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Forex Trading

ARx182

Member
Forex trading involves buying shares in one currency and selling it in another. For example, £1 = $1.2 (fabricated figures). The dollar or any currency for that concern is always rising or dropping in value, so the next day the dollar may have increased in value, so £1 = $1.5. Forex traders have to predict which currency will increase, invest and then reap the rewards. Of course, it's easier said than done, or we would all be rich. To predict increases/decreases, you have to study the market and the market will not always tell you the truth, so if you invest big, not only can you gain a lot of money, you can also lose a lot of money, which is why forex trading is such a big risk.

Now that you know what forex trading is, if you didn't already, does this interest you? If you already knew what it was, have you tried forex trading or plan on trying forex trading one day?

I've considered it, but it is a risk and I don't have the money to risk at the moment.
 

_B_

Member
I have considered this and have been practising using Trading 212's simulator. You can read a bit more about that here.
I am interested in it but is difficult to predict in some cases due to the volatility, the external factors and also the risk behind investing capital.
This is why I'm using the practice simulator so I can learn and understand how it all works.
 

Jeremy

Member
Forex trading is the largest financial market in the world. But if you want to invest in forex, I will advise you to run a demo account before running a live account. It is easy to blow an account in forex trading.
 

Alexandoy

Member
I know the forex trader in the forex department of the bank that I worked for. You are right with the explanation that you will be buying the currency that is low in value to hope that it will increase in value afterwards. It is just like stocks trading that you buy now and let it grow then tomorrow you sell. But in forex you have to be well-versed with currencies otherwise you will be stuck in dollars and Euros.
 

luri

Member
I have bought and sold stocks, but never tried my hands on forex trading. I think it is too risky. First of you need to be knowledgeable about business, finance, trade, and investment as these factors determine whether a currency will go up or down. Secondly, you need a lot of money to get started.
 
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