What is Forex? What is forex work?
If you ever travel abroad, you exchange exchange of currency in the country you travel instead of the money in the airport.
If you look at the counter screen, you will see that the cost of $ 1 is equal to Tk 75. Your mind will become so bad that you have to exchange so much money in exchange for so little. When you say that the price of 1 Pepsi is a few cents, you are happy again.
When you do this, you are participating in Forex market. You exchange exchange with one currency instead of one currency. When you travel to America, you exchange dollars in exchange for money.
When you come back to the country when the dollar is converted to money again, you will see that the exchange rate has changed. This exchange rate has changed, with that you can gain in forex market and make money.
Forex Exchange Market, commonly known as "Forex" or "FX" / "FX", is the world's largest financial market. If compared to the New York Stock Exchange (NYSE), Decken is trading at $ 22.4 billion daily in NYSE and the forex market is approximately $ 5 trillion daily trade.
You hear various news in the NYSE, CNBC, Bloomberg or BBC market. They basically talk about the stock market. So the market seems to be very big and loud.
But when compared to forex market, you will see that the market is the largest. The following graph will give you ideas.
Average trading volume
Forex market is more than 200 times larger than other stock market. But there is another side here. $ 5 trillion is the size of the global Forex market.
RAILAIL TRADERS means that we trade on the forex market, estimated at $ 1.49 trillion. Then see that the forex market is bigger than the stock market also.
Now is the curiosity about the market awake? Let's go to the next practice.
What do you trade What is trading in Forex market?
The simple answer is the price ... Thukku currency.
Since you are not buying anything, so it may seem a little confusing.
Buying a currency can seem like buying a country's shares, just like buying a company's shares. Currency prices show the current and future conditions of a country that the market is thinking about that currency.
Suppose when you buy Japanese currency, you are buying 1 stock of Japan. The purpose behind your purchase is that the Japanese economy will do better and in the future when you sell it, you will gain profit.
Generally, the price of one currency will not decrease with the price of other currency, depending on who is doing better than any of the two countries.
However, when you know more detail, then be more interested in trading.
Major Concepts
The Majors
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Symbols Country
USD United States
EUR Europe
JPY Japan
GBP United Kingdom
CHF Switzerland
CAD Canada
AUD Australia
NZD Newzeland
Currency symbols are always three letters. Where the first two letters identify the country and identify the currency of the third letter country.
For example, NZD is defined by NZ as New Zealand and D means Dollar.
The currencies that are seen in the chart above are called Major Currency. Because they are the most traded currency.
Some other dollar names: greenbacks, bones, benjis, benjamins, cheddar, paper, loot, scrilla, cheese, bread, moolah, dead presidents, and cash money