To anyone out there I just have a very basic question about forex how does it work? (1) Can you pair the currency of choice or do you have to pick from a certain amount of pairs.
(2) Also do you have to predict two markets...when I trade commodities it's very basic I think oil will increase I buy a futures contract...it's that simple. With forex it's different I'm pairing two different currency so am I trying to predict two different markets.
Let's say I pair the dollar with the pound. I think the dollar will go up I think the pound will go down. I'm pairing two markets...do they have to move inversely to each other?
(2) Also do you have to predict two markets...when I trade commodities it's very basic I think oil will increase I buy a futures contract...it's that simple. With forex it's different I'm pairing two different currency so am I trying to predict two different markets.
Let's say I pair the dollar with the pound. I think the dollar will go up I think the pound will go down. I'm pairing two markets...do they have to move inversely to each other?