Definition of forex has been described in What is Forex?. When someone exchanges his money to another curency, actually he is doing the foreign currency exchange. Foreign exchange can be done by give the money in physical or not. Trade by submission of physical may happen when you buy or sell foreign currency through the services of a money changer. For example, when you buy US Dollar from money changer, you will receive the physical form of the money, which you can use to buy stuffs, pay a service, or you may keep it to resell.
This time, when movement of informations become faster, the foreign trading currency is not limited to the exchange of money in physical form. Many exchange currency transactions have been converted into digital form. The goal is doing deal in the right time at the right price, beside that the currency will not effected by rebates which cause of some physical damages. When you buy or sell a currency, you will not get it in the physical form, but you will get a confirmation of the last transaction.
To survive in forex is not too easy but also not too hard. Many books, ebooks, articles, and videos discusses about how to play and survive in forex. Almost all of them give you various techniques of technical analyst. Some of them were creating trading robot softwares and indicators to help you create decision. They are believe that technical analyst is easier to read than fundamental analyst. Technical analysts believe that prices always move uniformly follow a certain pattern. Their purposes to learn the patterns are to found the price trend as fast as possible, to estimate the possibility time and range of the trend, and to choose the benefit time to entry and exit the market. For fundamental analysts, they analyzed based on news about the condition and situation of economic, political, and security of countries globally. Especially for major currencies such as United States, United Kingdom, Europe, Japan, dan Swiss.
In the reality, you can't ignore one of them. These two analysis technique are related and supporting each other. The price movement is based on the periodically state of reports, which every issue can give a different impact. In about one to two hours before the report is declared, someone will give a forecast of the report based on the previous results and the summary of the daily news. For example is the report of jobless claim or known as unemployment rate in Indonesia. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Let's say, many companies, in Indonesia, reject applicants because they do not meet the education and work experience requirements, while the population growth rapidly. Then, before the actual report is declared by goverment, the forecaster will give his prediction that the result of unemployment rate this week will be higher than previous. It means, the Indonesian currency will weaken. If the actual result is higher than the forecast, then the graphic, which is IDR as the base currency, will stay down.
This time, when movement of informations become faster, the foreign trading currency is not limited to the exchange of money in physical form. Many exchange currency transactions have been converted into digital form. The goal is doing deal in the right time at the right price, beside that the currency will not effected by rebates which cause of some physical damages. When you buy or sell a currency, you will not get it in the physical form, but you will get a confirmation of the last transaction.
To survive in forex is not too easy but also not too hard. Many books, ebooks, articles, and videos discusses about how to play and survive in forex. Almost all of them give you various techniques of technical analyst. Some of them were creating trading robot softwares and indicators to help you create decision. They are believe that technical analyst is easier to read than fundamental analyst. Technical analysts believe that prices always move uniformly follow a certain pattern. Their purposes to learn the patterns are to found the price trend as fast as possible, to estimate the possibility time and range of the trend, and to choose the benefit time to entry and exit the market. For fundamental analysts, they analyzed based on news about the condition and situation of economic, political, and security of countries globally. Especially for major currencies such as United States, United Kingdom, Europe, Japan, dan Swiss.
In the reality, you can't ignore one of them. These two analysis technique are related and supporting each other. The price movement is based on the periodically state of reports, which every issue can give a different impact. In about one to two hours before the report is declared, someone will give a forecast of the report based on the previous results and the summary of the daily news. For example is the report of jobless claim or known as unemployment rate in Indonesia. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Let's say, many companies, in Indonesia, reject applicants because they do not meet the education and work experience requirements, while the population growth rapidly. Then, before the actual report is declared by goverment, the forecaster will give his prediction that the result of unemployment rate this week will be higher than previous. It means, the Indonesian currency will weaken. If the actual result is higher than the forecast, then the graphic, which is IDR as the base currency, will stay down.
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