ما هو الفوركس؟ وكيف تبدأ في تداول عقود على الفروقات؟

What is forex trading? This question opens the door to the vast world of currency market trading, where traders buy or sell different currencies with the aim of making a profit. Forex trading operates on a global scale, involving a diverse community of participants ranging from individuals to massive institutions, all contributing to the market's significance and high liquidity. For those wondering how forex trading works, it's essential to grasp the concept of trading CFDs, or Contracts for Difference. This popular form of trading allows traders to speculate on price movements without owning the underlying assets, offering both opportunities and risks in the dynamic forex marketplace. In this guide, we explore the intricacies of forex and guide you through the initial steps to start trading CFDs, ensuring you have a solid foundation for navigating the currency markets. So whether you are a novice trader just starting out, or an experienced trader looking to freshen up your knowledge of this industry, this guide is for you.

Understanding the basics of forex

Forex, short for foreign exchange, is a global marketplace where individuals, companies, and financial institutions exchange currencies at varying rates. It is the world's largest financial market, where over $7.5 trillion worth of currency trading happens every day, according to the 2022 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity. The primary function of forex is to facilitate international trade and investment by allowing businesses to convert one currency to another. For example, an American company can use forex to exchange US dollars for euros to pay a European supplier. Currency market trading is essential for supporting global commerce, enabling growth of the economy, and fostering cross-border investments.

The importance of forex reserves in global economic stability

Forex reserves play a pivotal role in ensuring global economic steadiness:

• They act as a financial safeguard, allowing countries to support their currency in the volatile forex market.
• These reserves help manage inflation rates by providing the means to influence currency value through interventions.
• Adequate forex reserves are instrumental in meeting international financial obligations, such as debt payments or forex transactions when trading.

A healthy level of forex reserves is crucial for sustaining investor confidence. It acts as a protective barrier against potential economic crises, ensuring that a country has the necessary funds to defend its currency if needed. The presence of substantial forex reserves is a testament to a nation's ability to withstand financial shocks and maintain a stable economic environment, which is indispensable for prolonged and robust economic growth.

What are forex pairs? 

Within the forex market, currencies are traded in pairs, which reflect the value of one currency relative to another. The first currency listed in the pair is the base currency, and the second currency is the quote currency. Pairs allow traders to speculate on the strength or weakness of one currency against another. For example, if a trader believes the euro will increase in value against the US dollar, they would buy the EURUSD currency pair, where the EURO is the base currency and the USD is the quote currency. Conversely, if they think the euro will weaken, they would sell the same pair. Understanding pairs is fundamental to engaging in currency market trading.

Major and minor currency pairs

In forex trading, not all pairs are created equal. The most traded and liquid pairs are known as major pairs and typically involve the US dollar (USD). However, there is another category of pairs that do not include the USD and are known as minor or cross-currency pairs. These pairs are less frequently traded than the majors but still hold significance in the global forex trading markets.

Major currency pairs

Commonly traded minor pairs

• EURGBP - euro/British pound
• EURAUD - euro/Australian dollar
• GBPJPY - British pound/Japanese yen
• CHFJPY - Swiss franc/Japanese yen
• NZDJPY - New Zealand dollar/Japanese yen
• GBPCAD - British pound/Canadian dollar
• AUDNZD - Australian dollar/New Zealand dollar

These minor pairs offer traders a variety of opportunities to capitalize on the fluctuations between economies that are not directly tied to the US dollar. For example, EURGBP represents the relationship between the economies of the European Union and the United Kingdom. The cross-currency pairs can be influenced by factors that are unique to the individual countries involved and their relationships with each other rather than with the United States. As such, they can provide a diversified trading approach that can potentially reduce exposure to USD-specific economic events and policy changes.

While trading volume is lower for minor pairs compared to the majors, some market participants prefer them for their potential to exhibit larger price swings or to take advantage of specific geopolitical or economic developments affecting those countries. It is important to note that due to their lower liquidity, minor pairs may exhibit wider spreads and may be more susceptible to slippage than major pairs.

Operating times: forex market hours and forex calendar 

Navigating the forex market requires a clear understanding of its operating hours and key events that can impact currency values. In this section, we discuss when is the forex market open, the forex market hours, explaining their significance and how they can influence your trading strategies. We'll also guide you on how to use the forex calendar effectively to anticipate and plan for major economic announcements. We also tackle the 24-hours-a-day nature of forex trading and pinpoint the most opportune moments to enter the market.

Forex market hours and their impact on trading strategies

Forex market hours can make or break your trading strategies, depending on when you decide to enter or exit your trades. Just because the market is open 24 hours a day doesn’t mean you should trade at all hours of the day. Understanding these hours and their effects on the market is crucial to developing a forex trading strategy that aligns with periods of high liquidity and potential profit opportunities. Here are three key factors to keep in mind:

• Forex trading sessions
• Trading overlap periods
• Forex market volatility

Forex trading sessions

The forex market is global, operating across four major trading sessions — Sydney, Tokyo, London, and New York.

Trading overlap periods

Some of the most popular trading times are during overlaps of these sessions, particularly the London-New York overlap.

Forex market volatility

The time of day can greatly affect liquidity and volatility, as the opening and closing of these financial markets can lead to sharp price movements.

Forex calendar and planning trades around economic events

The economic calendar, sometimes referred to as a ‘forex calendar’, is a vital tool for any trader. It helps you stay ahead of important economic news that can cause significant price movements. By integrating the forex calendar into your trading plan, you can avoid being caught off guard by market-moving events and position yourself to capitalize on the resulting volatility. Keep these points in mind:

24-hour forex market nature and best times to trade

The forex market's 24-hour cycle means it's always business hours somewhere in the world. Identifying the times when the market is most active can help you pinpoint favorable opportunities for entering and exiting trades effectively. 

Starting with forex CFD trading

In conclusion, forex trading is a dynamic and potentially rewarding financial endeavor. Beginners looking to embark on this speculative-trading journey should understand the fundamentals of pairs of currencies, leverage, and the factors that influence currency values. It is imperative to approach forex CFD trading with a solid educational foundation, a well-thought-out strategy, and a clear risk management plan to effectively navigate the volatility and leverage that characterize these and other markets.

Additionally, prudent practice through resources like Exness’ Demo Trading account cannot be overstated. These demo accounts offer a risk-free environment that mirrors live market conditions, allowing new traders to buy or sell assets in a simulated environment, hone their skills, test strategies, and build confidence without the immediate financial exposure. By using such invaluable tools, aspiring traders can better prepare themselves for the realities of live trading. With dedication and discipline, navigating the forex CFD market can become a structured and calculated process, paving the way for a well-informed trading experience.

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