Do It Yourself FOREX Trading Course FREE - Business (3) - Nairaland
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| Re: Do It Yourself FOREX Trading Course FREE by cashkid: 7:38am On Jan 14, 2013 |
surveycash:i thought o f this when i saw this signal stuff,eventhough it is stil going 2 b helpful bt i thnk nt until we have fully understood d basics and rudiments of this forex stuff.Oga felix thanks 4 ur contributn bt i thnk it wul av bn beta if u can start teaching us d basics becos most pple cnt even understnd how to use d signal posted.@ survey cash,kudos and hope 2 become a stable and profitable forex trader frm ths ur great thread. 2 Likes |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 7:41am On Jan 14, 2013 |
cashkid: i thought o f this when i saw this signal stuff,eventhough it is stil going 2 b helpful bt i thnk nt until we have fully understood d basics and rudiments of this forex stuff.Oga felix thanks 4 ur contributn bt i thnk it wul av bn beta if u can start teaching us d basics becos most pple cnt even understnd how to use d signal posted.@ survey cash,kudos and hope 2 become a stable and profitable forex trader frm ths ur great thread. 1000 likes for you. |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 9:50am On Jan 14, 2013 |
Lesson 4: Forex Basics In our last class, we looked at "When You Can Trade" and took our time to extensively discuss it like the best time to trade is when the market is busiest. Ruggedcuzz asked "How do you measure if the volume is high enough to trade?" This is a very good question and we are going to answer it in our subsequent discussions. Today, we are going to proceed from where we stopped. In a bid to properly understand this business, we need to understand the language. This brings us to the topic "Forex Terminologies". If you are all set, take this down. Forex Terminologies Every trade has its own technical jargons associated with it. The understand of these terms is a rudiment to success in this business. Forex has lots of them and we'll take a look at some of the important ones for now. They include; Brokers - These are firms that provide currency traders (us) with access to a trading platform that allows us to buy and sell foreign currencies. A currency trading broker, also known as a retail forex broker, or forex broker, handles a very small portion of the volume of the overall foreign exchange market. Currency traders use these brokers to access the 24-hour currency market. Examples of forex brokers include Northfinace, marketiva, Node fx, Alpari, Liteforex, FXOpen, Hotforex, Xemarket, FXPro, Insta Forex. So, for the purpose of this class, we are going to be using Insta Forex Trading Platform - This is a software with a graphical interface used to trade currencies, equities, future, or options. This software is provided by the broker. There are different types of trading platform such as the Streamster and Metatrader, which is the most popular. Metatrader version 4(MT4) is the widely used. So, for the purpose of this class, we are going to be using Metatrader 4 as shown below  Meta trader 4 by Instaforex PIP - Price Interest Point or Percentage in Point is the smallest price change that a given exchange rate can make. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point - for most pairs this is the equivalent of 1/100 of one percent. PIP is the unit of measurement in forex just as Kilogram is the unit of mass. 1kg of rice could be N100 just as 1pip of EURUSD could be $10 depending on the lot. Now, what is lot? Lot - We'll continue from here.. |
| Re: Do It Yourself FOREX Trading Course FREE by Nairastake: 12:05pm On Jan 14, 2013 |
Nice one @OP Downloading Metatrader4 69% loading...... . . . . . . . . . Downloaded 100% |
| Re: Do It Yourself FOREX Trading Course FREE by presiade(m): 1:56pm On Jan 14, 2013 |
Come MODERATOR, stop hiding posts for nothing sake here o; We're here to learn! |
| Re: Do It Yourself FOREX Trading Course FREE by 2sexy(m): 6:17pm On Jan 14, 2013 |
Mr. Felix, I have an advice for you. Open your own thread and do what you are doing here there please. You are derailing. Respect yourself and people will respect you. 1 Like |
| Re: Do It Yourself FOREX Trading Course FREE by 2sexy(m): 6:18pm On Jan 14, 2013 |
Mr. Felix, I have an advice for you. Open your own thread and do what you are doing here there please. You are derailing and a COMPLETE DISTRACTION. Respect yourself and people will respect you. 1 Like |
| Re: Do It Yourself FOREX Trading Course FREE by presido07: 10:14am On Jan 15, 2013 |
