Posts

### 9 Starting Forex

Image
There are many currencies in the world that you can Trade, but only focus on Trading Major Currencies because is cheap to trade them 8 Major and  most traded  currencies  (in no specific order) 1. U.S. Dollar (USD) 2. Canadian Dollar (CAD) 3. European (EUR) 4. Great British Pound (GBP) 5. Swiss franc (CHF) 6. New Zealand Dollar (NZD) 7. Australian Dollar (AUD)  8. Japanese Yen (JPY) Each Currency is named using the Three Character Symbols, Know these Currency Symbols USD, CAD, EUR, GBP, CHF, NZD, AUD, and JPY Currency Pairs Currencies are Traded in Pairs because you bet a value of a Currency against another currency For example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY). When you trade in the forex market, you buy or sell in currency pairs. The currency pairs listed below are considered the “majors.” These pairs all contain the U.S. dollar (USD) on one side and are the most frequently traded. Th...

##4 Clarity (Banks and Liquidity Providers)

Do not confuse NORMAL Banks with Liquidity Providers Banks. Normal banks are the one we are used to, they help us to make transactions locally and internationally and they are not directly involved in this speculation of Forex Trading Then there are Liquidity Providers Banks. this are banks that created Forex Trading, and they participate in forex trading to make money. They make money by making forex Traders Lose and Every Forex Trader should be aware of them because you wont Win until you understand how they work and how to Trade in Line with them. Truth. Only 5% of Traders in the world win in forex, then 95% lose. If you trade forex you must be will to be smart because it will be your war agaist Banks that want to take you money while you also want to take thier money How the forex Banks Work The banks will buy and sell the orders from Traders, then the Computer of the Banks is programmed in a way that it will go randomly hitting Stop Losses to make Traders lose, while Avoiding to H...

##3 Forex Network (Banks, Brokers, Retail Trader)

Image
Forex Participant No One Actually owns forex, but companies, banks and other mega businesses with lot of money can cause currency value to go up or down because they can spent millions or billions in Foreign Exchange when they buy stock, ect. These companies buy and sell items and invest money across countries and cause currency to gain or lose value. However, Forex Participators can be Simplified into 3 groups. Which are Banks , Brokers and Us ( Retail Traders ). We do not include other companies because they buy though Banks, so the Banks represent all other companies, and the banks are the Ones who have high influence in forex because forex was created when Banking Computers Exchange Currencies when executing international transactions. Banks are many, every country has its Minor Banks and Major Reserve Bank that participates in forex to determine value of its country currency. As a result there's no One Bank that Controls Forex, all Major Banks are Having Major Influence In Fo...

##2. the Birth of Forex Trading ( Retail Trading or Speculation)

Image
This Forex Trading we do on our Personal Computers or Phones is also called Retail Trading or Speculation. Speculation means you guess (predict). Is Similar to betting. Here you use forex information to guess or predict the Next Direction Forex or Exchange Rates What is Forex Trading In Real Life people and companies buy items across countries, Demand and Supply goes up and Down, as a result Exchange Rates goes up and down, meaning value of a currency is also going up and down. NB Since Computers are Monitoring and determining the Currency Exchanges, the computers can draw  Chats that shows Areas where a Currency is likely to gain or lose value (Area where a currency can be demanded more or less, also area where exchange rates can go up or down). :) Therefore, when Retail Trader like me and you sees the Areas where Currency is likely to go up or down, is our Opportunity to Bet. If we chose right direction we win, if we chose wrong dicrection we lose, and we can control how much w...

Understanding the Chat, and Forex Candle Sticks

##1. What it Forex? What is Forex Trading?

Image
Before we can understand Forex Trading, what it Forex?? forex is Just an Online  Market Forex also called ( foreign exchange market ,  FX , or  currency market ) is  an Online Market where you can Buy or Sell Currencies. The currency is the money that a particular country uses. Example Cindy is in South Africa, she buys a pair of shoes online from Vans Store in United States. The pair of shoes cost $ 20 in USA currency (Dollar) and Cindy buys with South African currency (Rand). For Cindy to be able to buy the shoes, her money has to be converted to dollars, in forex we say she buys dollars or Dollars are sold to Rands. Buy and Sell only means one currency is converted to another, this conversion is called Forex (foreign exchange) Forex happen online between Computerized Bank Accounts. Cindy buys $ 20 shoes through her Capitec Bank. The Computer of Capitec Bank will read Exchange Rates from Forex Computers and know how much Rands are Equivalent to $ 20 and convert the...

4. When Can You Trade Forex?