Okay, so I'm totally new to the world of forex trading. I've looked around and managed to learn that it has to do with the rates of exchange...beyond that, I'm pretty much lost. What is it? How do you do it? How different is it from stock trading?
LOL, don't worry, Sweet Charity I am also a partial noob LOL!
Anyway, the way I understand is that forex is currency trading, and stock trading means shares of stocks/commodity.
Those who are not noobs, am I right ?
Soooo...you buy another country's currency (or just exchange some of your currency for some of theirs?) and when the value of their currency in relation to your currency changes, you either make money or lose it? Is that right?
Hi, though a newbie, this one you're talking about Sweet Charity is about Forex trading, the value of the different currencies fluctuates and in the process, when you trade on them, you either lose or gain.
That's some sound advice there. I can never stress enough how much doing a few hours worth of research will pay off in the long run. But you shouldn't stop there. You need to keep continuing to research and read as your progressing.