asked in Others+Miscelleneous by (451 points) 1 7
A lot have been said about Forex trading. What is it about? What do you know Forex trading? Is it profitable? 
replied by (5 points) 2
Forex trading always involve selling one currency in order to buy another currency. For the reason they are always quoted pairs that show which currency is being bought and which is being sold. 
replied by (5 points) 2
Yes its very profitable. As long as you know how to handle that. In first it's hard to identify or to conduct with that. But if you follow all the instructions it will be easy to you soon. 
replied by LEGEND (6,077 points) 6 9 22
Forex trading basically is all about foreign exchange which deals with the buying and selling of currencies, stocks, bonds etc.
replied by ELITE (3,548 points) 3 7 11
Personally, I don't have enough knowledge about Forex trading and it's the reason why I haven't been able to invest in it till today.

If I happen to understand it better in the future, I'm definitely going to give it a try. 

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4 Answers

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answered by ELITE (3,210 points) 4 8 18
edited by
It's very profitable but risky as well. Without proper caution, a trader could loose an entire investment on a single trade.

Forex trading is basically exchange, the monetary engagement of buying and selling of currencies in major and minor pairs, stocks, commodities, indices, etc. Just like the common market where traders buy products on a certain amount and sell at a higher amount, forex trades on the same principles. Let's say you're trading a major pair of EUR/USD, you'd want to buy Euro against the dollar at a certain prize with the hopes of selling back at a certain higher price over a set period of time, in order to make a profit. The process also works the other way around.

However, forex trading in reality isn't as easy as buying and selling as it involves predicting real-time price movements, do not be deceived by those commercials. It takes a lot of time to understand the whole process, am talking about learning to work with trading instruments, understanding the different instruments used for trading and also learning how to read such instruments in order to be able to predict constant price movements which can be affected by many factors like government policies and most importantly, economic factors.

Personally, I enjoy trading, but not forest. I do most of my tradings around binary options. It's quiet similar with forex, but options affords quicker times for placing and execution of trades. In options, you choose to predict the rise and fall of prices within minutes. I'll recommend a beginner trader starts with options as it's a bit less complicated than forex trading.
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answered by VISIONARY (9,003 points) 6 10 19
Forex means foreign exchange, this simply means a decentralized global market that all the currencies in the world are traded so it like the hihgest and largest market in the world. Forex trading really needs one with the needed skills to pull through the risks of investing money into the market. It really a lucrative business and as the same time risky and one can lose big if not properly handled.
All one need to start trading on forex is a forex account, a computer with internet access and the needed skills. Better still you can relaise initially with a broker to help out while you learn the intricacies.
So if you have within $2000-$5000 you can fund your account and start trading on the low to test the waters but it a profitable venture but one just have to be careful.
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answered by (21 points) 1

The term "Forex" stands for Foreign Exchange. The Foreign Exchange market is the place where currencies are traded. In simple words, forex trading is the trading in currencies from different countries against each other, for example US Dollar to British Pounds.

Forex is an unregulated market, also known as OTC(Over-the-Counter) and it is the biggest market with average daily turn-over that runs into billions. To invest in the market, it is very important to first understand the movement of the forex market. Most of the traders who fail in forex trading or made losses in the initial stage, without prior knowledge of how forex trading is done, call it a scam. When you are looking to trade forex, it is important to posses a knowledge of forex market, it's basics and the strategies. You must also know how to minimize losses in trading Forex and maximize profits.

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answered by LEGEND (6,078 points) 2 10 28
Forex trading is very profitable and you can even become rich if you know how to do it. There are people, especially investors, invest in Forex trading because they know what big benefits they will be getting from it. There are large investors and even hired financial genius people to assist them in trading. For me, as an average employee, I really would like to try but the money from my salary is not enough for me to invest right now. I should be having some extra money from it. I think you will lose a lot on the first try and you will lose a lot, but if you are into trying and you will learn. It is very risky, a lot of people are afraid to lose a lot of money but see what happens to those who try, they are earning and investing some more because it really change their life.

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