David_Warner Posted July 30, 2015 Share Posted July 30, 2015 The type of currency you are spending, or getting rid of, is the base currency.The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another. The exchange rate tells you how much you have to spend in quote currency to purchase base currency. A long position means that you want to buy the base currency and sell the quote currency. In our example above, you would want to sell U.S. dollars to purchase British pounds. A short position means that you want to buy quote currency and sell base currency. In other words, you would sell British pounds and purchase U.S. dollars. The bid price is the price at which your broker is willing to buy base currency in exchange for quote currency. The bid is the best price at which you are willing to sell your quote currency on the market. The ask price, or the offer price, is the price at which your broker will sell base currency in exchange for quote currency. The ask price is the best available price at which you are willing to buy from the market. A spread is the difference between the bid price and the ask price. Quote Link to comment Share on other sites More sharing options...
Stekin Posted August 15, 2015 Share Posted August 15, 2015 That is good. Knowing Forex terminologies is good because when you understand basic things about Forex, you will not be thrown up and down in any manner by certain tutors or skill acquisition sites. That is also the main reason why it is in it's own important to take the basic knowledge about Forex so serious because it is the first step to success. Quote Link to comment Share on other sites More sharing options...
myregister Posted November 30, 2015 Share Posted November 30, 2015 That is good. Knowing Forex terminologies is good because when you understand basic things about Forex, you will not be thrown up and down in any manner by certain tutors or skill acquisition sites. That is also the main reason why it is in it's own important to take the basic knowledge about Forex so serious because it is the first step to success. But knowledge without experience is useless, you won't make profit from that knowledge unless you are the one who can speak very well and might want to create a product or guide or even a seminar for people who interest in foreign exchange. As for basic terminologies understanding, a trader will be able to discuss with someone who has experience without much problem. Quote Link to comment Share on other sites More sharing options...
Gee Dee Posted April 25, 2020 Share Posted April 25, 2020 A choice represents an agreement that gives its buyer the right, yet not the commitment, to buy or sell a fundamental resource a stock, a ware, a currency pair, or a record at a price at the very latest a specific date. It is an agreement with carefully characterized terms and properties. A choice is essentially an agreement firmly related to the basic resource. Thus, choices are called subsidiary instruments, which implies that they get their incentive from the estimation of the hidden base resource. 1 Quote Link to comment Share on other sites More sharing options...
Rainbringer Posted April 28, 2020 Share Posted April 28, 2020 You need to know the terminology, without them you can get confused Quote Link to comment Share on other sites More sharing options...
Kataxe Posted April 28, 2020 Share Posted April 28, 2020 All information is available on the Internet. Quote Link to comment Share on other sites More sharing options...
Axeray Posted May 1, 2020 Share Posted May 1, 2020 Over time, knowledge of the terms will come on its own, but it is better not to put it off for later. Quote Link to comment Share on other sites More sharing options...
Fausi Posted May 10, 2020 Share Posted May 10, 2020 Before you begin, it is advisable to familiarize yourself with their description, after which the trading process will become more understandable and simple for you. Quote Link to comment Share on other sites More sharing options...
Elowina Posted May 11, 2020 Share Posted May 11, 2020 Thanks for this info. Im starting in forex and comments also helped. Quote Link to comment Share on other sites More sharing options...
Mezigis Posted May 12, 2020 Share Posted May 12, 2020 You should not even start trading until you learn all the terms Quote Link to comment Share on other sites More sharing options...
Thorgagar Posted May 15, 2020 Share Posted May 15, 2020 It is not a problem to understand and study terminology, but also to put it into practice. Quote Link to comment Share on other sites More sharing options...
Sandre Posted May 18, 2020 Share Posted May 18, 2020 Over time, knowledge of the terms will come on its own, but it's better not to put it off for later Quote Link to comment Share on other sites More sharing options...
Thonin Posted May 19, 2020 Share Posted May 19, 2020 Forex terminology can, of course, be studied well, but it’s best to see how professionals use it in practice. Quote Link to comment Share on other sites More sharing options...
Mezigis Posted May 22, 2020 Share Posted May 22, 2020 She is still very well understood when you start trading. Quote Link to comment Share on other sites More sharing options...
Cordawield Posted May 24, 2020 Share Posted May 24, 2020 The main concepts must be learned, without this it’s hard enough to trade Quote Link to comment Share on other sites More sharing options...
Mezigis Posted June 12, 2020 Share Posted June 12, 2020 There is nothing complicated in this terminology; the main thing is to understand how to put it into practice. Quote Link to comment Share on other sites More sharing options...
Fausi Posted June 14, 2020 Share Posted June 14, 2020 You can also watch the training video, how it is applied in practice Quote Link to comment Share on other sites More sharing options...
Vaabum Posted June 15, 2020 Share Posted June 15, 2020 I believe that this is the very minimum that every trader really needs to know. Otherwise, I see no reason to work with Forex at all. Quote Link to comment Share on other sites More sharing options...
Erienner Posted June 16, 2020 Share Posted June 16, 2020 there would be a desire, now in the network you can find so much that you can understand everything Quote Link to comment Share on other sites More sharing options...
boltushkin Posted June 17, 2020 Share Posted June 17, 2020 On 7/30/2015 at 5:31 PM, David_Warner said: The type of currency you are spending, or getting rid of, is the base currency.The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another. The exchange rate tells you how much you have to spend in quote currency to purchase base currency. A long position means that you want to buy the base currency and sell the quote currency. In our example above, you would want to sell U.S. dollars to purchase British pounds. A short position means that you want to buy quote currency and sell base currency. In other words, you would sell British pounds and purchase U.S. dollars. The bid price is the price at which your broker is willing to buy base currency in exchange for quote currency. The bid is the best price at which you are willing to sell your quote currency on the market. The ask price, or the offer price, is the price at which your broker will sell base currency in exchange for quote currency. The ask price is the best available price at which you are willing to buy from the market. A spread is the difference between the bid price and the ask price. Thanks what about reliable FX brokers? Can you suggest any? I tried Hotforex, Tickmill and IB, no issues so far. Quote Link to comment Share on other sites More sharing options...
Gee Dee Posted June 18, 2020 Share Posted June 18, 2020 FX currency rates are determined by futures trading on the interbank market or public exchanges. However, there may be small differences in exchange rates between banks. The value of the currency is affected by global traders (banks, governments, traders, algorithms) 24 hours a week. For example, if market participants consider the euro to be a better investment than the US dollar, the value of the euro will rise against the US dollar. As a result, the exchange rate fluctuates. Quote Link to comment Share on other sites More sharing options...
Mezigis Posted June 19, 2020 Share Posted June 19, 2020 The most important thing is not to be afraid then everything will work out Quote Link to comment Share on other sites More sharing options...
Vaabum Posted June 19, 2020 Share Posted June 19, 2020 In my opinion, without these minimal knowledge, you should not try working with Forex at all. After all, first training, and then the result. Quote Link to comment Share on other sites More sharing options...
gds221 Posted September 7, 2020 Share Posted September 7, 2020 In my opinion, the trader before starting work on the main account should work on the demo account to fully understand the process of work. I started in this industry myself with the Amarkets broker. I was pleased with the results. Quote Link to comment Share on other sites More sharing options...
Juleenelya Posted September 16, 2020 Share Posted September 16, 2020 there is really a lot of information in terminology, and you need to understand and know everything, because the outcome of your profit may depend on it Quote Link to comment Share on other sites More sharing options...
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