Forex Online Trading For Every One

Online trading is a vast field and there are many opportunities for almost every person. People who are already in some kind of business can also join this field of online trading. Even people with less or no experience can make money with online trading. Intellitraders is great platform to make online trading for everyone. Everyone can learn Forex trading, options trading, stock trading, trading software etc. from the platform of Intellitraders. Here is a brief description of Forex trading online for beginners.

Currencies are Traded in Pairs:

Forex trading is the currency trading business i-e buying of one currency and selling the other at the same time. Currencies are traded in pairs, which mean that you are trading one currency for another. Here are some of the currency pairs that traders use while doing Forex trading. Everyone can trade in any currency and there is no restriction or compulsion in using the following currencies.

EUR/USD = Euro / US Dollar

GBP/USD = Pounds Sterling/ US Dollar

USD/JPY = US Dollar / Japanese Yen

USD/CHF = US Dollar / Swiss Franc

USD/CAD = US Dollar / Canadian Dollar

AUD/USD = Australian Dollar / US Dollar

NZD/USD = New Zealand Dollar / US Dollar

Reading Forex Quote:

Reading a FOREX quote may seem a bit confusing at first. But this is not the case in real. When you see Forex quotes you will actually see two numbers. The first number is called the bid and the second number is called the offer/ask. If we use the USD/ EUR as example xxx.xx/yyy.yy the first number xxx.xx is the bid price and is the price traders are prepared to buy USD against the EUR. The second number yyy.yy is the offer price and is the price traders are prepared to sell the USD against the EUR. The first currency is the base currency. The value of the base currency is always 1.

Forex Fundamental Analysis:

Fundamental analysis in Forex is a type of market analysis which involves studying of the economic situation of countries to trade currencies more effectively.

Forex Technical Analysis:

Technical Analysis refers to learn Forex market using charts and indicators to predict the future price of a security.

Economic Calendar:

Economists create economic calendars to predict different economics figures and values according to previous month’s data.

Article Source: http://www.intellitraders.com