Currency market is representation of Forex, the largest investment market with maximum numbers of currencies in the world. Being highly volatile market, currency market has $5 trillion’s daily turnover which incredibly enhances every year. The market works 24 hours from Sunday evening to Friday evening. The sessions are divided into three parts- Asian, European, and United States trading session. Main currencies of the market are traded during their market hours. Certain currency pairs have more volume during these session and pairs based on Dollar usually have more volume that of other pairs. In general, currencies pairs traded the most are –
EUR/USD- The Euro and the U.S. dollar
USD/JPY- The U.S. dollar and the Japanese yen
GBP/USD- The British pound sterling and the U.S. dollar
USD/CHF- The U.S. dollar and the Swiss franc
In Forex, you buy one currency in respect to other at certain value priced out to the fourth places of the decimal. In trading, accounts are divided in terms of pip, leverage, and depositing amount. A pip or percentage in point is the small increment to trade which is equal to 1/100. In general, a beginner trade in micro lots which represent only a 10 cent move in price making losses easy to manage for a trader. Similarly, there come mini lot having 1 pip equal to $1 and standard having 1 pip equal to $10. Now, the leverage! It is commonly as high as 100:0 which means you can trade up to $100,000 in value for a deposited amount of $1,000.
For an example, you buy the pair of GBP/USD at 1.2300 expecting that the USD will weaken while strengthening the other currency. Now, things happened in your favor and GBP/USD is now trading at 1.2380/1.1282 and you decided to sell the currency at 1.2380. Now, you bought at 1.2300 and sold at 1.2380 gaining a rise of 80 points. Right? So, the trade gave you $80 profit. However, not all trades are profitable but the difference will be count the same way of profits.
More and more people are investing in online currency trading in India. In past few years, currency trading platforms has improved to a great manner making traders more suitable for their investment goals. Increasing number of traders has given rise to the number of Forex brokers and then Forex signal provider like Daily Fx Signal.
Since a very long time, we have been providing best Forex signals to help traders managing their accounts without their involvement. If you are a beginner to this market or looking to manage your account by highly experienced professionals, we have unsurpassed solution for you. You do not need to invest anything initially. All you need to do is to contact for claiming your free forex signals before making real investment in our services. This will help you to trust on services before handling your capital to us.
We are offering first 10 days free trial for currency trading. Click the button and avail the offer now!