What is forex trading?
Forex or foreign exchange is nothing but the buying and selling of currencies online almost simultaneously.The market is so large in volume that it will take a whole one month for the new york stock exchange to match up with the volume that is traded in a day in the forex market.
In the forex market currencies are always traded in pairs and not in isolation, that is buying of one currency and the simultaneous selling of the other. The objective of currency trading is to buy the currency that appreciates or increase in value compared to the other that is sold.ie if you have bought lets say British pounds and the value of that currency increases then you must sell it back in other to lock in the profit for that day.
Is currency trading difficult or easy?
I remember the first time i learnt about forex trading and i got all excited about the possibilities of making cool money all from the comfort of my home, i quickly funded my account and started trading live,funny enough i was making profit for the few weeks that i was trading as i was abiding by the rules or the strategy that i was taught by my trainer. After some few weeks of making some substantial progress my profit got swallowed by the market.i was annoyed,only to later discovered that i have totally diverted from the strategy i have learnt. and had gone on to something else and hitherto causing my losses.To answer the question above correctly with my experience is that forex is not difficult but it requires discipline and that i can say over and over again without getting tired,discipling is the key to success in forex trading as in everything that you are going to learn or study you just have to be disciplined about your trading style or strategy.
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