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Forex

Forex. By: Benjamin Hooker. What is Forex ?. Forex is the foreign currency market Forex is over-the-counter Markets are open around the clock. Liquidity. Forex is the most liquid financial market. Forex Market Organization. Major Currency Pairs. EUR/USD USD/JPY GBP/USD USD/CHF

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Forex

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  1. Forex By: Benjamin Hooker

  2. What is Forex? • Forex is the foreign currency market • Forex is over-the-counter • Markets are open around the clock

  3. Liquidity • Forex is the most liquid financial market

  4. Forex Market Organization

  5. Major Currency Pairs • EUR/USD • USD/JPY • GBP/USD • USD/CHF • USD/CAD • AUD/USD

  6. Terminology • Base currency – the first currency listed • Quote currency – the second currency listed • Pip – equal to 1/100 of a cent • Bid – price at which a currency is bought • Ask – price at which a currency is sold • Spread – difference between Bid and Ask

  7. Trading • Trades are either long or short • Going long is buying the base currency • Going short is selling the base currency

  8. Market Analysis • There are three types of market analysis • Technical Analysis • Fundamental Analysis • Sentiment Analysis

  9. Chart Types • There are three chart types • Line chart • Bar chart • Candlestick chart • Candlestick charts show the most data • They are also the most popular

  10. Leverage • Leverage makes trading more profitable • Major currency pairs offer 50:1 leverage • Minor currency pairs offer 20:1 leverage • This allows traders to buy more lots • Ex. To buy 100,000 of JPY/USD only $200 is needed

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