A question about FOREX?
I Know NOTHING at all about Forex and would like to learn starting with the VERY basics is there a good book or website I can read up. Basically all I know about Forex is that it has to do with currency trading….
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Tagged with: book • currency trading • Forex Questions • nothing • VERY • website
Filed under: Forex Books
If you want to learn about Foreign Exchange markets, you should begin by watching television. Bloomberg, CNBC, or other financial television networks can be a good source.
Essentially, FOREX is very straightfoward. Exchange rates are just units of home currency expressed in terms of a foreign currency. The relative values of currency are set according to supplies and demands of foreign currencies. The demand for foreign currencies is largely established by the demand of a nations exports. The more a nations exports are demanded, the greater value its currency. Hence, a strong Pound, a strong Dollar, a strong Euro.
Further, a nations’ currency supply is typically set according to a nations monetary policy. A loose monetary policy, that is large amounts of currency in circulation, tend to decrease a currencies value. A tight monetary policy, that is to say smaller amounts of a currency in circulation, tend to increase a currencies value.
However, FOREX markets are highly volatile and the information I just presented to you is very basic and abstracted. Lots of other factors affect currency values. For instance, government intervention. China’s currency should be far more valuable than it is now, but Chinese policies affect its extraordinarily low value.
You now know all the basics about FOREX! Stay tuned to Bloomberg to learn more. Also, if you’re planning on going into the FOREX trading business, it’s very difficult and markets are highly volatile. Hope you have good contacts.
this is the only forex i know off & it is good
http://www.xxxx.com.au/
check out this website – then click Beginners Guide
http://hurricane-fx.com/
Forex is short for Foreign Exchange and it is considered the largest financial market in the world. Currencies are traded with each other everyday and even though its the largest financial market, it cannot be seen for it has no physical base or location. This is achieved though electronic networks of individuals, corporations and banks trading currencies for other currencies.
The Forex market is trading 24 hours everyday except the weekends. The currencies that are traded the most include the U.S Dollar, European Euro, Japanese Yen, Australian Dollar and the British Pound. In a day, currencies traded amount to billions of dollars daily.
Foreign exchange was once limited to bank employees, but ever since the introduction of the internet, anyone can trade. Trading in forex markets requires a lot of practice and learning, first starting of the fundamentals the slowly using the more complicated types of technical indicators.
Developing a plan is necessary in order to gain profits. Every trader has a unique way of dealing with the market and by practicing ( Sometimes trial and error ) you will grasp how the market flow. Later on, usage of charts and indicators may help your trading decisions in the forex market.