Seeing so many queries circulating on Google from the beginners of Forex trading,forex trading for beginners, binary forex trading for beginners , how to play forex trading for beginners, learn forex trading for beginners how to make money with forex trading for beginners, how to start forex trading for beginners, introduction to forex trading for beginners, pdf best books on fore trading for beginners, so we decided to write an article on it
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The foreign exchange market is global
There is a decentralized financial market in the world in which money is traded. That is, the currency of one country can be bought for the currency of another. The exchange rate of each country's currency varies from market to country and fluctuates over time
Forex trading is a business and it is not very difficult to become a billionaire in it, as a foreign exchange trader trading forex is forex trading. At first, this may seem like an easy task, but later on, every professional trader realizes that trading is a complex process. These complications need to be well understood
Forex can make you a billionaire if you work with enough patience and perseverance because it can't happen overnight or in a few months. There will be many challenges that you will be able to meet with a good broker who will not deceive you. However, you also need to be very careful about these brokers. Which we will mention later
Forex trading The foreign exchange market, also known as the "foreign exchange" or "FX" market, is a global market where currencies are traded. It is a centralized market where transactions are made. Rather, over-the-counter (OTC) foreign exchange transactions are carried out electronically, meaning that all trade transactions are carried out by computers through traders and other market participants around the world
The Forex market is the largest financial market in the world where the average daily turnover continues to grow. The world's daily exchange transactions are estimated at 4 4 trillion, of which 80% is based on controversially speculated exchange rates to benefit from trade
There is a lot of liquidity in the market, the amount of liquidity means that there is a lot of buying and selling in the market at a particular time. This is a very important factor that allows one to easily buy and sell currencies, and especially from an investor's point of view, to determine how easily a currency can be valued in a given period of time. May change
Trading in the foreign exchange market involves buying and selling one currency at a time. This is because the value of one currency is compared to that of another and it is compared to their prices. A retailer's point of view is to speculate on the value of another currency from foreign exchange trading
Each currency pair is bought or sold. If you expect the euro to rise against the US dollar, you can buy a pair of euro / US currency. That way, you will have to buy the EUR / USD pair at a lower price to sell it at a higher price later, resulting in a profit. You can sell a pair of currencies ie you sell euros and buy US dollars
Simply put, buying or selling different currency pairs. Suppose you bought a euro for $ 100 or a Japanese yen, Saudi riyal or any other pair of currencies, you can make a profit by selling it when that currency became expensive
However, the danger is always there. If you buy the euro against the US dollar, hopefully the value of the euro is going to rise further, but instead the US dollar strengthens further, you will suffer a loss. So, in addition to these benefits, you should always consider the risks involved
Forex Market Trading Sessions
The currency exchange market never sleeps, and prices fluctuate constantly. It is the only market that is open 24 hours a day, five days a week. A large number of currencies are traded in Zurich, Hong Kong, New York, Tokyo, Frankfurt, London, Sydney, Paris and other global financial centers. This means that the interbank market is always open - when the working day ends in one part of the world, the banks of the other hemisphere are already open and business resumes
No time limit - a very important condition for traders with busy work schedules. They do not have to worry about the opening and closing hours of trading sessions in the international bank market and they are free to arrange their trading at any time, as Forex traders do not care who Sa Bank provides liquidity for their transactions
But liquidity in the foreign exchange market can fluctuate during the day, depending on when the banks are operating (when liquidity falls, the rate of change in prices slows down). For example, pairs with the Japanese yen will be the most liquid during Japanese bank hours
Here you can find opening and closing times of trading sessions on the interbank market (such as high liquidity periods), which are determined by the opening hours of the largest banks in each time zone
Sydney
7:00 a.m. to 4:00 p.m. (CET)
Tokyo
7:00 a.m. to 4:00 p.m. (CET)
London
3:00 PM - 12:00 AM (CET)
New York
8:00 PM - 5:00 AM (CET)
Participating in the foreign exchange market
The foreign exchange market consists of various participants, also called foreign exchange market players, who trade in the market for a variety of reasons. This means that participants in the foreign exchange market are not just for speculation. As a result, each of the participants contributes to a market that provides excellence and stability
The key players in the market are
Governments and the central bank
Commercial banks and companies
Hedge fund
Brokerage companies
Investor
Retail Forex Trader
As you can see the foreign exchange market is complex but not so difficult to understand. You can become one of the forex participants in just a few minutes and easily start earning more and more money. Forex trading requires the use of online trading platforms, meaning you will need brokers
How to choose good and experienced brokers is well presented on our website
Now if you have decided to get involved in this business then first of all you need a broker. There are so many brokers online I would recommend you XM , IQ Option , FBS brokers. You don't have to spend your money on Forex right away. First you create a demo account
Demo account
Demo account uses virtual money. Real Money Saves If you have no idea how to trade on a trading platform, a demo account will help you understand its features and prevent accidental trading. We can say that demo account is a good choice to start trading. You can test strategies without losing money
Most brokers offer practice demo accounts that allow you to test the Forex market using virtual data with virtual money. Learn how to trade using a demo account. You will be able to practice. Choose a demo when registering a trading account
Open a demo account
If you are not a beginner and understand Forex trading and want to open a real account
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