What's a pip?

What's a pip?

A pip is the smallest value in a Forex quote. Take our example earlier on EUR/USD. If the exchange rate goes from 1.2385 to 1.2386; that's one pip. In mathematical definition, a pip means the last decimal place of a quotation.

Note that as each currency has its own value, the value of a pip is different from one another. Say USD/JPY rate at 120.75, a pip would be 0.01 (the second decimal place); while for EUR/USD 1.2385, a pip would be 0.0001 (the fourth decimal place).

FX Quoting: Bid/Ask and Spread

FX Quoting: Bid/Ask and Spread

There are sometimes that you can only see one price but often currency exchange price are display in pairs with 'bid price and ask price'.

For example EUR/USD 1.2385/1.2390, 1.2385 is known as the bidding price, while 1.2390 is the asking price. Bidding price is the price that you sell the base currency (EUR in our case here); asking price is the price that you buy the base currency. The different of the bidding and the asking price is called 'spread'.

You might notice that bidding price is always lower than the asking price. Ever wonder why? The different of the bid-ask price (socall 'spread') is how currency brokers make profits without charging commissions to their clients (sell high and buy low in the same time.)

Quoting Foreign Currency

Quoting Foreign Currency

Currencies are always quoted in pairs. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed.

The first currency in the quotes act as the 'base currency'.

For example USD/JPY, EUR/GBP, and GBP/AUD, in such cases, USD, Euro Dollar, and Britain Pound are acting as the base currency. Base currency in a Forex quote will always has a value of 1. USD/JPY indicates how much Japanese Yens you can buy with 1 United States Dollar; similarly EUR/GBP indicates the exchange rate of Great Britain Pound with 1 Euro Dollar.

Trade Forex anywhere from the world virtually

Trade Forex anywhere from the world virtually

A computer with Internet connection plus an active Forex account are sufficient for you to execute a trade in Forex market.

Professional Forex traders have the privilege to travel around the world but yet still connected to the market anytime, anywhere. The freedom of this is something you could not get else where by being an employee of a cooperation.

Advantages in Forex currency trading

Advantages in Forex currency trading

Equal Prospective in Rising or Falling Market Trend

There is no structural bias to the market and there are no restrictions on short selling in FX market. Trading in Forex gives you an equal prospective in rising and falling market.

As trades are always done in pair of currency pairs, Forex traders can always find chance to make money in anytime, regardless on the fall or rise period of one single country currency.

Trade Forex 24 hours a day

Forex market never sleeps. In Forex trading, you do not need to wait the market to open, you can always response to world latest movement and news immediately.

Every Sunday 5.00pm in New York, Forex market starts its week from Sydney, followed by Tokyo, Singapore, Hong Kong, London, and New York. In Forex tradng, you can always response to the market trend a lot faster than in any other trading market.

Also, with the flexibility of Forex market trading time, you can work on your trade in Forex during your free time. This means you can start small and work as part time trader before going full time on FX trading.

High Leverage Margin

Forex brokers offer trade margin of 50, 100, 150, or even 200 to 1 of trade margin.

Forex traders often find themselves controlling a huge sum of money with little cash outlay on the table. For example, a $1,000 in a 150:1 Forex account will gives you the purchase power of $150,000 in the currency market.

While certainly not for everyone, the substantial leverage available from online currency trading firms is a powerful, moneymaking tool. Rather than merely loading up on risk as many people incorrectly assume, leverage is essential in the Forex market.

This is because the average daily percentage move of a major currency is less than 1%, whereas a stock can easily have a 10% price move on any given day.

A very brief intro on Forex trading

A very brief intro on Forex trading

Foreign currency exchange (Forex) market is the largest trading market in the world. It yields an average turnover of $1.9 trillion daily. The figure is nearly 30 times larger than the total volume of equity trades in United States.

Forex is a very unique market.

Trades are always done in pairs, traders are basically buying and selling money in the same time. Beside of trading in pairs, Forex is also very special as it has no centralized trade location and trades are done around the clock.

Unlike any other financial market, investors can respond to money-value fluctuations caused by economic, social and political events at the time they occur - day or night.

Now you've briefly know what's Forex trading, next we'll look at the advantages of FX (why we FX is good financial vehicle to fetch you) as well as how to read Forex bid/ask quotes.

Introducing Foreign Currency Exchange (Forex) Trading

Introducing Foreign Currency Exchange (Forex) Trading

Hello and welcome to Forex 101 Classroom.

So, you wanna make some bucks via Forex trading. Before you read further, let us warn you that 7 out of 10 traders keep losing money in Forex market; while the rest of the 30% work freely at home and earn millions annually.

What makes the difference is that the top 30% are either those with insider news, or those with skills and knowledge.

It is no secret that the foreign currency exchange (FOREX) market is a market full with crocodiles that you will lose your hard-earned money in a fraction of second. Yes, that's right! If you wanna make money in Forex trading, you either have to build up the network with so-call insiders (which seems a wasteful of time and energy to us); or, educate yourself well enough.

If you ever wish to get into this trading game, you better LEARN Forex trading before you start trading Forex. Forex market is definitely not a game for newbie and you need to brush up your skills before getting your hands wet.

Why are we recommending DashBoard FX?

Why are we recommending DashBoard FX?

Trade Forex with a team of advisors

When using DashBoard FX services, subscribers will get real time trade alerts, 6 days a week. These alerts are developed by a group of professional traders that focus 24-7 on the Forex market. With that, DashBoard FX subscribers actually own a team of professional FX traders monitoring the market for you.

