“Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough.”
There are various ways of making money and most people prefer it to either real estate or Forex trading. So what exactly is Forex, it stands for Foreign Exchange, meaning buying and selling of one currency in exchange for the other. One of the businesses that go across the globe, i.e., the participation of many nations in the market takes place without much capital. The demand for a certain currency will either go up or down in value as compared to other currencies at a given moment. Najam Mahmood is an expert who has been in the business and has been trading for the past 26 years.
Learning to exchange forex requires learning with experts who can better explain the price of currency pairs. You will get a hang of it and move one step closer to the first currency exchange, and measure your trade profit. Many currency pairs switch between 50 and 100 pips per day (sometimes more or less depending on overall market conditions). The name used to denote the fourth decimal place in a currency pair is a pip (an acronym for Point in Percentage) or the second decimal place in a currency pair when JPY is in the pair. If the EUR/USD price moves from 1.3500 to 1.3550, that’s a 50 pip move and thus, you can make a 50-pip profit if you purchased the pair at 1.3500 and further sold them at 1.3550.
On a forex price map it always happens that the first currency mentioned in the pair is directional currency for trading purposes. If the price goes up to the EUR/USD, this means that the euro is heading higher than the US dollar and vice-versa. Understanding various concepts related to forex with Najam Mahmood can make you a pro in the field with learning aspects that may be new to you.