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What is Forex trading/Fx trading/Currency trading?
Forex trading is also called currency trading, Fx trading or foreign exchange trading.
Learn how to trade in a simple way!!
Fx trading involves in a simple language buying or selling a currency pair by guessing. Whether the value of currency is going up than buy it and if going down sell it,if the indication goes wrong than you will loose as much negative the price goes.
The Profit or loss of the order depends on pips that is if the value of Euro-USD's order is let say 1.000 if the leverage of every 0.001 fraction is 0.01 USD than the fraction is called pip and the ammount it gives is called pip value. Say if you have buy order of Euro USD at position 1000 and after 15 minutes it reach 1100 than the pips you get is 100 and by multiplying it by pip value of 0.01USD it makes 100×0.1=1 USD this is how it works.
In the second amazing case say if you hadplaced instead 1000 position as sell order and price reached 900 usd than. Same number of pips multiplied by pip value 100×0.01=1 USD.
Forex trading itself is the largest financial market body in this planet.
Worldwide worth of Forex Market is 2409 Trillion US Dollar according to bank of international settlements on the 2021 year of late covid 19 socio-economic crisis era.
Genius notice:-
BIS report says that almost 2409 trillion US Dollars it means approximately 178613 trillion Indian Rupees worth of market value Forex trading takes.
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Amount of networth of Forex Trading in Indian Rupees.More on liquidity facts of Forex Market:- |
According to the information there is 2 trillion US Dollar worth of Forex trading daily.
It is a 24/5 open market that is from Sunday 10 PM to Friday 10 PM (UTC). You can do short term trade like swing trade and long term trades like hourly long trade etc.
He eates a burger who gets a good order in this market. Forex is good opportunity to make money-cash. Filling your Financial-economic vaccum.
Forex trading is a game of pips. For each pips you earn or loose your money, you can guess where scenario of trading market is directed.
Market Influencers a tip to see Forex news:-
There are many regions that influence the Foreign exchange Market of any currency that makes it stronger and weaker against its competative currency like Demand-Supply opposition, Export-Import, Bank news, Unemployment rate, Sales rate etc. Here are some systematic influencers:-
Banks that influence the Forex Market:-
• Federal Reserve System (USD)
• European Central Bank (EURO)
• Bank of England (GBP)
• Bank of Japan (JPY)
• Reserve Bank of Australia (AUD)
• Bank of Canada (CAD)
• Reserve Bank of New Zealand (NZD)
Any news, speech of Governor can influence the currency rates or exchange rate of a currency. Some times good or bad news leads to down of almost 100 pips causing huge profit and loss in Market. A professional trader won't led those opportunities go.
Unemployment Rate:-
Normally a negative news create a bearish approach is indicating sell while positive news create an upward thrust in the forex market.
17 july 2021 negative reports on unemployment claims of about 412 thousands while saw bearish movement in chart, caused by becoming higher than 375 thousand in the june 2021.
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| Unemployment claims in US caused Bearish movement in fx market July 2021 |
This are the factors by which forex market has been influenced too much by the economic factors.
Retail sales:-
The loss happens when you don't earn money by selling for a retailer so as the bricks of retailing is sunk.
So, the demand falls, Economy of country goes down. National and International demand of currency falls which in turn creates low Foreign exchange rates a regressive circumstance.
On the other side, if retail sale increases the, Economy of country rise up. National and international demand of currency increase creates high foreign exchange rates a progressive condition.
Governor Speeches
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