The Major Players in the Foreign Currency Exchange Market -
Since the US dollar is the centerpiece of the market, it is
normally considered the 'base' currency for quotes. In the
"Majors", this includes USD/JPY, USD/CHF and USD/CAD. For these
currencies and many others, quotes are expressed as a unit of $1
USD per the second currency quoted in the pair. For example, a
quote of USD/JPY 123.50 means that one U.S. dollar is equal to
123.50 Japanese yen.
When the U.S. dollar is the base unit and a currency quote
goes up, it means the dollar has appreciated in value and the
other currency has weakened. If the USD/JPY quote listed above
were to increase to 124.01, that would mean that the dollar is
stronger because it will now buy more yen than before.
Some exceptions to this rule are the British pound (GBP), the
Australian dollar (AUD) and the Euro (EUR). In these cases, you
might see a quote such as GBP/USD 1.4366, which means that one
British pound equals 1.4366 U.S. dollars. In these three currency
pairs, where the U.S. dollar is not the base rate, a rising quote
means a weakening dollar, as it now takes more U.S. dollars to
equal one pound, euro or Australian dollar.
So if a currency quote goes higher, that increases the value
of the base currency. A lower quote means the base currency is
weakening. Currency pairs that do not involve the U.S. dollar are
called cross currencies, but the premise is the same. For
example, a quote of EUR/JPY 127.95 signifies that one Euro is
equal to 127.95 Japanese yen.
Chuck Cox is a Technical Writer and Industrial Scientist by
professional with a background in statistics. He has used
mathematical and statistical methods to invest and trade in the
stock, futures, and options markets. Chuck has owned various
businesses and presently operates several websites. To
investigate a new business idea, visit his website, http://www.earncashathometoday.com/trading-FOREX.htm
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Example of a Profitable
Transaction in FOREX
To make a profit, in the FOREX, a trader can enter the
market as a *buy position* (known as going "long") or a
*sell position*(known as going "short"). For discussion,
let's assume you've been studying the EURO.
What are Your Options
Regarding Forex Options Brokers?
Forex option brokers can generally be divided into two
separate categories: forex brokers who offer online forex
option trading platforms and forex brokers who only broker
forex option trading via telephone trades placed through a
dealing/brokerage desk. A few forex option brokers offer
both online forex option trading as well a
dealing/brokerage desk for investors who prefer to place
orders through a live forex option broker.
Trade Exit - How To Cut
Losses And Let Profits Run
Cut your losses short and let your profits run. This is the
essence of your trade exit rules.
The Forex Market-What, When and Why?Forex, FX and the Forex
market are some common abbreviations for the Foreign
Exchange market. Actually it is the largest financial
market in the world, where money is sold and bought freely.
Adaptation to the
Realities of the Market
Do you think adaptation to the realities of the market is
the most important thing?Many times in the past I've
written about the need to adapt, the need to be able to
change your behavior relative to the market because the
markets are ever changing. I've stated that mechanical
systems may be workable, but for only a short time relative
to the life of markets.
Reality of Online Forex
Foreign exchange trading is the trading of currencies. Most
currencies can be traded.
The Basics of
Foreign exchange market is also known as Forex or FX
market. To date, it is the world's biggest "economic
The following situation happens quite often to many
traders. Look it over and see if it has been happening to
you: You have been faithfully following your trading plan
and the rules you've set for trading.
Momentum Trading: A
Practical Day Trading Strategy to Get Profits from Hot
Momentum day trading can be extremely profitable when done
Two Timeless Rules in
RULE #1) ~ Cut your losers; let your winners ride. One
important thing that every new trader must know before
entering this highly profitable business is that life is
not perfect, even in FOREX land, and you should always know
one fact: YOU WILL HAVE LOSING TRADES.
The Meaning of FOREX
Price Charts and How to Use Them
There is one very important factor that you should consider
with great care if you are willing to become a successful,
profitable Forex trader. This ever important factor that
must be always present in the trader's portfolio, is the
ability to read the charts.
Factors Influencing a
Currency Pair Exchange Rate
IntroductionThe exchange rate refers to the value of the US
dollar against the values of currencies of other countries.
Such a rate helps determine how much we pay for imported
goods and services and how much we receive for what we
export, among other things.
The Seven Most Traded
Currencies in FOREX.
Currencies are traded in dollar amounts called "lots". One
lot is equal to $1,000, which controls $100,000 in
ISO 4217 in Forex
ISO 4217 is an international standard describing three
letter codes to define the names of currencies established
by the International Organization for Standardization
(ISO).The first two letters of the code are the two letters
of ISO 3166-1 alpha-2 country codes (which are similar to
those used for national top-level domains on the internet)
and the third is usually the initial of the currency
Day Trading - Moving
Averages vs Support and Resistance
When day trading the SP and Nasdaq futures, do you rely on
your moving averages more than your support & resistant
areas?During the first hour of trading, the support and
resistance zones on the SP and Nasdaq futures are the most
important things to watch. The moving averages have not yet
had a chance to come into play.
Crisis of Confidence in
The European Union (EU) constitution was dealt a double
blow, first by a French "no" vote on 29-May and then by a
follow on "no" from the Netherlands on 01-Jun. To add
insult to injury, one low level Italian diplomat quickly
called for a referendum in Italy to decide if a return to
the lira was warranted.
Learn Forex Trading - a
Guide for Beginners
One can learn forex trading as easily as one would like to
learn other subjects or train in other professions. The
criteria for learning forex trading is an analytical /
logical bent of mind and some number crunching abilities.
Day Trading Success- The
Key Is Survival
Most new traders tend to focus just about all their time
and energy on finding nearly perfect "setups", but trade
setups, even very good ones, are *not* the key to
successful trading. It's the *way* you trade your setups
that keeps your losses smaller than your gains.
I read on a bulletin board a traders comment that on his
first outing trading the E-Mini S&P 500 he lost on each
of his trades. He noted though, that had he had a wider
stop each of his trades would have been profitable and that
therefore he would be trading with a wider stop in future.
How Do Other Countries
Devalue Their Currencies?
Countries devalue their currencies only when they have no
other way to correct past economic mistakes - whether their
own or mistakes committed by their predecessors. The ills of
a devaluation are still at least equal to its advantages.
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