are there Any resources for Understanding "fundamental & technical analyses" ?

 

[rocafella]

There is also one good read about basics, its called the school of pipsology and its free on the babypips website, so for any beginners it can be a good way to start too..

 

[riddick09]

I thought it's a principle but you pertain of a site again. And obviously, that site is simple known for novice traders and searchable over the web and even seen in the forum discussions to show it's usefulness for the traders who want to learn Forex basics.

 

[rexway]

Come to think of this I guess that forex trading is a good avenue that is why its good to follow up with things here.so for the reason why brokers really reside in cyrus I dont know the exact reason but I know that its from the tax which they have and the low charges.

 

[rexway]

Well I guess this is what forex trading is all about buying and selling of currency online this is what forex is all about and its the mode of exchanging one currency to that of another.

 

[budado]

Well I guess this is what forex trading is all about buying and selling of currency online this is what forex is all about and its the mode of exchanging one currency to that of another.

To be honest I'm confuse really when the right time to say we are doing buy and sell and when is the right time we say we do exchange. Because if I have for example euro and I want US dollars then I will going to exchange my Euro to dollar not buy dollar using euro. But when you are in forex platform you are doing buy and sell.

I guess its because in platform what we are buying or selling is not actually a currency but a pair of currency. Like for example eur/usd, eur/jpy and so on. But still I don't know the proper usage or when to use the word buy and sell and exchange in forex.