How To Trading Forex Online
How To Trading Forex Online, Are you looking for the best guide to learn forex and learn to trade for beginners, in this detailed article you will learn the basics that every beginner should learn to be able to trade successfully in the foreign exchange market.
What is Trading Forex?
Before you start to learn forex and learn to trade what is forex?
Forex is the largest foreign exchange market with a daily trading volume of over $5 trillion.
Forex is the decentralized global market for the foreign exchange process for either: current rates (spot market) or for specified prices (forward transactions market).
Undoubtedly every person or merchant thinks of profit from either gold trading, metal trading, Business Services, Bail Bonds, Gas/Electricity, Insurance, Cash Services & Payday Loans, Mortgage, Loans, Credit, Mortgages, Banking, Trading Forex, Trading.
Forex traders seek to profit by speculating on the future exchange rates of one currency against another.
What are the main characteristics of the forex market:
It is the largest financial market and the most liquid market in the world
It does not have a physical headquarters or specific location such as the stock exchange
Trading takes place around the clock for five days a week, starting from Sunday at 01:00 AM Mecca Al-Mukarramah time until Friday at 01:00 AM Mecca Al-Mukarramah time
What are Currency Pairs:
When learning forex and learning to trade, you should know that the term currency pairs expresses the process of pairing two different currencies with each other, such as the euro and the US dollar, and it is expressed by EURUSD.
If a trader buys the EURUSD pair, he should expect that the value of the euro will increase in relation to the US dollar.
Selling a pair of EURUSD (Euro / US Dollar) means that the trader has to think about the value of the dollar, which will increase against the euro.
What are the major, minor, unfamiliar or exotic currency pairs?
One of the basics of learning forex and learning to trade is to know currency pairs.
Major pairs: They are the most traded pairs in the world and the dollar and the euro are the most popular at all.
These are the pairs that the US dollar is not a part of. They are less popular and liquid than the major pairs, for example: EURCHF, GBPJPY, GBPAUD.
You have to know the unfamiliar currencies when learning forex and learning to trade. Unfamiliar or exotic currencies are traded less frequently than minor pairs because they are volatile and have less liquidity which increases their spread, and contain one major currency paired with the currency of a rising economic country such as: US dollar / Russian ruble USDRUB, US dollar / Mexican peso USDMXN, US dollar / Polish zloty USDPLN.