Increase trade efficient and winning rate

Cut off the entire tedious routine job. DashBoard FX provides subscribers Market Analysis Gauges that are continually updating with streaming data as well as trade analytics based on quality fundamental and technical analysis. Plan your trade strategy instead of working out the details data manually; response faster to market changes and trade with higher efficient!

Get alert anywhere, anytime

DashBoard FX real-time trade signals and alerts are sent to subscribers via their software interface, emails, and mobile phone SMS. DashBoard FX subscribers can get alerted and trade Forex on and off from the desktop now.

Another plus point of their service is that it generates trading signals according to your trading style – signals like profit taking or stop-loss are sent differently to Day-trader and Swing-trader. This tailored the software/service suits different individual needs.

Forex Trading Automation Tools: DashBoard FX

Forex Trading Automation Tools: DashBoard FX

While researching for suitable Forex trading tools, we found DashBoard FX - a Forex trading tool you must have to success in Forex trading.

Quoting from how they define their service: “DashBoard FX is an institutional-quality Forex Trade Signaling & Market Analysis software package.” From what we see, DashBoard FX can be a ‘all-in-one’ trading tools as it provide real time market signaling service, detail analytics market data, and automated trade system. It is suitable for both Forex beginners and the experienced traders as the software/service allows users to obtain trade signals, market analysis as well as trading currency easily.

Why use Trading Tool for Forex trading?

Why use Trading Tool for Forex trading?

Isn’t painful if you have to

Sit in front of your PC all day long to monitor the Forex market?

Spending hours obtaining data and doing calculation to produce statistics data?

Work for even more hours converting statistics data to charts?

Lose money in the market after all the hard work you had done?

Stop wasting your time in doing routine ‘dummy’ job!

75% of the Forex traders lose their money in the market because they spend their time on unbeneficial work. They just simply trap themselves in all those tedious routine job and have not spend their time wisely in analyzing the market as well as plotting their trading strategies.

If you are serious about winning in Forex market, you need to avoid what the losing 75% are doing. Implement Forex trading tools that you can have on the Internet and spend your time in more beneficial things. Learn from the China ancient sayings: “To accomplish great achievement you must first have great tools”. To win in Forex market, you MUST have great tools.

ForexPros's Technical Analysis Learning Course

ForexPros's Technical Analysis Learning Course

Technical Analysis for Forex offers many insights on how currency market works. In ForexPro's lesson in technical analysis, you will benefit greatly from a good foundation in each type of insight and, perhaps, a specialty in one or two.

This course is designed to teach you classic Technical Analysis and form a rock solid decision support program, the foundation for everyone when it comes to trading.

You will learn to use charts and technical indicators in a clear, simple and concise manner to improve your trade entries and exits. Mike Mc Mahon will take you through the steps to creating high probability FX trades, using Charts, Trend lines, Support & Resistance and combining them so you have a clear picture of price, time, volume and the market expectations.

Here's a quick view on what you'll learn from the full course:

-Interpret Technical Indication like a Forex Pro

-Determine support and resistance and how it will affect your trading

-Use trend lines properly to predict better trade exit points

-Increase the probability of creating profitable trades

-Understand and using Oscillators

-Determine "probability" with Linear Regression and ATR

-Use trend lines to predict better trade exit points in combination with S&R Learn the Classic ----Continuation and Reversal Patterns

-Learn to overcome the TA Traps of the "Holy Grail syndrome" and the "Paralysis from Analysis" disease

What you will learn from the trading course?

What you will learn from the trading course?

By ordering Peter Bain's Forex trading course, you will get 7 hours CDs, DVDs, and books that reveal his Forex trading secrets.

More over, you are going to get 6 months free unlimited access to Peter Bain's Mentorship Website that give you daily video Q&A session, daily trading examples, daily streaming video lessons, daily pivot data, position trade alerts, pivot calculators, and connection to other Forex traders! In brief, here're what you'll learn:

-Learn how the Euro puts $700 on the table daily

-How to swing trade the Forex's trendy run ups and downs

-How to use the pivot system to trade the Forex with up to 70% accuracy

-How to use futures data to predict Forex trends

-How to avoid the pitfalls of "dumb money"

-How to follow daily steps for success

-How to recognize false buy/sell signals

-Review last 2 years of trading examples

Learn Forex trading from the Pro: Peter Bain's FX Mentor Course

Learn Forex trading from the Pro: Peter Bain's FX Mentor Course

Peter Bain is one of the few Forex professional traders who are willing to share his trade secrets. He was perhaps one of the first to enter the Forex when it became available for public trading in 1997.

He developed a trading system, namely Forex Pivot System, and he teaches that in his Forex trading course. The Forex Pivot System and his Forex course are so effective and he had helped thousands of average Forex traders achieve great success in their investments.

Why should I learn Forex currency trading?

Why should I learn Forex currency trading?

By reaching to our website, I think you are already aware that Forex trading is a good way to make money at home. More over, I bet you knew someone, or would have heard of someone, who's already making tons of good money in FX trading.

But what you wouldn't know is that 7 out of 10 traders keep losing money in Forex market! That's right, 70% of individual FX traders keep losing their hard-earned money in the market; while the rest of the 30% work freely at home and earn millions annually)

Wonder what differs between the losing 70% and the winning 30%?

Forex trading skills and the trading system! If you want to work less than 20 hours a day at home, if you want to make millions by trading freely at home, if you want to have financial freedom by trading Forex; you better LEARN Forex trading before you start trading Forex. Forex market is definitely not a game for newbie and you need to brush up your skills before getting your hands wet.