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| Put Money Across Forex - Forex Trading In Tanzania 2019 |
Forex Trading is a large-scale turnover for a day than any business in the world. It is estimated that on average one day forex trading reaches a turnover of more than 4 trillion dollars (which a brain drum is about 8000 trillion).
This is even two times the business of the New York stock exchange for the day that reaches itself to more than 70 billion dollars. This is obviously the forex market is the largest market in the world of financial markets. Such a large volume of foreign trade is clear that every day there is enormous wealth developed by this business. And so many people are benefiting from it. What is foreign trade? For quite a simple foreign exchange enterprise is buying money for a particular country and then selling money to other countries in order to make a pragmatic pricing for profit.
For example, I go to the bureau of change where I give 2200 shillings and buy one dollar for the purpose that it goes after one month the dollar will rise and sell 2450 and so I have gained benefits. There we say you are involved in foreign trade.
The main reason for attracting people into this business is that the value of a country's currency has a tendency to rise or fall in the currency of other countries depending on the many factors such as the state of the economy and the geography of the future.
The main purpose of this business is to use the rise and fall of some money to benefit. How to do this business In foreign currency business there is something called a currency pair here you are talking about that money you want to spend on making your prognosis.
The popular Pair in the forex market is like EUR / USD, GBP / USD, USD / CHF and USD / JPY these pair containing USD called major pair. Before going to one for FOREX sales is done online. That is, there is a forex brokers whose person can join with your broker then you make a deposit that you are your capital. After that, online there is a platform on a program that is managed by your broker becomes a list of foreign currency pair you will be buying or selling your money.
But the main basis is the same model: if a person has $ 10,000 and then wants to make a trade for buying EURO. Entering the online platform will see the price of buying EURO ie EURO / USD = 1.23 meaning one EURO is sold for 1.23 dollars. Like $ 10,000 for the price of 1.23 manages to buy EURO (10000 / 1.23) = 8130.08 So it has been used $ 10,000 which has purchased EURO 8,130.
And the investor has done so much for the prediction that the price of EURO against the dollar will rise. If its prediction becomes true and the price of EURO for the dollar rises to EURO / USD = 1.37 means it now sells again EURO 8,130.08 will receive USD (8,130.08. -1.37) = 11,138.21 when the money he had as capital is $ 10,000 but due to its trader has made a profit of $ 1,138.21 which will be reflected on computer systems.
This is how the business is done. But because the world is now a village, this good news can do even on your mobile phone. I just touched on why my goal is to talk about this business in Tanzania's environment and how you can make wealth. Urban children say long money. Except for those who also want to gain experience and make it as our colleagues continue then there are these FOREX broker you can have on: FXCM, eTORO, DUKASCOPY and XM.
These are reliable brakes and all have until mobile apps so you can watch them and learn. Know the first before doing this business; it is better to have an understanding of what is leading to the value of the country's money falling or rising against the finances of other countries. It is just like other commodities, for example in the farming farmer can predict the high price of its products because the rain was scarce and the yield is less so the price of the market in the market is low and the demand has not changed is the price will be great for its products, so he will be right for his prediction that he did before.
Thus, in foreign exchange trading you can specify a decline or rise in value of your money against other currencies to determine if it is time to buy or sell foreign currency. If the investor is required to know the general reasons for the fall or the rising value of the country's currency against other countries.
The reasons are as follows and its relationship to the value of money.
i) Inflation (inflation), inflation as small as the value of money is high because the money is growing and the ability to buy because the price is low. on the contrary it is precisely that if inflation is growing it is against the countries we do business as they mean inflation remains small it means our money will lose value on their money.
For our country here because we spend so much on the dollar it means that our theoretical trading partner is the USA who they inflation them is less than 2%. It is therefore that as far as inflation is rising it means we should expect a decline in the value of our money against USD.
By using some of the statistics you will see how some inflation may be somewhat less likely to be less than the value of our money. Inflation. Monthly weighted Average $ price If you look at the chart carefully it is that inflation has a direct connection (+) and a rise in dollar prices.
Although it is possible that it is not the inflation has led to it but the relationship is even though it is a little. For FOREX investor information as these are important and you must understand quickly the bureau of statistics providing estimates about inflation then it will allow you at least to get a picture of what can be experienced by upcoming contractors so you can make your prognosis well.
ii) Definitions in business, this is most we know that our country is importing more than the export. What happens to our shilling gets great pressure because the tourism we rely on will bring us the dollar when it was a breakthrough.
And at the same time we have more imported results are that too many shillings chasing too little dollars? and leading to the pressure that raised the price of the dollar at the market. Now as an entrepreneur when you get the initial information that for example the export is increasing or the tourism has been broken.
Directly your prognosis will tell you that after a certain period the price of the dollar will rise. And if you bought it before then you would benefit. Europe and America as import markets are increasingly becoming shocks. Because investors are doing the information they hear. So the prognosis is very important.
iii) The national debt, this is heard every day about the debate of the Greek debts and the turmoil of each EURO currency. It is that the country with high debt will lead to inflation because the government will be willing to print more money to pay off debts.
Something that will increase the amount of money in circulation and will lead to inflation and currency fluctuations. For those who read History like me, after WWI Germany was ordered to pay War reparations at the Versailles treaty.
What happened at the time led by Weimer Germany decided to make money to be able to pay off debts of war reparations but the result led to inflation in the world and 1923 1USD = 4,210,500 million Gr.Marks. so you can predict that our shillings may continue to deteriorate. Hivo for example you can use your prognosis to buy a lot of dollars so that later you can sell more expensive and make profits.
iv) The country's economic performance, good economic growth is consistent with the value of the country's money. Countries such as Botswana or Rwanda are very strong because their economies are stable and attracting foreign investment that is also a levy that has become a stable currency. As an investor on FOREX you must know how the country's economy is going.
In order to make a good prediction in the future, what will happen. In Tanzania, you will have to play away from the bank's major bank publications.
v) The peace of nch i, this is clear if you have a chaos it should definitely be a dollar. Hivo is also not bad if you predict the situation of the country in peace.
If you feel the peace will disappear, you may begin to buy more foreign currency because later you should benefit. The above factors and many others are things that if you want to get involved in this FOREX Trading Dashboard you must be aware of what the future will be like. model of currency.
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