Forex trading explained. In this video I explain how you can compare forex trading to a small online business. Forex trading is essentially the same thing. Buying and selling to get a profit. Just as every small business operates the same way.
Forex Broker that I use (Ospreyfx)
https://bit.ly/3rR9LCB
Trade a $100,000 funded account
MyForexFunds https://tmafocus.com/3ptx0nI
or
FTMO https://tmafocus.com/3iBig1N
My recommendation on a paid indicator feature in several of my videos
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(Pip Hunter Indicator)
For USA Residents ONLY
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also
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or
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https://etoro.tw/3dYqOx2
Get a free audio book from audible
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Links to the indicators
TMA Overlay
https://www.tradingview.com/script/zX3fvduH-TMA-Overlay/
TMA Divergence indicator
https://tmafocus.com/3nfcEfd
TMA shop
https://shop.spreadshirt.com/themovingaverage/
Looking for a forex broker?
I use Osprey
https://bit.ly/3rR9LCB
For charts Use Trading View
https://bit.ly/30TobpU
Forex is short for foreign currency and exchange. Foreign exchange is the process of changing one currency into another for a variety of reasons, usually for commerce, trading, or tourism. According to a 2019 triennial report from the Bank for International Settlements (a global bank for national central banks), the daily trading volume for forex reached $6.6 trillion in April 2019
What Is the Forex Market?
The foreign exchange market is where currencies are traded. Currencies are important because they allow us to purchase goods and services locally and across borders. International currencies need to be exchanged to conduct foreign trade and business.
If you are living in the United States and want to buy cheese from France, then either you or the company from which you buy the cheese has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros.
The same goes for traveling. A French tourist in Egypt can’t pay in euros to see the pyramids because it’s not the locally accepted currency. The tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over the counter (OTC), which means that all transactions occur via computer networks among traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of Frankfurt, Hong Kong, London, New York, Paris, Singapore, Sydney, Tokyo, and Zurich—across almost every time zone. This means that when the U.S. trading day ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active anytime, with price quotes changing constantly.
Note that you’ll often see the terms FX, forex, foreign exchange market, and currency market. These terms are synonymous and all refer to the forex market.
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The information contained here and the resources available for download through this website is not intended as, and shall not be understood or construed as, financial advice. I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained on this Website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
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