What is Forex, Basic Terminologies In forex

 

So in todays video I will be  talking some terminologies in Forex

1. Currency Pairs:
   

There are many currency pairs available on the forex market. Here are a few to get you started:

• USD/CAD
• USD/JPY
• GBP/USD
• AUD/USD

         2. PIPS:

Forex trading is a highly speculative market where traders can make a lot of money or lose a lot of money very quickly. Many people are attracted to forex trading because of the high potential for profits, but they often don’t understand the risks involved.

When you trade forex, you are dealing with what are called pip values. A pip is a unit of currency exchange. For example, 1 pip is equal to 1/100 of a US dollar. When you buy or sell currency, you are actually changing the number of pips in that currency.

Pips can be very important when trading forex. They tell you the value. 

In this video we will be mainly focused on the points listed above

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Forex trading is the fastest growing market in the world. It offers many opportunities for making money.

The most important thing to remember is to always stay disciplined and to have a plan for every trade.

Here are some tips to help you make money on forex:

1. Follow a consistent trading strategy.

2. Use technical analysis to identify good trading opportunities.

3. Use proper risk management techniques.

4. Stay disciplined and stay focused.

5. Make use of online forex trading platforms.

Step by step I will explain all of this.

the video below explains other terms in forex and also the above listed.

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