Sorry all..my connection has been down that is why i have be unable to continue my posting and teaching..pls i am back now full time...hope you all will welcome me back..
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Sorry all..my connection has been down that is why i have be unable to continue my posting and teaching..pls i am back now full time...hope you all will welcome me back..
Today, i will be touching some of the important terms use in forex trading..
SPREAD;Spread is the difference between bid and ask price.brokers often gets their commission in form of a sread.
BID;Bid is the price the broker is willing to buy a currency pair from a trader or an investor.bid price often varies in relation to a currency pair and different brokers have different bid prices base on their commission ratio.
OFFER or ASK; This is the price the broker is willing to sell a currency pair to an investor or trader...like bid, offer also varies in relation to a currency pair.
pls i will continue from here on my next post..and feel free to contact me for enquiry and help
pls all,i am sorry for not making my post on daily basis..i will created for it as soon as possible..pls bear with me.
LEVERAGE:Leverage is the loaned amount a broker gives to a trader on deposit.different brokers have different leverage offer but the professionally accepted and recommended leverage is 1:100.this simply means that for every $100 u deposit u are automatically eligible to $10,000 as your buying power,
LOT:A lot is a volume of $10,000.most fx brokers require that u invest a minimum of a lot per trade, a $10,000 represents a $100 of real money.
PIP: A pip is a unit price movement in the fx market.most times a pip represent 1% in the fx market but principally depends on your trading volume...when exchange rates changes pips changes proportionately either increasing or decreasing depending on your analysis ..this exposure continue on my next post...stay tunned.