Forex Academy:
Primary School
5 minutes
Lesson 1
Not participating Forex is a big mistake?!
- First of all, let’s find out what Forex is?
- How does Forex work?
- I’m not good with technology and this seems quite difficult. Am I able to participate?
- I don’t have much free time, can I trade?
First of all, let’s find out what Forex is?
Forex is short for Foreign Exchange, and Forex Trading is one of the most popular forms of trading in recent years.
There are about 7 million people trading Forex worldwide.
You can trade anytime, anywhere on your mobile phone or computer browser.
Forex trading involves exchanging currencies online instead of going to a foreign exchange counter.
Just like at foreign exchange counters, you can trade many different currencies when trading Forex.
Why is Forex the best investment method?
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You can trade different trading products such as currency pairs, gold, oil and Bitcoin.
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You can invest via your mobile phone, easily accessible anytime, anywhere
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You can trade almost 24 hours from Monday to Friday
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Can invest with small capital (from 20 USD).
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Whether the foreign exchange rate increases or decreases, profits can be made.
How does Forex work?
The trading mechanism of Forex is to buy currencies at low prices, sell when prices are high and and thereby making a profit.
For example, let’s consider trading gold:
You bought 1 oz of gold for $1,000 (1 oz of gold = approximately 8.3 gold coins)
The next day, the price of 1 oz of gold has increased from $1,000 to $1,100.
You sold 1 oz of gold and received $1,100.
Since you bought gold for $1,000 and sold it for $1,100, you made a profit of $100.
This is the mechanism for making profits when trading Forex.
Well, but I’m not good at technology and this seems quite difficult, can I still participate in Forex trading?
In Forex trading, the difference between the buying price and the selling price is the profit.
In other words, if there is a positive difference between the buying price and the selling price, where the buying price is lower than the selling price, you will make a profit.
Therefore, it is not difficult for even beginners to make a profit because even if the difference is only $0.1, you will still make a profit.
See the statistics table below. Here is a chart showing the experience of Forex traders.
61% of Forex traders are beginners.
Next, Table 2 shows the results of the traders occupation survey.
You can see that up to 70% are currently office workers.
Most Forex traders are ordinary people and are beginners!!
It is easy for even beginners to start trading!
As long as you have basic knowledge of Forex trading, even if you are a beginner, you can make profit!
I don’t have much free time, can I trade?
You can earn 100 USD in 30 minutes per day,
just by trading during your free time, such as during breaks or breakfast.
You can do it too! Start trading Forex now!
The lesson on “Not participating Forex is a big mistake” ends here.
Let’s check to see if you understand the lesson!
In the next lesson, we will guide you about currency pairs. Please continue to follow.
If you have any questions, please contact us.