How To Trade Forex In India & What Is Forex Trading ShareMarketDo
What Is Forex Trading
What Is Forex Trading : The Trading Between Two currencies Pairs Is called Forex Trading. because one currency is being bought and another – sold at the same time. In the forex market, $5.3 tril- lion is traded daily, making it the largest and most liquid market in the world. The Trading Between Two currencies Pairs Is called Forex Trading. because one currency is being bought and another – sold at the same time.
How Forex Trading works
Forex Trading Advantages
The Foreign exchange market (also known as Forex, currency market or Forex market) is, by far, the largest financial market in the world. It includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions.The average daily trade in the global Forex and related markets is currently over US$ 3 trillion.
1 – 24 hours a day market :
- The Forex market is open 24 hours a day (except on weekends). So, no matter where you are based, you can trade Forex at your favorite time.
2 – High liquidity:
- Forex market is the biggest financial market in the world averaging over 3 trillion USD daily.
3 – Leverage:
- The leverage on Forex can be as high as 200:1 which means that you can trade up to $100K with just $500.
4 – Easy short selling:
- On Forex it’s as easy to buy a currency pair as to short sell it. There’s no uptick rule like on Nasdaq.
5 – Free commission fees:
- Commission fees are 0 on Forex. The only cost in buying a currency pair is the spread.
6 – Free trading platforms:
- On Forex most brokers offer good trading platforms for free.
7 – Free Demo accounts:
- Most Forex brokers offer free demo accounts which allow you to start practicing with virtual money. This way you can learn Forex without risking your money.source :Text Book Forex Trading
Forex Trading Tips
- Know the Markets
- Forecast the Weather Conditions of the Market
- Know Your Limits,Know Where to Stop Along the Way
- Check Your Emotions at the Door
- Choose the Right Trading Partner for You
- Do Your Homework
- Know Your Self
- Plan your goals
- Choose Top Broker
- Focus on a single currency pairs
- Do what you understand
- Take Control of Your Emotions
- Study your success and failure (It's Depend Upon You)
- Use Stop-Losses
- Study money management
- Study the markets, fundamentals, and technical factors
- Never give up
- Create Your Own Strategy
- Learn Step-by-Step Forex Market
- Stress Less
- Practice Makes Perfect
- Take Risk Because No Risk No Gains
- Daily Trade Avoids
- Know The Charts Signals
- Analyses Your Trades
- Experiment As A Demo Trade
Benefits Of a Forex Market:
Benefits of a 24 hour Forex Market:
- React to global trading opportunities whenever they arise
- Trade when it’s convenient for you
- Take advantage of periods of higher volatility when markets overlap
Most Important Symbols Of Forex Market
Like countries, every currency has its own personality and identity. This guide will give you detailed facts on major currencies, including :- U.S. Dollar
- Australian Dollar
- Euro
- British Pound
- Canadian Dollar
- Swiss Franc
- Japanese Yen
- New Zealand Dollar
Currencies Traded In Forex
| DESCRIPTION | SYMBOL | NICKNAME |
|---|---|---|
| Euro/U.S. Dollar | EUR/USD | Euro |
| Great British Pound/US Dollar | GBP/USD | CABLE |
| U.S. Dollar/Japanese Yen | USD/JPY | YEN |
| U.S. Dollar/Swiss Franc | USD/CHF | SWISS |
| U.S. Dollar/Canadian Dollar | USD/CAD | LOONIE |
| Australian Dollar/U.S. Dollar | AUD/USD | AUSSIE |
| New Zealand Dollar/U.S. Dollar | NZD/USD | KIWI |
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