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FOREX TEACHINGS

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What is Forex

Forex is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another for a variety of reasons, usually for commerce, trading, or tourism. According to a 2019 triennial report from the Bank for International Settlements (a global bank for national central banks), the daily trading volume for forex reached $6.6 trillion in April 2019.

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Forex Terminology

The best way to get started on the forex journey is to learn its language. Here are a few terms to get you started: Forex account: A forex account is used to make currency trades. Depending on the lot size, there can be three types of forex accounts:

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Understanding Candlestick

Candlestick charts originated in Japan over 100 years before the West developed the bar and point-and-figure charts. In the 1700s, a Japanese man named Homma discovered that, while there was a link between price and the supply and demand of rice, the markets were strongly influenced by the emotions of traders.

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  • 3rd Floor Savannah Center for Diplomacy, Democarcy & Development Plot 239 P.O.W Mafemi Crescent Utako Abuja
  • Phone: +2348065424453, +2348144241060, +2348083503974, +2347030923585
  • Email: info@afosonforex.com
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