Learn Forex In 10 Steps
In this article, we will try to explain main concepts and principles of forex market mechanism understandably with simple questions and answers.
- What is forex?
Forex word is composed of foreign and exchange combination. Foreign exchange is condensed as forex.
- What is made in forex market?
There is nothing other than buying-selling transactions in forex market. In short, in this market one currency is bought while at the same time the other is sold with this currency.
- What are advantages of forex compared to others?
There are countless advantages of forex market. First of all, this market is open for 5 days for 24-hours. In this way, always in 5 days, there is possibility to take an action whatever wanted.
- With forex, which operation is made?
It is money (currency) which is made in forex market. So main unit of trade in forex is money.
- When is forex market open or closed?
Forex market is closed on weekends. On Friday, it is closed with closing of New York Stock Market while opened by opening of Tokyo Stock Market on Sunday.
- Which earning tool is offered in forex market?
Forex market provides various earning tools. This varies from one mediator agency to other.
- Is it possible to manipulate forex market?
Main advantage of forex market is liquidity. Thus there is no possibility to manipulate this market because daily operation volume is so huge to be manipulated.
- How should currency choice be made in forex market?
In all markets, supply and demand is the main factor. So is in forex market. The more demanded currency the higher you will make money.
- What is forex leverage?
It gives you possibility to multiply your profit with multiplier factor, which means it can bring more loss.
- Should be entered in this market?
After learning the market well in detail, then anyone entering this market can make remarkable profit.