WHAT IS FOREX TRADING
Forex Trading is simply exchanging(buying or selling) Foreign currencies. For instance, you simply have some dollars and go to a bureau or an agent to sell them for your local currency(say Ghana Cedis).
Forex trading has been in existence for centuries and have evolved immensely
In this digital age, business models have created around this practice to enable you buy and sell with your phone or laptop. They have been statistical charts developed to compare currencies all over the world based on value going up or down. So per the reading of the chart, you can predict whether a value goes up or down. If you predict correctly you earn profits based on lots size.
People have made a living and become millionaires mastering these charts to predict accurately most of the time. You may lose money if you predict wrongly.
To be able to be able to be a forex trader all that is require are:
1. Internet Connection
2. Broker
3.Capital
4. Strategy
BROKERS:
Brokers by comparison are like agents or bureau you buy and sell your currencies to. Most amateurs traders think Brokers tend to make money off their losses but this entirely wrong in fact the yearn for you to make money so they make money.
(Read the blog on HOW BROKERS MAKE MONEY to understand.)
There are several brokers but would recommend Deriv.com and Exness. (Read blog on the TOP 5 FOREX BROKERS)
CAPITAL
For beginners ,It is highly recommended you practice with a demo account first to understand and master the skill before using actual money. This averts risks involved. However, If you want to be an investor whilst someone trades your capital with the skillset that also works. This service is called account management and you can contact +233207299240 if interested.
STRATEGY
This refers to the money-printing mastery of the charts which enables you to be profitable and take Forex Trading as a career. Subscribe to our Youtube channel and sign up for our newsletter for free daily tutorials to turn from a beginner to a pro and change your financial situation forever. You would have to know Technical Analysis and Psychology of Trading . Practice and time would earn you mastery of the Trading skills to be profitable.
