- PIP: A pip is a measurement of how far the price has moved.. pips are how traders generally measure their profit.. for example, the the exchange rate for EUR/USD is 1.3142 the pip is the last number after the decimal i.e the number 2.
- SPREAD: It is a fee your broker charges you to trade, i.e a cost for trading..
- BID: A bid is the best possible price at which the trader can buy the instrument being traded at the current time. In the fx market the bid price is the highest price the broker is to pay to purchase the instrument off of you.
- ASK: Ask in the forex market simply means the possible lowest price that the broker will sell the instrument to you.
- CHART: A chart is the vitual representation of the price action which is of great importance to the forex market analysis. It is what you use to observe the exchange rate/price of a currency pair over a period of time.
There are three types of chart patterns:
(1) Bar chart pattern
(2) Line Chart pattern
(3) Japanese candlestick pattern
No comments:
Post a Comment