FOREX TRADING MASTERCLASS

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FOREX TRADING MASTERCLASS
INTRODUCTION
The world's economy has undergone a series of phases. Trade by Barter was the order of the day in the primitive era, where exchange of goods for was the predominantly the only means of trading.
However, the recent era has witnessed a major digression from what used to be. The whole world is shrinked into one global village where innovation is possible via technology. This makes e-commerce possible. The vast majority of business executives and corporations have also witnessed s witch in business operations both internally and externally.
The possible aspect of this switch is that economies of the world have embraced the changes. Thus, makes life better, smarter, easier and enjoying.

WHAT IS FOREX ( FX)
Before we delve into explaining what forex is and the various concepts of forex trading, we must have a Crystal understanding of the term FOREX.
The word forex is a combination of two terms:

1. Foreign
2. Exchange
   FOREIGN: It simply means something that is not home- base. Anything that is not wired within your country, custom or tradition is said to be foreign.
   EXCHANGE: It is the process of giving up something in other to have something else. That to me is the simplest way to explain it. When you exchange $20 to get $40 it when you exchange book for pen, that is exchange. When you also exchange BUCK to get FIBER, you are automatically participating in forex markets,too.

Some of us have travelled alot, and it is part of education. If you have ever travelled to another country,you always had to find a currency exchange booth at the airport, and then exchange the money you have to the currency of the country you are travelling to. Let us say, you are an American, and you are travelling to Japan, definitely, you must exchange BUCK to YEN at the airport before you take a flight. If that is not done, there is no how you will be able to use BUCK in a country where YEN is used.
Thus, Forex is the exchange of one currency with another currency for the purpose of transaction.
FACTS ABOUT FOREX(FX)
1.The foreign exchange market is the largest financial markets in the world. Compared to over #74 billion a day volume of the New York Stock Exchange.

1. Foreign exchange markets look absolutely ginormous with its $4 Trillion a day trade volume.
2. The huge $4 Trillion number represents entire global foreign exchange markets.
3. The retail traders - those who buy and sell in small quantities, trade about $ 1.49 Trillion.
   PROFESSIONAL ADVICE
   Forex is such a lucrative skill to learn which can help you, above other things smile to bank.
   As we continue in this masterclass, it will help expand your horizons on the important and the need of venturing into FOREX BUSINESS.
   We will continue this class some other day. Keep checking ! Keep reading as I will be dropping vital information next class.
   Enjoy your day ahead!