Having trouble log in into blogger account lately. Forex is not going anyway at the moment. Up and down it is still at the same level.
Currently I am watching for a certain level in GbpUsd. 1.4650 is the level I am waiting for. Believe it or not, I have not traded this week. Today GU nearly hit my stop order. I am still waiting
Thursday, May 27, 2010
Wednesday, May 26, 2010
Foreign exchange market is different from the stock market
The foreign exchange market is also known as the FX market, and the forex market. Trading that takes place between two counties with different currencies is the basis for the fx market and the background of the trading in this market. The forex market is over thirty years old, established in the early 1970’s. The forex market is one that is not based on any one business or investing in any one business, but the trading and selling of currencies.
The difference between the stock market and the forex market is the vast trading that occurs on the forex market. There is millions and millions that are traded daily on the forex market, almost two trillion dollars is traded daily. The amount is much higher than the money traded on the daily stock market of any country. The forex market is one that involves governments, banks, financial institutions and those similar types of institutions from other countries. The
What is traded, bought and sold on the forex market is something that can easily be liquidated, meaning it can be turned back to cash fast, or often times it is actually going to be cash. From one currency to another, the availability of cash in the forex market is something that can happen fast for any investor from any country.
The difference between the stock market and the forex market is that the forex market is global, worldwide. The stock market is something that takes place only within a country. The stock market is based on businesses and products that are within a country, and the forex market takes that a step further to include any country.
The stock market has set business hours. Generally, this is going to follow the business day, and will be closed on banking holidays and weekends. The forex market is one that is open generally twenty four hours a day because the vast number of countries that are involved in forex trading, buying and selling are located in so many different times zones. As one market is opening, another countries market is closing. This is the continual method of how the forex market trading occurs.
The stock market in any country is going to be based on only that countries currency, say for example the Japanese yen, and the Japanese stock market, or the United States stock market and the dollar. However, in the forex market, you are involved with many types of countries, and many currencies. You will find references to a variety of currencies, and this is a big difference between the stock market and the forex market.
The difference between the stock market and the forex market is the vast trading that occurs on the forex market. There is millions and millions that are traded daily on the forex market, almost two trillion dollars is traded daily. The amount is much higher than the money traded on the daily stock market of any country. The forex market is one that involves governments, banks, financial institutions and those similar types of institutions from other countries. The
What is traded, bought and sold on the forex market is something that can easily be liquidated, meaning it can be turned back to cash fast, or often times it is actually going to be cash. From one currency to another, the availability of cash in the forex market is something that can happen fast for any investor from any country.
The difference between the stock market and the forex market is that the forex market is global, worldwide. The stock market is something that takes place only within a country. The stock market is based on businesses and products that are within a country, and the forex market takes that a step further to include any country.
The stock market has set business hours. Generally, this is going to follow the business day, and will be closed on banking holidays and weekends. The forex market is one that is open generally twenty four hours a day because the vast number of countries that are involved in forex trading, buying and selling are located in so many different times zones. As one market is opening, another countries market is closing. This is the continual method of how the forex market trading occurs.
The stock market in any country is going to be based on only that countries currency, say for example the Japanese yen, and the Japanese stock market, or the United States stock market and the dollar. However, in the forex market, you are involved with many types of countries, and many currencies. You will find references to a variety of currencies, and this is a big difference between the stock market and the forex market.
Forex trading, where do customers go?
Forex trading uses currency and stock markets from a variety of countries to create a trading market where millions and millions are traded and exchanged daily. This market is similar to the stock market, as people buy and sell, but the market and the over all results are much much larger. Those involved in the forex trading markets include the Deutsche bank, UBS, Citigroup, and others such as HSBC, Braclays, Merrill Lynch, JP Morgan Chase, and still others such as Goldman Sachs, ABN Amro, Morgan Stanley, and so on.
To get involved in the forex trading markets, contacting any of these large broker assistance firms is going to be in your best interest. Sure, anyone can get involved in the forex market, but it does take time to learn about what is hot, what is not, and just where you should place your money at this time.
International banks are the markets biggest users on the forex markets, as they have millions of dollars to invest daily, to earn interest and this is just one method of how banks make money on the money you save in their bank. Think about the bank that you deal with all the time. Do you know if you can go there, and obtain money from ‘another’ country if you are heading out on vacation? If not, that bank is most likely not involved in forex trading. If you have to know if your bank is involved in forex trading, you can ask any manager or you can look at the financial information sheets that banks are to report to the public on a quarterly baiss.
