Assured hot tips for making at least $100 daily from forex trade
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Forex is from the word foreign exchange, which means the
simultaneous buying and selling of currencies like United States
Dollar (USD) Great Britain Pound (GBP)European Members(EUR) Switzerland Franc (CHF) Japanese Yen (JPY) Australian Dollar (AUD) Canadian Dollar (CAD) and New Zealand Dollar(NZD). These are the major traded currencies in the world market.
FOREX TRADE CONCEPT
1. Currencies must be paired together in the foreign exchange
market for trading transaction to take place i.e. EUR/USD
2. The first paired currency is the BASE (EUR) the second paired
currency is the QUOTE (USD)
3. The BASE currency is usually stronger in value than the QUOTE
4. Each currency pair comes with an exchange rate/price quotation i.e. EUR/USD = 1.4500
5. The exchange rate/price quotation I.E. EUR/USD = 1.4500 means it will take 1.45usd to buy 1 EUR (ignore the last two digits)
6. Exchange rate/price quotation is usually divided into two
prices which are BID price and OFFER price; the BID price is
SELLER’S price while the OFFER price is BUYER’S price.
7. The BID price will be clicked if the BASE (EUR) is believed to
depreciate in value, The OFFER price will be clicked if the BASE is believed to appreciate in value.
NOTE: as the value of the BASE increases, the value of the QUOTE decreases, as the value of the BASE decreases, the value of the QUOTE increases.
In a nutshell, it takes the value of one currency to increase for the other to decrease at the same time. Those that believe the BASE will appreciate in value are BUYERS while those that believe the QUOTE will appreciate in value are SELLERS.
Details
- Publication Date
- Jan 12, 2022
- Language
- English
- Category
- Business & Economics
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): Ikechukwu Oduah
Specifications
- Format