Posts Tagged ‘forex’
Getting Started With Automated Forex Trading Software
December 5th, 2009
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What Does the FOREX Robot Trading System DO?
December 4th, 2009
Forex Miracle Review
February 23rd, 2009
Forex Miracle Review – 6 important Terms to Know
These are the forex trading terms which every trader needs to 
know before he or she even starts the first trade. Quite simply, if you do not know them, then the forex trading game may not be suitable for you. Why? Because they are the essentials!
1. Currency Pairs
Every transaction involves a pair of currencies since a trade is basically the selling of one currency and buying of the other.
2. Major and Minor Currencies
There are 7 major currencies traded online. They are USD, EUR, JPY, GBP, CHF, CAD and AUD. The rest are all minor currencies. Amongst these, some of the more frequently traded ones are the South African Rand (ZAR), the Singapore Dollar (SGD) and New Zealand Dollar (NZD).
3. Base Currency
The base currency is the first currency in the pair as a measure of its value against the second currency. For example, a GBP/USD = 1.7100 means that 1 GBP is worth 1.7100 USD.
4. Quote Currency
The quote currency is the second currency in the pair. Any profit or loss is a measure of this currency.
5. Cross Currency
A cross currency is a pair which neither of them is the USD. These pairs often experience intricate price movements because each trade actually involves the buying and selling of 2 different currency pairs. For instance, when buying a EUR/GBP, you are actually buying a EUR/USD pair and at the same time selling a GBP/USD pair. The transaction costs are often higher for such trades.
6. Pips
What is a pip? 1 pip is the smallest unit of price for any foreign currency. Most currency pairs consist of 5 digits and the pip represents the smallest change in the fourth decimal place, ie 0.0001.
These are the core forex trading terms that all professional forex traders should get familiar with. Since each trade cannot depart from them, it does make sense to find out more.
Author: Davion Wong
Learn everything about forex trading from Davion’s wildly popular Forex Trading Made Easy blog – from mastering the basics of foreign exchange trading to discovery of new trading tips, strategies, tools and more.
Article Source: http://EzineArticles.com/?expert=Davion_Wong
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Forex Currency Trading Beginner – Online Forex Trading For Beginners
A beginner in forex currency trading must do some research and learn all the basics before actually playing with real money. It´s very important to understand.
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Forex Miracle Review
February 23rd, 2009
Forex Miracle Review – FX Trends
Long term Forex trend following is the best way to make big gains but most traders want to trade short term low odds trades and lose. If you want to win, you need to focus on the big trends and big profits…
Forex trend following is all about locking into the big moves and that means trends that last for many weeks or even months
Not only will you make bigger profits per trade doing this you will spend less time trading and that’s a combination all traders should be interested in!
Focus on these big high odds trades and watch for breakouts to new market highs, to execute your trading signals.
Look for important levels of resistance to give way and when they do, execute your trading signal in the direction of the break.
All the best trends start from breakouts and it’s a simple and easy way, to get in the big moves and as long as markets trend, this methodology will work.
Put your stop below the resistance level which has just broken and wait for the trend to unfold. The most important point to consider, when trend following is where you place your stop.
Most traders like to keep moving their stop up and put it to close to the price and get taken out of the trade. Don’t make this mistake!
You need to give the market room to move, as within any big trend you are going to get pullbacks and you don’t want to be stopped out by minor moves against the trend you are in.
When I trend follow, I am looking for trades to last for a few weeks to a few months and if you do this, you have to accept, your open equity will fall in the short term but if you accept this, when you bank your come to bank your trade you will have a huge profit.
Forex trend following is easy to do and gets the odds on your side an enables you to make big profits in less than 30 minutes a day so try it and start making some big profits.
Author: Samuel Leslie Berkovits
NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf’s, with 50 of pages of essential info an exclusive RISK FREE Successful Forex Trading Strategy visit our website at: http://www.learncurrencytradingonline.com
Article Source: http://EzineArticles.com/?expert=Samuel_Leslie_Berkovits
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