How Forex Works(For The Average Joe's)

[moonchild]

So, you've been hearing about forex for a long time or maybe you have friends that are involved In it and they're making money with it, but you are absolutely a noob and don't know how it works, this article is for you, just sit and relax.

First thing first, what's forex how does the word come to be, well forex is coined from two words, Foreign Exchange, if you take the first three words from the latter and the first two from the former, it will give you forex.

This means it forex actually means exchanging foreign currencies.

So, you might ask me, how do people make money In exchanging currencies.

Well, the answer to that is simple, every single day people exchanges currencies depending on the circumstances, some do when they travel, some when they want to buy goods and some pay fees in the country's currency that they're studying in.

Traders make money from price changes of this currencies and that's how they make money.

That's forex has currency pairs, you can't trade forex without pairs, because you have to buy one and sell one.

In conclusion, I hope you understood what forex really is and you're very excited to start your journey.

 

[Asahi]

In Forex, currencies and commodities are traded through a broker. You can pick up one of the trading styles for yourself but I think you should be flexible in using different trading styles on the market according to the demand. Eurotrader provides their analysis on and off to help traders earn fair amount of trading profit.