If you are new to the forex market, it is important to realize there is no one person or one bank that controls all the trades that occur in the forex markets. Various currencies are traded, and will originate from anywhere in the world. The currencies that are most often traded in the forex markets include those of the US dollar, the Eurozone euro, the Japanese yen, the British pound sterling and the Swiss franc as well as the Australian dollar. These are just a few of the currencies that are traded on the forex markets, with many other counties currencies to be included as well. The main trading centers for the forex trading markets are located in Tokyo, New York and in London but with other smaller trading centers located thought out the world as well.
To get involved in the forex trading markets, contacting any of these large broker assistance firms is going to be in your best interest. Sure, anyone can get involved in the forex market, but it does take time to learn about what is hot, what is not, and just where you should place your money at this time.
International banks are the markets biggest users on the forex markets, as they have millions of dollars to invest daily, to earn interest and this is just one method of how banks make money on the money you save in their bank. Think about the bank that you deal with all the time. Do you know if you can go there, and obtain money from ‘another’ country if you are heading out on vacation? If not, that bank is most likely not involved in forex trading. If you have to know if your bank is involved in forex trading, you can ask any manager or you can look at the financial information sheets that banks are to report to the public on a quarterly baiss.
If you are new to the forex market, it is important to realize there is no one person or one bank that controls all the trades that occur in the forex markets. Various currencies are traded, and will originate from anywhere in the world. The currencies that are most often traded in the forex markets include those of the US dollar, the Eurozone euro, the Japanese yen, the British pound sterling and the Swiss franc as well as the Australian dollar. These are just a few of the currencies that are traded on the forex markets, with many other counties currencies to be included as well. The main trading centers for the forex trading markets are located in Tokyo, New York and in London but with other smaller trading centers located thought out the world as well.
Tuesday, May 25, 2010
Investing in Forex
Investing in foreign currencies is a relatively new avenue of investing. There are considerably fewer people are aware of this market than there are people aware of several other avenues of investing. Trading foreign currency, also known as forex, is the most lucrative investment market that exists. There are several factors that make this true among which, successful forex traders earn realistic profits of one hundred plus percent each month. Compared to some of the better known investment markets such as corporate stocks, this is an unheard of return on investment. It’s very necessary to mention here that a person who invests in forex must, without exception, make it a point to learn the detailed, but simple strategies and information surrounding the market. This very fact is what makes the difference between successful forex traders and other traders.
A few additional points, which create such powerful leverage for investors within the forex market are: The amount of capital required to begin investing in the market is only three hundred dollars. For the most part, any other investment market is going to demand thousands of dollars of the investor in the beginning. Also, the market offers opportunities to profit regardless what the direction of the market may be; In most commonly known markets investors sit and wait for the market to begin an up trend before entering a trade. Even then, investors, as a rule must sit and wait some more to be able to exit the trade with a nice profit. Given that the forex market produces several up, down, and sideways trends in a single day, it can easily be seen that forex stands head and shoulders above other markets. Additionally there are trading strategies, which are taught that provide for compounded profits; these are profits on top of profits. In addition, free demo accounts are available within the industry of forex trading, which facilitate the sharpening of skills without the risk losing any capital. And the advantage regarding the time factor in trading foreign currency is a very attractive point for any investor. Compared to one of the most sought after avenues of investing, which often requires forty or more hours each week, namely in the real-estate market, the forex market requires a much smaller demand on the investor’s time. Forex trading requires approximately ten to fifteen hours each week to earn a full time income. It’s easy to see that the advantages and great leverage that exist in the forex market, make it among the most lucrative, time liberating, and easy to enter by far.
