What Is Forex?
Forex or spot forex is buying or selling foreign currency.In a forex market you can buy one country currency and sell it by another country currency.For an example The currency of USA is dollar and the currency of UK is pound.In a forex market you can buy doollar by selling pound or you can sell dollar by buying pound.
How to Earn money from Forex market?
The currency of different country is all time changeable.several time you see in news paper that dollar is strong against pound and pound is strong against dollar.Suppose one day you have 100 US dollar which you sold and buy 80 EURO by 100 US dollar.After that when the value of EURO has increased you got 120 US dollar by selling it.This way you can earn money
Benefit of Forex Trading:
In past time only rich man can able to take part in forex market. But now a day's every one can trade in forex market.Even now a day's you can start forex trading by only one dollar.Several brokerage house give you virtual money for testing purposes.You can also trade by virtual money from brokerage house.In a forex market you can take leverage loan.This is for make money in very easiest way.scalping forex is a very popular language.By this way you can benefit in very short time.
Time of Forex Trading:
Forex market is open from Monday to Friday,Five days in a week and 24 hours.So if you are a businessman or service holder you can trade in your flexible time.
Instrument that needed for forex trading:
You just need a PC and a internet connection or a windows mobile phone which is supported by internet.
Characteristic of a successfull forex trader:
How can i Buy and Sell Dollar:
1.Make Pips
2.Keep Pips
3.Repeat
How can i Buy and Sell Dollar:
If You want to trade in forex market at first you have to open a account in any forex brokerage house and deposit in it.You can open a account in any brokerage within two minutes.you can open a account by PayPal, alert pay or liberty reserve in online instantly and trade with them.But general people are trading brokerage house with the help of Bank and you will get forex brokerage account number and you will get detail information from bank deposit.You can trade if you complete deposit step.you have to trade by online trading software.All brokerage house will give this software for free.You have to download it at first and install it in your computer.give a username and a password.
What is Trading:
Easy answer is currency.we do not buy really.when we buy a currency actually we are buying some share of a country.The value of currency is a reflection of that countries economic condition.Say when we by a Japanese yen we actually buy a share of japan.
Major Currencies:
Currency have three symbolic letter where first two digit indicate of a country name and last digit indicate the currency of a country.Say in NZD is NZ in Newzleand
D mean Dollar. USD is also called greenbacks,bones, benjis, benjamins, cheddar, paper, loot,scrilla, cheese, bread, moolah, dead presidents, coco and cash money.
D mean Dollar. USD is also called greenbacks,bones, benjis, benjamins, cheddar, paper, loot,scrilla, cheese, bread, moolah, dead presidents, coco and cash money.
