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What is Forex?

Discussion in 'Forex Beginner Q&A' started by gajoinvest18, Jul 9, 2010.

  1. gajoinvest18

    gajoinvest18 New Member

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    How can you define Forex? As we all know, Forex stands for Foreign Exchange. By the way you understand about it, can you define it your way?
     
  2. GoLearnForex

    GoLearnForex New Member

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    Well it is but learning a Forex trading strategy is easy however you need to be aware of the following:
    A strategy which can make money is not enough, you need to have the right mindset to realize its potential and this is the hard part for most traders, they simply cannot follow their strategy with discipline.

    Discipline is needed by any trader to win at Forex trading and discipline, is the ability to keep losses small! Most traders can't do this, they hate losing and let their losses get out of control. Taking losses is part of Forex trading and if you keep them small, you will preserve your money and be able to hit and hold the big trends, to cover them and make an overall profit.
     
  3. KajolThappar

    KajolThappar New Member

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    Occupation:
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    If you are looking for the right kind of automated forex trading software to boost your trading performance you will need all the help you can get. This is because the forex market is rife with virtually every kind of trading software, all claiming to be the best bet when it comes to honing your trading skills, but not all of which are effective.

    The best automated forex trading software may not exactly come cheap, but if you are just starting out you have a lot of free options available to you. You can visit online brokers which offer demo and free accounts which you can use to practice your skills on, as well as learning software to help you get started.

    Some sites may require a small startup fee, which you don't have to worry about if you plan to go forward and start your very own account. You can also go for internet-based automated forex trading software. One advantage of this type of currency trading software is that it is accessible where there is an internet connection.

    That means you can still check-up on your stocks even while on vacation. Another perk is that there is no need to store important data on your pc, which can be lost in the unfortunate event of a hard disk crash. If you are hesitant about relying on your own judgment when it comes to choosing an forex trading software, you can ask for assistance from your broker or dealer. He or she may be able to recommend software which will work best with your type of investment.

    Another tip is to ask fellow brokers by posting your queries on the forums. Forums are the best places to network and get your questions answered the quickest. You might also get a few tips from fellow forex brokers on what currency trading software to avoid.
     
  4. Jacq Stone

    Jacq Stone New Member

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    A Forex is an over-the-counter market where buyers and sellers conduct foreign exchange currencies. Equipped with knowledge, strategies, discipline, patience and the right tools, you can make it to the market.


    Please feel free to come and visit our FB page for more latest news and updates that will help you guys to improve your decision making.

    http. www. facebook. com/pages/Ikofx/213186568697555



    Currency Trading
     
  5. hugo30

    hugo30 New Member

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    What do you mean by that? VPS & EA?
     
  6. kplmangal

    kplmangal New Member

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    hello friends I'm newbie here..,,
    I want to know how to trade in Forex?
    Can anyone explain me about it?????
    Thanks a lot..,,,
     
  7. Jhon Kumar

    Jhon Kumar New Member

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    I am going with jacq. Nice, short and sweet reply.
     
  8. learn2share

    learn2share New Member

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    If you are a newbie, just try demo trading with one well-known broker you see it simple. Then when you completely get familiar with trading platform, you can make deposit to get a live account and make profit. Hope it helps :)
     
  9. mak123

    mak123 New Member

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    In the forex market, you buy or sell currencies. The object of forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold. I will suggest you first start with demo account then with help of reliable broker you can start in forex trading and can gain profit
     
  10. mehulsoni

    mehulsoni New Member

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    OHH.. TOO BASIC BUT LARGEST EVER QUESTION.. :sweat: :sweat: :sweat:

    Cant' explain you completely here about what is Forex.

    Basically Forex is the market in which currencies of different countries are traded in pair of two. It is the largest trading market in the world.

    If you want to know more about forex basic there is very good stuff given on baby pips website.
     
  11. orni308

    orni308 New Member

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    Its almost same as the stock markets but here you trade currencies....and its more reliable than the stock market.
     
  12. rrayne20009

    rrayne20009 New Member

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    foreign exchange(forex) is an activity in which there is an exchange of one currency to another.
     
  13. lee.belisar

    lee.belisar New Member

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    Forex, according to GDMFX Web site, is the standard acronym of the phrase foreign exchange. It is generally used provide a detailed account of the trading of the foreign currency in the foreign exchange market by traders. I do suggest to visit this Glossary for other Forex words that maybe new traders are not familiar with.
     
  14. vic84

    vic84 New Member

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    In forex, Currencies are traded against each other...
     
  15. sarahalice

    sarahalice New Member

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    Hi,
    Forex is a commonly used abbreviation for "foreign exchange," and it is typically used to describe trading in the foreign exchange market by investors and speculators.For example, imagine a situation where the U.S. dollar is expected to weaken in value relative to the euro. A forex trader in this situation will sell dollars and buy euros. If the euro strengthens, the purchasing power to buy dollars has now increased. The trader can now buy back more dollars than they had to begin with, making a profit.It is similar to stock trading.
     
  16. vic84

    vic84 New Member

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    Forex stands for Ferign exchange, in here you trade currencies just like in stock market.
     
  17. Blossom

    Blossom New Member

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    The foreign exchange market Forex or currency market is a global decentralized market for the trading of currencies.
     
  18. sininfinity

    sininfinity Active Member

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    VPS = Virtual Private Server
    EA = Expert Advisor

    If you are new to forex then I would suggest your to go through babypips forex school.
     
  19. tiptip

    tiptip New Member

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    Forex, according to FreshForex Web site, is the standard acronym of the phrase foreign exchange. It is generally used provide a detailed account of the trading of the foreign currency in the foreign exchange market by traders. I do suggest to visit this Glossary for other Forex words that maybe new traders are not familiar with.
     
  20. Blossom

    Blossom New Member

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    Any new person, who dont have any knowledge about forex should visit baby pips web school for understand how the market works and what it actually means.
     
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