I hope this information gives you a clear understanding of how you can turn your investing into a true method of making your money work harder for you.
by Joe Clinton
A few additional points, which create such powerful leverage for investors within the forex market are: The amount of capital required to begin investing in the market is only three hundred dollars. For the most part, any other investment market is going to demand thousands of dollars of the investor in the beginning. Also, the market offers opportunities to profit regardless what the direction of the market may be; In most commonly known markets investors sit and wait for the market to begin an up trend before entering a trade. Even then, investors, as a rule must sit and wait some more to be able to exit the trade with a nice profit. Given that the forex market produces several up, down, and sideways trends in a single day, it can easily be seen that forex stands head and shoulders above other markets. Additionally there are trading strategies, which are taught that provide for compounded profits; these are profits on top of profits. In addition, free demo accounts are available within the industry of forex trading, which facilitate the sharpening of skills without the risk losing any capital. And the advantage regarding the time factor in trading foreign currency is a very attractive point for any investor. Compared to one of the most sought after avenues of investing, which often requires forty or more hours each week, namely in the real-estate market, the forex market requires a much smaller demand on the investor’s time. Forex trading requires approximately ten to fifteen hours each week to earn a full time income. It’s easy to see that the advantages and great leverage that exist in the forex market, make it among the most lucrative, time liberating, and easy to enter by far.
I hope this information gives you a clear understanding of how you can turn your investing into a true method of making your money work harder for you.
by Joe Clinton
Forex Is About Trading...
The truth is Forex is about trading. It is not something that you can sell. Now lots of people claims to have a good Forex system and selling it over the internet. Where is the logic in that.
Imagine you have a Forex system that consistently giving you wining trades. The probability is so high that you are willing to and have succesfully trade up to 50% of your capital. Because of its high winning ratio, your accout grows more than 100% a month. Would you sell that system or would you just keep it to yourself.
Would you go to the trouble of doing marketing, SEO, website, selling pages and payment processor? Is it easier to just trade it by yourself? Is it worth it to sell something that is a winning system?
In my hands I have a winning system. I am not willing to sell it or even to share it. I am however looking for 2 students whom I will teach the system and let them trade it. If the 2 students make profit, I am sure what I have now is a winner Forex system and it will be my best kept secrets. It will not be written anywhere but inside my head.
The next time you meet someone who claims to have a good Forex system and trying to sell it to you, maybe you can ask him the same question. Why sell it for money when the Forex system itself can generate money for you, lots of it forever.
Imagine you have a Forex system that consistently giving you wining trades. The probability is so high that you are willing to and have succesfully trade up to 50% of your capital. Because of its high winning ratio, your accout grows more than 100% a month. Would you sell that system or would you just keep it to yourself.
Would you go to the trouble of doing marketing, SEO, website, selling pages and payment processor? Is it easier to just trade it by yourself? Is it worth it to sell something that is a winning system?
In my hands I have a winning system. I am not willing to sell it or even to share it. I am however looking for 2 students whom I will teach the system and let them trade it. If the 2 students make profit, I am sure what I have now is a winner Forex system and it will be my best kept secrets. It will not be written anywhere but inside my head.
The next time you meet someone who claims to have a good Forex system and trying to sell it to you, maybe you can ask him the same question. Why sell it for money when the Forex system itself can generate money for you, lots of it forever.
Monday, May 24, 2010
Market Not active
For the past 2 weeks the market is not very active. Just now its starting to move. When the market is not active I rarely trade and even if I do trade it would be small TP and SL. At the moment I have 2 post newly open. Its in profit now just hoping for a bigger return.
When the market is not active, I do other things. In these 2 weeks, I have upgraded my pc and car. Pc and cars are my hobby now.
My PC:
At the moment I have 2 desktop and 1 laptop. I wanted to buy a new pc but if I do buy a new pc I will have 3 desktop which is an overkill for me alone. Im not about to open a cyber cafe at my home.
Upgrade Spec
1. Abit AN9 32X RM570.00
2. AMD Athlon X2 +4000 RM235.00
3. Kingston 1GB DDR2 X2 RM278.00
4. Geforce 8600GT RM395.00
5. 350W Power Supply RM110.00
My pc upgrade cost me RM 1,588.00
My car:
I also upgraded my car ekzos system and intake system. It is an upgrade long overdue since the original piping already have holes here and there.
Upgrade Spec
1. Complete ekzos system + muffler RM305.00
2. Intake pipe + K&N filter RM400.00
3. New Head Unit. Now can play SD directly RM398.00
My car upgrade RM 1,103.00
guess what, at the moment it is much cheaper to upgrade your car compare to upgrading a pc.
