4 money, foreign exchange, finance
1. What does forex stands for?
Foreign exchange
2. What does forex refer to?
The trading of one currency for another
3. What is forex trading?
A global descentralized market
4. What does forex trading market refer to?
A currency market
5. How does the foreign exchange work?
The market determines the rates for each of the currencies for their sell and purchase
6. What do people trade?
Currencies
7. How do people trade?
The currency trading is done in pairs, you have to buy one currency and sell another
8. What is a currency pair?
When a person buys a currency and sells a currency at the same time, these two currencies combination is called a currency pair
9. What makes currencies pairs move?
The currency pairs will move if the base currency weakens or strengthens
Hi Mirleth! My first impression of your job is that you summarized your answers pretty well.
ReplyDeleteIn the second question I wrote a few words different: ´ It is a market where exists potentially hundreds of permutations we could trade.´ But, after all we have the same meaning, right?
If we talk about how people trade, I can add that: the majority of trading does not happen on exchanges, the vast majority of trading is off exchange, it is what we call over-the-counter (OTC). The core of the forex market is the inter-bank, this happens between very large banks where they offer each other favorable exchange rates in terms of the closeness of the buy and sell prices. Retail clients can access forex market via CDF and FX brokers.
What do you think about it?
Actually, in the Whatsapp groups we can see a bunch of messages, they try to influence us to begin in the Forex market, at the same time, the University has conferences about investments, but we are afraid of it… especially when the fluctuation of the currencies do not helps us.
Hi, Mirleth! Great job :) Your answers are concise and accurate, plus you helped me to understand a little more the perspective of the topic and how important it is. I think trade is very important and has a lot of benefits.
ReplyDeleteI love the way you answer the questions, with a short text you make everything clear, we have the same ideas. Good job Mirleth!
ReplyDelete