What is Forex??
@thebradmeister (243)
Australia
February 13, 2010 9:36pm CST
To anyone that uses a Forex trader... What is it?
How does it work?
Where does the profit come from?
What are you actually investing in?
How long does your investment take to mature significantly?
I want to give it a go, but not untill I can answer those questions.
Anyone have any idea on this??
3 responses
@LeeHolt (433)
•
17 Feb 10
Hey Brad,
I am a Forex trader, and I will tell you if you wan't to be successfull in Forex trading, you will need to invest alot of time into learning, if you just jump straight in there you will blow you account pretty quickly.
Send me a PM and I will give you a few links to some good learning resources I used when I started out.
Lee.
@topffer (42156)
• France
14 Feb 10
A forex (FOReign EXchange) trader trades currencies in an international market opend from monday to friday.
Where the profits come from ? Hmmm... An example is better. You buy today 0.7343 euro for a dollar. If the euro rises from a pip (the lower variation for a currency in forex. For EUR/USD, it's 0.0001) tomorrow, you will have profits buying dollars again.
There is a part of luck and a part of skill in forex : try a few money there at your own risks if you want.
