Kaim LV.2 Lurker
Oct 1, 2021, 03:42 AM 17 read

How good are you as a trader?

Question & Answers

Forex trading is the practice of buying and selling currencies for the purposes of speculation, hedging or any other needs.   Unlike stocks and commodities, Forex trading is always relative. When you buy a currency, you sell another one relative to it. You can't just buy dollars. You have to buy them for another currency (unless you buy $10 for $10).   The agreement is that first we write the base currency (one unit of currency), followed by the price currency (the price of the base currency), therefore, if EURUSD is trading at 1.2000 today, it means that 1 euro will bring you 1.20 dollars. In other words, $1.20 is worth 1 euro. Naturally, this means that the euro is stronger than the US dollar, because you need more than $1 to get 1 euro.

Comment 1

  • Maniyt LV.1 Mootie Oct 2, 2021, 12:20 AM

    If your main goal is to make money fast, Forex trading is a challenging task. However, if you approach trading with this mindset, you will set yourself up for failure even before you start trading. Some still don 't know what forex is and how it does work . On average, about $3 trillion is traded on the forex market per day.

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