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|Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 5:45pm On Feb 07, 2016|
As much as my busy schedule wont allow me to do this ,I still feel I should make up time to open this thread to educate my clients and subscribers far and near, who have been asking me to put them through how to make money from the FOREX MARKET and maybe to add it to their PLAN'B' Portfolio.
I will try as much as possible to start from the preliminary stage and also make sure that every questions are answered accordingly. I hereby warn followers to stay focus on this lectures and never see FOREX as a get-rich-quick-scheme.
I want you to also prepare your mind as someone that is taking up a new career. Like I do tell my trainees that becoming a trader in the Forex Market can be likened to someone that want to become a Lawyer or a Doctor,you will have to go through schooling for a certain period of time.
Forex is a career option that you can explore,therefore you have to be trained over a period of time. Not the usual 5 to 7 hours some trainers preach around. You have to be trained over a period of time.
I will also like to inform you that there are TRAINERS and TRADERS. That someone is a TRAINER doesn't mean he/she is a professional TRADER. Anybody can call himself/herself a TRAINER but becoming a REAL TRADER is what we will be doing here.
I welcome all experts and professional TRADERS alike to this group and let us do it together, this is my little cent of finding solution to the unemployment issue in the country.
I also want to inform followers alike that Whatever thing I say here is what I do,the few that know me already knew what I dont do I dont teach,what I teach is what I do. I will try as much as possible to give the lectures the ordinary man way and later in the future I will open our eyes to how to profit from the Forex market either we trade or not.
Lets get started.
INTRODUCTION: FOREX DEFINED IN THE ORDINARY MAN LANGUAGE
What Is Forex?
If you’ve ever travelled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet (if you’re a dude) or purse (if you’re a lady) or man purse (if you’re a metrosexual) into the currency of the country you are visiting.
You go up to the counter and notice a screen displaying different exchange rates for different currencies. You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!” (This excitement is quickly killed when you stop by a shop in the airport afterwards to buy a can of soda and, all of a sudden, half your money is gone.)
When you do this, you’ve essentially participated in the forex market! You’ve exchanged one currency for another. Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed. It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by winetapper: 10:30pm On Feb 07, 2016|
Am so glad to take the front seat..
Aleairhub come oo extra seat dey for plan B
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by winetapper: 10:30pm On Feb 07, 2016|
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 10:56pm On Feb 07, 2016|
This Forex mini-course is designed to teach you the basics of the Forex market and Forex trading in a non-boring way. I know you can find this information elsewhere on the web, but let’s face it; most of it is scattered and pretty dry to read. I will try to make this tutorial as fun as possible so that you can learn about Forex trading and have a good time doing it.
Upon completion of this course you will have a solid understanding of the Forex market and Forex trading.
Forex education is crucial for beginners.We, the FX-Men, firmly believe this. This class is designed to help you acquire the skills, knowledge, and special abilities to become a successful trader in the foreign exchange market.Our definition of a successful trader is having the ability to do three things:
1. Make pips
2. Keep pips
3. Repeat step 1 and 2
If you can repeatedly do these three things, then you're on your way to being a superstar Forex trader! But we warn you, it's no cakewalk.
The foreign exchange market, which is usually known as “forex” or “FX,” is the largest financial market in the world. Compared to the measly $22.4 billion a day volume of the New York Stock Exchange, the foreign exchange market looks absolutely ginormous with its $5 TRILLION a day trade volume.
Check out the graph of the average daily trading volume for the forex market, New York Stock Exchange, Tokyo Stock Exchange, and London Stock Exchange below:
The currency market is over 200 times BIGGER! It is HUGE!
That huge $5 trillion number covers the entire global foreign exchange market, BUT retail traders (that’s us) trade the spot market and that’s about $1.49 trillion. So you see, the Forex market is definitely huge, but not as huge as the media would like you to believe.
What Is Traded In Forex?
The simple answer is MONEY.
Because you’re not buying anything physical, forex trading can be confusing.
Think of buying a currency as buying a share in a particular country, like buying stocks of a company. The price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.
In forex trading, when you buy, say, the Japanese yen, you are basically buying a “share” in the Japanese economy. You are betting that the Japanese economy is doing well, and will even get better as time goes. Once you sell those “shares” back to the market, hopefully, you will end up with a profit.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country’s economy, compared to other countries’ economies.
Symbol Country Currency Nickname
USD United States Dollar Buck
EUR Euro zone members Euro Fiber
JPY Japan Yen Yen
GBP Great Britain Pound Cable
CHF Switzerland Franc Swissy
CAD Canada Dollar Loonie
AUD Australia Dollar Aussie
NZD New Zealand Dollar Kiwi
Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.
