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www.CandlestickForums. www.CandlestickForums. com com Trade Forex Trade Forex

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http://www.CandlestickForums.com Trade Forex Trade Forex with the Pros To trade forex is to buy one currency and to sell another currency simultaneously. The forex market is the largest market in the world trading more than three trillion dollars every day. Forex trading is considered speculative meaning that only a low percentage of market activity represents companies’ and governments’ currency conversion needs. Forex currency trading is also highly liquid which helps to ensure narrow spreads and price stability. When investors trade currency, each currency works against the other. This is due to the constant fluctuation of the market and as a result it provides numerous trading opportunities. In order to trade forex with the pros, you need to understand the terms associated with forex currency trading, also referred to as foreign currency trading. You will need to understand what a bid and an ask are. The bid is the price that you can sell currency at, and the ask is the price that you can buy currency at. Another term that you should be familiar with is the term spread. The spread is the difference between the bid and the ask, or in other words, it is the difference between the price that you can sell forex currency at and the price that you can buy forex currency at. The second term that you should be familiar with is a pip. Pips are the smallest unit in which a cross price quote changes and is determined by comparing the bid and the ask price. To determine the pip when you trade forex, you have to know how many decimals a country’s currency is quoted at, and then you cancel out the zeros on the amount you trade. The most commonly traded foreign currencies are called the majors. There are five major currencies and they are listed below.

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Page 1: Trade Forex

www.CandlestickForumwww.CandlestickForums.coms.com

Trade ForexTrade Forex

Page 2: Trade Forex

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Trade Forex with the ProsTrade Forex with the Pros

Page 3: Trade Forex

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To trade forex is to buy one currency To trade forex is to buy one currency and to sell another currency and to sell another currency simultaneously.simultaneously.

Page 4: Trade Forex

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Page 5: Trade Forex

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The forex market is the largest market The forex market is the largest market in the world trading more than three in the world trading more than three trillion dollars every day.trillion dollars every day.

Page 6: Trade Forex

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Forex trading is considered Forex trading is considered speculative meaning that only a low speculative meaning that only a low percentage of market activity percentage of market activity represents companies’ and represents companies’ and governments’ currency conversion governments’ currency conversion needs.needs.

Page 7: Trade Forex

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Forex currency trading is also highly Forex currency trading is also highly liquid which helps to ensure narrow liquid which helps to ensure narrow spreads and price stability.spreads and price stability.

Page 8: Trade Forex

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When investors trade currency, each When investors trade currency, each currency works against the other.currency works against the other.

Page 9: Trade Forex

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This is due to the constant fluctuation This is due to the constant fluctuation of the market and as a result it of the market and as a result it provides numerous trading provides numerous trading opportunities.opportunities.

Page 10: Trade Forex

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In order to trade forex with the pros, In order to trade forex with the pros, you need to understand the terms you need to understand the terms associated with forex currency associated with forex currency trading, also referred to as foreign trading, also referred to as foreign currency trading.currency trading.

Page 11: Trade Forex

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You will need to understand what a You will need to understand what a bid and an ask are.bid and an ask are.

Page 12: Trade Forex

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The bid is the price that you can sell The bid is the price that you can sell currency at, and the ask is the price currency at, and the ask is the price that you can buy currency at.that you can buy currency at.

Page 13: Trade Forex

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Another term that you should be Another term that you should be familiar with is the term spread.familiar with is the term spread.

Page 14: Trade Forex

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The spread is the difference between The spread is the difference between the bid and the ask, or in other the bid and the ask, or in other words, it is the difference between words, it is the difference between the price that you can sell forex the price that you can sell forex currency at and the price that you currency at and the price that you can buy forex currency at.can buy forex currency at.

Page 15: Trade Forex

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The second term that you should be The second term that you should be familiar with is a pip. familiar with is a pip.

Page 16: Trade Forex

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Pips are the smallest unit in which a Pips are the smallest unit in which a cross price quote changes and is cross price quote changes and is determined by comparing the bid determined by comparing the bid and the ask price.and the ask price.

Page 17: Trade Forex

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To determine the pip when you trade To determine the pip when you trade forex, you have to know how many forex, you have to know how many decimals a country’s currency is decimals a country’s currency is quoted at, and then you cancel out quoted at, and then you cancel out the zeros on the amount you trade.the zeros on the amount you trade.

Page 18: Trade Forex

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The most commonly traded foreign The most commonly traded foreign currencies are called the majors.currencies are called the majors.

Page 19: Trade Forex

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There are five major currencies and There are five major currencies and they are listed below.they are listed below.

Page 20: Trade Forex

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The first major currency in the U.S. The first major currency in the U.S. dollar which is the world’s main dollar which is the world’s main currency and is the universal currency and is the universal measure to determine all other measure to determine all other currencies traded on the forex currencies traded on the forex exchange. exchange.

Page 21: Trade Forex

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The second foreign currency is the The second foreign currency is the Euro.Euro.

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The Euro has a strong international The Euro has a strong international presence and was designed to presence and was designed to become the premier currency used become the premier currency used to trade forex.to trade forex.

Page 23: Trade Forex

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The British pound is heavily traded The British pound is heavily traded against the euro and the U.S. dollar, against the euro and the U.S. dollar, but is not quite as strong as the but is not quite as strong as the previous two currencies.previous two currencies.

Page 24: Trade Forex

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The British pound used to be the The British pound used to be the currency of choice until the end of currency of choice until the end of WWII.WWII.

Page 25: Trade Forex

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The Japanese yen is the third most The Japanese yen is the third most traded currency in the world and is traded currency in the world and is very liquid.very liquid.

Page 26: Trade Forex

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The Swiss franc is the only currency of The Swiss franc is the only currency of a major European country that does a major European country that does not belong to the G-7 countries or to not belong to the G-7 countries or to the European Monetary Union.the European Monetary Union.

Page 27: Trade Forex

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Unlike the stock market which takes Unlike the stock market which takes place on a central stock exchange, place on a central stock exchange, forex traders trade forex on the forex traders trade forex on the Foreign Exchange Market.Foreign Exchange Market.

Page 28: Trade Forex

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They are also able to conduct trading They are also able to conduct trading 24-hours a day at whatever times 24-hours a day at whatever times works best for them.works best for them.

Page 29: Trade Forex

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This works well for investors who may This works well for investors who may not be able to conduct fx trading not be able to conduct fx trading during the day during their regular during the day during their regular work hours.work hours.

Page 30: Trade Forex

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Forex trading is a great way for Forex trading is a great way for investors to make money trading investors to make money trading however, they must be sure to invest however, they must be sure to invest in their education of the forex in their education of the forex markets as well as a forex trading markets as well as a forex trading system that works for them.system that works for them.