Forex trading, in essence, is a market of people buying different currencies of the world and sell them at a particular time to earn money. The spot market or “forex market” is one of the most volatile market in the world averaging of $4 trillion worth of transactions per day. Money is moving up and down by the seconds that is why, many people, businessmen and investors like it, because its always active, always moving and there’s always an opportunity to earn and profit.
Forex trading is not for the weak at heart or those who are not willing to make any risk. Forex trading is a very risky game and you can potentially lose money in just a blink of an eye. With that said, the only way we can minimize risk is to educate ourselves on how to trade in the forex market. Education and experience is the key here. If you’re looking for that “get rich quick” because a friend told you so about forex, you’re looking at the wrong place.
Forex trading, when you login to your forex trader account, you’ll see a bunch of graphs. And it is what comprises of the forex market. These graphs tell stories of how the price of a particular currency pair moved throughout the day, week, hour, months or year. You should be familiar on how to read these graphs. One of the most popular kind of graph is the one invented by the japanese to trade things in the ancient times. They call it the candle sticks. Candle sticks are well known graph in the forex trading industry and we suggest you also read on that for starters.
Forex philippines is not any different. Since we are playing in a global market, we don’t have to worry about the country we are in as we can always buy foreign currencies and earn money. Of course, there are advantages though in buying your own currency paired with another currency. You know the local news and news may affect the forex market. Being in the same country as the currency you are trading will have huge advantage.