Dear friend, if you are new to this field and you want to know what the Forex market is, you should first of all know that Forex and stock exchanges are not a place to gamble and get rich. To succeed in this market, you need awareness, order, capital management, change of some thoughts, control of emotions and many other important things in order to achieve stability in these markets. I hope this educational material is useful for any person and at any level. If you have any questions in this regard, send your question via email. If I can, I will put the answer to your question on the question answer page. In simple terms, Forex is the largest financial market in the world that has no specific place and in which currency is traded and the value of currencies is measured against each other. For more details, read on and read the whole text carefully. The Forex market has always been and still is important for foreign trade and doing business. How this happens and how Forex works. It is interesting for many people. To understand the basis and mechanism of this market, we must first look at its history and current situation.
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Forex Market History
Two historical events play a key role in the creation and development of the Forex market, which is the creation of the gold standard base system. Bretton Woods and the Gold Standard System The standard gold and Bretton Woods systems were created in 1875. The main idea behind this system was for governments (Gold Standard) to guarantee the support of a currency by gold. All major economies established a standard system in which a currency could be exchanged for a fixed amount of gold. Thus, in order to determine the value of one currency against another, it was necessary to:
The ratio of the amount of gold needed to buy it and thus the exchange rate was determined. This is the first standard currency exchange instrument in history, at which time countries sought to adopt monetary exchange control policies. However, World War I put an end to this system because countries pursued monetary policies that were not tied to a fixed exchange rate system in the standard gold standard system. The importance of an alternative monetary system to the standard gold standard system prompted 700 Allied delegates to gather in July 1944 in Bretton Woods, New Hampshire, USA, to sign a contract for a new monetary system. The contract that led to the creation of the system known as the Bretton Woods International Monetary Management System. The creation of this system led to the formation of fixed exchange rates, as the United States set the value of the dollar at $ 35 per ounce of gold, and other countries stabilized their currencies in dollars. Thus, the US dollar became the main reserve currency and the only currency backed by gold. In the 1970s, however, the US gold reserves were so small that the US Treasury could not use them to cover the reserves held by foreign central banks. The United States announced in 1971 that it would no longer exchange gold for dollars held by foreign central banks. This was the end of the Bretton Woods system and the beginning of the Forex trading system. In the 1970s, however, the US gold reserves were so small that the US Treasury could not use them to cover the reserves held by foreign central banks. The United States announced in 1971 that it would no longer exchange gold for dollars held by foreign central banks. This was the end of the Bretton Woods system and the beginning of the Forex trading system. In the 1970s, however, the US gold reserves were so small that the US Treasury could not use them to cover the reserves held by foreign central banks. The United States announced in 1971 that it would no longer exchange gold for dollars held by foreign central banks. This was the end of the Bretton Woods system and the beginning of the Forex trading system.
What is the Forex Market?
The foreign exchange market called Forex is a global market in which currencies are traded. There is no centralized trading in the OTC market, but forex trading is an electronic OTC market where all trades are done by computer by traders and other market participants around the world.
The foreign exchange market is the largest financial market in the world, where the average daily turnover is constantly increasing. The daily turnover of transactions in the world is estimated at $ 4 trillion, 80% of which is related to risky transactions in order to make a profit from trading exchange rate differences. Such a volume means that the market liquidity, the total volume of sales and purchases in a given period of time, is very high. This is a very important factor that makes it possible to easily buy and sell currencies, and especially from the perspective of an investor, determines the ease with which currency prices change over a period of time.
How to trade in the Forex market
A transaction that takes place in the foreign exchange market involves buying one currency and selling another. Because the value of one currency is related to another and is determined by comparing the two. Forex trading from the perspective of a small trader is guessing the value of one currency against another. Each currency pair as an independent unit consists of “base currency” (first currency) and “opposite currency (or quote)” (second currency) that can be bought or sold, which shows how much of the opposite currency Needed to buy a unit of base currency. Therefore, the door is called a quoted currency. If you expect the price of the Euro against the USD as the base currency and the EUR as the currency, buy the EUR / USD currency pair. Buying a currency pair means EUR / USD The price of the US dollar will increase in which case you can get a currency pair in EUR / USD. Currencies are traded on the world’s largest stock exchanges and markets: Zurich, Hong Kong, New York, Tokyo, Frankfurt, London, Sydney and Paris. This means that this market is active during the working hours of all countries. Whenever the market closes in the United States, business days begin in Tokyo and Hong Kong. Time flexibility makes it easy for traders to have a busy work schedule. They do not have to worry about the opening and closing hours of the market and are free to trade at any time that is convenient for them. Forex market participants The foreign exchange market is made up of different actors, also called Forex market players, who trade in the market with completely different motives. This means that Forex trading is not just for speculation purposes. Each of the actors plays its role in the market, which ensures its integrity and stability.
Governments and Central Banks *
Companies and Commercial Banks *
Funds *
Brokerage Companies *
Investors *
Small Forex Traders *
Speculators *
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