Trading Forex Sebagai Penghasilan Utama
Trading Forex Sebagai Penghasilan Utama – Forex trading at the moment can be considered as a promising area of income. Of course, it is not necessary to have a large enough capital to trade forex. Also, it is not too complicated to use. For information, it is often found that the forex trading players are those who have been in the stock trading world for a long time. So what exactly is the meaning of forex trading? And how does forex trading work itself? A full explanation will be provided below.
Right now, many people might say that they can get rich quickly by playing forex trading. However, this does not necessarily come with a deep understanding of the meaning of currency trading itself, in terms of its features, benefits and risks. In the following explanation, we will discuss the basic understanding of forex trading that everyone should know. So what is forex trading?
Trading Forex Sebagai Penghasilan Utama
Forex trading, also known as forex trading, is the trading of currencies of different countries with the aim of making a profit. In this case, forex itself stands for Foreign Exchange or it can be called currencies. An example of forex trading is buying Euro (the main European currency), and simultaneously selling USD (US currency), which can be abbreviated as EUR or USD. In the imagination of ordinary people, the concept of currency trading is more than the activity of exchanging money at a money changer, that is, buying and selling foreign currencies manually through money changers. In fact, forex trading is really different from manual transactions as in Money Changer.
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Another term you need to know is merchant. What does merchants mean? A trader or Forex trader is a term for people who trade currencies who trade the currencies of different countries.
Please note that the purpose of someone buying and selling money on Money Changer is due to the need to exchange currency for transactions in different countries, so that there is a physical exchange of money. Meanwhile, online forex trading is done with the sole aim of making a profit. It should also be understood that forex trading is a business, an investment, and can be considered a profession.
On an international scale, currency trading or currency trading is often carried out by various parties, from governments, central banks, multinational companies to certain individuals with large sums of assets or major players. Currency buying and selling transactions that occur between different parties do not take place in a market with a physical building, but in an invisible network called the “forex market.”
Along with technological developments, forex trading can reach a wider scope. Through the Internet, now anyone, anytime, anywhere can trade forex. Today, everyone can trade forex. You can also easily trade forex online with as little as $10.
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In its history, forex trading in the late 90s, only rich people, large financial institutions such as central banks, private and government banks, as well as large trading companies such as Apple or Toyota did this business. They generally carry out currency transactions for trading, debt repayment, hedging or investment purposes. The capital required is also quite large, and not everyone can do a foreign exchange business.
After the development of the Internet worldwide in the late 90s, the foreign exchange market can finally be followed by almost everyone, from businessmen to housewives, parents and young people. Brokers also started organizing forex so that everyone could trade it at retail. So now everyone from money changers, banks and motorcycle taxi drivers out there can join the Forex market.
In the history of human civilization, it should be noted that the exchange of goods between individuals began with the barter system. For example, a person wants a goat, then he meets other people who are selling two baskets of apples, then they agree to exchange their products with each other, then a transaction can be made. Over time, however, the barter was deemed insufficient to meet daily needs. The main problem with the barter system is what happens if people are not found whose needs and supplies of goods are bartered?
To overcome the disadvantages of exchange, payment method or exchange method takes various forms. In this period, mankind used shells, beads, rare stones and precious metals as mediators. However, it should be noted that each region can implement its own “currency” based on what it deems most valuable, recognized by the community, and portable (easy to take on location any).
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Because each region of the world uses a different “currency”, merchants transacting between regions or shipping between islands and across continents often need a universally accepted currency exchange reference. In many places it is agreed to use precious metals such as Silver or Gold as intermediaries.
The kingdoms established at that time began to print their own “money” by determining the content of certain precious metals in it. After that, the exchange is based on the rate. This is the beginning of currency exchange in ancient times.
Since when is this currency exchange done? According to Byzantine records (around the 4th century BC) it shows that the kingdom monopolized money exchange. Then papyrus records also show that the currency was exchanged in the ancient Egyptian era. Other regions have their own records, from Australia, Indonesia, China, India to Europe. So this is not something that suddenly appeared in modern times.
Money exchange has been going on since ancient times, but the history of modern currency trading as it is today only started after the Second World War. For information, there was a lot of chaos and economic crisis at the end of the Second World War, so the governments of the allied countries felt the need for a system that could later unify the world economy. He then established the “Bretton Woods System” to make this dream a reality.
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In the Bretton Woods System, born in the city of Bretton Woods, New Hampshire, United States of America in 1944, there were official rules for the first time to regulate monetary relations between countries. The United States, which at the time had two-thirds of the world’s gold reserves, insisted that the system be based on gold and the US dollar. Finally, this system requires all countries involved to peg the value of their currencies to gold and the US dollar. However, it did not last long.
On August 15, 1971, the United States unilaterally separated its currency from gold, automatically ending the Bretton Woods system. The value of the dollar is no longer derived from the gold reserves held, but only from the promises of the US government. This action certainly makes the US dollar a reserve currency for many countries around the world. At that time, exchange rates between currencies were no longer determined by default, but by following a simple economic system, namely demand and supply. A new phase was born in the history of currency trading, namely the period of floating exchange rates (floating exchange rate system).
After that, the main transactions of buying and selling currencies were carried out by banks, and other parties, such as governments and companies, had to contact banks as intermediaries. Businesses in need can contact the bank by phone, then the bank records the price at which currency is bought or sold. From this, the interbank market is created as an over-the-counter network where currencies are traded and exchange rates change dynamically.
The development of the global economy between the 1980s and 1990s brought a new development to the history of currency trading where people could participate in the search for a world that was previously dominated by large banks and large-scale companies. Transactions through bank intermediaries no longer need to be initiated with a telephone contact, but only with instructions via the Internet. In fact, a trading platform was created that allows anyone to see the “price” (currency exchange rates) and trade currencies in real time.
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This technological development is a crucial point in the history of forex trading, because it accelerated the volume of trading in the forex market until it became the largest financial market in the world with daily liquidity at 5.3 trillion US dollars in 2013. Also at this time, you can find out which currencies are widely traded and which are trying to take advantage of strengthening or weakening currency exchange rates.
So how can you as “ordinary people” benefit from this currency exchange? There are now many “forex brokers” who cater forex trading to the small-scale public. In contrast to the interbank market which has standard trading volumes (US$100,000 per unit), these forex brokers enable the public to trade currencies even for as little as a few tens or hundreds of dollars. Even more sophisticated in today’s mobile age, forex trading can be done via laptop, tablet, Android or iPhone. As long as there is electricity and an internet connection, you can “jump into the forex market” and profit from it, as long as you know how to play forex trading.
Forex trading involves the simultaneous purchase of one currency and sale of another. The currency pairs are then traded simultaneously. For example, EUR/USD = 1.23700.
The currency on the left (in this case, the euro) is the base currency and the currency on the other side is called the quote currency. The above notation shows that 1 unit of base currency is equal to 1.23700 of the quote currency (1 euro = 1.23700 USD).
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That way, you have to pay 1.23700 USD if you want to buy 1 Euro. On the other hand, if you want to sell 1 euro of your property, you will get 1.23700 USD.
Forex trading is a foreign currency transaction that is increasingly being chosen as a way to make investments. Forex trading involves certain currency pairs that are selected and can be traded according to certain conditions to achieve maximum results.
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