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The following article was published in our article directory on January 17, 2015.
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Basic Concepts in Forex Trading

Article Category: Finances

Author Name: Korley Tetteh

To be an expert in forex trading requires a lot of patience, training, and analysis. therefore, not everybody who is interested in buying and selling currencies can just jump into it without preparing and understanding its basic concepts such as pips, leverage, used margin, usable margin , and currency pairs. These are shorthand terms which are used to make the forex trading experience easier and simple.

Pips - if stock market has 'points' and futures use 'ticks', forex trading uses 'pips' to indicate the loss and the profit in the trade. Technically, currency pairs in forex are commonly quoted in four decimal places. The fourth digit in every quote is what is referred to as a 'pip'. For instance, if you have a EURO/USD pair equivalent to 1.3115 and it has gone up to 1.3118, it means that the EURO/USD pip has increased to 3. Take note that pips' value varies depending on the size of the trade and the currency which is used for trading.

Leverage - This is a technique to maximize profit by taking control of the money and the market on your account. Say you have leverage with a ratio of 50:1, you can use $1000 in trading while leaving $100 to serve as account deposit. But, leverage in forex trading is said to be a double-bladed sword. In as much as it increases your chance for profit, it also exposes you to higher risks of losing. Needless to say, it should always be used properly. Start trading in smaller amounts so that the risk will not be too high.

Used Margin - the symbol in the trading station for Used Margin is 'Usd Mr'. This indicates how much money you have set aside to support your open trading.

Usable Margin - this is an indicator of the amount of money on your account which can be used to open new trades or absorb probable losses. This is often symbolized by this is a tricky and more complicated concept than simple selling and buying. It is the principle of selling a currency that you borrowed compared to selling something you own. Currency pairs involve borrowing from a broker and selling it again. The range of difference of the original price when you borrowed the currency and when you traded it back to them is the trader's profit.

Additionally, beginners in forex trading have to understand the principles of fundamental analysis, technical analysis, and money management.

Fundamental analysis - this is an analysis of how the currency supply and demand is going. Factors such as economic status, political conditions, inflations, employment rate, and interests all need to be considered in this analysis.

Technical analysis - this is learning how to read forex charts. These charts are indicators of the trends and prices which can greatly influence trading decisions. Furthermore, charts can tell you when to continue and when to leave the trading.

Money management - every trader should learn to understand and gauge the potential percentage of risks and rewards before trading.

Figuring out which currency will go higher and which will go down will be hard without understanding these concepts. More importantly, they can greatly help in your over-all trading venture. Find out how to make wise trading decisions in the forex market to minimize your losses and enjoy long-term gains.

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