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Forex lesson 1 forex overview
- 1. Forex Tips & Trading Strategy For You
- 2. Forex Lesson 1: Forex Overview
- 3. What is forex? • The Foreign Exchange market, also called forex. • Forex is global currency trading market. ... • FOREX happen when one currency is exchanged for another. • The single most important thing on the forex market is the exchange rate between two currencies
- 4. How Do You Trade Forex • In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease. ... • Let say, you buy gold with price of 1 dollar. Then tomorow, price increase to 5 dollar. Then You sell it, you gain 4 dollar from it. • That is how forex works, you buy with low price, sell at the high price.
- 5. What is pip? • A pip is a very small measure of change in a currency pair in the forex market. ... • pip is a standardized unit and is the smallest amount by which a currency quote can change, which is usually $0.0001 for U.S.- dollar related currency pairs, • which is more commonly referred to as 1/100th of 1%, or one basis point.
- 6. buy 1.1630 -1.1500 = 0.0130 130pips
- 7. Forex Quotes USD/JPY 89.29/89.32 Base Currency Always have value of 1 Quote Currency Bid Price is the price That you sell the base currency Ask Price is the price That you would buy the base currency
- 8. Forex Players • Banks • Large Commercial Companies • Goverments And Central Banks • The Speculators
- 9. Forex Broker • Firms that provide currency traders with access to a trading platform that allows them to buy and sell foreign currencies. • A currency trading broker, also known as a retail forex broker, or forex broker, • handles a very small portion of the volume of the overall foreign exchange market.
- 11. Forex Brokers
- 14. How To Choose Forex Broker 8 Things To Know Before Choosing Forex Broker 1. Regulations 2. Capitalization 3. Segregation of Funds 4. Comission / Spreads 5. Deposit/ Withdawal 6. Mininum Deposit 7. Account Type 8. Customer Service
- 15. Platform to use
- 16. What Pair To Use? • Major Pair – EURUSD – GBPUSD – AUDUSD – NZDUSD • Cross Pair – EURJPY – GBPJPY – AUDJPY – NZDJPY
- 18. Pending Order • Market Execution • Buy Stop • Sell Stop • Buy Limit • Sell Limit Buy Sell
- 19. Market execution use to do market order instantly
- 21. Buy Stop -Order place above price and price keeps going up
- 22. • Buy Limit • Order place below price and price then goes up
- 23. • Sell Stop • Order placed below price and price keeps going down
- 24. • Sell Limit • Order placed above price and price goes down
- 25. Take Profits Stop Loss Order Type
- 26. Take Profits Stop Loss Order Type Price
- 27. 5 Step to trade forex • Education • Demo • Practice • Real Account • Keep Learning
- 28. Forex Failure • No forex education • Greedy • Lack of practice • No Trading Plan
- 29. visit