The foreign exchange market (forex, FX, or currency market) is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.
Saturday, 12 November 2011
Major Currency Pairs
The currency pairs listed below are considered the "majors". These pairs all contain the U.S. dollar (USD) on one side and are the most frequently traded. The majors are the most liquid and widely traded currency pairs in the world.
EUR/USD Euro zone / United States
USD/JPY United States / Japan
GBP/USD United Kingdom / United States
USD/CHF United States/ Switzerland
USD/CAD United States / Canada
AUD/USD Australia / United States
NZD/USD New Zealand / United States
Major Cross-Currency Pairs or Minor Currency Pairs
Currency pairs that don't contain the U.S. dollar (USD) are known as cross-currency pairs or simply as the "crosses." Major crosses are also known as "minors." The most actively traded crosses are derived from the three major non-USD currencies: EUR, JPY, and GBP.
Euro Crosses
EUR/CHF Euro zone / Switzerland
EUR/GBP Euro zone / United Kingdom
EUR/CAD Euro zone / Canada
EUR/AUD Euro zone / Australia
EUR/NZD Euro zone / New Zealand
Pound Crosses
GBP/CHF United Kingdom / Switzerland
GBP/AUD United Kingdom / Australia
GBP/CAD United Kingdom / Canada
GBP/NZD United Kingdom / New Zealand
Yen Crosses
EUR/JPY Euro zone / Japan
GBP/JPY United Kingdom / Japan
CHF/JPY Switzerland / Japan
CAD/JPY Canada / Japan
AUD/JPY Australia / Japan
NZD/JPY New Zealand / Japan
Other Crosses
AUD/CHF Australia / Switzerland
AUD/CAD Australia / Canada
AUD/NZD Australia / New Zealand
CAD/CHF Canada / Switzerland
NZD/CHF New Zealand / Switzerland
NZD/CAD New Zealand / Canada
now that you have known some basic fact about forex then follow us to the nursery school so that we can get started. click the nursery sub page link at the to right of this page. see you at the inside
What is Traded?
The simple answer is MONEY.
Because you're not buying anything physical, this kind of trading can be confusing.Think of buying a currency as buying a share in a particular country, kinda like buying stocks of a company. The price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.
When you buy, say, the Japanese yen, you are basically buying a "share" in the Japanese economy. You are betting that the Japanese economy is doing well, and will even get better as time goes. Once you sell those "shares" back to the market, hopefully, you will end up with a profit.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to other countries' economies.
By the time you graduate from this forex academy, you'll be eager to start working with currencies.
Currencies Are Traded in Pairs
Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).
When you trade in the forex market, you buy or sell in currency pairs.
Because you're not buying anything physical, this kind of trading can be confusing.Think of buying a currency as buying a share in a particular country, kinda like buying stocks of a company. The price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.
When you buy, say, the Japanese yen, you are basically buying a "share" in the Japanese economy. You are betting that the Japanese economy is doing well, and will even get better as time goes. Once you sell those "shares" back to the market, hopefully, you will end up with a profit.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to other countries' economies.
By the time you graduate from this forex academy, you'll be eager to start working with currencies.
Currencies Are Traded in Pairs
Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).
When you trade in the forex market, you buy or sell in currency pairs.
Studying Forex is crucial for beginners.
Studying Forex is crucial for beginners.
This is why we created the forex academy.
The forex academy is designed to help you acquire the skills, knowledge, and special abilities to become a successful trader in the foreign exchange market.
What is Forex?
Ok let us give this example. If you've ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet (if you're a dude) or purse (if you're a lady) into the currency of the country you are visiting.
You go up to the counter and notice a screen displaying different exchange rates for different currencies. You find "Japanese yen" and think to yourself, "WOW! My one dollar is worth 100 yen?! And I have ten dollars! I'm going to be rich!!!" (This excitement is quickly killed when you stop by a shop in the airport afterwards to buy a can of soda and, all of a sudden, half your money is gone.)
When you do this, you've essentially participated in the forex market! You've exchanged one currency for another. Or in forex trading terms, assuming you're an American visiting Japan, you've sold dollars and bought yen.
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed. It's these changes in the exchanges rates that allow you to make money in the foreign exchange market.
The foreign exchange market, which is usually known as "forex" or "FX," is the largest financial market in the world. Compared to the measly $74 billion a day volume of the New York Stock Exchange, the foreign exchange market looks absolutely ginormous with its $4 TRILLION a day trade volume
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