What is Forex? (Elements of Forex Trade) 2/2

How Do You Read A Quote? What Is A Lot? What Is A Pip? What Is Leverage/Margin? Why Trade Forex? Everything in this video ! Learning to trade in a new market is like learning to speak a new language. It's easier when you have a good vocabulary and understand some basic ideas and concepts. So let's start with the basics of forex trading. OPPORTUNITIES IN FOREX: WHAT'S YOUR OPINION? Just like stocks, you can trade currency based on what you think its value is (or where it's headed). But the big difference with forex is that you can trade up or down just as easily. If you think a currency will increase in value, you can buy it. If you think it will decrease, you can sell it. With a market this large, finding a buyer when you're selling and a seller when you're buying is much easier than in other markets, subject to available liquidity. Maybe you hear on the news that China is devaluing its currency to draw more foreign business into its country. If you think that trend will continue, you could make a forex trade by selling the Chinese currency against another currency, say, the US dollar. The more the Chinese currency devalues against the US dollar, the higher your profits. If the Chinese currency increases in value while you have your sell position open, then your losses increase and you'd want to get out of the trade.

Comments

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