Forex trading.
Hello everyone, how are you, on this occasion I will explain
about this forex trading point of view. So for those of you who are not
familiar with forex trading, maybe I can discuss it here, and hopefully what I
have discussed can provide insight for all of you.
Forex trading is an activity that occurs in the foreign
exchange market or financial market, where the process of buying and selling
foreign currencies is carried out by developed countries. Here buying and
selling with a margin system, so you only need to deposit funds to a broker who
is really good then you can immediately invest.
In short, forex is a foreign exchange, or foreign currency
exchange. What is meant here are pairs of foreign currencies which are then
traded for certain purposes.
For example, GBPUSD, this means the GBP currency pair
"ponsterling" and USD "dollar", from that currency we can
directly sell and buy in it. For example, when we sell GBP, at the same time we
sell GBP, we buy USD there, and vice versa when we buy GBP, we actually sell
USD by buying GBP at the same time. However, in trading applications, it is only
ranked as buy and sell.
Many world currencies are traded such as USDRUB, USDJPY,
NZDUSD, and others. For now, forex trading can be accessed from anywhere, so
execution is instant, as long as you are connected to the internet, you can
trade there. So it's just a matter of choosing a broker that does provide high
trust, because you really really put valuable money to be developed.
Types of currency traded:
In the world of forex trading there are 3 types of currencies that are commonly or generally traded, here I explain some of them:
- Major Pair, in this case the currency pair that is favored or preferred by many forex traders, due to price movements that have a high level of fluctuation every day, so many traders trade there, here for the special feature of a major pair is, a paired currency pair with USD, for example GBPUSD, EURUSD, NZDUSD, AUDUSD and others.
- Minor Pair, a minor currency pair or commonly called a cross pair, this is the second currency pair that is often traded, but is still less popular than the major or core currencies, this is because the spread of cross pairs is very high and price movements can soaring so much that it can be said that it is also very risky for novice traders, the main thing that can be seen or the main feature is, currency pairs that are not with USD, for example, EURGBP, EURNZD, GBPNZD, GBPJPY and others.
- Excotic Pair, currency pairs of developing countries that have high economic levels, here are paired with the main currency, namely USD or EUR, here for example USDMXN, USD, USDZAR, EURTRY, USDTRY and others.
Maybe it's a brief introduction to the world of forex trading, bro... for the next it will be continued with a discussion that is no less interesting, thank you for reading this article...
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