₦airaland Forum

Short GBP/USD @ 1.4152, tp 50pips,sl 25pips

abbeyforex:
Today's Pre-London Overview

Those that short EU,GU and GJ should be in greens by now,also those that Long USDCHF

As you may already know, the change in currency value relative to another is measured in “pips,” which is a very, very small percentage of a unit of currency’s value. To take advantage of this minute change in value, you need to trade large amounts of a particular currency in order to see any significant profit or loss.
Let’s assume we will be using a 100,000 unit (standard) lot size. We will now recalculate some examples to see how it affects the pip value.
1. USD/JPY at an exchange rate of 119.80(.01 / 119.80) x 100,000 = $8.34 per pip
2. USD/CHF at an exchange rate of 1.4555(.0001 / 1.4555) x 100,000 = $6.87 per pip
In cases where the U.S. dollar is not quoted first, the formula is slightly different.
1. EUR/USD at an exchange rate of 1.1930(.0001 / 1.1930) X 100,000 = 8.38 x 1.1930 = $9.99734 rounded up will be $10 per pip
2. GBP/USD at an exchange rate or 1.8040(.0001 / 1.8040) x 100,000 = 5.54 x 1.8040 = 9.99416 rounded up will be $10 per pip.
Your broker may have a different convention for calculating pip value relative to lot size but whichever way they do it, they’ll be able to tell you what the pip value is for the currency you are trading is at the particular time. As the market moves, so will the pip value depending on what currency you are currently trading.

What is leverage?
You are probably wondering how a small investor like yourself can trade such large amounts of money. Think of your broker as a bank who basically fronts you $100,000 to buy currencies. All the bank asks from you is that you give it $1,000 as a good faith deposit, which he will hold for you but not necessarily keep. Sounds too good to be true? This is how forex trading using leverage works.The amount of leverage you use will depend on your broker and what you feel comfortable with.

Typically the broker will require a trade deposit, also known as “account margin” or “initial margin.” Once you have deposited your money you will then be able to trade. The broker will also specify how much they require per position (lot) traded.
For example, if the allowed leverage is 100:1 (or 1% of position required), and you wanted to trade a position worth $100,000, but you only have $5,000 in your account. No problem as your broker would set aside $1,000 as down payment, or the “margin,” and let you “borrow” the rest. Of course, any losses or gains will be deducted or added to the remaining cash balance in your account.


Forex Lingo
You, the newbie, must know certain terms like the back of your hand before making your first trade. Some of these terms you’ve already learned, but it never hurts to do a little review.

Major and Minor Currencies
The eight most frequently traded currencies (USD, EUR, JPY, GBP, CHF, CAD, NZD, and AUD) are called the major currencies or the “majors.” These are the most liquid and the most sexy. All other currencies are referred to as minor currencies.

Base Currency
The base currency is the first currency in any currency pair. The currency quote shows how much the base currency is worth as measured against the second currency. For example, if the USD/CHF rate equals 1.6350, then one USD is worth CHF 1.6350.
In the forex market, the U.S. dollar is normally considered the “base” currency for quotes, meaning that quotes are expressed as a unit of 1 USD per the other currency quoted in the pair. The primary exceptions to this rule are the British pound, the euro, and the Australian and New Zealand dollar.

Quote Currency
The quote currency is the second currency in any currency pair. This is frequently called the pip currency and any unrealized profit or loss is expressed in this currency.

Pip
A pip is the smallest unit of price for any currency. Nearly all currency pairs consist of five significant digits and most pairs have the decimal point immediately after the first digit, that is, EUR/USD equals 1.2538. In this instance, a single pip equals the smallest change in the fourth decimal place – that is, 0.0001. Therefore, if the quote currency in any pair is USD, then one pip always equal 1/100 of a cent.
Notable exceptions are pairs that include the Japanese yen where a pip equals 0.01.

Pipette
One-tenth of a pip. Some brokers quote fractional pips, or pipettes, for added precision in quoting rates. For example, if EUR/USD moved from 1.32156 to 1.32158, it moved 2 pipettes.

Bid Price
The bid is the price at which the market is prepared to buy a specific currency pair in the forex market. At this price, the trader can sell the base currency. It is shown on the left side of the quotation.
For example, in the quote GBP/USD 1.8812/15, the bid price is 1.8812. This means you sell one British pound for 1.8812 U.S. dollars.

Ask/Offer Price
The ask/offer is the price at which the market is prepared to sell a specific currency pair in the forex market. At this price, you can buy the base currency. It is shown on the right side of the quotation.
For example, in the quote EUR/USD 1.2812/15, the ask price is 1.2815. This means you can buy one euro for 1.2815 U.S. dollars. The ask price is also called the offer price.

Bid/Ask Spread
The spread is the difference between the bid and ask price. The “big figure quote” is the dealer expression referring to the first few digits of an exchange rate. These digits are often omitted in dealer quotes. For example, the USD/JPY rate might be 118.30/118.34, but would be quoted verbally without the first three digits as “30/34.” In this example, USD/JPY has a 4-pip spread.

Quote Convention
Exchange rates in the forex market are expressed using the following format:
Base currency / Quote currency = Bid / Ask

Transaction Cost
The critical characteristic of the bid/ask spread is that it is also the transaction cost for a round-turn trade. Round-turn means a buy (or sell) trade and an offsetting sell (or buy) trade of the same size in the same currency pair. For example, in the case of the EUR/USD rate of 1.2812/15, the transaction cost is three pips.
The formula for calculating the transaction cost is:
Transaction cost (spread) = Ask Price – Bid Price

Cross Currency
A cross currency is any pair in which neither currency is the U.S. dollar. These pairs exhibit erratic price behavior since the trader has, in effect, initiated two USD trades. For example, initiating a long (buy) EUR/GBP is equivalent to buying a EUR/USD currency pair and selling GBP/USD. Cross currency pairs frequently carry a higher transaction cost.

