FOREX
The world’s eyes are on Forex trading these days; you might wonder why people are living their professional jobs and other important things that have been sustaining them for the sake of participating in the Forex trading market.
The majority of people are trading on part time basis, others on full time while others trade on their spare times. Those who know it better they will tell you that they could even open trades early in the morning and live them running during the day until late.
“Surprisingly you can make few dollars for the day”, they say
From this scenario you could bet that Forex trading is the same as fishing, you put the net inside the water, and you don’t know how many fishes you will catch but you know deep down that you will eventually come with some fishes. Those who have done fishing they will tell you very well that you don’t just throw your fishing net anywhere.
That’s where your skills, experience, knowledge and some luck play a crucial part.
One might ask why are they making so rush and risky decisions about their lives, however those who have been in the industry knows it better, since they believe that participate in the Foreign exchange market is easy money and demand so little effort than picking boxes the whole day and still not knowing where you are taking them to, we all know this job culture, don’t we?
For those who do not know what is Forex trading? This definition might be of good help to have a picture of what is happening in the market
WHAT IS FOREX TRADING?
Forex trading is the buying and selling of currencies with an intention of making profit in the short or long run. Currencies are sold and bought at a requested price. The Forex Trading market is popularly known as the Foreign exchange market which is one of the largest and busiest financial markets in the whole world.
WHO IS ABLE TO BUY AND SELL CURRENCIES?
Almost anyone can trade in the market; you need no licence to trade however in some countries they have some restriction to their residence and also they do not permit the registration of Forex brokers or Forex companies to trade within the borders. Most people who participate in the market are:
Ordinary Individual
Full and part time Investors
Active and non-active Forex Traders
Government Financial Institution
Small and huge Banks
Small and huge financial firms and companies
With so much involvement of this Forex Participants, the market remains busy the whole day and night, but trading during the night when using the (GMT) it tends to be so slow and less volatile.
The market is closed on weekends, meaning no trading and exchanges for everyone during this times, so be carefully not to be tricked by anyone because there are a lot of bogus Forex brokers out there ready to con someone, not on weekends only but be watchful every day.
WHAT IS A DEMO FOREX?
Newbies are given an easy platform for them to trade in the safer way. When you are introduced in the market you will likely here the term Demo Forex, with this you should know that your trading journey is about to start, you will be awarded about $20 000 to $100 000 to trade on a practice mode,
don’t get so excited!
The money given to you is not for you to buy clothes or other things you need, it is only a demo which will be reflected in your online trading account. The funds given to you are for helping you understand the market better,
how the market works? How these funds are distributed? How to open and close trades? This might sound so huge but once you start trading you will see how easy it is.
FEW FOREX TRADING TERMS TO FAMILIARIZE YOURSELF
Online Forex Trading
Live Forex Trading
Robot Forex
Forex Trading Strategies
Forex Trading Signals
Forex Trading Software
Forex Spreads
Knowing these terms will make your trading very easy. People should not quit their jobs before they have understood the market very well because even if you will make money in the Forex market but it will take some time to learn to make that money, so why quit so quickly.
