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What is Forex Trading?
Currency trading, at the present time foreign exchange trading is one of the most interesting topics as the Forex market is the largest in the world, with total daily trading exceeding $ 6.000 billion
At the present time, many people view electronic commerce in general and currency trading in particular, as a real source of income, especially in our Arab world, which is witnessing an unprecedented rise in unemployment rates, because currency trading is highly profitable, such as oil trade, gold trade, metal trade.
But can money market trades really close this gap and can they be considered a new source of income? This is what we will learn in detail in this article.
Forex marketForex markets can be defined as online currency trading, and they are very similar to the daily transactions that each of us perform when dealing with exchange companies, when he needs to convert from one currency to another. What differs here is that buying and selling currencies is through the Internet through brokerage firms that act as intermediaries between the trader and central banks.
As long as this is the case, why don’t we exchange currency through exchange shops then? What is the use of online currency trading?
Buying and selling currencies through the Internet has many benefits, as you can take advantage of instantaneous movements around the clock. And engage in short deals that can achieve significant profits.
You can also take advantage of the financial leverages provided by the brokerage firms, which if used correctly will greatly increase profits. Another thing is that these markets operate for 5 days a week around the clock, and liquidity is available so that currencies can be bought and sold at any time without any problems.
The basics of online currency trading
Currency trading methodThe way of trading currencies via the Internet is really different from exchanging currency through exchange shops, as trading on the Internet takes the form of speculation, and this matter is really considered problematic especially for novice traders.
Speculation means that when a trader buys or sells a certain currency, the currency purchased does not really belong to the buyer, and when selling a certain currency it does not come out of his ownership.
When starting trading, if the trader’s account was in the dollar currency, and the trader bought the euro against the dollar, the value of the account does not convert to the euro as it is in the currency exchange in practice in our daily life. Read on to find out how to determine profit and loss in the same original account currency.
How is profit and loss determined in the Forex market?In the event that matters came as expected by the trader, in this case he will win an amount of money equal to the difference between the number of points at the time of opening the deal and the time of closing it.
But if things came to the contrary contrary to what the trader expected, in this case the trader loses an amount of money equal to the difference between the number of points at the time of entering the deal and the time of leaving it.
Profit and loss is estimated in the same currency as the original account, without any change in the type of this currency, whether when buying or selling.
Currency Trading Project – Is It Profitable?A currency trading project, like any other project, is likely to profit and lose, as no project in this universe can be described as a project that does not lose, otherwise it is a form of gambling. But what makes a trader win? What causes him loss?
In buying and selling currencies online, there is a set of alphabets. And a minimum number of experiences that each trader must have in order to be able to actually start executing deals and achieve a profit rate.