This Forex Trading we do on our Personal Computers or Phones is also called Retail Trading or Speculation. Speculation means you guess (predict). Is Similar to betting. Here you use forex information to guess or predict the Next Direction Forex or Exchange Rates
What is Forex Trading
In Real Life people and companies buy items across countries, Demand and Supply goes up and Down, as a result Exchange Rates goes up and down, meaning value of a currency is also going up and down.
NB
Since Computers are Monitoring and determining the Currency Exchanges, the computers can draw Chats that shows Areas where a Currency is likely to gain or lose value (Area where a currency can be demanded more or less, also area where exchange rates can go up or down).
:) Therefore, when Retail Trader like me and you sees the Areas where Currency is likely to go up or down, is our Opportunity to Bet. If we chose right direction we win, if we chose wrong dicrection we lose, and we can control how much we want to bet, how much we wanna risk, when, ect.
When we trade or bet a direction, we do so via Companies called brokers (Agents). the Brokers give you Trading Software Like MetaTrader, cTrader, or Others. The Trading Software will shows you All currencies and their chats so that you can spot areas where a particular currency is likely to lose or gain value
Trading Software will show you Chats like this
Before you can understand this chats and Start Trading, you will have to Register with a broker, Install Trading Software, and Have a Trading Strategy. We gonna walk you through all those.
Now lets understand whose are brokers, how to they work