Then I was looking around the net and found this website. It sells magnetic bracelet. Sort of Bio Magnetic Therapy. I go and buy one and wear it. The first time I wear it, I felt dizzy like I was drunk of something. I cannot even smoke cigarette any more. That night I had a good night sleep. The best sleep since a long time. Its like someone switch off the power. The next morning its all good. Looks like Bio Magnet Therapy really works. The bracelet is good looking, it give you bio magnetic therapy and also its a MLM business. Personally I dont do MLM anymore but since the bracelet is giving you a chance to actually make money, its a very good deal. Not only does it looks good, it keeps you healty and give you good opportunity make money.
When the market is not active, I do other things. In these 2 weeks, I have upgraded my pc and car. Pc and cars are my hobby now.
My PC:
At the moment I have 2 desktop and 1 laptop. I wanted to buy a new pc but if I do buy a new pc I will have 3 desktop which is an overkill for me alone. Im not about to open a cyber cafe at my home.
Upgrade Spec
1. Abit AN9 32X RM570.00
2. AMD Athlon X2 +4000 RM235.00
3. Kingston 1GB DDR2 X2 RM278.00
4. Geforce 8600GT RM395.00
5. 350W Power Supply RM110.00
My pc upgrade cost me RM 1,588.00
My car:
I also upgraded my car ekzos system and intake system. It is an upgrade long overdue since the original piping already have holes here and there.
Upgrade Spec
1. Complete ekzos system + muffler RM305.00
2. Intake pipe + K&N filter RM400.00
3. New Head Unit. Now can play SD directly RM398.00
My car upgrade RM 1,103.00
guess what, at the moment it is much cheaper to upgrade your car compare to upgrading a pc.
Then I was looking around the net and found this website. It sells magnetic bracelet. Sort of Bio Magnetic Therapy. I go and buy one and wear it. The first time I wear it, I felt dizzy like I was drunk of something. I cannot even smoke cigarette any more. That night I had a good night sleep. The best sleep since a long time. Its like someone switch off the power. The next morning its all good. Looks like Bio Magnet Therapy really works. The bracelet is good looking, it give you bio magnetic therapy and also its a MLM business. Personally I dont do MLM anymore but since the bracelet is giving you a chance to actually make money, its a very good deal. Not only does it looks good, it keeps you healty and give you good opportunity make money.
Saturday, May 22, 2010
A Good Start
Here is a hint to those starting in Forex. Take a good scalping system that you can find in the internet, use that system to trade on longer timeframe like 4hours or daily. If the system is good on short timeframe it would be better on longer timeframe.
You will have yourself a price action system. Which means you dont have to forecast anything. You will trade based on price action and you will have little to no stop loss. Try it
You will have yourself a price action system. Which means you dont have to forecast anything. You will trade based on price action and you will have little to no stop loss. Try it
Thursday, May 13, 2010
INTERNET PROBLEM
Having trouble log in into blogger account lately. Forex is not going anyway at the moment. Up and down it is still at the same level.
Currently I am watching for a certain level in GbpUsd. 1.4650 is the level I am waiting for. Believe it or not, I have not traded this week. Today GU nearly hit my stop order. I am still waiting
Currently I am watching for a certain level in GbpUsd. 1.4650 is the level I am waiting for. Believe it or not, I have not traded this week. Today GU nearly hit my stop order. I am still waiting
EURGBP DROP
Yesterday I wrote about EG connection. Guess what, I took the whole EG drop and run away with it. Right now all live post on EG is closed, profit in the bag :).
I was so confident on EG drop I was betting 50% of my capital on it on 1 post only. Quiet a risk and really worth it. I feel like I just won a horse race :))
EU still up there and there is a killer spike up to 1.3537. Atm I on sideline watching for opportunity.
Fing lol email me on your progress. Really like to hear how you are doing.
I was so confident on EG drop I was betting 50% of my capital on it on 1 post only. Quiet a risk and really worth it. I feel like I just won a horse race :))
EU still up there and there is a killer spike up to 1.3537. Atm I on sideline watching for opportunity.
Fing lol email me on your progress. Really like to hear how you are doing.
Wednesday, May 12, 2010
THE ENDING IS NEAR
1,447 days ago I started to step in the world of Forex. 6th May 2006 is the day I registered my 1st demo account and its a Saturday. Through out my journey in Forex, there are no actual manual, text or books that I can really refer to. Its like an unexplored land with no maps what so ever. There are only guides available online with no one giving specific answer.
Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle.
Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX".
I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management.
What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier.
For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.
You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway.
Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been there.
Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle.
Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX".
I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management.
What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier.
For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.
You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway.
Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been there.
Tuesday, May 4, 2010
Demo account?
Beginners should always start with a demo account or practice account. Most of the leading currency brokers dealing in fx online trading offer demo account. Account opening is simple – Register on the website of the broker and download currency trading software. It hardly takes few minutes to start trading currencies.
1. What is a Demo account?
Demo account is essentially a practice account where you can do everything that fx trader does in a live fx market.
2. How does a Demo account work?
When you open a demo account, you are allotted a notional sum of 50,000$. Sum varies from broker to broker. Validity of demo account varies from 30 days to 60 days. With this virtual money of 50,000$ you can buy/sell foreign currency in a real fx market without any fear of loss of money.
3. What are the major benefits of a Demo Account?
Demo account is a great way to get a real handle on the features and functionality of fx trading platform of the broker. Demo account is the best option to learn A to Z of foreign exchange trading right from the types of orders up to the technical analysis and currency trading strategies.
Demo account is an ideal solution to get rid of the phobia of getting started with foreign exchange trading.
1. What is a Demo account?
Demo account is essentially a practice account where you can do everything that fx trader does in a live fx market.
2. How does a Demo account work?
When you open a demo account, you are allotted a notional sum of 50,000$. Sum varies from broker to broker. Validity of demo account varies from 30 days to 60 days. With this virtual money of 50,000$ you can buy/sell foreign currency in a real fx market without any fear of loss of money.
3. What are the major benefits of a Demo Account?
Demo account is a great way to get a real handle on the features and functionality of fx trading platform of the broker. Demo account is the best option to learn A to Z of foreign exchange trading right from the types of orders up to the technical analysis and currency trading strategies.
Demo account is an ideal solution to get rid of the phobia of getting started with foreign exchange trading.
Forex brokers
Forex brokers or forex brokerage firms act as an intermediary that facilitates order routing between the buyers and sellers. With rapid development of forex markets, brokers have transformed into full service agencies. Forex brokers offer vast number of innovative features and services instead of just acting as the dealers. Forex brokers fall under two categories – small and medium brokers and large and heavyweights like financial institutions or banks.
If you are a potential investor in the forex currency trading then your first step in the right direction is to choose a reliable forex broker. There are many important factors that need proper due-diligence in order to select professional forex broker. It is indeed a daunting task for the beginners. This article intends to provide a comparison between forex brokers operating in and around UK. Comparison is centered on UK because UK plays a very vital role in the entire global forex markets and due to its dominance in the global forex markets, majority of the forex brokers provide their services in UK.
Table given below shows a comparison of forex brokers based on the most important parameters viz. leverage ratio, pip spread, and minimum deposit. We have selected about a dozen plus leading names from small/medium/large forex brokers who are registered under NFA (National Futures Association, USA) or CFTC (Commodities Futures Trading Commission, USA) or FSA (Financial Services Authority, UK) or any other global regulatory authority.
If you are a potential investor in the forex currency trading then your first step in the right direction is to choose a reliable forex broker. There are many important factors that need proper due-diligence in order to select professional forex broker. It is indeed a daunting task for the beginners. This article intends to provide a comparison between forex brokers operating in and around UK. Comparison is centered on UK because UK plays a very vital role in the entire global forex markets and due to its dominance in the global forex markets, majority of the forex brokers provide their services in UK.
Table given below shows a comparison of forex brokers based on the most important parameters viz. leverage ratio, pip spread, and minimum deposit. We have selected about a dozen plus leading names from small/medium/large forex brokers who are registered under NFA (National Futures Association, USA) or CFTC (Commodities Futures Trading Commission, USA) or FSA (Financial Services Authority, UK) or any other global regulatory authority.
futures trading
Efficient order management, live charts, real time market quotes, commodity forex news and analysis – these are few of the necessary elements required by a trader for commodity forex trading.
Majority of the commodity forex brokers provide fully integrated and customizable futures trading platforms without levying any additional charges or license fees. Some of the brokers may grant free access only for web based or browser based trading software but for java application based software they impose one time license fees or insist on minimum commitment on brokerage business.
