Greetings! we are “FOREX PRiME LIMITED” providing many facilities but first lets haves a quick and a simple overview about forex trading
Here we will discuss
- What is forex trade?
- Terminologies used in forex trade
- Charts used in forex trade
- Our services
The foreign exchange ( forex or FX or currency) market is an international marketplace open 24 hours a day five and a half week for exchanging national currencies into another to buy and sell good service locally and internationally.All the transaction are conducted electronically (OTC)over the counter around the world with price quotes change constantly andactively.
It’s a volatile or a tensed market where you have to make wise profit based decision at spot forward and future market .The criteria depends upon many factors like supply and demand, current interest rates, economic performance, political situations (both locally and internationally), and the future performance of a currency.
Forward and future market donot deal with the actual currency they deal with contract claiming the currency rate and to avoid big risk (fluctuation in the market due to geo political risk).
Main office are located in Frankfurt, Hong Kong, London, New York, Paris, Singapore, Sydney, Tokyo, and Zurich—across the world with matching time zone.It’s a bigger liquidfish market having larger or smaller investor locally international , banks with regular or unregular dealer broker quote or requote a price or bids with the customer or against the customer.
- It’s a decentralized market once should have a good grip about geo economic to make a right strategy at a right time.
Terminologies UsedIn Forex Trade
- A forex account that can be ofthree types.
- Micro forex accounts allow you to do a transaction up to $1,000 worth of currencies in one lot( standard lot is the equivalent of 100,000 units of the base currency).
- Mini forexaccounts allow you to transaction up to $10,000 worth of currencies in one lot.
- Standard accounts allow you to transaction up to $100,000 worth of currencies in one lot.
- To buy a currency at lowest is called ask or offerand to sell a currency at highest is called a Bid
- When price decline is calledbear market and when price increase is called bull market.
- A contract for difference (CFD)is an contract that enables traders to gamble price movements without actually owning the underlying asset.
- Leverage is to borrowed certain amount of money to multiply returns.
- Margin levelis how stable is your trading account ?
- Pipis a “percentage in point” or “price interest point.
- One pip = 0.0001
- One hundred pips = 1 cent
- 10,000 pips =o $1
- As a standard each pip is equal to $10.
The price of a pip vary depending upon the broker
- A difference between the bid (sell) price and ask (buy) price for a currency is called spread
- To buy and sell currencies having large or maximum profits is called sniping and hunting.
Charts Used In Forex Trading
Bar charts and Liner charts and Candlestick Charts are used to give pictorial image of a market. In lines chart line is used as a starting point for analysis, bar chart to determine whether its buyer or seller market .
Candlesticks display the high, low, opening, and closing prices for a specific time frame is called hanging man and the other that indicate the top and turn around (U-turn)the price is called shooting star candlesticks.
All represents a pictorial picture of forex market but the most important is the shooting star. You should know how to read these charts to get a clear image of a market to take right decision at right time.
- We are available 24 hours 5 day and half a week
- Providing valid information about account opening
- Helping in managing the account
- Helping the clients to read charts
- Providing 1500- 2750 and pips per week with detail analysis and information
- Providing information about XAUUSDgold master
- As it’s a complex dynamic and volatileenvironmentso we provide 5 to 9 signal per day
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