Archive for June, 2008

Forex Order Types

There are some basic order types that all brokers provide and some others that sound weird. The basic ones are:

Market order
A market order is an order to buy or sell at the current market price. For example, EUR/USD is currently trading at 1.2140. If you wanted to buy at this exact price, you [...]

Why trade Forex?

Why Trade Foreign Currencies?
There are many benefits and advantages to trading Forex. Here are just a few reasons why so many people are choosing this market:

No commissions.
No clearing fees, no exchange fees, no government fees, no brokerage fees. Brokers are compensated for their services through something called the bid-ask spread.
No middlemen. Spot currency trading eliminates [...]

Using Stop-Loss in Forex

Investopedia.com defines stop loss hunting as: “A strategy that attempts to force some market participants out of their positions by driving the price of an asset to a level where many individuals have chosen to set their stop-loss orders… It is nothing more than the art of flushing the losing players out of the market“…

What does it [...]

What is Carry Trade?

You probably know that each different county sustains different monetary policies depending on their respective economies’ best interests, inflation perspectives, economic cycle, etc. I don’t want to get down into a full blown out course about macroeconomics here, so let’s just state that different countries carry different interest rates.
Well, Forex is nothing but the currency [...]

Spot Market and Currencies Traded

What is a Spot Market?
A spot market is any market that deals in the current price of a financial instrument.
Which Currencies Are Traded?
The most popular currencies along with their symbols are shown below:

Symbol
Country
Currency
Nickname

USD
United States
Dollar
Buck

EUR
Euro members
Euro
Fiber

JPY
Japan
Yen
Yen

GBP
Great Britain
Pound
Cable

CHF
Switzerland
Franc
Swissy

CAD
Canada
Dollar
Loonie

AUD
Australia
Dollar
Aussie

NZD
New Zealand
Dollar
Kiwi

Forex currency symbols are always three letters, where the first two letters identify the name of the country and [...]

Currency Converter

Want to try Currency Converter?
Instructions:

Choose your language from the list in the upper right corner. (English is the default.)
In the left scrolling list, choose the exchange unit you want to convert from. Drag the scrolling arrows to scroll through all selections. (All exchange units are listed with the name of their country first. For example, [...]

What is traded on the Foreign Exchange?

The simple answer is money. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY). Because you’re not [...]

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