Hey what’s up people Supermarket Twoo here broadcasting for the world. And today I want to explain you what is Forex and how you can get some money using Forex. Let’s go.
Forex, forex the magic word. Many times we’ve heard it and many times we’ve asked ourselves “WHAT IS FOREX??”. Alright it’s very simple because forex means foreign exchange.
Forex means FOreign EXchange.
OK, so now that you know what the word forex means, let’s jump into explaining how you can get some money using forex.
OK so if you want to make some money with forex you have to understand that forex has currency pairs: EUR/USD, USD/JPY, EUR/GBP, etc. There are like 40-50 currency pairs including all the major currencies in the world like Unites States Dollar, Euro, Japanese Yen, Australian Dollar, Mexican Dollar, etc.
So when you buy let’s say 100$ in USD/JPY, you are buying 100$ of United States Dollars in terms of what A US Dollar costs in Japanese Yen. So basically when you buy USD/JPY, you are buying US dollars and selling japanese yens. And you make money if the USD/JPY goes up, because when it goes up, you end up having more money in your hands so when USD/JPY goes up, you see that now you have more money and you CLOSE THE POSITION and that’s how you earn money with forex.
To be able to earn money with forex you have to be able to predict the movements of the markets and you have to know where every currency pair(EUR/USD, USD/JPY, etc) will go. You have to know if it will go up or if it will go down. So if you know that USD/JPY will go up, you buy the USD/JPY in your broker’s platform and if you know that the USD/JPY will go down, you open a SELL position with the USD/JPY currency pair.
So there are only two types of positions that you can open with your forex operator platform: YOU CAN OPEN A BUY POSITION OR YOU CAN OPEN A SELL POSITION. People also call a buy position “LONG” and a sell position “SHORT”.
So depending on the broker, you have a thing that is called “LEVERAGE” and leverage can be x2 x10 x50 x100 and the LEVERAGE is what allows you to operate with high volumes of forex money using low volumes of your money. Because with a leverage of x50 you will be operating with 5.000$ using just 100$ that is what leverage does – it multiplies your investment.
But you have to know something about leverage – leverage multiplies your investment for the high and for the low so when your forex pair goes up, your investment will go up faster than normal and if your forex pair goes down, your investment will go down faster than normal. I think you get the idea. Leverage just multiplies your investment so you can operate with higher volumes of money.
Alright guys so this is it. I have explained you what Forex is and how you can earn money with forex. Ah, and if you want to trade with forex you will need a platform, an online platform that is your broker. I’m currently using a broker that is called eToro and here I give you the link so you can go and join this platform: this is the link for joining the etoro platform. And I must say that with Forex you have to know what you’re doing and analyze the markets well or ask somebody about the forex signals or something(there are some nice groups on Telegram). And if you join etoro I recommend you that you spend some time analyzing the charts, analyzing the markets and everything. There is also a nice option on etoro that is a copytrader option where you can invest some of your money(let’s say 500$) with one of etoro’s “popular investors”. There is a list of popular investors in there and you can see every investor’s profit/loss graphics for each month and each year they have been trading and how many people copy every investor and what operations that investor has open right now.
So if you use the copytrader function and you invest let’s say 500$ with the investor called JeppeKirkBonde(it’s a guy from UK), every operation that he makes will be mirrored with a proportional part of the 500$ you’ve invested with this guy.
Alrgiht so I’ve explained you what is Forex and how you can make money with forex and I also give you an online platform where you can operate with forex, here it is: online broker.
OK guys, here I finish this article. My name is Supermarket Twoo and I love you all. Take your time with forex, don’t become too enthusiastic, be cool and analyze the stuff. Get some forex signals or something or some mentor whatever. Get into the forex groups on Facebook, see some forex videos on youtube and look for all the good info about investing.
BYE BYE My lovely brothers and sisters.
PS invest your money in different streams – DIVERSIFY, always diversify. And always keep just a little bit for yourself just in case you know.