This is a quick blog on forex trading for beginners. In this first of many articles, I’ll cover a fundamental aspect of the foreign exchange – currency pairs. Then I’ll explain what fire is and the different markets you can trade in…
Currency trading is simply the buying and selling of currencies from various countries. You might think it’s easy – it’s not. It takes a certain skill set to be successful, and a certain mental attitude.
Trading in the forex market involves the buying of one currency and the sale of another. You make money when you purchase lower priced foreign currency and re-sell higher priced foreign currency. It goes the other way around as well. You lose money when you purchase too much currency and sell too little.
Trading is done twenty-four hours a day, six days a week.
So, what is so appealing about trading the forex? The answer is simple: the potential for large amounts of money. This is probably the main reason that so many people get involved with the forex. The potential for making a lot of money is a very seductive feature of the forex. Of course, you need to learn how to trade the market before you are able to put any money into your trades.