Take NZD for instance. NZ stands for New Zealand, while D stands for dollar. Easy enough, right?
The currencies included in the chart above are called the “majors” because they are the most widely traded ones.
Any question ?
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by dejsmiles(m): 11:45pm On Feb 07, 2016|
Hw do someone make money from it when u're not a trader. Pls expanciate on that .
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by AleAirHub(m): 3:16am On Feb 08, 2016|
winetapper:Seat is book already.....
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 5:59am On Feb 08, 2016|
One step at a time. We will surely get there,just keep following. Remember I said Forex is a career,it can be likened to someone that want to become a Doctor,Engineer or Lawyer,you will have to go to school for a minimum of 4 years to learn all the rudiments. So Forex is a career that needed be learned for some time also.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 7:44am On Feb 08, 2016|
Buying And Selling In Currency Pairs
Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).
When you trade in the forex market, you buy or sell in currency pairs.Imagine each currency pair constantly in a “tug of war” with each currency on its own side of the rope. Exchange rates fluctuate based on which currency is stronger at the moment.
Major Currency Pairs
The currency pairs listed below are considered the “majors”. These pairs all contain the U.S. dollar (USD) on one side and are the most frequently traded. The majors are the most liquid and widely traded currency pairs in the world.
Currency Pair Countries FX Geek Speak
EUR/USD Euro zone / United States “euro dollar”
USD/JPY United States / Japan “dollar yen”
GBP/USD United Kingdom / United States “pound dollar”
USD/CHF United States/ Switzerland “dollar swissy”
USD/CAD United States / Canada “dollar loonie”
AUD/USD Australia / United States “aussie dollar”
NZD/USD New Zealand / United States “kiwi dollar”
Major Cross-Currency Pairs or Minor Currency Pairs
Currency pairs that don’t contain the U.S. dollar (USD) are known as cross-currency pairs or simply as the “crosses.” Major crosses are also known as “minors.” The most actively traded crosses are derived from the three major non-USD currencies: EUR, JPY, and GBP.
Currency Pair Countries FX Geek Speak
EUR/CHF Euro zone / Switzerland “euro swissy”
EUR/GBP Euro zone / United Kingdom “euro pound”
EUR/CAD Euro zone / Canada “euro loonie”
EUR/AUD Euro zone / Australia “euro aussie”
EUR/NZD Euro zone / New Zealand “euro kiwi”
Currency Pair Countries FX Geek Speak
EUR/JPY Euro zone / Japan “euro yen” or “yuppy”
GBP/JPY United Kingdom / Japan “pound yen” or “guppy”
CHF/JPY Switzerland / Japan “swissy yen”
CAD/JPY Canada / Japan “loonie yen”
AUD/JPY Australia / Japan “aussie yen”
NZD/JPY New Zealand / Japan “kiwi yen”
Pair Countries FX Geek Speak
GBP/CHF United Kingdom / Switzerland “pound swissy”
GBP/AUD United Kingdom / Australia “pound aussie”
GBP/CAD United Kingdom / Canada “pound loonie”
GBP/NZD United Kingdom / New Zealand “pound kiwi”
Pair Countries FX Geek Speak
AUD/CHF Australia / Switzerland “aussieswissy”
AUD/CAD Australia / Canada “aussieloonie”
AUD/NZD Australia / New Zealand “aussie kiwi”
CAD/CHF Canada / Switzerland “loonieswissy”
NZD/CHF New Zealand / Switzerland “kiwi swissy”
NZD/CAD New Zealand / Canada “kiwi loonie”
Exotic Currency Pairs
Exotic currency pairs are made up of one major currency paired with the currency of an emerging economy, such as Brazil, Mexico, or Hungary. The chart below contains a few examples of exotic currency pairs.
Depending on your forex broker, you may see the following exotic currency pairs so it’s good to know what they are. Keep in mind that these pairs aren’t as heavily traded as the “majors” or “crosses,” so the transaction costs associated with trading these pairs are usually bigger.
Currency Pair Countries FX Geek Speak
USD/HKD United States / Hong Kong
USD/SGD United States / Singapore
USD/ZAR United States / South Africa “dollar rand”
USD/THB United States / Thailand “dollar baht”
USD/MXN United States / Mexico “dollar peso”
USD/DKK United States / Denmark “dollar krone”
USD/SEK United States / Sweden
USD/NOK United States / Norway
It isn’t unusual to see spreads that are two or three times bigger than that of EUR/USD or USD/JPY. So if you want to trade exotics currency pairs, remember to factor this in your decision.
Any Question ?
