Hello guys, I am sure you've seen many threads on nairaland about forex trading, many questions have been asked on what is forex trading and how one can earn from it and so on, the goal of this thread like many others is to explain what forex trading is and how one can earn from it.

What is forex?

Quite simply, it’s a global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
The FORiegn 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 per day volume of the New York Stock Exchange (NYSE), the foreign exchange market looks absolutely ginormous with its $6.6 TRILLION a day trade volume.
That’s trillion with a “t”.

How do one earn in forex?

let me use lay man terms in explaining this:

Let's say you live abroad in the United States to be precise and you decided to visit your home country Nigeria to spend the holidays and upon your arrival at the airport you went to the exchange booth to exchange the money you have at your disposal which is in USD to the Nigerian naira, so you handed the cashier $4000 dollars which is the whole money you came with and at the exchange rate of $1=400naira she gives you 1,600,000naira (4000 [the initial money you came with] x 400 [the exchange rate]).
So, after all your expertise and expenditure in the country (Nigeria) you decided to return back to America and while you where at the airport before you boarded your flight back to America you went to the exchange booth to exchange the change of the 1,600,000naira you were given upon your arrival

So you gave the cashier 900,000 which means you spent 800,000 (1,600000-800,000 = 800,000)
but suprisingly, you lifted up your head and saw on the counter that the naira has appreciated and is now $1=400naira.

So at the current exchange rate of $1=200naira the cashier suprisingly gives you $4000 which is (800,000 [the change out of the initial 1.6million you were given] / 200 [the current exchange rate])

Remember you came with $4000 at the exchange rate of $1=400naira and after spending 800,000 while staying in Nigeria and handing over to the cashier 800,000 (which is the balance of the 1,600,000 naira you were given) you still have back your $4000 which means you made a profit of $4000 = 800,000 (4000 x 200).

So, in forex trading you gain money by buying a currency when it is low (depreciated) and selling it when it is high (appreciated).

I hope you understand? but it's not that simple as that, there's alot of technical analysis and so on but theirs a simplier alternative called Binary Option.

like the word Binary as we all know is a register of computer science (0 and 1) it means you are to choose between two options, no much analysis needed if a currency will RISE base on your chart and other indicators which you've test run you will choose RISE if it is going to FALL you'll choose FALL.

And that's how you'll win, check my signature for more details or you can join our WhatsApp group via the link below.


https:///FCL8BDSlLAuAxdekNO6s2c

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