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> What is Forex and Trading?

In this article I am going to explain basic concepts, since I get many questions from people who want to start in this world.

> What is Trading?

Trading is a market where transactions are made to exchange one product for another, they can be made with different products: commodities, indexes, stocks, currencies.

> What is Forex?

The forex is the market where you trade with currencies, that is, you buy and sell coins. This is the largest and most liquid market in the world, exceeds $ 5 trillion in daily transactions.

If you think a currency will increase in value, you can buy it. If you think it will decrease, you can sell it. With such a large market, finding a buyer when you are selling and a seller when you are buying is much easier than in other markets-

The forex market is open from Monday to Friday 24 hours a day. It only closes on weekends.

> What is traded in Forex?

The idea of buying currency can be a bit messy, because you’re not buying anything physical.

To better understand this, think that when you buy a currency you are investing in a Country, for example if you buy GBP – Pound sterling, you will be investing in the United Kingdom, the value of the currency, the state of the current economy and future projections and any other news that affects the economy.

The exchange rate of one currency against another is a reflection of the condition of the economy of that country, so there is a constant movement according to the currency that has more strength at that time.

These are the main currencies:

                  COUNTRY            CURRENCY            NICKNAME
USD          United States             Dollar                     Buck
EUR          Eurozone                    Euro                      Fiber
JPY            Japan                         Yen                        Yen
GBP           Great Britain             Pound                     Cable
CHF           Switzerland               Franc                     Swissy
CAD           Canada                    Dollar                     Loonie
AUD          Australia                   Dollar                     Aussie
NZD          New Zealand             Dollar                       Kiwi 

 

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