Online FOREX trading is often referred to as Online FX Trading.
So just to cover some basics. What Is Forex – or FX – anyway?
The fx trading market is sort of a room where international currencies are traded 24/7. In international commerce, FX trading is important because businesses need to exchange money all day long. I buy something from Norway and pay in Canadian Dollars. When I go and pay – the bank will convert my CAD to NOK the instant I wire the money at the rate at that moment. Same when you travel. You can’t pay with CAD in Norway. You need to buy NOK using your CAD. This is the basis of FX trading.
FX Trading Signals
You would use the same signals as otherwise mentioned on this site. FX Trading signals can be either TREND BASED – these work best when the FX market is trending. The other FX signal method is RANGE BASED. These daily FX signals work best when the market is ranging between high and lows. It is then important to be able to recognize in which state the FX Market is when picking a FX signal to use.
Some FX signal providers send them daily, other more frequent. FX traders should not depend on the signals exclusively, but instead using them as guidance. Taking other clues into consideration. Again, know your signal provider’s strategy. Trend or range based. Then analyze the market and make your decisions.
You can also make your own decisions, and use the trading signal provider’s analysis to confirm your own analysis of the FX market at that particular time.
