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Currency trading is not the monopoly of the nerds and the geeks
The general perception is that any and every person who is
involved in the business of trading of currency or foreign
exchange is a person who has a super high IQ. To hear words and
phrases like liquidity ratio, central bank intervention...
Forex Scams: How to Spot Them a Mile Away
In recent years, investors have witnessed increased number of investment opportunities and offerings. While the complexity and success of these investment products vary, technological innovation has made the Forex market one of the fastest growth...
Option Arbitrage in the Forex Market
What is arbitrage? Arbitrage is the simultaneous buying and selling of identical financial instruments taking advantage of price discrepancies between different brokers, exchanges, clearing firms, etc. and thus looking in a profit. On paper,...
The Forex Market explained!
The word Forex is an abbreviation for The Foreign Exchange Market. This is the market in which all is bough and sold is money itself, which means that with certain currencies you can buy other kinds of currencies. It is the largest and most liquid...
Your Guide To Successful Forex Trading
If you were wondering; forex trading is nothing more than direct access trading of different types of foreign currencies. In the past, foreign exchange trading was mostly limited to large banks and institutional traders however; recent technological...
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Three Important Forex Concepts For New Traders.
As you enter the world of Forex you will find yourself learning
and using many new concepts that you may not have used or heard
before.
Three of this important concepts that you must understand are
what "Pips" are, What "Volume" is and what you do when "Buying"
and "Selling Short". They may look more like four concepts but
Buying and Selling are like the two faces on the same coin so we
can consider them as a single concept.
Lets first introduce what Pips are. Maybe you have heard or read
already how many pips a day you can make using some trading
system. In short, currency pairs prices will go out to 4
significant digits. For example; if one currency pair is trading
for 1.3451 then an increase to 1.3452 would be a "one-pip"
increase in the price of this particular currency. This is an
increase of one hundredth of a percent of the value of the
currency pair you are trading. And depending the type of account
you have, regular or mini, each pip will have a value of $10 or
$1. So if you make 10 pips a day with a regular account you
would have made $100 and with a mini-account $10.
Now we can talk about the Volume; trading Volume is a quantity
that tells traders how much money is being traded at one
particular moment. And the forex market is known by its high
volume of trading during most of the time markets are open. Some
times there can be spikes in the volume during some type of
news
breaks and during the time New York stock exchange is open. The
volume of transactions in Forex, even in a slow day, will always
be much higher than the volume traded in other large exchanges
at their full capacity.
Now maybe the most obvious of the concepts. Buying refers to the
acquisition of a particular currency pair to open a trade.
Selling short refers to the selling of a particular currency to
open a trade. When you Buy, you are expecting the price of the
currency pair to increase with time, i.e., you buy cheap to sell
high. In the case of Selling short, it looks a bit more
complicated. Here the way to make money is to initially sell a
currency pair that you think will lose value in a given period
of time and then, once it happened, you will buy it back at the
new price but now you can sell it at the previous greater price
the currency had when you opened the trade, so you earn the
difference in prices. I know it seems kind of tricky, but once
you are in front of your trading station it will look much
simpler.
Understand well these three concepts and you will start with
solid steps you trading career.
About the author:
Adrian Pablo is a freelance writer with articles published in a
number of places. Get a free report on Fibonacci Trading and
learn more about the world of trading , visit:
http://www.1-forex.com
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