Forex Basics - What is Forex?

[Syrine22]

Yeah that's just the basic truth inhere.The emotions such and fear and greed cannot be controlled strongly at the demo account but sincerely it would be controlled deeply and strongly at the real account but yet we can be doing a little to control it at the demo section.

 

[sindarin]

@sandarin:what is the difference between killing your fear and controlling it???The ability to control your fear is a step by step way of you totally killing it.so you better dont mis-quote me with the way you are diffrentiating the two.

too much ? you put there dude, controlling means that you can control your fear know where you should fear where not to fear, but killing it you will never have any fear and then you can overconfident in trading and the result is bad, you loss your bucks. and if you have trade in real account then you will know about unless you never trade there. also in demo account we cannot control our emotion why? money is virtual, if you loss the money that is not the problem but if in real account? you need to think it twice for every trade you do

 

[Syrine22]

I think one would be over-confident only if he or she wishes to.Confidence erupts when fear is dead and when over-confidence sets in then the trader is taking a huge risk.Fear shouldn't be in anyone so that he or she can be confident when trading.

 

[sindarin]

Its really important to manage your emotions like fear because they can be your worst enemy when trading and result in losses thereof. As much as trading in the demo account is vital to a trader, emotions are felt less here and its only when you go into the real account that you would really encounter them.

but some people think to kill it, is the better idea and not to manage/control it, because they believe it will give them what they called as confident , i really wondering if they ever practice it in their account, even demo account have less emotion for users because of demo account virtual money but it still use as the place for newbie to learing for the first time

 

[mdenamul]

Their really a wonderful content. We are starting out find out somewhat with regards to currency trading. My spouse and i usually recognize the idea. It does not take technique of dealing values to make earnings. Their really a neat approach to start off is actually a fantastic exchanging investigation, anyone can anticipate the longer term involving the foreign currency market along with and thus create earnings by it.

 

[Syrine22]

The trading investigation you still made a talk of is still part of forex.if we dont get to know all this then we wouldn't have gotten to learn forex.Taking the necessary step that would be making forex learning comfortable would help us.

 

[Tirus]

but some people think to kill it, is the better idea and not to manage/control it, because they believe it will give them what they called as confident , i really wondering if they ever practice it in their account, even demo account have less emotion for users because of demo account virtual money but it still use as the place for newbie to learing for the first time

You cannot kill emotions because then you will not be human. Humans experience fear and greed and that is normal and expected. The best that one can do is control their emotions so that they dont get to get in the way of their trading but its something that you will have to continuously work on.

 

[Syrine22]

The gradual reduction of something is what i would be referring as killing it.guys it is not a must we get to kill something in just a day.i just hope we would get to always know that doing forex has to be with total confidence.

 

[junaid1001]

FOREX stands for the very popular Foreign Exchange Market. Sometimes, though, people associate it or equate it to mean also currencies.Basically, Forex is where people trade. The objects of the trading are the different foreign currencies. People buy and sell the currencies and earn profit.

 

[Syrine22]

We shouldn't be narrowing forex to currencies but it also the exchange of goods and services but i think inhere it is about the exchange of currencies which we either stand a chance of losing or gaining more.

 

[kickboxer]

The simple sense of Forex (Foreign Exchange) is simultaneous purchase and sale of the currency or the exchange of one country"s currency for the one of another country . The world currencies do not have a fixed exchange rate and are always fluctuating since each are traded in the currency pairs like Euro/Dollar , Dollar/Yen and others . 85% of daily trades are taken by major currencies trading.

 

[Syrine22]

Yeah that's just the defination of forex in a written way.Forex to me is the ability to learn well to inturn be able to trade well.when i say learning i dont mean learning just be theoritical aspect but i mean practicalizing it likewise.

 

[riddick09]

It's like learning input to make an output. There's always chance that we will going to have not learn everything about Forex but the basics will help to learn the simple and to get the idea what Forex trading consists and how we will going to trade. What we'e learned will be the input and what we will apply or to trade will be our output.

 

[Tirus]

Before you can actually apply the information into your trades you have to start with these basics that offer a better understanding of what forex is all about. It is only after you have gone through the basics will you have the understanding so that you can follow through from the foundation to that application.

 

[Syrine22]

I think we knowing the word meaning of forex isn't what forex is about.forex is about we knowing the indepth meaning and that is we digging deep to know what it entails.if our foundational knowlegde is not on a solid ground,then there might just be a problem along the way.

 

[orosun]

forex

it is nice knowing atleast the basic for forex trade,i now know its simply the exchange of currencies for currencies,so what are the requirements to kick start the trading?

 

[Syrine22]

The requirements ain't that much.The first is for you to get the materials to read that's your theoretical learning then proceed to the demo account for your practical learning when you have gained lots of skills and stretagy then you could try out the real account.

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The requirements ain't that much.The first is for you to get the materials to read that's your theoretical learning then proceed to the demo account for your practical learning when you have gained lots of skills and stretagy then you could try out the real account.

 

[st jacob]

Thanks for sharing such a beautiful post. You explain forex in such a good manner and in detail. I learnt some new things from this post..

 

[Syrine22]

Yeah that's good.it would really be helping you in your forex trading.All that is expected of you is to put it into practise and i assure you that you wouldn't ever be regreting ever doing forex now or even in the future.

 

[Tirus]

The requirements ain't that much.The first is for you to get the materials to read that's your theoretical learning then proceed to the demo account for your practical learning when you have gained lots of skills and stretagy then you could try out the real account.

Its very imperative that you are able to make the best of your theoretical learning because this is where the basics of forex trading are. One should not even think of going forward to trading in the real or even demo account for that matter without going through the basics first because they need to build an understanding here.