Read on Twitter
My main source of income is Fx trading
It’s allowed me to have 6 figure months at 24
I plan on teaching you all how to do it, from basic terms to my strategy
Here’s the 1st thread:
So what is Fx
Good question
Let’s answer that
It’s allowed me to have 6 figure months at 24
I plan on teaching you all how to do it, from basic terms to my strategy
Here’s the 1st thread:
So what is Fx
Good question
Let’s answer that
Forex or Fx for short is reference to the foreign exchange market
This is an OTC (over the counter) market meaning no exchange is involved
A market where traders (like me) can speculate & buy/sell currencies
In practice it’s no different to you swapping money for a holiday
This is an OTC (over the counter) market meaning no exchange is involved
A market where traders (like me) can speculate & buy/sell currencies
In practice it’s no different to you swapping money for a holiday
Forex is one of worlds largest markets
- open 24/5
- daily turnover of $5 trillion
- allows conversion of one currency into another
Although forex trading has practical purposes
Majority is carried out by specualtors, big banks and hedge funds
- open 24/5
- daily turnover of $5 trillion
- allows conversion of one currency into another
Although forex trading has practical purposes
Majority is carried out by specualtors, big banks and hedge funds
The ultimate aim of forex trading?
To make a profit (duh)
Most traders make exchange rate predictions to take advantage of price movement (betting one currency will strengthen whilst the other doesn’t)
There’s multiple types of currencies pairs you can trade
To make a profit (duh)
Most traders make exchange rate predictions to take advantage of price movement (betting one currency will strengthen whilst the other doesn’t)
There’s multiple types of currencies pairs you can trade
The currencies pairs belong to distinct groups
- Majors (~80% of the volume traded)
E.g GBP/USD, EUR/USD
- Minors (2 of the major currencies)
E.g EUR/GBP
- Exotics (A major vs an emerging)
E.g GBP/MXN
- Regional (pairs classified by region)
E.g AUD/NZD
- Majors (~80% of the volume traded)
E.g GBP/USD, EUR/USD
- Minors (2 of the major currencies)
E.g EUR/GBP
- Exotics (A major vs an emerging)
E.g GBP/MXN
- Regional (pairs classified by region)
E.g AUD/NZD
So what causes shifts in these currencies?
Well I’m sure you’re aware but each currency normally belongs to an economy around the world
The price is driven by supply/demand of the currency
What effects this supply and demand?
- Central banks
- Positive/negative country news
Well I’m sure you’re aware but each currency normally belongs to an economy around the world
The price is driven by supply/demand of the currency
What effects this supply and demand?
- Central banks
- Positive/negative country news
Supply is controlled by central banks
They can announce numerous measures to effect this supply
Central bank announcements effect the price of currency dramatically
Quantitative easing involves injecting money (money printing) into the economy causing currency to drop value
They can announce numerous measures to effect this supply
Central bank announcements effect the price of currency dramatically
Quantitative easing involves injecting money (money printing) into the economy causing currency to drop value
Positive & negative news
Investors/banks want to put their money into countries/economies with a strong outlook
Positive news means investors are more likely to invest in the country therefore demand for the currency increases, increasing its price
Opposite for negative news
Investors/banks want to put their money into countries/economies with a strong outlook
Positive news means investors are more likely to invest in the country therefore demand for the currency increases, increasing its price
Opposite for negative news
A great example of all this was Brexit
The uk voted to leave the European Union
This created massive risk & uncertainty
Demand for the currency dropped from $1.50 to $1.32
To this day you can still see how brexit news with ongoing negotiations effect GBP/USD exchange rate
The uk voted to leave the European Union
This created massive risk & uncertainty
Demand for the currency dropped from $1.50 to $1.32
To this day you can still see how brexit news with ongoing negotiations effect GBP/USD exchange rate
That’s forex summed up in thread if I’m honest
There’s a lot in here, some I don’t want but necessary other parts missing but are too complicated/long
I plan on explaining everything about forex, including how I became a 6 figure trader on this Twitter + my strategy
There’s a lot in here, some I don’t want but necessary other parts missing but are too complicated/long
I plan on explaining everything about forex, including how I became a 6 figure trader on this Twitter + my strategy
