How To Make Money Trading Forex
Forex is the knowledge and business of making money through exchanging foreign currencies. Forex is not a new business and its history is as old as the history of money.
There are people who have been making money through Forex from many years ago. Fortunately, with the help of computer and internet, Forex trading has become much easier. You can sit at your personal computer and trade from home without having to make any phone call or referring to any bank.
How is it possible?
There are broker companies that enable you to buy and sell different currencies through the Internet and some simple softwares. For any trade that you make, you pay a small commission to the broker company that you are trading through it.
You need to find a good, reliable and well-known broker company and sign up for an account with it. Then you have to fund your account. You use the money you have in your account to trade. Any profit that you make, will be added to your account and vise versa. Then you can withdraw the money you have made.
What currencies can you trade?
In Forex, you deal with currency pairs. There are four main currency pairs: British Pound and USD (GBP/USD), Euro and USD (EUR/USD), USD and Japanese Yen (USD/JPY), USD and Swiss Frank (USD/CHF).
In each currency pair, the first currency works as the commodity and the second one works as the money. For example when you choose the GBP/USD to trade, if you buy, you buy British Pound against USD and if you sell, you sell British Pound against USD. It doesn’t matter what currency you have in your account. The trading software makes the exchanges automatically.
Fundamental analysis has a long term usage but good traders can predict the sudden changes that happen after releasing an important news about economic situation of an important country. For example when the news says that economic situation of USA is improved for 5% in comparison to the last month, USD will become stronger and people start buying it. So the value of USD will go up because of the sudden increase of demand. If you know the effect of the news on the price, you can take the proper position and make money. Of course there are two sides in this story which means if you take the wrong position, you will lose.
1. Skills based questions
These job interview questions are related to specific job skills outlined in
essential criteria. Candidates are asked to give examples of their work, or
outline their duties and performance in key roles.
2.Knowledge based questions
Many jobs have a required knowledge base. Interview questions are used to find
out the depth of knowledge, and to check and confirm candidates have the essential
information required to do the work involved.
3. Technical questions
These are a different type of knowledge based job interview questions, and they
relate to the technical issues of the position. In some job interviews, a person
on the interview panel is appointed to ask these questions, and give expert
evaluation of answers to the panel.
4.Problem solving questions
· The problem solving job interview questions are now standard practice.
Problem solving questions are used to define skill levels and the ability to
deal with difficulties.
· Experience related questions This is a range of job interview questions
designed to test prior experience across the range of job skills contained in
the position. They include additional questions to clarify the scope of candidates?
experience. They also deal with issues related to the job, particularly where
levels of experience relate directly to the complexity of the work.
5.Interpersonal skills questions
These are job interview questions which explore workplace relationships, team
roles, leadership, and other personal characteristics of candidates. Questions
can range from dealing with stress to contributing to a team.
6.Assessing job interview questions
Interview assessments use the merit principle to decide successful applicants
based on their answers to the job interview questions. A panel discussion and
consensus, or a formal evaluation process using an 'evaluation grid', (a step
by step analysis of answers) is conducted.
7.The selection process
Interviewers select the candidate who meets all job criteria to an acceptable
standard. The panel then makes a recommendation for appointment to management.