For your information, Forex Trading is the LARGEST market in the world. Yes! You read it right, it’s larger than stocks, future, options combined together. Forex Trading have over USD1.3 trillion per day and the amount is increasing now and then.
Forex Trading or currency trading or foreign exchange (short form for forex) simply means buy or sell a pair of currency. In forex trading, we buy or sell in a pair of currency. For example, in EUR/USD pair, if you’re buying this pair, you’re buying EURO while selling USD and the other way around.
The best thing about forex trading is that you earn no matter the market is up or down provided you are in the same side of the market movement.
You might be asking, is it easy to trade forex? Well, it’s simple yet not easy. However, if you have certain knowledge about it, you will have a handsome of profit. Warren Buffet gaining big profit in forex!
If you’ve been to bank or watch the business time tv news, you’ll notice that there are figures like 1.2345 up or down. That’s the price of currency pair. One move of the last digit (we called it “pip”) is either approximately $1 or $10. Everyday the average of the price move is around 70 to 130 pips.
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