What is forex?
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Summary idea of what is Forex Market:
Forex = FX = Exchange Market = Currency Exchange
It is the largest and most active market in the world. Offers:
- Large liquidity;
- Open Market for 24 hours a day, 5 days a week;
- Low costs
- Large Leverage
Forex market can be easy to understand but to succeed you need to:
- Learn the basics on Risk Management;
- Have some trading plans (be disciplined)
- Weigh the risk / gain in every trade
- Learn to control your emotions (uncertainty before entering a position / know the best time to close the position);
- Perform technical analysis (studying the trend in the past can help you know the movement in the future)
- Use also fundamental analysis (economic indicators like interest rates, inflation, unemployment etc…)