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Posts posted by gulshannegi

  1. Foreign exchange (Forex) trading, just like trading in shares, is an act of you buying foreign currency at bid price and selling it at higher price in future to make profit. Forex Market is the place where one can trade in currencies. Price of one currency is always determined in another currency because you always buy one currency using another currency i.e. you trade in 'currency pair'. The price is always given as USD/INR, GBP/USD, etc. using Standardised Currency Code.

    Foreign Exchange change all the time due to various factors, and forex traders attempt to make profit from these changes. Forex market is the largest, most liquid financial market in the world. It operates 24 hours a day and is commonly separated into four sessions: The Sydney session, the Tokyo session, the London session, and the New York session.

    How to trade?…

    • You need an account with broker to trade in forex. It could be a personal account or managed account. With a personal account, you can execute your own trades. With a managed account, your broker will execute trades for you.
    • The type of currency you are spending is the base currency.The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another.
    • There's a bid price (your broker willing to buy base currency in exchange for quote currency) and ask price (your broker will sell base currency in exchange for quote currency).
    • Many brokers don't charge any commission on Forex trading. Their profit is just the spread. Spread is the difference between bid price and ask price.
    • By using leverage you can open a deal worth up to 400 times your initial investment. For example, with a $100 investment, you can buy $40,000 worth of pounds, using 400:1 leverage.

    There are actually three ways you can trade forex: the spot market, the forwards market and the futures market. The forex trading in the spot market always has been the largest market because it trades real currency according to current market price. Unlike spot market, forwards and futures markets do not trade actual currencies. Instead they deal in contracts that represent claims to a certain currency type, a specific price per unit and a future date for settlement.

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