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Common Forex Questions Answered by a Forex Trader

Forex Q&A

"You have likely heard of Forex and Forex trading, but what is it, and why is it important?

Learn the answers to your Forex questions below..."

Question: What is Forex?

Answer: Forex is the abbreviation of foreign exchange - the market where global currencies are bought and sold.

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Forex can sometimes be called the Foreign Exchange Market, Foreign Exchange, the Currency Market, or FX.

 

Currencies are constantly changing prices. The Forex market provides real-time prices of currencies.

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Unlike other financial markets, the Forex market is open 24 hours a day and has no central exchange. This means Forex is traded around the clock and globally, 24 hours a day!

Question: What is Forex Trading?

Answer: Forex trading is buying and selling currencies to make a profit.

 

The Forex market provides real-time prices of currencies. It offers the public - you and I - an opportunity to buy and sell currencies. Buying and selling currencies is called speculating or trading. Most buyers and sellers in the Forex market are speculators (traders)

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You can learn more about Forex and Forex trading by clicking on the free course below. The free program includes a free Forex Q&A PDF!

what is forex

Question: Why do people trade Forex?

Answer: Currency value (or price) is continually changing. Currencies increase in value and decrease in value. Traders trade Forex to make a profit from these price movements. They do this by buying a currency and then selling the currency for a higher price in the future. This results in making a profit.

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People trade Forex in the hope of making money.

Question: How do people trade Forex?

Answer: The Forex market is only accessible by using a Forex broker. Without a Forex broker, you cannot trade Forex. A Forex broker offers access to the Forex market.

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You can learn more about Forex brokers on my Free Forex Brokers page.

Question: Can you make money trading Forex?

Answer: Yes, but most lose money.

 

To trade Forex profitably, you need an edge (a trading strategy) and emotional discipline. 

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This website will teach you how to be a profitable Forex trader. I suggest starting with my free Forex training material. All the content is free.

Question: What is the best way to learn Forex?

Answer:  You should focus on the following in order; learning the basics of Forex, learning the basics of technical analysis, learning the basics of fundamental analysis, and then start practicing with a free Forex demo account. All these steps are on my Become a Forex Trader page.

Question: How long does it take to become a Forex trader?

Answer:  Becoming a Forex trader is not easy - it takes time, practice, and great discipline.

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You can speed up the learning process by taking my Ultimate Forex Trading Course or by signing up for my Forex Mentor Program. Both options include access to a real Forex trader to answer your Forex market questions. 

How much do you need to get started? leverage. Willing to lose. 

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Swap and rollover rates 7 trading strategies p33-34

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Commissions

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Order types 7 trading strategies p36-37

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Spot Forex

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