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Forex basics
Foreign exchange (also known as forex or simply FX) trading is the practice of buying and selling of
one currency, according to its established value against another currency.
Say for example, your currency is in Euro and you buy US dollars while its value is weak, and speculating that sooner or later its value will rise and by reselling it, you would have made some profit.
The average daily trade of the global forex market is currently up to the astounding amount of US$4 trillion.
What makes forex trading unique is, eventhough profit margins are low, profit can be high all the same due to the market trading in volumes, meaning trading in huge amounts.
Continue...
Forex prices
Prices are the first and most important thing to focus on when trading in a market, whichever it is: in FX trading market the direction in which prices move represents the boundary line between loss and profit.
Traders have to observe carefully charts and graphs displaying prices' changes: they are normally updated every 10 seconds and most of traders watch price lists with apprehension several hours a day.
There is no way to misunderstand how the market is moving: rising prices are displayed in green, falling ones in red.
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Forex broker
So you’ve decided to join the crowd in the Forex trading market, what’s next?
It could be choosing a forex broker, and decide whether to trust your business to the forex broker next door or go for brokers on line. And what do these forex brokers do?
Simple, these individuals or companies buy and sell your currencies according to your wishes.
Whichever way you choose to invest, the important thing is to do business with the right people.
Continue...
Pips
Pip is an acronym and stands for Percentage In Point and pips are also called just points.
They represent the smallest unit indicating prices' fluctuations in forex trading.
Currencies' prices are usually quoted to the fourth decimal point with the exception of the Japanese Yen (JPY), that is quoted only to the second decimal point.
In other words we can say that pips are the smallest unit of a currency's price and they are the last decimal points in a pair's quote or in an exchange rate.
Continue...
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Say for example, your currency is in Euro and you buy US dollars while its value is weak, and speculating that sooner or later its value will rise and by reselling it, you would have made some profit.
The average daily trade of the global forex market is currently up to the astounding amount of US$4 trillion.
What makes forex trading unique is, eventhough profit margins are low, profit can be high all the same due to the market trading in volumes, meaning trading in huge amounts.
Continue...
Forex prices
|
Traders have to observe carefully charts and graphs displaying prices' changes: they are normally updated every 10 seconds and most of traders watch price lists with apprehension several hours a day.
There is no way to misunderstand how the market is moving: rising prices are displayed in green, falling ones in red.
Continue...
Forex broker
|
It could be choosing a forex broker, and decide whether to trust your business to the forex broker next door or go for brokers on line. And what do these forex brokers do?
Simple, these individuals or companies buy and sell your currencies according to your wishes.
Whichever way you choose to invest, the important thing is to do business with the right people.
Continue...
Pips
|
They represent the smallest unit indicating prices' fluctuations in forex trading.
Currencies' prices are usually quoted to the fourth decimal point with the exception of the Japanese Yen (JPY), that is quoted only to the second decimal point.
In other words we can say that pips are the smallest unit of a currency's price and they are the last decimal points in a pair's quote or in an exchange rate.
Continue...