Beginners Tips for Ladies in Forex Trading

Beginners Tips for Ladies in Forex Trading

Perhaps, the fact that forex trading is potential to be profitable investment could make you open your mind now. This article tries to simplify the complicated technical analysis' for ladies by talking about it in the point of view of shoppers!

How do you feel if you receive text in your mobile telling that today you can buy the newest BodyShop perfume 30% lower compared to the price you have checked last week? If you really want it, absolutely you will buy it before the promotion last. The text is simply telling you the price change of the perfume. If you invest in forex, let say you have bought Japanese Yen, how you could gain profit? You should sell it when the price' of the Yen increases! If you want to invest in Euro, when is the perfect time to buy and start investing? When the price' of Euro decreases! It is simple, right? So how do you know if the Yen is increased and the Euro is decreased? You can know it by looking at forex chart.

Ladies, forex chart basically is the price information about Yen, Euro and other currencies. The chart is provided is line chart, point and figure. When the line is going up, the price is increased, vice versa. How could we determine the price' in forex market? The price of Yen and Euro should be quoted in other currencies such as US dollar. This is why they call the price as exchange rate. Keep it simple, the exchange rate will be stated as JPY/USD or EUR/USD. For example, if the exchange rate is JPY/USD = 0.52, it means for every Yen you can purchase it with USD 0.52. This exchange rate will not be static, it will change from time to time. In rapid changes in political or economic the changes in a day will be more likely to happen a lot.

Start to get confused now? No need! Forex chart records the changes of the exchange rate daily, weekly, monthly and even yearly. The make it as a combination of dots in line diagram forming a line. You can see that it could be upward, downward and most of the time combination of both. If the EUR/USD is downward, it means that it is now cheaper to buy Euro, vice versa. If you can draw a line chart for your perfume price, that how actually a forex chart is.

The last lesson for ladies about this chart is how to get this chart? If you want for free, just sit during news time in front of TV, there must be a section for business mentioning the changes in exchange rate. What if you want to know the changes at any time you want, because you don't want to loss chance to make forex gain. You should install software in your computer, connect to internet and get the recent updates by simple clicks.

In summary, to understand forex trading, you need to know the price of the currency you want to invest. Since that currency should be valued by other currency, the price will be stated as forex exchange rate rather than single price like your perfume. Forexc chart will show you the changes of the exchange rate and inform you if now is the time to buy or to sell your forex. Isn't it simple?!

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