About Forex

Forex stands for 'Foreign Exchange' and in our language it might be more correct to call foreign currency exchange. While trading is trading, so the term Forex Trading can be called 'foreign currency trading. Foreign currency trading in Indonesia is often heard of people calling it 'foreign currency trading or foreign exchange trading' or forex trading.

The capital market or forex is the largest money market in the world, the actors include government central banks, investment banks, as well as individuals/individuals where the currency is traded. Forex market movements rotate 24 hours from Monday to Friday starting from the New Zealand & Australia markets which take place at 05.00-14.00 WIB, continue to the Asian markets namely Japan, Singapore & Hong Kong which take place at 07.00-16.00 WIB, to the European market namely Germany & English which takes place at 13.00-22.00 WIB, to the American market which takes place at 20.30-10.30 WIB.

The most frequently traded favorite currencies are 8 (eight):
-USD US Dollar (Greenback)
-EUR Euros
-GBP Pound Sterling (Sterling /Cable)
-JPY Yen
-CHF Swiss Frank (Switzerland)
-CAD Canadian Dollars (Looney)
-AUD Australian Dollars (Aussie)
-NZD New Zealand Dollars (Kiwi)

The basic principle of forex is the same as all types of trading, namely buying at a low price and selling again after the price rises or buying at the lowest price and selling at the highest price.
In the forex market, money traded in pairs is called
pairs.

There are two types of pairs in the forex market, namely Major Pairs and Cross Pairs
Major pairs are where in the pair the currency is paired with usd, for example:
-GBP/USD
-USD/JPY
-USD/CAD
-EUR/USD

Cross pair is the multiplication of 2 major pairs. example :
-EUR/JPY : EUR/USD times USD/JPY
-GBP/JPY : GBP/USD times USD/JPY

There are two types of forex transactions, namely buy and sell. For example, if we buy EUR/USD, it means we buy EUR and then sell USD. And conversely if we sell EUR/USD it means we sell EUR then buy USD.
Before we make transactions we must be able to analyze the Forex market.

There are two ways to analyze the market, namely:
Fundamental Analysis
namely analyzing the market from world economic news which includes economic indicators, political and financial policies, social factors, as well as global economic and political conditions.

Technical Analysis
namely analysis with the help of charts with the aim of predicting the movement of a price