What should you expect from futures trading platforms?
Look out for a state of the art futures trading platform that works on application based software and that offers:
* Multi segment platform that can allow trading across various exchanges and markets such as E-Minis, Globex commodities and forex, pit traded commodities and many other global futures markets.
* Live streaming quotes, market depth, multiple market windows, fast, reliable and efficient order management.
* Facilities to trade directly from the charts.
* Surfeit of technical analysis, charting and other analytical tools like options calculator and currency converter to develop trading strategies.
* Real time access to global news, fundamental research and technical analysis.
* Demo version with a demo user id and password. It helps you get a complete idea about various features and functionalities of the futures trading platform.
Majority of the commodity forex brokers provide fully integrated and customizable futures trading platforms without levying any additional charges or license fees. Some of the brokers may grant free access only for web based or browser based trading software but for java application based software they impose one time license fees or insist on minimum commitment on brokerage business.
What should you expect from futures trading platforms?
Look out for a state of the art futures trading platform that works on application based software and that offers:
* Multi segment platform that can allow trading across various exchanges and markets such as E-Minis, Globex commodities and forex, pit traded commodities and many other global futures markets.
* Live streaming quotes, market depth, multiple market windows, fast, reliable and efficient order management.
* Facilities to trade directly from the charts.
* Surfeit of technical analysis, charting and other analytical tools like options calculator and currency converter to develop trading strategies.
* Real time access to global news, fundamental research and technical analysis.
* Demo version with a demo user id and password. It helps you get a complete idea about various features and functionalities of the futures trading platform.
Forex Symbols:
Forex Symbols: There are seven most active currencies on the forex trading markets, besides number of other currencies that are traded sporadically.
1. US Dollar – USD
2. European currency – EURO
3. Japanese Yen – JPY
4. British Sterling Pound – GBP
5. Swiss Franc – CHF
6. Australian Dollar – AUD
7. Canadian Dollar – CAD
Forex Pairs: The term Forex pair may sound intriguing to those of you who are used to stock trading. Why forex in pairs? Well, even in stock trading, indirectly you are trading a pair. When you buy a stock, you are selling your money and vice versa. Similarly when you are trading forex you are buying once currency and selling the other currency. EURO/USD, USD/JPY, GBP/USD and USD/CHF are the most traded forex pairs that churn out the bulk of the daily trillion dollars turn over in global forex trading.
On any forex trading platform, you will find that almost half of the screen is occupied by flashing figures of forex quotes. Dealing rates is the alternate term often prescribed for forex quotes. Prima-Facie you may feel that it is very easy to read forex quotes. However if you are a novice, you may land up with a buy trade instead of a desired sell trade. I would suggest that you must thoroughly understand how the forex rates are quoted on the forex trading platforms.
Let us study an example of USD/JPY. There are essentially two aspects. The first aspect relates to the exchange rate and the second aspect relates to the forex quote as appearing on the screen of forex trading broker.
1. US Dollar – USD
2. European currency – EURO
3. Japanese Yen – JPY
4. British Sterling Pound – GBP
5. Swiss Franc – CHF
6. Australian Dollar – AUD
7. Canadian Dollar – CAD
Forex Pairs: The term Forex pair may sound intriguing to those of you who are used to stock trading. Why forex in pairs? Well, even in stock trading, indirectly you are trading a pair. When you buy a stock, you are selling your money and vice versa. Similarly when you are trading forex you are buying once currency and selling the other currency. EURO/USD, USD/JPY, GBP/USD and USD/CHF are the most traded forex pairs that churn out the bulk of the daily trillion dollars turn over in global forex trading.
On any forex trading platform, you will find that almost half of the screen is occupied by flashing figures of forex quotes. Dealing rates is the alternate term often prescribed for forex quotes. Prima-Facie you may feel that it is very easy to read forex quotes. However if you are a novice, you may land up with a buy trade instead of a desired sell trade. I would suggest that you must thoroughly understand how the forex rates are quoted on the forex trading platforms.
Let us study an example of USD/JPY. There are essentially two aspects. The first aspect relates to the exchange rate and the second aspect relates to the forex quote as appearing on the screen of forex trading broker.
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