Forex Basics - What is Forex?

[hadg33]

How can a forex trader be compounding in forex when the business is not 70 percent certain that you would make profits. We can only compound in a business that we can just invest and we make profits without doing anything. But here in forex,it is different cos we are goin to apply skills or strtegies. Compounding is only good in HYIPs and not forex.

 

[riddick09]

There's always no certainty in the market and no statistics or percentage can be done because, the market is continuously changing and evolving. We can have not withdraw the profits we've made but this will have the risks when we fail to continue on making profits because, it can be on the opposite side. And "compounding" can be used in Forex trading as well.

 

[hadg33]

Well,may be you or me seeing from different perspective. The way I see it,I don't think compounding is really needed in forex though I am not saying can't be done but this is a business that a trader can't say his/her skills are adequate enough to do compounding. But in HYIPS there is no skills or strategies needed. Just invest and compound and if you are luck,you make profits from it.

 

[Markllee30]

Yes that was interesting to read even if we've been into Forex from a pretty long time as I believe that there is always a room for improvement.

 

[riddick09]

Well,may be you or me seeing from different perspective. The way I see it,I don't think compounding is really needed in forex though I am not saying can't be done but this is a business that a trader can't say his/her skills are adequate enough to do compounding. But in HYIPS there is no skills or strategies needed. Just invest and compound and if you are luck,you make profits from it.

Certainly, not. Because, you can't assure of the compound will work and if scammed by HYIP then, the compounding which means that no profits withdrawn are gone. But Forex, it will be still there as long as you did have the losses. They can continue in their target while having some profits or higher than the initial capital already.

 

[hadg33]

Don't get it twisted,you can compound in forex but how can you compound when you are struggling to make profits,it not even certain that you would make profits. From my experience I only compound when I am investing little funds but when I invest big,I target profit before compounding.

 

[sindarin]

it is possible, each traders have different strategies, when they are struggling to get profit they really want to make more profit, and then they start compounding and try to trade with bigger amount of capital from the profit that they compound here so they are hoping get a lot of profits from it, i have few friends in offline world that doing the same thing and so far they are doing well.

 

[riddick09]

Yes, that's correct. We will have here different strategies or that until we find the most suitable strategy for us. I know that it will be difficult to achieve as the time goes by we will need to experience those strategies before, having the best among the rest.

 

[rafiqshahid]

Forex mean Foreign currencies which exchange each other and trade with them in all the countries. The trader should enhance the knowledge of trading before start this business from the websites and e-books with good modern techniques which is very useful for the trader.

 

[riddick09]

Yes, they need to have good knowledge first, and that they can have apply well their strategy and also their skills. That traders will going have here the chance to make profits if they will have the sufficient knowledge and become an experienced trader.

 

[budado]

Forex is just exchanging currency. And since the volume is big in forex forex become the biggest single market. Just imagine that all of the country economy involve currency and that currency is traded in single currency. Since the market is big we can do some speculative trading and the forex market can always accommodate us.

 

[riddick09]

Well, we do trade in Forex and therefore there will be exchange or transaction going on mostly in the currencies or in pairs. But then, Forex has been known also for the investors to be good in investments to have huge profits or earnings as well that's why they also consider Forex trading as business.

 

[jackcm]

I think "how market works" should be involved in basic knowledge. Most traders don't know about this, and why traders should decrease leverage when their capital larger.

 

[riki143]

Its really a nice article as am beginning to learn a little about forex. I tend to understand it is the process of buying and selling currencies inorder to make profit. Its really a cool way to begin and with a good trading analysis, we can predict the future of the forex market and thereby make profit with it.

 

[hadg33]

That's very correct,you have really defined the meaning of forex but don't feel it is so easy as you think,you can't predict the market just because you have some basic knowledge about forex,the market is so volatile.

 

[riddick09]

For me, it's really more significant for the traders to have the trading experience and that their basic knowledge will be able to use in the trading. We can have deduce the market volatility if we have the sufficient knowledge of Forex and able to trade and use of a strategy with the indicators.

 

[glucoseguy]

Is it right to say that exchangers that convert our ecurrency to cash and other ecurrencies are forex brokers?

 

[hadg33]

Exchangers are not forex brokers,excahngers simply converts your funds in payment processors to cash or they convert from one payment processor to another while forex broker is a certified company that trades currencies.

 

[glucoseguy]

[MENTION=475]hadg33[/MENTION] thanks for the explanation. I was thinking that its right to call them brokers because they convert our ecurrencies and they know when the value of currencies increase or decrease just like forex brokers.

 

[Decub]

Forex is gradually turning to a name in every household, it has gone beyond what an average man on the street address it as (foreign exchange). Now some go out of their way and daily paid jobs to learn trading so they can easily make money from the comfort of their homes without being responsible to anybody or considering the response from any boss.