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  1. #1
    Join Date
    Nov 2011
    Posts
    445

    Default What is forex trading?

    I have heard lots about forex in the past, and trading it. But, really have no idea what it is and what it means. Can anyone explain what exactly forex trading is and what it entails?

  2. #2
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,776

    Default

    You trade money.....not really anything more to it than that.....buy NZ$ @ US$ 0.655 and sell @ 0.755......rinse and repeat for untold riches

    Buy low sell high.

    Cheers
    Spaceman
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  3. #3
    Join Date
    Aug 2003
    Posts
    7,608

    Default

    There's lots of info especially 101 for beginners here

    cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  4. #4

    Default

    Currency trading in today's volatile market is risky, leverage trading is what most people use. i.e. put in $5k and trade a position of $100k. Spaceman lists the ideal long-term scenario, but identifying shorter term daily or weekly opportunities is not as easy as it sounds. If it was THAT easy everybody would be doing it! Before you start I would be an advocate of talking to an FX professional who can put your risks in plain English AND suggests mechanisms and strategies that help minimise your down side risk.

  5. #5
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,776

    Default

    ^ LOLZ....I never said it was easy......the basic concept is simple, buy at xxxx sell at yyyy if yyyy > xxxx you win if yyyy < xxxx you lose ....simple.

    It's not easy to make consistent profits and become rich....but John Key did so how hard can it be really??????

    Nothing long term about my scenario either (I never mentioned any time frame) if you can buy @ 0.655 and sell 10 minutes later @ 0.755 then sweet as, I wouldn't call that long term.......if it takes you 10 years then it's not really a win now is it.

    Can you point to a time when the forex market wasn't volatile?????....or risky?????.....a volatile market with lots of ups and downs is just what you want as a trader. Providing you can pick those ups and downs of course, if the market is only going one way it's much harder to make money and "beat the market"

    Cheers
    Spaceman
    Last edited by spaceman; 04-05-2012 at 06:11 PM.
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  6. #6
    Join Date
    Jun 2011
    Posts
    158

    Default

    I herd them advertising on the radio the other day explain they had the lowest margins in the industry 0.7%. So that means you would need to have a positive currency move of 1.4% before you break even.
    The only people who make money in FOREX trading are the lucky and the brokers who do the trading.

  7. #7
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,581

    Default

    Have a look at this link

    http://www.theforextradingcoach.com/

    I see Andrew every fortnight at a Cambridge business event. I think he is a little different than any other Forex trainer, as his home address is on his website.

    Ross
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.

  8. #8
    Join Date
    Nov 2011
    Posts
    445

    Default

    Wow! Thank you all for the great responses and the links you have posted. I’m not sure if Forex posting is for me or not.

  9. #9
    Join Date
    Mar 2012
    Location
    London
    Posts
    70

    Default

    Forex Trading involves transactions in which one party purchases a quantity of one currency by paying in a quantity of another currency. The Forex market is a global decentralized financial market for the exchange of currencies. Around the world various financial centers act as hubs for trading between a wide range of different types of buyers and sellers 24 hours a day, except weekends. It is the foreign exchange market that determines the value of one country’s currency relative to another.The primary reason the Forex market exists is to facilitate international trade and investment by giving businesses the ability to convert one currency into another.

  10. #10
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,769

    Default

    If you are going to cut and paste you need to add a link to the original source others it plagerism... http://www.learntotradethemarket.com...-forex-trading

    Maybe try being a little creative if you want to plug your signature?


 

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