Have you ever wondered what forex is? Forex stands for Foreign Exchange, and it refers to the market where one currency is traded against another. It’s a huge marketplace with trillions of dollars exchanged each day!
The first thing people often think when they hear “forex” is that it only includes trading between countries. That’s not true at all! In forex, two currencies are traded against each other.
For example, EUR/USD means that you’re buying euros using US Dollars. The “EUR” is the name for a currency, and the “USD” is the abbreviation for United States Dollar.
How Does Forex Market Work?
The forex market is a decentralized network. There’s no central location where trades happen and orders are routed through, unlike the stock market. Instead, all orders flow into a “global pool” of bids and ask (asks = offers to buy; bids = requests to sell).
Each broker routes an order to another trader who can either fulfill or deny it based on what they’re currently trading for from this global pool. This creates competition between brokers because traders will run away from them, searching for someone else with better prices if one gets too many bad fills!
The best part about the forex markets? You don’t need much money upfront like you do when buying stocks.
The Forex market is a zero-sum game, meaning one trader’s winnings equal the other traders’ losses. However, since there are more transactions than winners and losers (each transaction has two sides, i.e., both buyer and seller), brokers make money on every trade that happens in their direction by charging commission fees to each party involved!
As you can see, forex trading isn’t always about making huge profits – it’s possible for all parties involved to break even after commissions have been taken into account.
It’s not uncommon for people who’ve traded long enough or with large positions to end up owing money at the end of the day because they paid too much in commissions over time!
That said, when you’re trading with a broker who has low fees and great prices (i.e., spreads), then you can make good money over time!
Trade Forex Successfully
When it comes to forex, there’s an overload of information about charting patterns and indicators that predict price movement – but the truth is that anyone telling you they have a magic method for making money in this market is lying.
The best way to trade forex successfully isn’t by focusing on what will happen next week or even tomorrow – it’s all about being patient enough to wait until your pricing levels line up perfectly before committing any capital, so you don’t end up paying too much when rates move against you!
Our guest speaker has experienced forex trader David Evans. He has been trading since 2007, with his main focus on the currency markets (the most liquid financial instrument in existence).
Dave provides training through seminars and coaching sessions – both live and online.
We will be discussing the basics of forex, how to get started, and Dave will share his personal experiences.
So far, we’ve had a fantastic response with a lot of people signing up. If you’d like to attend but haven’t got around to reserving your seat – do it now! We’re running out of space and would hate for you do not get the chance because another person has taken your place!
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This one-day conference will cover all areas of property finance, including residential, buy-to-let, and commercial mortgages, structured products (bespoke finance), arrears/workouts, funding options (entirely or partially self-financed), and some international case studies. Mark your calendar for October 25th at 18:30, and please bring a friend! We will have snacks and refreshments.