Earn money by forex tradingWhat is forex ?
Forex is a money exchange system.By this system we can buy one currency and sale another currency.So we can say forex is a knowledge for business of making money through trading currencies against each other. It is not a new idea but its history is as old as the history of money.
By investing money and apply trading technique we can easily earn huge amount of money in forex field.The four major pairs we can select for successful forex trading.These are EUR/USD,USD/JPY,GBP/USD,USD/JPY.Its also called blue chips in forex market.Just you apply "buy low - sell high" gives the profit for currency trades.
But my suggestion when you starting business you only select one currency like EUR/USD.This is the most popular currency pair.
What is pair?Pair is a exchange rate for one currency to another.EUR/USD this is a euro USA dollar currency pair.If we see EUR/USD =1.3421 that means 1 EUR=1.3421 US Dollar.
If you buy EUR/USD by the rate of 1.3421 and close more then you make profit.You buy 1.3421 and close 1.3471 so we make profit 4 pips.In case of sale,selling high and close in low price.If you sale GBP against USD when each GBP is sell to $2.0235USD and close by $1.9554USD, you have made a profit.
What is pip?Fluctuation of rate is called pip. An example If you buy EUR/USD by the rate of 1.3421 and close more then you make profit. You buy 1.3421 and close 1.3471 so we make profit 4 pips.
Profit depends how many lot you buy or sale. If you by 0.01 lot for above trade your total profit is 0.04 dollar. If you apply 1 lot then you make total profit 4 dollar for above example.
Practically if you want to expert for forex trading you need to open demo account and try to learn by universal trading. Almost forex broker give this kind facility without any cost. When you grow self confident then you invest for trading. Please remember donot depends on some one signal it is best for you depends on your knowledge.
How I deposit for trading?There are many electronic money transfer system are available for forex trading.
By debit or credit card
Reliable forex broker