FOREX EDUCATION

2023-03-14 10:42:18 Categories of currency pairs:

There are three categories of currency pairs:

The “majors“
The “crosses“
The “exotics“

Major currency pairs always include the U.S. dollar.

Cross-currency pairs do NOT include the U.S. dollar. Crosses that involve any of the major currencies are also known as ” minors”.

Exotic currency pairs consist of one major currency and one currency from an emerging market (EM).

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2023-03-14 10:20:35 Buying And Selling Currency Pairs

What is forex trading?

Forex trading is the simultaneous buying of one currency and selling of another.

Currencies are traded through a “forex broker” or “CFD provider” and are traded in pairs.

Currencies are quoted in relation to another currency.

For example, the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).


When you trade in the forex market, you buy or sell in currency pairs.

An exchange rate is the relative price of two currencies from two different countries.

Exchange rates fluctuate based on which currency is stronger at the moment.

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2023-03-09 15:11:24 Currency symbols

Currencies always have three letters, the first two letters identify the name of the country and the third letter identifies the name of that country’s currency, usually the first letter of the currency’s name.

In the case above :

NZ stands for New Zealand, while D stands for dollar.

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2023-03-09 14:57:02 Major Currencies

There are potentially lots of currencies you can trade, as a new forex trader but you will probably start trading with the “major currencies“. as shown on the attached chart.

We call them “major currencies” because they’re the most heavily traded currencies and represent some of the world’s largest economies.

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2023-03-09 14:43:51 What Is Traded In Forex?

The simple answer is MONEY. Specifically, currencies.

Think of buying a currency as buying a share in a particular country, or buying shares in a company.

In forex trading, when you buy, say, the Japanese yen, you are basically buying a “share” in the Japanese economy.

You are betting that the Japanese economy is doing well, and will even get better as time goes.

Once you sell those “shares” back to the market, hopefully, you will end up with a profit.

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2023-03-09 14:34:06 The FX market

This is a global decentralized market where the world’s currencies change hands. Exchange rates change by the second so the market is constantly in flux.

The forex market is open 24 hours a day and 5 days a week, only closing down during the weekend.

So unlike the stock or bond markets, the forex market does NOT close at the end of each business day.

Instead, trading just shifts to different financial centers around the world.

The day starts when traders wake up in Auckland/Wellington, then moves to Sydney, Singapore, Hong Kong, Tokyo, Frankfurt, London, and finally, New York, before trading starts all over again in New Zealand!

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2023-03-09 13:53:28 What is Forex?

If you've ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

When you do this, you've essentially participated in the forex market! You've exchanged one currency for another

So in simpler terms,
The foreign exchange (also known as forex or FX) market is a global marketplace for exchanging national currencies

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2023-03-09 13:12:10 Here i will help you acquire the skills, knowledge, and
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