Forex
is an acronym for Foreign Exchange market and it cannot be compared with the
common stock exchanges such as Nasdaq and the Tokyo stock exchange. On the
Forex market currencies are exchanged between the central bank and brokers.
Currencies can be traded in pairs (e.g EUR/USD) this pair expresses the price
of the euro in US dollars. As in 1 Euro = 1.3000 USD
Price changes are displayed in pips, so making or losing money depends on pips. For example
if you own 100,000 currency pairs and the pip has changed 5 points from 1.3000
to 1.3005 you will earn 50$ (0.0005*100,000) Our advice to the starters is to
begin dealing with small pairs.
Forex product prices are generally quoted in two or four
decimals points (e.g. €/$ 1.12 or 1.1234). "pip" stands for
percentage in point. In order to participate on the Forex market you will need
to open an account. Brokers can give you access to the market and they offer
different forex
account types. If you want to enter the market
with real money a minimum deposit of $25 - $25,000 is required.
To read and learn more about the Forex market, take a
look at our Forex
tutorials or ask your Forex broker if they provide webinars or classes.
ForexTrading.org offers you weekly trading advice. This advice
often contains safety information, rules for the Forex market or hints &
tips to improve your earnings. Make sure to check the page weekly to get the
most recent advice. You can also take a look at our Forex tips.
Trading
advice:
ForexTrading.org is offering you a trading advice weekly.
This might contain safety information, rules for the Forex or tips to improve
your earnings. Make sure to check the page weekly to gain the most recent
advice, or read all the Forex
tips.
This week's advice: This week’s advice talks
about the best ways to predict value changes. There are a lot of ways to
predict the change of a currency against another currency. We advise you to
read about the Forex market and become interested in all the subjects that can change
the value of currencies. For example, take a look at the financial news every
day, If you read that there there’s an increase in the number of jobs available
or a decrease in unemployment, there is a high chance that the discussed
currency will become more valuable.
Furthermore
the currency is connected with the stock exchange market. If the Nasdaq has a
good day, the chances are that the Dollar will change accordingly. Before you
start immersing yourself in the Forex market you will do good by reading about
Forex so that you build up sufficient knowledge on the subject.
Last week:This week we’ll give you some advice
about using the promotions that your Forex broker offers. When you are new to
Forex trading you will probably come across a lot of promotions where you can
get free money to trade with. These bonuses often give you an X percentage of
money (based on your initial first deposit) on top of your first deposit.
Before you accept one of these bonuses we advise you to check the bonus
agreements thoroughly so that you know what the pay-out requirements are.
If you
decide to use the bonus and to start trading, we advise you to deposit a high
amount. This because the bonus promotions are aimed at new costumers and the
higher the first deposit, the higher your bonus will be.
Thanks For visiting my blog I hope this info will help you in your trading efforts, Remember KEEP IT SIMPLE;
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