Everything You Need to Know About Forex Trading – Forex Prime Limited

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

1. What is forex trade?
2. Terminologies used in forex trade
3. Charts used in forex trade
4. Our services

Forex Trading

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

1. A forex account that can be  ofthree types.
   1. 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).
   2. Mini forexaccounts allow you to  transaction up to $10,000 worth of currencies in one lot.
   3. Standard accounts allow you to transaction  up to $100,000 worth of currencies in one lot.

2. To buy a currency at lowest is called ask or offerand to sell a currency at highest is called a Bid
3. When price decline is calledbear market and when price increase is called bull market.
4. A contract for difference (CFD)is an contract  that enables traders to gamble  price movements  without actually owning the underlying asset.
5. Leverage is to   borrowed certain amount of money  to multiply returns.
6. Margin levelis  how stable  is your trading account ?
7. Pipis a “percentage in point” or “price interest point.
   1. One pip = 0.0001
   2. One hundred pips = 1 cent
   3. 10,000 pips =o $1
   4. As a standard each pip is equal to $10.

The price of a pip vary depending upon the broker

8. A  difference between the bid (sell) price and ask (buy) price for a currency is called spread
9. 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.

Our Services

1. We are available 24 hours 5 day and half a week
2. Providing valid information about account opening
3. Helping in managing the account
4. Helping the clients to read charts
5. Providing 1500- 2750 and pips per week with detail analysis and information
6. Providing information  about XAUUSDgold master
7. As it’s a complex dynamic and volatileenvironmentso we provide 5 to 9 signal per day

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