Around us, there are still many people who don't know what forex is. This is a crowed market but still strange to a part of the world at all. I got an idea of other friend who want us to define "What is forex?" in two sentence. We may have various knowledge about this, just make it known as simply as possible.
What is forex?
- Thread starter fututraz11
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Agree. There are still many in public do not know what forex is.
Trading forex is trading in FOReign EXchange market. Making profits by buying & selling currency.
Hope it makes sense.
Trading forex is trading in FOReign EXchange market. Making profits by buying & selling currency.
Hope it makes sense.
Can we see the 4x as simply gambling?
like walking into the bookies, placing a bet.
I've read that it's just a huge scam, unsure even what the odds are to make money, I have read so many times that, new traders are busted, the percentage is in the 90's.
The question isn't if it's possible to make money from the Forex market,
toss a coin heads = long and tails = short
Your going to hit some cash sometime.
Consistency, that's what we are all talking about, can we make money consistently
Up or Down, and leave the sideways well alone......
like walking into the bookies, placing a bet.
I've read that it's just a huge scam, unsure even what the odds are to make money, I have read so many times that, new traders are busted, the percentage is in the 90's.
The question isn't if it's possible to make money from the Forex market,
toss a coin heads = long and tails = short
Your going to hit some cash sometime.
Consistency, that's what we are all talking about, can we make money consistently
Up or Down, and leave the sideways well alone......
If trading Forex without any knowledge or strategy, it definitely equals to Gambling.
Just like any other investment tools: stock, options, etc
Just like any other investment tools: stock, options, etc
Forex, stocks, options, etc. all require a lot of knowledge and strategy. That doesn't mean that one cannot succeed in the just by pure luck, like with any other thing in this life.
Hello,
May different people had different thoughts on forex and as mentioned ,some often compared it with gambling..but the insight of it is different.
Since forex never offers guaranteed profits for anyone and it all based on the speculations.So,yes its a kind of gambling..but its good to say most renowned and widely respected form.Completely legal and here not everything depends on the fate or luck,what ever,but more the expertise means more the knowledge and more the success,it means more money.
so what's wrong in it.cheers Happy Trading
Thanks:
Albert
May different people had different thoughts on forex and as mentioned ,some often compared it with gambling..but the insight of it is different.
Since forex never offers guaranteed profits for anyone and it all based on the speculations.So,yes its a kind of gambling..but its good to say most renowned and widely respected form.Completely legal and here not everything depends on the fate or luck,what ever,but more the expertise means more the knowledge and more the success,it means more money.
so what's wrong in it.cheers Happy Trading
Thanks:
Albert
I suppose you could look at Forex as a kind of gambling. You're putting your money on a possible outcome and hope to collect in the end.
Luck does play a part, but like some games of chance, skill plays a very big part as well. Sit down at a roulette wheel and skill has little to do with the outcome - it's pure chance. Sit down at a poker table and skill comes into it. You might beat a skilled played for a while, but in the long run, the poker expert will walk away with the most money.
Consistent forex trading comes from a combination of skills, not least of which is money management. Knowing how much to risk at any given moment. Even the best traders find themselves in losing "hands" from time to time, so knowing when to get out of trade will make or break.
Yes, there is an element of chance, but skill tips the odds in your favor.
Luck does play a part, but like some games of chance, skill plays a very big part as well. Sit down at a roulette wheel and skill has little to do with the outcome - it's pure chance. Sit down at a poker table and skill comes into it. You might beat a skilled played for a while, but in the long run, the poker expert will walk away with the most money.
Consistent forex trading comes from a combination of skills, not least of which is money management. Knowing how much to risk at any given moment. Even the best traders find themselves in losing "hands" from time to time, so knowing when to get out of trade will make or break.
Yes, there is an element of chance, but skill tips the odds in your favor.
demo
Traders need to be prepared to learn and educated themselves first, and experience a period of trial and error before they find a system they’re comfortable with and they regularly make winning trades. This is why a forex demo account is so useful – traders that don’t bother simply become a statistic…
Traders need to be prepared to learn and educated themselves first, and experience a period of trial and error before they find a system they’re comfortable with and they regularly make winning trades. This is why a forex demo account is so useful – traders that don’t bother simply become a statistic…
Hi
Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange).
Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange).
Forex is known as trading in foreign exchange. I would like to add something here. Forex is not a gambling. Its just like other businesses in the world. When you are in any business, you are into the risk. The same risk is here also. So, I don't agree that its gambling.
Forex, which is an abbreviation for the phrase “foreign exchange,” has to do with the accurate and timely calculation of the rate of exchange between any two national currencies. Forex impacts the lives of a number of persons daily. Here are a few examples of how forex works in various scenarios.
Forex refers to the biggest, freest marketplace in the world: the global trading of different nation's currencies or money. Dollars, euros, pounds and yen are all examples of currencies. If you live in a country that counts money in dollars, then euros are foreign currency to you. If you want to pay dollars to someone who uses euros, the two you will have to engage in foreign exchange, or forex.
It's elementary supply and demand. If I have lots of dollars and few euros, your dollar is worth only a small number of euros to me; perhaps only a fraction of a euro. On the other hand, if I have a shortage of dollars (and need them to pay someone else), then I will give you more euros for your dollar. If we can negotiate a mutually agreeable exchange rate - X dollars for Y euros - then we can do business.
Forex refers to the biggest, freest marketplace in the world: the global trading of different nation's currencies or money. Dollars, euros, pounds and yen are all examples of currencies. If you live in a country that counts money in dollars, then euros are foreign currency to you. If you want to pay dollars to someone who uses euros, the two you will have to engage in foreign exchange, or forex.
It's elementary supply and demand. If I have lots of dollars and few euros, your dollar is worth only a small number of euros to me; perhaps only a fraction of a euro. On the other hand, if I have a shortage of dollars (and need them to pay someone else), then I will give you more euros for your dollar. If we can negotiate a mutually agreeable exchange rate - X dollars for Y euros - then we can do business.
Forex stand for foreign currency exchange where people buy and sell different types of currencies to make money.Forex trading is better than stock market investment as it needs less investment.
What is Forex ?
There are lots of people already give their answers and these answers are very good , now i thought that i should also give my opinion at this topic
The Forex means Foreign Exchange where all currencies of the world are bought and sold.
In this market there are buyers and sellers or they buy and sell currency and this all process is called trade. Usually all buyers or sellers trade through broker.
Note : you have to choose a broker very carefully because he is your all manager and over the counter (OTC).
The forex market has lots of currency but there are some popular ones such as USD, GBP, EUR, JPY, AUD, NZD and these all are work in pairs like USDGBP, GBPEUR, JPYGBP.
Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.
There are lots of people already give their answers and these answers are very good , now i thought that i should also give my opinion at this topic
The Forex means Foreign Exchange where all currencies of the world are bought and sold.
In this market there are buyers and sellers or they buy and sell currency and this all process is called trade. Usually all buyers or sellers trade through broker.
Note : you have to choose a broker very carefully because he is your all manager and over the counter (OTC).
The forex market has lots of currency but there are some popular ones such as USD, GBP, EUR, JPY, AUD, NZD and these all are work in pairs like USDGBP, GBPEUR, JPYGBP.
Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.
The foreign exchange (otherwise called the FX or forex) market is a worldwide commercial center for trading public monetary forms against each other. On account of the overall reach of exchange, trade, and money, forex markets will in general be the biggest and most fluid resource markets on the planet.
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