Come on, Learn to Know the Ins and outs of Forex Trading
Forex trading is not easy, but that does not mean you cannot learn. The great forex traders do not a few start from ordinary people who are blind to the world of forex. However, with an unyielding spirit to learn forex brings them to make big profits through forex trading. Who can trade forex? Is it only a god class trader who can trade forex? Wow, you’re wrong. Here everyone can trade , whoever they are and whatever their background. So for beginners don’t hesitate to explore this science.
Well, for those of you beginners who are still learning forex there is no harm in knowing what forex is like, understanding the characteristics of forex products, trading hours, and factors that influence changes in forex prices.
What is forex?
The currency market (Foreign Exchange) is the largest investment market in the world and continues to grow rapidly every year. Data from the Bank for International Settlements’ 2013 Triennial Central Bank Exchange and OTC Derivatives Markets Activity showed that trading on the forex market averaged $ 5.3 trillion a day in April 2013. This increased from $ 4.0 trillion in April 2010 and $ 3.3 trillion in April 2007. This large trading volume caused high liquidity in the forex market. The more easily online forex trading and forex market liquidity continue to increase, thus attracting greater participation from various types of circles.
When can you trade forex ?
You can trade forex anytime except weekends, which is 24 hours a day and 5 days a week, with the three biggest trading sessions, namely the trading sessions of Europe, Asia and the United States. Now you are the one who decides to trade with a short term or long term, all depends on the type of trader. Of course the forex strategy that you will use must also pay attention to trading time.
What is the form of forex products?
Forex is traded in the form of a currency pair . Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. According to the Triennial 2013, the most commonly traded currency pairs are EURUSD: 24.1%, USDJPY: 18.3%, GBPUSD: 8.8% and the US dollar involved in 87.0% of transactions, followed by the euro (33 , 4%), yen (23.0%), and sterling (11.8%).
‘Who’ can cause changes in currency exchange rates?
One of the causes is supply and demand . When the world needs more dollars, it will cause the value of the dollar to increase and when there are too many circulating, the price drops. The forces that drive the stock market can also affect changes in the value of the currency. Other factors such as interest rates, new economic data from the largest countries and geopolitical tensions can also affect currency prices.
Where can we trade forex ?
You are a beginner who is still learning forex, now wherever you are you can trade forex which is important You are connected to the internet network. How come, maybe you think so. The rapid development of the forex market and accompanied by the growth of online forex brokers who are your partners in trading is a very fitting blend. This online forex trading system is certainly very helpful, but you also have to be careful in choosing an online broker that is officially regulated for your security in trading. Many online brokers are very welcome for beginners in the world of forex trading , in addition to being trading partners, they also help and are not reluctant to share knowledge with beginners who are learning forex.
Why do you have to trade forex?
Beginners who are learning forex may ask many who are the advantages of forex trading compared to other products? As explained earlier, the forex market is a market that is very potential to be seen from a high level of liquidity and certainly continues to grow rapidly over time.Judging from the trading time, forex is perfect for everyone in all parts of the world. Forex trading does not need to wait for buyers when we will sell or sell when we will buy. Currency is also traded in various sizes with lot units, the greater the transaction size, the greater the chance of profit or loss according to the principle of ‘ high risk-high return ‘. The use of leverage as a lever to increase the value of the loss profit transaction. In forex a trader can reap the benefits when prices rise or fall ( two ways opportunity ).
All of this potential must be a pity for you to miss, join and become a trader in the forex market. Can a beginner succeed in the world of forex trading? Of course it is very possible, provided you want to learn and practice.
Hopefully useful and happy trading.