@OPs,am part of dis class too well done bro we need good samaritans like this on dis FORUM |
| Re: Do It Yourself FOREX Trading Course FREE by Kaysalas(m): 10:40pm On Jan 15, 2013 |
surveycash:So help you God! i sent you a P.M. kindly reply. "kaysalas at yhoo dot come." |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 1:05pm On Jan 16, 2013 |
Lesson 4: Forex Terminologies cont'd Lot - This is the quantity of currencies you wish to trade. Just as we have standards for measurement such as a dozen [/b]of egg, a [b]litre [/b]of water, a [b]carton [/b]of biscuit, a [b]bag [/b]of rice,etc we have a [b]lot [/b]in forex. A bag of rice could be N10,000. If you cannot afford it, you could buy a derrica,a tin, a mudu, a plastic,etc. A standard lot in forex is worth $100,000 (N16 million). If you can't afford a standard lot, then you can buy 01.lot, 0.01lot or the multiples such as 0.1, 0.2, 0.3 etc depending on the size of your wallet. [b]Currency pairs - These are the currencies (products) we buy and sell. You can find them in the Market watch. The market watch serves as the warehouse where you fill all the currencies (products) you wish to buy and sell. Under it, you could even find precious metals such as gold and silver or the shares of fortune 500 companies like Amazon, ebay etc. This means, you can transact on these commodities. Currencies are always traded in pair. Meaning that, you always find two currencies married together. This is because you use one to buy the other. Example of currency pairs are EURUSD, GBPUSD, EURJPY, AUDUSD, USDNZD, USDCAD etc The 1st currency in the pair is called the base [/b]while the 2nd is the [b]quote. The base is called so because it forms the basis of comparison of the pair on your chart. This means, whatever goes on the chart, it is a direct interpretation of what the base currency is doing. If the chart goes up, it means the base goes up and vice versa. This is worth repeating "The base is called so because it forms the basis of comparison of the pair on your chart. This means, whatever goes on the chart, it is a direct interpretation of what the base currency is doing. If the chart goes up, it means the base goes up and vice versa" Understanding currency quote; To understand fx, you need to understand how to read the quote. How do you interpret GBPUSD = 1.6013/1.6016? GBP - Great Britain Pounds USD - United States Dollar You will notice the 1st 2 letters represent the name of the country while the 3rd represents her currency. Just as; NGN = Nigerian Naira GBPUSD = 1.6013/1.6016 means 1.6013 is the bid price 1.6016 is the ask price With 1pound, you can buy 1.6016 US Dollars Question; How many US dollars could you by with 20 pounds if GBPUSD = 1.6027/1.6030? Ask Price - This is the price the trader buys (broker sells) the base currency Bid price - This is the price the trader sells (broker buys) the base currency Spread - The difference between the bid & ask price is called the spread. This is where the broker makes his profit. If you go to the banks, you will see [img]http://www.currencynews.ws/wp-content/uploads/exchangerates.jpg[/img] The higher price is the ask while the lower one is the bid. In GBPUSD = 1.6013/1.6016, the spread is 1.6016 - 1.6013 = 0.0003 The 0.0003 is read as 3pips. The easiest way to determine the spread is to use the last 2 digits in the quote i.e 16 - 13 = 3pips ....To be continued... 3 Likes |
| Re: Do It Yourself FOREX Trading Course FREE by malachi2uk(m): 1:48pm On Jan 16, 2013 |
FOLLOWING U SIR...GOD BLESS U |
| Re: Do It Yourself FOREX Trading Course FREE by cashkid: 2:45pm On Jan 16, 2013 |
[quote author=surveycash][color=#006600]Lesson 4: Forex Terminologies cont'd Lot - This is the quantity of currencies you wish to trade. Just as we have standards for measurement such as a [b]dozen [/b]of egg, a [b]litre [/b]of water, a [b]carton [/b]of biscuit, a [b]bag [/b]of rice,etc we have a [b]lot [/b]in forex. A bag of rice could be N10,000. If you cannot afford it, you could buy a derrica,a tin, a mudu, a plastic,etc. A standard lot in forex is worth $100,000 (N16 million). If you to answer ur questn, i thnk wit 20gbp,u cn buy 20 X 1.6030 value of US dollars.i hope am correct.kudos 2 u sir. |
| Re: Do It Yourself FOREX Trading Course FREE by Tonjeola1(m): 3:25pm On Jan 16, 2013 |
Info here is enof to kick start, am following... |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 4:51pm On Jan 16, 2013 |
[quote author=cashkid][/quote] You are right. |
| Re: Do It Yourself FOREX Trading Course FREE by BelloSKK: 1:10am On Jan 17, 2013 |
