BillionairesForex

Orders in Forex trading: There are many types of orders available in online forex trading. One of the most popular is the  Pending Order . What is meant by  pending order? If you want to trade at your target level, but the current price is not yet at the price you want, so you need to place a  pending order  in the place you want. If the current price touches the  pending order , the  pending order  will turn into your trading position. As long as it is not touched, the  pending order  will be there until it is deleted. Limit order in Forex: This limit order is like we want the current price to return to the previous price. Like a bus left behind the passengers, and then a bus makes a U-turn to pick up passengers. There are two types of order limits, namely: i) Buy limit You will place a pending order below the current price. An example of the current price of EURUSD is 1.1300. You want to buy it at 1.12800. So, you can place a pending  ...

Lot size in Forex Trading: In the past, spot forex was only traded in a certain amount called   lot , or basically the   number of currency units  you would buy or sell. The standard size is 100,000 units of currency and below are examples of lots and units in standard type accounts. This type of account is used at different brokers. So, how to calculate the actual value of each 1 pip for different currency pairs?  Referring to the table above, when you trade on a standard account and buy 1 lot, this means you have bought 100,000 units of base currency. For example: After knowing the basics of pip and lot, how to calculate the amount of profit or loss? See the table below. For example,  in each position you decide to close the gain is 20 pips. Key Links: WHAT IS FOREX & WHY IT IS SUITABLE FOR EVERYONE? THE HISTORY OF FOREX WHAT IS TRADED IN FOREX? TYPES OF CURRENCY PAIRS HOW TO READ CURRENCY PAIRS BID PRICE, ASK PRICE & SPREAD To keep updated with m...

PIPS  or   Percentage   in Points refers to the  unit of measurement   for the difference in movement from one price level to another. Generally, forex currency pairs initially have 4 decimal points and 2 decimal points for the Yen pair. For example, you BUY EUR / USD at the price of 1.1200. If the current price is at 1.1201, this means the EURUSD price has risen by 10 pips. This also means that you are making a profit of 1 pip. And for the Yen pair, you buy USDJPY at 100.00. Suppose the price rises to 100.01, this means that the USDJPY price has increased by 1 pip. Along with the development of financial technology, many brokers are using up to  5 decimal points and 3 decimal points for the Yen currency pair. Basically, these brokers use ‘fractional pips’ or so-called ‘pipettes’. For example, you BUY EUR / USD at 1.12000. If the current price is at 1.12013, this means that the EURUSD price has increased by 13 pipettes/point or 1.3 pips. And if the Yen pair...

Have you ever been to a  Money Changer counter  to  exchange foreign currency ? There are two columns, namely the sell and buy columns. Similarly in online forex trading, these values are written in two prices namely bid & ask. The bid price is usually lower than the ask price. To understand it further, see the image below. There are 2 different tabs for  selling  and  buying . The first tab is  ‘sell by market’  and the second tab is  ‘buy by market’ . At the top of each tab, it has its own price. The price above the  ‘sell by market’  tab is called Bid Price while the price above the  ‘buy by market’  is called Ask Price. Bid Price  is the price at which a broker is willing to buy from a trader. If you sell EURUSD pair, you will sell at 1.3629. Ask Price  is the price at which the broker is willing to sell to the trader. If you buy the EURUSD pair, you will buy at the price of 1.3630. In the example above, ...

Currency Pair Generally, each currency has a three-letter symbol. The first two letters identify the name of the country while the third letter identifies the name of the country’s currency. For example  AUD (Australian Dollar), JPY (Japanese Yen), CHF (Swiss Francs),  and  CAD (Canadian Dollar). When trading currencies, trading is always done in pairs. You buy one currency, at the same time you sell another currency. When matching a currency pair, the first currency is referred to as the base currency and the second currency as the quote currency. The value of the base currency is fixed and unchanged which is 1. Quote currency has a variable value according to the market. When you buy, it means you have to pay using quote currency to buy 1 base currency. In the diagram above, you have to pay  1.1302 U.S. Dollars  to buy  1 Euro. While selling, the exchange rate shows how much quote currency you can get by selling 1 base currency. As an example of the pictu...

Currencies are divided into 2 which are   major  and   minor . Major currencies are the most frequently traded currencies namely   USD, EUR, GBP, CHF, JPY, AUD & CAD . While Minors currencies are currencies other than major currencies. The currency pair is divided into 2 types, namely  major pair  and  cross pair . Major pairs   are all currency pairs in which one pair is USD currency. Cross pairs   are all currency pairs that are not paired with the USD currency Key Links: What is Forex? History of Forex Trading? What are traded in forex ? To more refined information related to forex traded, Join us on Telegram Channel .

Forex trading  is the simultaneous purchase of one currency and the sale of another currency or buying and selling currency from one country to money from other countries. Currencies are traded through banks, brokers or dealers, and are traded in pairs. For example, the  Euro and US Dollar (EUR / USD) or US Dollar and Japanese Yen (USD / JPY). Forex trading can be confusing because you are not buying anything physically. When you buy a currency, try to think of it as if you were buying something inside a particular country. For example, when you buy the US Dollar, you are actually buying a share in the US economy. This is because currency prices are a direct reflection of the market on current and future issues of the US economy. Therefore, the exchange rate given against other currencies reflects the overall economic situation of the country, compared to the economies of other countries. Major currencies traded in forex: Key Links: What is Forex? History of Forex ? To more in...

What is history of Forex trading? In the past, the value of goods and services has been expressed by exchanging other goods or preferably called the barter system. The barter system is the oldest method of exchange and began in 6000 BC, introduced by Mesopotamia tribes. However, the barter system is realized not enough to meet the needs. One of the problems is what if one cannot find people who need each other’s goods. Thus, the means of payment or exchange are created in various forms. Among the mediums that have been used are shells, beads, rare stones, and metals. The most widely agreed upon is the use of metals such as Gold and Silver as exchange mediums. The governments that ruled at that time began to print their own ‘money’ by determining the rate of certain metals in it. In 1944, foreign exchange control was introduced in an effort to control the power of supply and demand, with the aim of structuring the world economic system in a way that would stabilize the volatile foreign ...

Forex (Foreign Exchange)   is the fastest-growing foreign currency exchange market in the world. Traditionally, it is a platform where governments, businesses, investors, tourists, and other interested parties exchange currencies with each other. There are sellers and there are buyers. This foreign exchange market takes place over the counter (OTC), which means no exchange center, no bourse. Traders are connected to each other regardless of time via phone, fax, and computer. Over the past 2 decades, the forex market has opened up to individual traders and this has exploded the popularity of the forex market worldwide. In 2019, the Bank of International Settlements (BIS) reported USD 6.6 trillion a day. Factors that makes forex suitable: There are several factors which makes forex suitable for everyone:   No fees  are charged whether clearing fees, exchange fees, employment fees .   Low transaction costs . There are many brokers that offer low spread value differences...