basics of forex trading:
Forex, FX, or Foreign Exchange, is the exchange of one country's
currency for that of another SIMULTANEOUSLY.
The Forex market operates 24-hours a day, five days a week
and it is the largest financial market in the world with daily
reported volume of over $1.4 trillion changing hands between
buyers and sellers across the globe, making it one of the most
exciting markets for trading.
You buy or sell one currency for another in the Forex market.
When you buy a currency, you're "long" in that currency and
when you sell a currency, you are said to be "short" in that
currency. As the value of one currency rises or falls relative to
another, you decide to buy or sell currencies in order to make
profits.
The symmetry of currency transactions works in such as way
that you are always simultaneously long in one currency and
short in another!
Currencies are always quoted in pairs, for examples, EUR/USD
or USD/JPY. The first listed currency is known as the "base"
currency, while the second is called the "counter" or "quote"
currency. The base currency is the "basis" for the buy or the sell.
To illustrate, if you BUY EUR/USD you have bought Euros
(which also means that you simultaneously sold dollars). You
would do so in expectation that the Euro will go up in value or
"appreciate" in relation to the US dollar.
Currency Abbreviations (Major Currencies):
EUR - Euro
NZD - New Zealand dollar
GBP - Great British pound
AUD - Australian dollar
USD - US dollar
CAD - Canadian dollar
CHF - Swiss franc
JPY - Japanese Yen
Margin / Leverage - FX accounts are margined, which means that
a trader can hold a market position much larger than the value of
the trader's account value.
Rollover- It involves exchanging the position being held for a
position expiring the following settlement date. In the spot forex
market, trades must be settled in two business days. If a trader
sells 10,000 Euros on Tuesday, the trader must deliver 10,000
Euros on Thursday, UNLESS the position is rolled over.
For more advanced topics and detailed explanations, you can go
to "Forex Training" in the ForexYard website.
There are hundreds of Forex brokers around where you can
pick to make money. Why ForexYard?
Here are the reasons:
- FOREXYARD utilizes the experience of professional forex traders,
as well as internet and financial sector specialists in order to
successfully establish itself as one of the premier online brokerages
operating in today's market.
- FOREXYARD recognizes the inherent value of up-to-date and
relevant information; therefore they employ experienced analysts
to provide accurate research and analysis, updated on a daily basis.
- When trading online with FOREXYARD, you will receive:
# Establish A Trading Account with as Little as $100
# No Software Download Needed
# Instant Deposit with Credit Card
# Start Trading in Minutes
# Fixed Spreads in All Markets, All the Time
# Continuous Quoting, with No Price Freezes
# Executable Quotes - Click on Any Bid or Offer
# No Slippage on Market, Limit, and Stop Orders
# Negative Balance Protection - No Debits
# Unparalleled 24-hour Trader Support
# Easy-to-follow training material
Try ForexYard today and make as much forex profit as
possible!
FOREXYard Limited.
Click Here
Good Luck!
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