rozayx5:Good day rozayx5, I have been looking for this wonderful opportunity to get mentors in forex trading. I really enjoy this initiative. belloaffiliatechecks@gmail.com. |
| Re: Do It Yourself FOREX Trading Course FREE by PallyG(m): 2:04am On Jan 17, 2013 |
NICE [color=#000000][/color] |
| Re: Do It Yourself FOREX Trading Course FREE by 2sexy(m): 7:51am On Jan 17, 2013 |
[size=30pt]NO SILLY ONE LOVE, FELIX[/size] If you truely believe in that love yourself, you would care about the learning curve of novices that are here. why distract them if you love, Why plot their failure if you love, why distratct them, why distort their experience and sour their mind? You think you know markteting buy spreading your silly free website you got from blogger.com in the hope that you will drive horde of traffic to your site? WRONG! I have been in this game for quite a long time and I know how to drive traffick to website and there is no other way other than offering value. If survey cash set up a website, people will rush to his own and will hardly go to yours because the difference is clear. I do not want to resort to insulting you BUT if you post another of that junk and rubbish you call signal here... I will personally take on myself to make sure that no one listen to you, either here or at the forex alert thread. ONLY A GOAT DOES NOT LISTEN... IF YOU ARE A GOAT, POST ANOTHER ONE... |
| Re: Do It Yourself FOREX Trading Course FREE by 2sexy(m): 7:54am On Jan 17, 2013 |
BelloSKK:bros, he does not mean FREE ooh because i KNOW when some talk like that, Nigerians will want to get info FREE and let me tell you, he is not cheap... if you can afford him, good. |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 9:33am On Jan 17, 2013 |
2sexy: [size=30pt]NO SILLY ONE LOVE, FELIX[/size] Thank you 2sexy. It's unfortunate Felix may not see this comment of your as he hardly reads them. 1 Like |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 10:08am On Jan 20, 2013 |
Good morning, Pls drop your questions, if any, so we can continue.. |
| Re: Do It Yourself FOREX Trading Course FREE by gankaza: 10:31am On Jan 20, 2013 |
My brother on my side no question, continue |
| Re: Do It Yourself FOREX Trading Course FREE by Manutd19: 11:07am On Jan 20, 2013 |
lol........So Felix is at it again. I will advise you all to learn and not fall into trap. I consider traders with proper knowledge of managing money(proper risk and money management) the real forex traders. Not those who tell you you can make................Learn, learn learn, practice, demo trade for at least 3 months. Then go live with half of the money you intends to start with until you are profitable 3-4 consecutive months. |
| Re: Do It Yourself FOREX Trading Course FREE by Democivil: 1:12pm On Jan 20, 2013 |
To me this guy{I mean Felix} has not done anything wrong. Its my opinion sha, cos all his alert are correct and have made me some cool cash last week. There is something i discover on nairaland, anytime somebody is given out something that will benefit others instead of encouraging him those who know the secret is real and are not happy because others will benefit from it will now be discouraging others by their post condemning the person releasing the secret. This is not good enough. so far so good, his alert from monday to friday last week was correct you guys can check it out am out of here. 1 Like |
| Re: Do It Yourself FOREX Trading Course FREE by cashkid: 3:37pm On Jan 20, 2013 |
[quote author=Democivil]To me this guy{I mean Felix} has not done anything wrong. Its my opinion sha, cos all his alert are correct and have made me some cool cash last week. There is something i discover on nairaland, anytime somebody is given out something that will benefit others instead of encouraging him those who know the secret is real and are not happy because others will benefit from it will now be discouraging others by their post condemning the person releasing the secret. This is not good enoug i thnk i av said it once that what felix is doing is nt bad bt i thnk it is more or less of distractn,a lot of us are beginners so even wat he has bn posting are more or less useless to most pple here,i thnk he shle open another thread for pple like that really knows how to use the signal and am sure we that are jst learning wil get there soon and by that time we wil all knw the importance of wat felix is puttimg here,but we c it as dirtractn to our learning trend. 1 Like |
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