rockstar Posted January 19, 2012 Share Posted January 19, 2012 What Is Forex? Forex is the knowledge and business of making money through trading foreign currencies. Forex is not a new business and its history is as old as the history of money. What is forex is a question that people ask a lot these days. There are people who have been making money through Forex from many years ago. Fortunately, with the help of computer and internet, Forex trading has become much easier. You can sit at your personal computer and trade from home without having to make any phone call or referring to any bank. How is it possible? There are brokerage companies that enable you to buy and sell different currencies through the Internet and some simple softwares. For any trade that you make, you pay a small commission to the brokerage company that you are trading through it. You need to find a good, reliable and well-known brokerage company and sign up for an account with it. Then you have to fund your account. You use the money you have in your account to trade. Any profit that you make, will be added to your account and visa versa. Then you can withdraw the money you have made. What currencies can you trade? In Forex, you deal with currency pairs. There are four main currency pairs: British Pound and USD (GBP/USD), Euro and USD (EUR/USD), USD and Japanese Yen (USD/JPY), USD and Swiss Frank (USD/CHF). In each currency pair, the first currency works as commodity and the second one works as money. For example when you choose GBP/USD to trade, if you buy, you buy British Pound against USD and if you sell, you sell British Pound against USD. It doesn’t matter what currency you have in your account. The trading software takes care of the exchanges and transactions automatically. Quote Link to comment Share on other sites More sharing options...
ermaniso2011 Posted January 21, 2012 Share Posted January 21, 2012 my first knowledge about forex was so simple l didnt know anything about forex l just registered to one of the broker and they have called me right after.and explained to me how forex can change my life,then l made a depsoit but l still didnt know even how to make order for buy and sell :)now 3 years passed.l can say still have so many things to learn.but l will never give away,it is my goal. Quote Link to comment Share on other sites More sharing options...
rexway Posted February 3, 2012 Share Posted February 3, 2012 Yes forex trading was realy tough for me to understand,at first but with time a later build up and catch up with a decent plan. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 4, 2012 Share Posted February 4, 2012 I like reading the news so this is where I got my first knowledge about Forex. But this knowledge was very basic and I did not really take serious notice about Forex until I started posting. Quote Link to comment Share on other sites More sharing options...
valexer Posted February 8, 2012 Share Posted February 8, 2012 I first knew forex and the ways of earning money from when i registered on a ptp forum. I have read that more and more people are getting profit from it i started learning it. I joined several forex based forum and start conversations with other members and i learned forex as days pass by. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 9, 2012 Share Posted February 9, 2012 I saw and read many things about Forex when I started posting but it will not really sink in you, what you have read. You still need to find learning materials in the web and learn from them the basics. And in these things, I was able to learn a lot about Forex when I read the learning materials in babypips. Quote Link to comment Share on other sites More sharing options...
flybiz08 Posted March 29, 2012 Share Posted March 29, 2012 I'm in line with you on this. Theory has to be made practical when a trader is trading forex. It is better said than done and also it is important to know that not all that is said articles and books about forex are easy to carry out. A new trader may have to find a way around them by spending quality time on the demo accounts. Quote Link to comment Share on other sites More sharing options...
famouspublisher Posted June 3, 2012 Share Posted June 3, 2012 <p> </p> <div>With Currency dealing it is possible to generate income dealing just one forex, the EUR/USD, as it is the forex that goes up and down the most because it is the most well-known couple.</div> <div> </div> <div>Trading just this one forex is a sensible Currency dealing shift because the investor understands how to focus himself in studying technicals about that one forex and also studying and decoding forex information for the EUR and the USD.</div> Quote Link to comment Share on other sites More sharing options...
Tariq777 Posted June 12, 2012 Share Posted June 12, 2012 Well we can just explain it in one line "Currencies" Quote Link to comment Share on other sites More sharing options...
rizal83 Posted October 16, 2012 Share Posted October 16, 2012 My first knowledge of the forex trading is the buying and selling of currency pairs then we will benefit from trade that we did and it seemed so easy at first but after I did a trade using real accounts for the first time I realized that forex is not as easy as I imagined that I had a lot to lose and finally I try to practice it first using a demo account to obtain a good trade knowledge Quote Link to comment Share on other sites More sharing options...
