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INTRODUCTION TO FOREX

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INTRODUCTION TO FOREX

Post by Jacq Stone on Thu Sep 22, 2011 10:52 pm



In Forex, currencies are traded in pair; for example the US dollar and the Japanese Yen (USD/JPY). When you buy US dollar, means you are buying share in United States economy and you are thinking of potential rising of the current and future health of US economy. Overall, the exchange rate of Forex market is the ratio of one currency's value against another currency and it is alike the comparison between condition of two country's economy. The entire Forex market operates 24 hours a day, 5 days a week, in a network of banks. The cash markets are fully decentralized, so there are no official opening and closing hours for Forex trading.

The Forex operations do not refer to currencies by their full names because it is long and tiresome. Relatively, they use standardized codes, developed by International Standardization Organization (ISO) and known as ISO codes. As shown in table 1, ISO codes always contain three letters, which the first two letters identify the name of country while the last letter identify the name of that country's currency.

CURRENCY ISO CODE
United States dollar USD
European Members Euro EUR
Great Britain Pound GBP
Japanese Yen JPY
Canadian Dollar CAD
Swiss Franc CHF
Australian Dollar AUD
New Zealand Dollar NZD
Singapore Dollar SGD
Table 1 : The ISO codes for the most commonly traded currencies

Among all the currencies, the US dollar is the most popular traded currency as shown in figure 1. The Euro is the second while the Japanese yen and the British pound are almost similar and are the third.

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Re: INTRODUCTION TO FOREX

Post by spirit86 on Mon Sep 26, 2011 7:12 am

Hi, Thanks for your useful posting... this posting seems to be a good thread for newbies..

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Re: INTRODUCTION TO FOREX

Post by Amar431 on Mon Jun 11, 2012 3:58 am

Great one..

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Re: INTRODUCTION TO FOREX

Post by sohagm700 on Tue Apr 29, 2014 7:24 am

Forex currency pairs are traded; For example, the U.S. dollar and the Japanese Yen (USD / JPY). One U.S. dollar when you purchase in the U.S. economy, a portion of the purchase and current health and future of the U.S. economy of any progress we think market demektir.forex all the money in other currencies are by the ratio of the value of money and the Forex market 24 hours a day, week 5 is fully distributed network market day and try pankkien.kass taloudelle.koko comparison of both opening and closing times as any similar official for forex trading.

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Re: INTRODUCTION TO FOREX

Post by sohagm700 on Sun May 04, 2014 9:32 am

Hello, thank you for posting useful ... This thread question appears to be good to start ..

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Nice

Post by olixlite on Mon Jul 21, 2014 9:29 pm

spirit86 wrote:Hi, Thanks for your useful posting... this posting seems to be a good thread for newbies..

This post is just perfect for newbies I must say too, it gives an around summary to basics in forex. Which is what every forex beginner should be familiar with. The post here can be a useful guide to all those interested in forex, though there are definitely more to learn othere this.
But this can be a good start for newbies.

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Re: INTRODUCTION TO FOREX

Post by olixlite on Thu Jun 09, 2016 9:40 pm

I think forex is dynamic and so are the brokers in the market, recently my broker just upgraded their bonus offer.
It was a shocker when I saw it on the page.
I was surprised to see a 500% bonus promotion...It is really huge, the offer scared me at first, but after much inquiry it turned out to be real.
Bonus offer can be a great add for newbies, especially to get the needed aid and confidence.

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Re: INTRODUCTION TO FOREX

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