Forex Pips

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Let’s talk about what PIP is now . ..

Currencies are traded on a price / point (PIP) system. Each currency pair has its own pip value. When you see a FOREX trading, you’ll see something listed like this : EUR / USD 1.2210/13

Explanation:

a) If you want to buy the EUR / USD (which means to buy euros and sell U.S. dollars) to buy and sell 100,000 EUROS U.S. $ 122,130, or in other words you receive U.S. $ 122,130 by 100,000.

b) If you want to sell the EUR / USD (meaning you BUY EUROS and sale of U.S. dollars) to buy U.S. $ 122,100 and sell 100,000 euros, in other words, which receives 100,000 euros to U.S. $ 122,100.

The difference between the bid and the selling price is called the spread. In the above example, the spread is 3 or 3 pips.

Since the U.S. dollar is the centerpiece of the FOREX market, which is normally considered the currency of the “basis” for quotes. In the “great”, this includes USD / JPY, USD / CHF and USD / CAD. For these and many other currencies, the prices are expressed as a unit of $ 1 USD per the second currency quoted in the pair.

For example, a budget of USD / CHF 1.3000 means that one U.S. dollar Therefore, you receive 1.30 Swiss francs. , In other words, you receive 1.30 Swiss francs per U.S. $ 1.

When the U.S. dollar is the basic unit and a currency quote goes up, it means the dollar has appreciated in value and the other currency has weakened. If the USD / CHF quote above increases to 1.3050 the dollar is stronger because now going to buy Swiss francs than before.

The three exceptions to this rule are the British pound (GBP), Australian dollar (AUD) and the Euro (EUR). In such cases, you may see a budget like the EUR / USD 1.2080, meaning that you get to the EURO U.S. $ 1.2080.

In these three currency pairs, where the U.S. dollar not the kind of basis, a budget increase means a weaker dollar because it now has more than U.S. $ to equal one euro, British pound or an Australian dollar.

In other words, if a currency quote goes up, increasing the value of the base currency. A lower price : the base currency is weakening.

Currency pairs that do not include the U.S. dollar are called cross currencies, but the calculation is the same. For example, a quote of EUR / JPY 134.50 means that one euro is equal to ¥ 134.50 Japanese.

How to buy (going “long”) and selling (going “short”) in the FOREX Market ? Note 2 very important rules :

RULE #1. Cut lose its operations and let their winning run operations.

You will have losing trades. Every Forex trader has. The secret is that a consistent, disciplined trader, at the end of the day, add more gain than to lose trade offices.

When you and see the graphics, no doubt you are in a losing trade, not keep losing money. Most novice traders are lowering their stop loss just to “prove they are right” or “hope that the market in reverse.” 99% of these trades, are ending up with more losses. The most profitable routes are usually “right” immediately.

Remember, smart traders know there are many other opportunities. Cut your losses and consisting of the winning positions.

Rule #2. NEVER join the Forex market without placing an order for Stop Loss.

Place an order for emergency stop, right along with their order of entry, through its online trading station, to avoid potential losses.

Before starting any business, you have to calculate at what point (price) would be a mistake, because the market changed direction, and who want to reduce their losses.

For profit in the FOREX, a trader can enter the market with a * buy position * (known as going “long”) or a * sell position * (known as going “short”).

As an example, suppose you have been studying the EURO. The euro is paired first with the U.S. dollar or USD.

Their forms of commerce, rules, strategies, etc., I say that the euro will rise in the next 2 weeks, so buying the EUR / USD which means that at the same time to buy euros and sell dollars.