Forex education
Forex education is crucial for beginners.
The New School of Pipsology is designed to help you acquire the skills, knowledge, and special abilities to become a successful trader in the foreign exchange market.
Read more: https://www.babypips.com/school/#ixzz1wfG4mVFA
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 (if you're a dude) or purse (if you're a lady) or man purse (if you're a metrosexual) into the currency of the country you are visiting.
You go up to the counter and notice a screen displaying different exchange rates for different currencies. You find "Japanese yen" and think to yourself, "WOW! My one dollar is worth 100 yen?! And I have ten dollars! I'm going to be rich!!!" (This excitement is quickly killed when you stop by a shop in the airport afterwards to buy a can of soda and, all of a sudden, half your money is gone.)
What is Traded?
The simple answer is MONEY.
Because you're not buying anything physical, this kind of trading can be confusing.
Think of buying a currency as buying a share in a particular country, kinda like buying stocks of a company. The price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.
Read more: https://www.babypips.com/school/what-is-traded.html#ixzz1wfGvr8on
Currencies Are Traded in Pairs
Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer, and are traded in pairs; 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.
Read more: https://www.babypips.com/school/currencies-are-traded-in-pairs.html#ixzz1wfHI7Oiv
Market Size and Liquidity
Unlike other financial markets like the New York Stock Exchange, the forex spot market has neither a physical location nor a central exchange.
Read more: https://www.babypips.com/school/market-size-and-liquidity.html#ixzz1wfHWHNms
Different Ways to Trade Forex
Because forex is so awesome, traders came up with a number of different ways to invest or speculate in currencies. Among these, the most popular ones are forex spot, futures, options, and exchange-traded funds (or ETFs).
Read more: https://www.babypips.com/school/different-ways-to-trade-forex.html#ixzz1wfILurAh