What's the easiest way to buy and sell foreign currencies?

>>1576570
Hit the buy or sell button

>>1576607

Where, tho?

>>1576642

http://lmgtfy.com/?q=forex+broker

>>1576648

Hey, thanks.

So, what forex trading site would you guys recommend? I'm an absolute beginner at this.

>>1576658
>>1576663

I used to use FXGlory, but a lot of people are wary of them because they aren't based in the US so they aren't as regulated. However, with the option of 3000:1 leverage, you can make a lot of money really quickly (and also lose your entire capital really quickly).

For the actual trading platform, you're going to want to look at downloading MetaTrader 4 (MT5 sucks ass). It's free, so it's lacking in a lot of features, but it's perfect for retail traders such as yourself.

I'm going to warn you, though, the forex market is one of the largest markets in the world, much larger than the US stock market. It has trillions of dollars in daily volume. You will be competing against giant financial institutions, sophisticated algorithms, and the smartest minds in finance. I'm not trying to discourage you, but that's the field you'll be playing in.

In my opinion, it's much easier to value a company (or a group of related companies) than it is to value an entire country. Disregard most forms of technical """analysis""" that people will try to shill outside of price levels and moving averages. You cannot reliably predict the the movement of currencies based solely on when two colored lines intersect each other. The majority of new traders believe that shit actually works, and the majority of new traders lose money. Your primary focus should be on fundamental analysis and news, with technical analysis for determining probable entry and exit points.

To reiterate: I'm not trying to insult you, but the odds are stacked heavily against you. It's very probable that you will lose all of your money. The statistics say that 90-95% of new traders blow up and quit. There are much easier ways to make money.

If you have any questions, I'd be happy to answer.

>>1576691

Thank you for the information. Honestly, I read that asian currencies are going up in value and just want to invest in some. Is this a good idea?

What the guy with the long answer said.

Investing in currency is a null sum game. No value is created in the currency market, so every $ you earn is literally someone elses loss.

I just use the forex.com platform. What is it missing from Meta Trader? Also anyone know how to get something that does three line break charts for free?

>>1576702

It's never a good idea to trade just based on what you hear. Now that you have heard these rumors, it's important to ask yourself why people are saying this. Perform your own analysis on the currencies you're looking at (with the rumors in mind) and try to assess their validity. Wall Street likes to have people convinced that only they can perform analyses on all the asset classes, but an intelligent individual can develop some profound ideas, even though they don't have as much of an edge in the market (as long as they don't become trapped by stupid memes).

It's also important to consider your basis for comparison. Are these people saying that asian currencies are rising in value relative to the US dollar? Or to the Euro? Or to some other entity? You have to find out what future prospects are likely to cause these currencies to rise.

Think rationally, and don't trade on "gut instincts" or rumors. At best, retail forex is speculation, and at worst, retail forex is gambling. You want to educate yourself and dig as deeply as possible so you can lean more towards the speculation side of the spectrum.

Think about the VALUE of the countries. If you go long ("buy") Asian currencies, you are essentially saying that you expect these currencies to increase relative to some benchmark. Why do you believe this will occur? Additionally, why do you believe that you know better than the trillions of dollars flowing into the market? It's quite possible that the exchange rate already reflects the country's expected future value. These are important considerations to make.

The last forex trade I made was in late June, when I shorted GBP during Brexit. I was short at pretty much the exact peak (around 1.47-1.48) and got out way too fucking early. These are the kinds of opportunities you want to look for. Fundamental analysis all the way, baby.

Also, don't scalp. That is straight up degenerate gambling.