What is a currency pair?
A currency pair refers to the two currencies that are involved in a foreign exchange trade. For example, if you want to buy the Japanese Yen using U.S. Dollars, you would look at the quoted price for the USD/JPY currency pair (USD = U.S. Dollar; JPY = Japanese Yen). Basically, the currency pair you should be looking at depends on the currencies you wish to trade in. What Is A Base Currency? A base currency is the currency that is first mentioned in a currency pair. In the USD/JPY currency pair for example, the base currency is the USD. In the EUR/USD currency pair (EUR = Euros), the base currency is EUR. The base currency is the currency with which the quoted price refers to. For example, the quote USD/JPY 110.00 means that one unit of the base currency (i.e. USD) is worth 110.00 JPY. To clarify, here’s another example: EUR/USD 1.4600. This means that 1 unit of EUR is worth 1.4600 units of USD. To buy 1 EUR, you’ll need to trade in 1.4600 USD (i.e. sell 1.4600 USD). What Are Bid And As
A currency pair is the currency you are buying and the currency you are selling. For example, you might purchase Euros with US dollars. That’s a currency pair. What is a PIP? PIP stands for percentage in point. It is the smallest amount that a currency pair can change. As you delve further and further into the Forex trading world, you’ll have more questions. Your best bet is to arm yourself with knowledge about how the system works and how you can minimize your risks and maximize your profits. Forex trading is exciting and holds great promise for making money, but you must know what to do and when to do it. Take time to thoroughly research Forex trading and learn all you can, before jumping in. Forex trading online may be the fastest path to financial freedom and an end to all your financial worries. It truly is an excellent, if not THE best home business opportunity for ordinary people.You owe it to yourself to give it a try!!!
