Forex Trading

Discussion in 'Investment Strategies and Markets' started by BitmasterXor, Oct 9, 2021.

  1. Admin Post
    BitmasterXor
    Spaced

    BitmasterXor Administrator Staff Member

    To get things rolling I thought I would post what I know about forex.

    Forex or Foreign Exchange market is the largest market in the world and everyone is welcome to trade it. So you might be wondering what is Forex and how do I Trade it. Forex is quite literally trading currency pairs for a profit.

    For example you could buy or sell or buy USD for British pound, now we all know different currencies are worth more or less in different countries at all times.... by trading forex you seek to make profit on trading with currencies which are worth more than your native country's

    In order to trade forex the first thing you need to do is sign up with a Forex Broker
    The second thing you will need is a trading platform / trading software.

    The most popular Forex Trading Platform to date is known as Metatrader 4, and there is a New Metatrader 5 out now.

    Here is the official link to the Meta Trader platform website: https://www.metatrader4.com/en

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    The programming / scripting language that metatrader 4 allows you to write in is known as MQL4 MetaQuotes Language 4 and 5 You can leverage this language to build your own Trading bots ... software bots that trade currencies on your behalf even while you sleep. There are thousands of professionally written scripts all over the internet at your disposal.

    I hope this brief introduction Helps members begin their research into this market.

    Good Luck Hackers!
     

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