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by winetapper: 9:52am On Feb 08, 2016|
I do not blame the person that asked how do one start making money...
Let me not form as if I am understanding it very well but please continue the more I follow everything would become clear
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 10:26am On Feb 08, 2016|
I intended to groom us and make us a better Forex trader sooner than later but it seems we are much concerned about how to make the money out of the Forex market without being a trader. If that is what we all want ,then it makes things easier for me but one sure thing we may never become a trader. Being a trader and in control of your funds,I think,is the best option.
Can I have other follower's opinion so I know what to do next?
Making money without being a trader or becoming a trader ,which one do you prefer. Make your choice known .
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by emeviks: 11:16am On Feb 08, 2016|
For all Newbie traders...go to www.babypips.com to learn more about forex trading. be well grounded before going on Live Trading!!!
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 11:23am On Feb 08, 2016|
@Emeviks, thumb up ! I wish everyone can go their as you said and come back with anything not so clear to them but am afraid not all will have the patient to go through all the classes. As you can see they want to start making the money without being trader,one of the many reason i want to be doing it little by little here. Lets see as it goes sha,if all can go their then I think my work can be lessened and we tackle the frustrating aspects here on the thread.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Chidonsky: 11:25am On Feb 08, 2016|
@abbeyforex,pls continue with your teaching that is the purpose for the thread.I have acquired few knowledge about forex but i decide to unlearn what i have learnt for the purpose of relearning from you.Those who fail to learn end up losing to quickly,while those who are willing to learn earn.You can't imagine i just learnt about different currency categories even though am not a minor.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 11:49am On Feb 08, 2016|
Lets hear from others . If majority of people should prefer to read online and come back here to ask questions,then it lessen my work. And I can concentrate the spare time on more analysis and trade set up for my signal group.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Chidonsky: 1:09pm On Feb 08, 2016|
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by winetapper: 1:45pm On Feb 08, 2016|
abbeyforex:Go on with any plan you have sir
This is the first time am learning or reading about FX.
Its like an art student in ss3 changing to science during waec.
Please ride on soon it would be clear becos I would still go through this thread from page 0 to understand well sir.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Dumdum217(m): 3:21pm On Feb 08, 2016|
Please continue the way you planned biko..
Those who wants to jump should go to advance thread on this forum.
Your step by step is what I want
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by cyberhike(m): 4:49pm On Feb 08, 2016|
i m here to stay... our wonderful teacher please ride on..
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by iyoti: 6:51am On Feb 09, 2016|
Pls continue, this is very informative. Do not allow those people looking for money distract your good cause for us all. Thumbs up bro...
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 7:02am On Feb 09, 2016|
Market Size And Liquidity
Unlike other financial markets like the New York Stock Exchange, the forex market has neither a physical location nor a central exchange. The forex market is considered an Over-the-Counter (OTC), or “Interbank” market due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period. This means that the spot forex market is spread all over the globe with no central location. They can take place anywhere, even at the top of Mt. Everest or Olumo Rock!
The forex OTC market is by far the biggest and most popular financial market in the world, traded globally by a large number of individuals and organizations.In the OTC market, participants determine who they want to trade with depending on trading conditions, attractiveness of prices, and reputation of the trading counterpart.
The chart below shows the ten most actively traded currencies.
The dollar is the most traded currency, taking up 84.9% of all transactions. The euro’s share is second at 39.1%, while that of the yen is third at 19.0%. As you can see, most of the major currencies are hogging the top spots on this list!
*Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%
The chart above shows just how often the U.S. dollar is traded in the forex market. It is on one side of a ridiculous 84.9% of all reported transactions!
Any Question ?
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 7:04am On Feb 09, 2016|
The Dollar is King in the Forex Market
You’ve probably noticed how often we keep mentioning the U.S. dollar (USD). If the USD is one half of every major currency pair, and the majors comprise 75% of all trades, then it’s a must to pay attention to the U.S. dollar. The USD is king!
In fact, according to the International Monetary Fund (IMF), the U.S. dollar comprises roughly 62% of the world’s official foreign exchange reserves! Because almost every investor, business, and central bank own it, they pay attention to the U.S. dollar.
There are also other significant reasons why the U.S. dollar plays a central role in the forex market:
The United States economy is the LARGEST economy in the world.
The U.S. dollar is the reserve currency of the world.
The United States has the largest and most liquid financial markets in the world.
The United States has a super stable political system.
The United States is the world’s sole military superpower.
The U.S. dollar is the medium of exchange for many cross-border transactions. For example, oil is priced in U.S. dollars. So if Mexico wants to buy oil from Saudi Arabia, it can only be bought with U.S. dollar. If Mexico doesn’t have any dollars, it has to sell its pesos first and buy U.S. dollars.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 7:14am On Feb 09, 2016|
Speculation in the Forex Market
One important thing to note about the forex market is that while commercial and financial transactions are part of trading volume, most currency trading is based on speculation.
