What Is Forex?
Forex is the knowledge and business of making money through trading
foreign currencies. Forex is not a new business and its history is as
old as the history of money.
What is forex is a question that people ask a lot these days. There
are people who have been making money through Forex from many years
ago. Fortunately, with the help of computer and internet, Forex
trading has become much easier. You can sit at your personal computer
and trade from home without having to make any phone call or referring
to any bank.
How can you make money?
Buying low and selling high or selling high and buying low is the base
of making money in Forex. For example If you buy GBP against USD when
each GBP is equal to $1.9554USD and then sell it when it is
$2.0235USD, you have made a profit.
But the big question is that how you can find out the best time to buy
and how you can predict that if you buy, the price will go up and you
will make a profit? This is the most important question that makes you
a successful trader.
There are two methods to know the optimum time to buy and sell:
Technical and Fundamental Analysis.
In technical analysis, you can predict the direction of the price
using the the price chart analysis and also with the help of some
special tools that are called Indicators.
The other method is the Fundamental Analysis. This method is used to
predict the future movements of currencies' prices, according to the
economic and even political situation of the world and important
developed countries like USA, UK, Germany, Japan and ........
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