How to Make Money Trading Forex
Complete Solutions
How to Make Money Trading Forex - ANSWER-In the forex market, you buy or sell
currencies. The object of forex trading is to exchange one currency for another in the
expectation that the price will change. More specifically, that the currency you bought
will increase in value compared to the one you sold.
How to Make Money Trading Forex - ANSWER-*EUR 10,000 x 1.18 = US $11,800
** EUR 10,000 x 1.25 = US $12,500
For example, the EUR/USD exchange rate indicates how many euros can purchase one
U.S dollar, or how many U.S dollars you need to buy one euro
How to Read a Forex Quote - ANSWER-The reason they are quoted in pairs is
because, in every foreign exchange transaction, you are simultaneously buying one
currency and selling another.
How to Read a Forex Quote - ANSWER-Here is an example of a foreign exchange rate
for the British pound versus the U.S. dollar:
How to Read a Forex Quote - ANSWER-In the example above, you have to pay
1.51258 U.S. dollars to buy 1 British pound
How to Read a Forex Quote - ANSWER-When buying, the exchange rate tells you how
many units of the base currency you get for selling one unit of the quote currency.
How to Read a Forex Quote - ANSWER-When selling, the exchange rate tells you how
many units of the quote currency you get for selling one unit of the base currency.
How to Read a Forex Quote - ANSWER-The base currency is the "basis" for the buy or
the sell.
Long/Short - ANSWER-If you want to buy (which actually means buy the base currency
and sell the quote currency), you want the base currency to rise in value and then you
would sell it back at a higher price.
Long/Short - ANSWER-If you want to sell (which actually means sell the base currency
and buy the quote currency), you want the base currency to fall in value and then you
would buy it back at a lower price
The Bid, Ask and Spread - ANSWER-All forex quotes are quoted with two prices: the
bid and ask. For the most part, the bid is lower than the ask price
Complete Solutions
How to Make Money Trading Forex - ANSWER-In the forex market, you buy or sell
currencies. The object of forex trading is to exchange one currency for another in the
expectation that the price will change. More specifically, that the currency you bought
will increase in value compared to the one you sold.
How to Make Money Trading Forex - ANSWER-*EUR 10,000 x 1.18 = US $11,800
** EUR 10,000 x 1.25 = US $12,500
For example, the EUR/USD exchange rate indicates how many euros can purchase one
U.S dollar, or how many U.S dollars you need to buy one euro
How to Read a Forex Quote - ANSWER-The reason they are quoted in pairs is
because, in every foreign exchange transaction, you are simultaneously buying one
currency and selling another.
How to Read a Forex Quote - ANSWER-Here is an example of a foreign exchange rate
for the British pound versus the U.S. dollar:
How to Read a Forex Quote - ANSWER-In the example above, you have to pay
1.51258 U.S. dollars to buy 1 British pound
How to Read a Forex Quote - ANSWER-When buying, the exchange rate tells you how
many units of the base currency you get for selling one unit of the quote currency.
How to Read a Forex Quote - ANSWER-When selling, the exchange rate tells you how
many units of the quote currency you get for selling one unit of the base currency.
How to Read a Forex Quote - ANSWER-The base currency is the "basis" for the buy or
the sell.
Long/Short - ANSWER-If you want to buy (which actually means buy the base currency
and sell the quote currency), you want the base currency to rise in value and then you
would sell it back at a higher price.
Long/Short - ANSWER-If you want to sell (which actually means sell the base currency
and buy the quote currency), you want the base currency to fall in value and then you
would buy it back at a lower price
The Bid, Ask and Spread - ANSWER-All forex quotes are quoted with two prices: the
bid and ask. For the most part, the bid is lower than the ask price