In other words, most trading volume comes from traders that buy and sell based on intraday price movements.The trading volume brought about by speculators is estimated to be more than 90%! The scale of the forex market means that liquidity – the amount of buying and selling volume happening at any given time – is extremely high.
This makes it very easy for anyone to buy and sell currencies.From the perspective of an investor, liquidity is very important because it determines how easily price can change over a given time period. A liquid market environment like forex enables huge trading volumes to happen with very little effect on price, or price action.
While the forex market is relatively very liquid, the market depth could change depending on the currency pair and time of day.
• Why is the Forex market so popular?
Being a Forex trader offers the most amazing potential lifestyle of any profession in the world. It’s not easy to get there, but if you are determined and disciplined, you can make it happen. Here’s a quick list of skills you will need to reach your goals in the Forex market:
Ability - to take a loss without becoming emotional
Confidence - to believe in yourself and your trading strategy, and to have no fear.
Dedication – to becoming the best Forex trader you can be
Discipline - to remain calm and unemotional in a realm of constant temptation (the market)
Flexibility - to trade changing market conditions successfully
Focus – to stay concentrated on your trading plan and to not stray off course
Logic – to look at the market from an objective and straight forward perspective
Organization – to forge and reinforce positive trading habits
Patience – to wait for only the highest-probability trading strategies according to your plan
Realism – to not think you are going to get rich quick and understand the reality of the market and trading
Savvy – to take advantage of your trading edge when it arises and be aware of what is happening in the market at all times
Self-control – to not over-trade and over-leverage your trading account
As traders, we can take advantage of the high leverage and volatility of the Forex market by learning and mastering an effective Forex trading strategy, building an effective trading plan around that strategy, and following it with ice-cold discipline.
Money management is key here; leverage is a double-edged sword and can make you a lot of money fast or lose you a lot of money fast. The key to money management in Forex trading is to always know the exact dollar amount you have at risk before entering a trade and be TOTALLY OK with losing that amount of money, because any one trade could be a loser. More on money management later in the course.
Advantages Of Forex Trading
There are many benefits and advantages of trading forex. Here are just a few reasons why so many people are choosing this market:
No clearing fees, no exchange fees, no government fees, no brokerage fees. Most retail brokers are compensated for their services through something called the “bid-ask spread“.
No middlemen: Spot currency trading eliminates the middlemen and allows you to trade directly with the market responsible for the pricing on a particular currency pair.
No fixed lot size: In the futures markets, lot or contract sizes are determined by the exchanges. A standard-size contract for silver futures is 5,000 ounces. In spot forex, you determine your own lot, or position size.
Low transaction costs: The retail transaction cost (the bid/ask spread) is typically less than 0.1% under normal market conditions. At larger dealers, the spread could be as low as 0.07%. Of course this depends on your leverage and all will be explained later.
A 24-hour market: There is no waiting for the opening bell. From the Monday morning opening in Australia to the afternoon close in New York, the forex market never sleeps. This is awesome for those who want to trade on a part-time basis, because you can choose when you want to trade: morning, noon, night, during breakfast, or in your sleep.
No one can corner the market: The foreign exchange market is so huge and has so many participants that no single entity (not even a central bank or the mighty Chuck Norris himself) can control the market price for an extended period of time. As Booharry and CeeBeeEnn are bringing up so many policies to frustrate the Importation Business and local Fx market at large,the Forex Market cant be cornered by anybody.
Leverage: In forex trading, a small deposit can control a much larger total contract value. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capital to a minimum.
High Liquidity: Because the forex market is so enormous, it is also extremely liquid. This is an advantage because it means that under normal market conditions, with a click of a mouse you can instantaneously buy and sell at will as there will usually be someone in the market willing to take the other side of your trade. You are never “stuck” in a trade. You can even set your online trading platform to automatically close your position once your desired profit level (a limit order) has been reached, and/or close a trade if a trade is going against you (a stop loss order).
Low Barriers to Entry: You would think that getting started as a currency trader would cost a ton of money. The fact is, when compared to trading stocks, options or futures, it doesn’t. Online forex brokers offer “mini” and “micro” trading accounts, some with a minimum account deposit of $25.We’re not saying you should open an account with the bare minimum, but it does make forex trading much more accessible to the average individual who doesn’t have a lot of start-up trading capital.
