Forex Trading Chain Tutorial: Part-1

What is Forex?

Forex or Spot Forex is the foreign trade. A country’s currency in the Forex market you can buy and sell a country’s currency.
For example, America’s currency is limited or the USA dollar, the currency of Britain or UK pounds. In the forex market by selling dollars to buy a pound or pound-dollar sale. The dollar or the pound currency of the country in which you can trade in the Forex market.

How is it possible to earn from Forex market?

Always currency of the different country is unstabler. You may have seen in the newspapers that the dollar is strong against the dollar, sometimes, sometimes money is expected to strengthen against the dollar. It is the world’s most currencies varies. So, if you are buying the dollar, then the euro’s value against the dollar by selling dollars you can buy the euro. Again, if the euro strengthens against the dollar, the euro and sell dollars more you can get.
There may also be able to sell for $ 100 when you purchase 80 euros. 120 euros and sell dollars after the price was increased. This way, you can earn. Linearly with increase market share at the price of the shares (buy), we can profit. In the Forex market, a currency strong or weak two cases have the opportunity to profit in the Forex market is the biggest advantage.

Forex trading facilities:

  • In the past, only the rich or big banks would have the opportunity to trade the forex market. But now, with the time change and competition increases due to the advent of the forex broker that anyone from any country in the world can trade the forex market.
  • Only 1 dollar to trade Forex as possible. Besides, almost all the benefits of trading with a free demo Brokers you will, that is, with virtual money. First, prepare yourself so you can take a free demo trading and demo trading success of the deposit, you can start the real trade.
  • The scope is too large and the forex market is not possible to manipulate the market. New York is the world’s biggest stock market, stock market and forex market size of more than 5 times. Remember, the value of the dollar or the euro, the government of any country which does not determine the price. The country’s economic situation and financial events in the context of the country’s currency value is automatically changed. You can buy the dollar or the euro, the dollar or the euro purchase price will be for sale in all countries of the world.
  • To trade in the Forex market leverage of the loan facility is available, and so very little movement in the market you can make a good profit.
  • Forex Scalping is a very popular word. This means that for a very short period of open trade. Forex market changes very little good profit. Many of the 10 or 15 seconds to open a trade and take profit when it goes out of the trade.
  • Forex market from Monday to Friday, 5 days a week, day-night stays open for 4 hours. And so, you make business or employer, the forex market, you can trade your convenience.
  • Forex trading you can do at home, there is no need to go outside. And so the family can give you plenty of time.
  • To trade the forex market you need to be online all of the account opening deposit or withdraw from the account also much easier.
  • You can trade well, then we encourage you to deposit your trade and then you can manage them, and you will receive a portion of their profits.
  • Finally, a successful and experienced Forex traders can earn a large amount from the market.

It is recommended, to be an efficient and successful trader, you have to study a lot about the Forex market, will make himself eligible for this market. Forex market without knowing something that no one can earn the first of many. Remember, the forex market is like the stock market is challenging. Initially, the stock market may not know many people that can succeed. However, if you survive for a long time, there is no alternative other than the expert.

In a word, the forex market is not recession. You can just buy because the stock market, forex market, you can either buy or sell.
When stock market is going down and down, in Forex, one currency is always up!

What is required for forex trading?

Your Internet connection to a PC or Windows Mobile? Enough.

How do I sell the dollar or other currency?

If you want to trade forex, you first need to open an account with a forex broker and the deposit to be. You can easily open an account online in minutes. Are you a variety of online currency such as PayPal, Alert Pay, Liberty Reserve, etc. can immediately deposit to your account and you can start trading Forex.
However, most people usually deposit in the bank’s forex brokers. Then, after opening the account, your broker will receive detailed information on bank account number and bank deposit.
When completed, you deposit in your account to trade can begin. Forex trading online is through software. This software can be downloaded for free from your broker website. Broker software is installed with the user name and password when signing in to the pair of chart and price list will be loaded and you open your trade / can close.

What kind of Trade is done in Forex?

Forex currency Treading
Forex currency Treading

The simple answer currency. Because we are not buying anything. So this type of trading may seem somewhat confusing.
When we buy a currency of a country when we are buying some shares, a stock is like buying replacements. The price of the currency of the country’s current and future economic conditions image.
When we Japanese Yen (buy), we basically buy a share of the Japanese economy. We believe that the Japanese economy is improving and will improve further in the future. When we sold the shares (sell) will, I hope we will receive.
In general, the exchange rate of a currency with another currency other than the economy reflects the country’s economy.

Major Currencies:

Forex currency Treading
Forex currency Treading

Currency symbols of the three characters, the first two countries, and the third refers to the name refers to the name of the country’s currency.
In the case of such NZD, NZ has meant that New Zealand, and D refers to the Dollar. Easy, is not it?
Currencies the main reason they are the most commonly traded.
Buck is the USD ‘s nickname.
USD is used as- greenbacks, bones, benjis, benjamins, cheddar, paper, loot, scrilla, cheese, bread, moolah, dead presidents, coco and also cash money is called.

Basic Forex Market

Currency Pair:

Stock market value of shares of any rule set to be the country’s currency. For example, our market share at a share price is determined.
The Forex market is impossible to determine the value of the currency or currencies. Euro or the dollar may not have any value. 1 For example, the money can be found for $ 73. The $ 1 can be obtained only 0.70 euro or 0.93 Australian dollars. If you hold back the Japanese yen, 80 yen, then you will get 1 dollar. So, what is the dollar value? So many of the people who trade the forex market, the dollar will buy?
This is why the Forex market the currency pair is traded through.
For example, EUR / USD (Euro / uesadi), a currency pair. Currently 1 EUR / USD = 1.4434. This means that 1 euro with 1.4434 dollars. Oh, forgot to say, USD = United States Dollar or American Dollar. Simple fact, what we know as the dollar.

Let’s have a look at some other currency pairs:
1 AUD / USD = 1.0543, 1 Australian dollar means that you will receive 1.0543 US dollars.
1 GBP / USD = 1.6422, which means £ 1 to 16422 to get American dollars.
1 NZD / USD = 0.8177, which means the New Zealand dollar to 1 US dollar 0.8177.
1 USD / JPY = 80.29, which means the Japanese yen to 1 dollar in 8029.
1 EUR / JPY = 115.91, which means that 1 Euro you will receive 115.91 Japanese yen.

Now knowing about the currency pair?

Brother, if I write a little capacity? So that means you wrote, 1 EUR / USD = 1.4434 I like EUR / USD writing USD / EUR type, if there is any problem?
Of course not. Remember, however, refers to the first currency of the currency pair with how much you will receive in the next currency.
1 EUR / USD = 1.4434. This means that 1 euro with 1.4434 dollars.
So, 1 USD / EUR 1 billion with instructions how to get euro. The answer is, just the opposite, 1 / 1.4434 or 0.6928.

No more Today,wait for my 2nd tutorial.For contact Email:[email protected]