Real Time Forex Quotes (1)

Real Time Forex Quotes (1)

 

What is Forex? Foreign Exchange

yougetthemoney-Real Time Forex Quotes

Currencies around the world go up and down all the time and the amount of money changing hands daily is over $5 trillion.

 

A Trillion is a million million

 

So if you make a few million a year – no-body will notice, and there is a lot of liquidity to trade on. Plenty of room for us ordinary folk.

There are different ways to trade and the usual way for beginners is through Spread Betting.

This means you can bet that a currency pair will go up or down. This an advantage over traditional “Booky” type bets or buying and selling shares.

The currencies are “paired” that is 2 currencies quoted as a value. E.g.GB£/US$ =1.4201

This currency pair value means that if one currency goes up in value against the other, this value changes. Roughly there are $1.4 to £1.

If the $ goes up, the Forex value goes down – fewer dollars to the pound. If the £ goes up the Forex value goes down. However, that is not what traders look at.

Traders look at the charts of the £$ Forex value over years / months/ days and even hours and minutes. This gives them a feel for which direction the currency pair is moving in, up or down.

There are technical patterns in the graphs which give an indication of which way they will move.

There are plenty of courses and lots of good forums online to teach you how to trade on Forex. There is a lot of money to be made, however be careful, do not trade with money you can afford to lose. It is a business, if you do it right. Like all businesses, it can fail or succeed and it depends on how much you learn and how hard you work.

You will need a broker and data. The data comes with a cost, depending on the “feed”, whether you want to trade at the end of each day or at any time of the day. Generally it is worth having Real time Forex quotes so that you can develop a feeling for the markets and where the currencies are going.

It is a business you can sit at home with a PC / laptop and work the hours you want.

This is a snapshot of Forex Trading and we will follow with more details, for those who become serious about it, later.

 

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