Free Stuff Everywhere: Most online forex brokers offer “demo” accounts to practice trading and build your skills, along with real-time forex news and charting services.And guess what?! They’re all free!Demo accounts are very valuable resources for those who are “financially hampered” and would like to hone their trading skills with “play money” before opening a live trading account and risking real money.
Any Question ?
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by winetapper: 8:35am On Feb 09, 2016|
Yes teacher I have a question or request
Hope am not drawing you back.
Please explain some terms used in fx so we can relate well enough.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Chidonsky: 10:15am On Feb 09, 2016|
Abbey forex,does the exchange rate of a currency affect the pressure of buying and selling of their currency pairs?E.g Gbp/usd in real term Gbp is higher than that of usd in exchange rate,so i would assume that gbp will move dollar more in the exchange market.If is the other way round does it mean that the power of price movement depends on the massive demand of that currency not the exchange rate in the global market?
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 10:24am On Feb 09, 2016|
Okay sir !
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 10:30am On Feb 09, 2016|
Exchange rate has nothing to do in this sector. What moves price up and down is the Demand pressure for that particular currency and what contributes, among many other things, to the demand of a particulare currency is how strong the economy of such country is for a particular period of time.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Chidonsky: 11:37am On Feb 09, 2016|
abbeyforex:thanks still following.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 2:22pm On Feb 14, 2016|
Forex vs. Stocks
There are approximately 4,500 stocks listed on the New York Stock exchange. Another 3,500 are listed on the NASDAQ. Which one will you trade? Got the time to stay on top of so many companies?In spot currency trading, there are dozens of currencies traded, but the majority of market players trade the four major pairs. Aren’t four pairs much easier to keep an eye on than thousands of stocks?
That’s just one of the many advantages of the forex market over the stock markets. Here are a few more:
24-Hour Market: The forex market is a seamless 24-hour market. Most brokers are open from Sunday at 4:00 pm EST until Friday at 4:00 pm EST, with customer service usually available 24/7. With the ability to trade during the U.S., Asian, and European market hours, you can customize your own trading schedule.
Minimal or No Commissions: Most forex brokers charge no commission or additional transactions fees to trade currencies online or over the phone. Combined with the tight, consistent, and fully transparent spread, forex trading costs are lower than those of any other market. Most brokers are compensated for their services through the bid/ask spread.
Instant Execution of Market Orders: Your trades are instantly executed under normal market conditions. Under these conditions, usually the price shown when you execute your market order is the price you get. You’re able to execute directly off real-time streaming prices.Keep in mind that many brokers only guarantee stop, limit, and entry orders under normal market conditions.
Short-Selling without an Uptick: Unlike the equity market, there is no restriction on short selling in the currency market. Trading opportunities exist in the currency market regardless of whether a trader is long or short, or whichever way the market is moving. Since currency trading always involves buying one currency and selling another, there is no structural bias to the market. So you always have equal access to trade in a rising or falling market.
No Middlemen: Centralized exchanges provide many advantages to the trader. However, one of the problems with any centralized exchange is the involvement of middlemen. Any party located in between the trader and the buyer or seller of the security or instrument traded will cost them money. The cost can be either in time or in fees.Spot currency trading, on the other hand, is decentralized, which means quotes can vary from different currency dealers. Competition between them is so fierce that you are almost always assured that you get the best deals. Forex traders get quicker access and cheaper costs.
Foreign exchange, as the prime market, generates billions in revenue for the world’s banks and is a necessity of the global markets. Analysts in foreign exchange have very little effect on exchange rates; they just analyze the forex market.
Any Question ?
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Chidonsky: 6:04pm On Feb 14, 2016|
Op,if for example you are trading gbp/usd, does it mean that when price is moving up gbp is going up and when price is going down usd is going down by using their pairing position to judge.If buying and selling is what move price up and down, what are they buying and selling in real terms because they are just represented by candle charts.
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by abbeyforex(m): 8:43pm On Feb 14, 2016|
The subject of Forex is a bit different from the generally known traditional market concept. A simple analysis: Let's assume @ 10am, GBPUSD is 1.5000,then it simply means the amount of Dollars it takes to get 1GBP is. 1.5000USD.
If by 10:30am, it rose to 1.5100,it means the GBP has gained more,become stronger against the USD and the minimum amount of dollars to buy 1GBP at 10:30 is 1.5100.
On the other hand, if at 10:30,the quote read 1.4900,it means the dollar has gained more strength against the pound and it now costs lesser dollar to get 1 pound. Is it clear? if not tell me .
|Re: Make Money From The FOREX MARKET- Either You Are A Trader Or Not. by Chidonsky: 10:24am On Feb 15, 2016|
abbeyforex:tnx man is clearer now.
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