Forex Basics - What is Forex?

[riddick09]

Yes, in forex trading we have many trades which are open simultaneously although it will be difficult to manage all of them unless we have already put S/L or T/P. It is forex because you can easily gain big profit or will have big losses in just matter of time lets say you win just a couple of minutes or take days to have your target profit.

 

[glucoseguy]

Wow. This is a good thread on the Basis of Forex. I knew very little about forex until i Read this thread. It's a great one for beginners like me

 

[totyou13]

This is a very good post about Forex! I want to congratulate you who wrote it! after reading this post I will go myself to Forex.

 

[glucoseguy]

I'm new to forex and until i read this thread by the thread owner, i didnt know a thing about forex. Good work here

 

[menara]

wow .. great info..i'm new and the above explanation is my first step to explore the world of forex

 

[monyitomon]

Well explained especially designed for newbie who don't know about Forex trading. A Fundamental analysis is really important, and a traders must analyze the market first before trading, a thorough analysis is really require before entering a trade.

 

[riddick09]

We really need to analyze the forex market. Thus fundamental analysis is part of analysis and its something to do with the news which do have big impact to the market which it is related. We can say that its hard to trade when there's news as we don't know how the market will react on the news and how we will be our decision to it.

 

[Tirus]

It is the nature of forex trading that it remains unpredictable because there are many factors that are beyond our control but can influence the the market and currencies. We can only control how we react to those factors but we need to gather and do proper analysis to give us a better chance of making profit from out trades.

 

[budado]

Its predictable that its unpredictable so its predictable. lols. Sometimes theirs an obvious signs that this is going to happen and yet we ignore it. that's why its important that before we open a position we make sure that we have some supporting analysis that will help us determine if the price will going to go up or if the price will go down.

 

[valexer]

Its predictable that its unpredictable so its predictable. lols. Sometimes theirs an obvious signs that this is going to happen and yet we ignore it. that's why its important that before we open a position we make sure that we have some supporting analysis that will help us determine if the price will going to go up or if the price will go down.

Yes it's correct! That is why fundamental and technical analysis is really a must if you want to increase your chances of winning. I know that forex sometimes could be a guessing game but it is still better if you have the basis why you choose to open that position. We cannot solely rely on our instincts in forex. We need to have the basis for every decision we make.

 

[Syrine22]

Sincerely the thread poster has really tried in times of breaking down forex but my question is how should one start trading??moreso are our payment processors the ones used when dealing with forex or there are better money transfer means when dealing with forex.

 

[riddick09]

Well, if you want first to think of choosing of forex brokers then you don't need to think of their payment options but their support and offers here as others do have all of their payment methods but their processing of payments is not that good. Also to read what other traders think of those brokers.

 

[Syrine22]

Yeah i just got to know that forex is beyond trading of currencies.it can also be the exchange of goods and services so far trading is involved.Well forex is a great online stuff that really requires lots of wisdom and understanding before jumping into it.

 

[riddick09]

Nope, its not necessary to have lots of knowledge but its an advantage for the trader. Because if we have lots of knowledge it does not really make it as a whole particularly experience and our analysis in forex market. That's why even kids and students can also trade since it does not require lots of knowledge.

 

[Syrine22]

I think knowledge in this life doesnt rate to our ages.a young boy can have knowledge about a thing more than his father. When i talk of knowledge inhere i mean indepth knowledge that would be of great help intimes of trading with people on a daily basis.

 

[damar]

good post .. now can you explain to me how should I begin?? ​​thxs

 

[romadhani1]

Good Post

Thanks for your post. From it, I got many more about What is Forex, and this post help me about my Forex question. If you have the other about Forex, please post again. Thank you very much.

 

[pinoycity]

I think, forex trading do require lots of knowledge. And this knowledge will only be gotten through many experiences. But the thing about forex trading is that, it is accessible to all people who have a computer and internet access and there are many training materials around. And this is why even kids can, nowadays, do forex trading.

 

[monyitomon]

For me it's necessary to have lots of knowledge about Forex trading because we can use our knowledge posting in Forex Forums wherein we can able to earn some bonus to start trading so without even funding your trading account using the money on your pocket.

 

[Syrine22]

Yeah that's true.forex forums sincerely are really helping forex newbies to gain knowledge and also creating an avenue to make much more earnings online.To me forex is a step by step thing that requires much patience before dabling into.