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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.

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.

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)

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.

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.

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. 

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.

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. 

Swap and rollover rates 7 trading strategies p33-34

Commissions

Order types 7 trading strategies p36-37

Spot Forex

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