ATSATS Posted October 18, 2012 Share Posted October 18, 2012 my first knowledge about forex is so helpful form mine. i am so excited about my forex trading and in my first trading i profited a good amount. but after a moment i take high risk and that loose me must. i take buy without taking take profit and stop loss. this is the main reason of loosing. my maximum capital was gone for market downing time to time. then i decided that i will always take take profit and stop loss. because it will help me must. so everyone should take take profit and stop loss. Quote Link to comment Share on other sites More sharing options...
arsii619 Posted October 22, 2012 Share Posted October 22, 2012 I first realized currency trading and the ways of generating revenue from when i authorized on a ptp community. I have study that more and more people are getting benefit from it i started learning it. I signed up with several currency trading based community and start interactions with other associates and i discovered currency trading as days complete by. Quote Link to comment Share on other sites More sharing options...
rexway Posted November 10, 2012 Share Posted November 10, 2012 Some of my first knowledge in forex trading is simple and they like telling me that i should not overtrde as said by my mentor I also learn how to follow the trend in the market direction and make the good side out of the market as a whole which later placed me on profit Quote Link to comment Share on other sites More sharing options...
luke1 Posted November 16, 2012 Share Posted November 16, 2012 Well, this is only the very basic knowledge in the Forex trading. Actually we can trade not only the currency in the forex trading here. We can also trade so many things on the Forex business here. This is the real thing here, like the commodities, from oil, gold, silver and other things Quote Link to comment Share on other sites More sharing options...
chintu Posted November 18, 2012 Share Posted November 18, 2012 Every one should know the basics of forex to start a forex trading and good to see that you have mentioned a good definitions about the basic concepts of the forex . and there are lot of basic concepts of the forex and all the newbie traders should know that basic concepts to trade efficiently with out loosing money . Quote Link to comment Share on other sites More sharing options...
tirus Posted November 20, 2012 Share Posted November 20, 2012 Its always advisable for anyone who is interested in forex trading to go through the basics first because then you stand a better chance of being successful with your trading than someone who is not knowledgeable. How else will you know and understand the terminilogy of pips, base currencies or trading strategies for example if you dont have the basics? Quote Link to comment Share on other sites More sharing options...
rexway Posted November 21, 2012 Share Posted November 21, 2012 Yes terminology is sme of the first step we need to understand because if you dont know the terminology tell me how will you be able to understand what it takes for you to trade there is no way which this can be accomplishe because you wont even be able to know how and what the chart is all about. Quote Link to comment Share on other sites More sharing options...
tirus Posted November 30, 2012 Share Posted November 30, 2012 That is how you will be able to know what forex is and what it actually entails before you plunge into it. I only started getting interested in forex a couple of months ago after seeing the banners and discussions in PTP forums so this is what really sparked my interest. I had known about currency markets before but did not consider it my forte. Quote Link to comment Share on other sites More sharing options...
rexway Posted December 1, 2012 Share Posted December 1, 2012 Yea not really that its were and how you get to know how to trade and what everything is all about for sure so forex trading is not that easy to trade but rather when you learn the terminology along with the neccesary skills needed then you can start making more success than you even imagine. Quote Link to comment Share on other sites More sharing options...
tirus Posted December 1, 2012 Share Posted December 1, 2012 Of course it doesnt really matter how you got introduced to the forex trading business but what is important is whether you can be able to use the knowledge that you have gained over the learning experience to make profitable trades. Forex is all about making profits from your trades and this is what counts eventually. Quote Link to comment Share on other sites More sharing options...
rexway Posted December 3, 2012 Share Posted December 3, 2012 That is absolutely true for sure the basic things here is that whether your rading plans and strategy will be able to bring in good returns I beleive that this is the only and good preferable step to take if you are a good trader then be sure to follow your trading plan for success, Quote Link to comment Share on other sites More sharing options...
luke1 Posted January 24, 2013 Share Posted January 24, 2013 That is absolutely true for sure the basic things here is that whether your rading plans and strategy will be able to bring in good returns I beleive that this is the only and good preferable step to take if you are a good trader then be sure to follow your trading plan for success, Every investors here only want to get the good return in Forex trading here, but we do not know or sure, behind this one, the risk is also the same high here. We can not think about only profit, profit and profit here. This is more about greediness Quote Link to comment Share on other sites More sharing options...
gaban Posted January 26, 2013 Share Posted January 26, 2013 my first knowledge about forex was so simple l didnt know anything about forex l just registered to one of the broker and they have called me right after.and explained to me how forex can change my life,then l made a depsoit but l still didnt know even how to make order for buy and sell :)now 3 years passed.l can say still have so many things to learn.but l will never give away,it is my goal. Me too.. I also didn't know anything about forex. And my friend told me about forex and he suggest me to use broker which i use now, because he can get free capital to start trading with real account. And i tried it. For first time, i can't make profit. But now, i can make profit, although sometimes i also get loss. But it's not a problem. This is a business, there's profit and there's loss too. Quote Link to comment Share on other sites More sharing options...
Achiever2015 Posted January 26, 2013 Share Posted January 26, 2013 My first knowledge about forex dates back to my first year in college. I kept hearing seminars on forex on radio stations and adverts on forex seminars. These prompted to ask questions, attended several seminars and also subscribed to investopedia newsletter, and these have really helped. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted January 26, 2013 Share Posted January 26, 2013 My first knowledge of forex was that forex involves alot of risk meaning the individual in question that wants to join in the trading must endeavour to go through series of learning and that is what i am doing presently and i am sure i would be succeeding in it. Quote Link to comment Share on other sites More sharing options...
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