Investing in Currency
What is currency investing?
The currency is the money that each country uses. In which the value of money in each country is not equal
Makes it time to go to any country It must be exchanged to the currency of the country that you want to travel to, for
example, to go to Japan, you have to exchange yen, go to Korea, exchange won, etc.
Each country has 3 abbreviations, the first two are the abbreviations of the country. The last is the currency abbreviation, for
example
THB where TH is Thailand and B is Bath JPY where JP is Japan and Y is Yen etc.
Dollar
Euro
Yen
Pound
The value of the money in exchange will change continuously depending on the economic conditions, politics or other factors of different countries, such as if the baht is used in exchange for the yen 1 baht may be exchanged for 3.3 yen, but after 10 minutes, it may be 1 baht, can be exchanged for 3.5 yen, which, if exchanged back to baht, will have a profit of 0.2 yen, etc.
Forex will select two currency pairs to trade. Own like
EUR / USD Euro against dollar
USD / JPY, dollar against yen
GBP / USD, pound and dollar
Trading in major currencies such as the US Dollar (USD), Euro (EUR), Pound Sterling (GBP), Yen (JPY) is highly liquid. Due to the large number of players and price changes over time, in the past, Forex market players were limited to large financial institutions such as banks or insurance companies. But now With the advent of online trading systems Small investors like us Can invest through the online trading system of the brokerage company That acts as an intermediary to send buy / sell orders to the foreign exchange market as soon as it receives orders.
And with the nature of Forex that is changing in prices very quickly. Has high liquidity You can also use leverage to generate high profits with low investment. It can be said that investing in Forex is suitable for high-risk investors. Focus on making profit in a short time, making quick trading decisions.
Forex trading programs
In Forex trading, the popular program called “Meta Trader” is a program similar to the Streaming pro we use for trading stocks, but Meta Trader is designed especially for Forex trading because it has Features that help us make more efficient trading decisions. We can download Meta Trader program to be installed for free on both computers and mobile phones in both Android and IOS systems.
Also in Meta Trader there is an Expert Advisors (EA) system, also known as Bot, which is an automated trading aid program. That can determine whether to buy – sell at any time Or choose the investment that is suitable for yourself through an automated system as well So you don’t have to sit and stare at the screen all the time Which currently has many bot developers to sell Including some that have been developed for us to use for free as well
Another highlight of the Forex market is currency trading 24 hours a day, 5 working days Monday to Friday. It will be closed only on Saturday and Sunday. This means that the Forex market will open from 4am on Monday morning. Until four in the morning on a Saturday morning ever. It will be open for the money market of that country that indicates that when a market is closed. There will be another open market that circulates throughout the day.
Opening and closing times of the major currency markets according to the time in Thailand.
Australian market opening time 05:00, closing time 13:00
Japanese market opening time 07:00, closing time 14:00
European market opening time 13:00, closing time 21:00
British market opening time 14:00, closing time 22:00
American market opening time 19.00 Closing time 03:00