Forex, FX, and Foreign exchange trading refer to the trading of foreign currency from one country’s currency to another in the Forex market.
Faq’s
Deaching of the great explorer of the truth the builder
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01
WHAT IS FOREX / FOREX TRADING?
Forex, FX, and Foreign exchange trading refer to the trading…
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02
WHAT IS THE FOREX MARKET?
The Forex market is the largest global financial market in…
The Forex market is the largest global financial market in the world with trillions of dollars changing hands every day. It is a global marketplace…
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03
WHEN IS THE FOREX MARKET OPEN?
The Forex market is open 24 hours a day from…
The Forex market is open 24 hours a day from Sunday at 5:00 pm EST / 10:00 pm GMT to Friday 5:00 pm EST /…
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04
WHAT ARE THE MAIN FOREX MARKET SESSIONS?
The Forex market hours are broken down into 4 trading…
The Forex market hours are broken down into 4 trading sessions: the New York session, the London session, the Tokyo session (or Asia session), and…
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05
WHAT DRIVES THE FOREX MARKET?
Some key drivers of the Forex markets include economic news…
Some key drivers of the Forex markets include economic news releases, central bank interest rates, central bank interventions, fear, greed, and the futures market.
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06
CAN THE FOREX MARKET CRASH?
No, the Forex market as a whole can not crash…
No, the Forex market as a whole can not crash like the stock market, unless one day currency ceases to exist. This is because each…
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07
WHAT ARE THE 8 MAJOR CURRENCIES OF THE WORLD?
The 8 major currencies include the US Dollar (USD), the…
The 8 major currencies include the US Dollar (USD), the Great Britain Pound (GBP), the Euro (EUR), the Japanese Yen (JPY), the Swiss Franc (CHF),…
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08
WHAT ARE THE MAJOR CURRENCY PAIRS?
These are the major currencies cooped with the US Dollar…
These are the major currencies cooped with the US Dollar (USD). These include: EUR/USD, GBP/USD, USD/CAD, USD/JPY, USD/CHF, AUD/USD, and NZD/USD.
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09
WHAT ARE THE MINOR CURRENCY PAIRS?
These are the major currencies paired with one another, that…
These are the major currencies paired with one another, that don’t include the US dollar (USD). These are also called cross pairs, and they include:…
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10
WHAT ARE SOME ADVANTAGES OF FOREX TRADING VS. STOCKS AND EQUITIES TRADING?
Lower barrier to entry, lower transaction costs, longer hours of…
Lower barrier to entry, lower transaction costs, longer hours of operation, higher leverage, higher liquidity and higher volume are just some advantages of Forex trading…
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11
HOW DO I DEVELOP A WINNING TRADING STRATEGY?
You must first test different trading styles and strategies to…
You must first test different trading styles and strategies to see what works best for you, then backtest until you find something that works consistently…
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12
HOW CAN I BACKTEST MY TRADING STRATEGY?
You can backtest by opening a demo trading account to…
You can backtest by opening a demo trading account to test your trading strategy, with the goal of seeing what type of performance you can…
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13
WHAT IS A ‘PIP’?
A “PIP” stands for Point in Percentage, and is the…
A “PIP” stands for Point in Percentage, and is the unit of measure used by forex traders to define the smallest change in value between…
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14
WHAT ARE LOTS / LOT SIZE?
Lots refer to the specific units traded with currency pairs,…
Lots refer to the specific units traded with currency pairs, which essentially means the number of currency units you wish to buy or sell. There…
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15
WHAT IS THE VALUE OF A PIP?
If your account is in US Dollars, and you are trading…
If your account is in US Dollars, and you are trading a pair with USD as the base currency (ex. EUR/USD), then the following is true: 1 pip…
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16
WHAT IS A JAPANESE CANDLESTICK?
Candlesticks (or Japanese candlesticks) is a style of chart used…
Candlesticks (or Japanese candlesticks) is a style of chart used to present price movements of a currency. Each candlestick represents a specific amount of time…
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17
WHAT IS THE SPREAD?
Spread is part of the cost you pay the broker…
Spread is part of the cost you pay the broker to open a position. It is the difference between the bid and ask price. The…
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18
WHAT IS LEVERAGE?
Leverage allows you to control a larger amount of money…
Leverage allows you to control a larger amount of money using a limited amount of your own. For example, with a $1,000 account trading on…