Despite the fact that Forex is considered as the largest financial market within the whole world, it is comparatively an unfamiliar terrain for a retail trader. So whether you are a newbie when it comes to FX or you consider yourself as someone who need a refresher course about the few basics of currency trading, it is important to gear yourself with as much information that you can get so you will be guided well.
Which currency can be traded?
In spite that there are some traders who would exhaust their way to trade exotic currencies like Czech koruna or Thai baht, still the majority of trader would opt for the seven most liquid currency pairs there is in the world, some of the four majors would include:
" EUR/USD (euro/dollar)
" GBP/USD (British pound/dollar)
" USD/JPY (dollar/Japanese yen)
" USD/CHF (dollar/Swiss franc)
The three commodity pairs on the other hand would include:
" USD/CAD (dollar/Canadian dollar)
" AUD/USD (Australian dollar/dollar)
" NZD/USD (New Zealand dollar/dollar)
Furthermore, when talking about currency trading, you should also learn about the jargons that are commonly used in the market. Here are some of them that you should get acquainted to:
" Cable, sterling, pound - used for GBP
" Aussie - nickname given to Australian dollar
" Greenback, buck - used for U.S. dollar
" Swissie - short name for Swiss franc
" Kiwi - nickname for New Zealand dollar
" Loonie, the little dollar - refer to Canadian dollar
" Yard - a billion units
" Figure - FX term which simply mean a round number like 1.2000
Do you want know how to make thousands of dollars whilst sitting in your armchair? The Forex Trading Market can earn you a lot of money.
Which currency can be traded?
In spite that there are some traders who would exhaust their way to trade exotic currencies like Czech koruna or Thai baht, still the majority of trader would opt for the seven most liquid currency pairs there is in the world, some of the four majors would include:
" EUR/USD (euro/dollar)
" GBP/USD (British pound/dollar)
" USD/JPY (dollar/Japanese yen)
" USD/CHF (dollar/Swiss franc)
The three commodity pairs on the other hand would include:
" USD/CAD (dollar/Canadian dollar)
" AUD/USD (Australian dollar/dollar)
" NZD/USD (New Zealand dollar/dollar)
Furthermore, when talking about currency trading, you should also learn about the jargons that are commonly used in the market. Here are some of them that you should get acquainted to:
" Cable, sterling, pound - used for GBP
" Aussie - nickname given to Australian dollar
" Greenback, buck - used for U.S. dollar
" Swissie - short name for Swiss franc
" Kiwi - nickname for New Zealand dollar
" Loonie, the little dollar - refer to Canadian dollar
" Yard - a billion units
" Figure - FX term which simply mean a round number like 1.2000
Do you want know how to make thousands of dollars whilst sitting in your armchair? The Forex Trading Market can earn you a lot of money.
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