Margin
When you open a new margin account with a forex broker, you must deposit a minimum amount with that broker. This minimum varies from broker to broker and can be as low as $100 to as high as $100,000.

Leverage
Leverage is the ratio of the amount capital used in a transaction to the required security deposit (margin). It is the ability to control large dollar amounts of a security with a relatively small amount of capital. Leveraging varies dramatically with different brokers, ranging from 2:1 to 1000:1.

Any Question ?

Its all about PEACEFUL WEALTH.

What is a Lot in Forex?
In the past, spot forex was only traded in specific amounts called lots. The standard size for a lot is 100,000 units. There are also a mini, micro, and nano lot sizes that are 10,000, 1,000, and 100 units respectively.

jamace:
Pls where do you get this chart from?

That is not as important as what you do with the info .

abbeyforex:
What do you all see to this summary in the diagram?

Those that short Eu,GU and GJ should be in greens now.

rightlagos:
What I have realised so far is dat many pple want to learn binary option/betonmarkets but have no prior knowledge of forex. Pls, rather than asking someone 2 teach u binary option, ask them 2 teach u forex cos forex is d basis. Learning d former b/4 d latter is like putting d cart b/4 d horse. @ hotprince, no need 2 brag abt ur acount. Na d calabash wey no get water dey sound. I am sure if u are a guru in bom u will not be asking abt site on binary option. As a professional, google: binary options site ranking, u will see d list & compare them. Be wise!

Well said,learn Forex Trading first and you can trade BO comfortably.

Today's Pre-London Overview

What do you all see to this summary in the diagram?

Technical Overview as of Friday 19th February,2016.

Now let’s take a look at some samples.
Margin Trading
When you go to the grocery store and want to buy an egg, you can’t just buy a single egg; they come in dozens or “lots” of 12.

In Forex, it would be just as foolish to buy or sell 1 euro, so they usually come in “lots” of 1,000 units of currency (Micro), 10,000 units (Mini), or 100,000 units (Standard) depending on your broker and the type of account you have (more on “lots” later).

“But I don’t have enough money to buy 10,000 euros! Can I still trade?”

You can with margin trading!

Margin trading is simply the term used for trading with borrowed capital. This is how you’re able to open $1,250 or $50,000 positions with as little as $25 or $1,000. You can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital.

What is a Pip in Forex?
Here is where we’re going to do a little math. You’ve probably heard of the terms “pips,” “pipettes,” and “lots” thrown around, and here we’re going to explain what they are and show you how their values are calculated.
Take your time with this information, as it is required knowledge for all forex traders. Don’t even think about trading until you are comfortable with pip values and calculating profit and loss.

What the heck is a Pip? What about a Pipette?
The unit of measurement to express the change in value between two currencies is called a “pip.” If EUR/USD moves from 1.2250 to 1.2251, that .0001 USD rise in value is ONE PIP. A pip is usually the last decimal place of a quotation. Most pairs go out to 4 decimal places, but there are some exceptions like Japanese Yen pairs (they go out to two decimal places).

Very Important: There are brokers that quote currency pairs beyond the standard “4 and 2″ decimal places to “5 and 3″ decimal places. They are quoting FRACTIONAL PIPS, also called “pipettes.” For instance, if GBP/USD moves from 1.51542 to 1.51543, that .00001 USD move higher is ONE PIPETTE.
As each currency has its own relative value, it’s necessary to calculate the value of a pip for that particular currency pair. In the following example, we will use a quote with 4 decimal places. For the purpose of better explaining the calculations, exchange rates will be expressed as a ratio (i.e., EUR/USD at 1.2500 will be written as “1 EUR/ 1.2500 USD”)

Example exchange rate ratio: USD/CAD = 1.0200. To be read as 1 USD to 1.0200 CAD (or 1 USD/1.0200 CAD)
(The value change in counter currency) times the exchange rate ratio = pip value (in terms of the base currency)
[.0001 CAD] x [1 USD/1.0200 CAD]
Or Simply
[(.0001 CAD) / (1.0200 CAD)] x 1 USD = 0.00009804 USD per unit traded

Using this example, if we traded 10,000 units of USD/CAD, then a one pip change to the exchange rate would be approximately a 0.98 USD change in the position value (10,000 units x 0.0000984 USD/unit). (We use “approximately” because as the exchange rate changes, so does the value of each pip move)

Here’s another example using a currency pair with the Japanese Yen as the counter currency.
GBP/JPY at 123.00
Notice that this currency pair only goes to two decimal places to measure a 1 pip change in value (most of the other currencies have four decimal places). In this case, a one pip move would be .01 JPY.
(The value change in counter currency) times the exchange rate ratio = pip value (in terms of the base currency)[.01 JPY] x [1 GBP/123.00 JPY]
Or Simply
[(.01 JPY) / (123.00 JPY)] x 1 GBP = 0.0000813 GBP

So, when trading 10,000 units of GBP/JPY, each pip change in value is worth approximately 0.813 GBP.

It makes sense when what you say is just A TIP OF THE ICEBERG OF WHAT YOU KNOW !

I may be off this thread till Monday, got some business meetings and seminar to attend today and social function tomorrow.


Any QUESTION?

Bid/Ask

All forex quotes are quoted with two prices: the bid and ask. For the most part, the bid is lower than the ask price.

The bid is the price at which your broker is willing to buy the base currency in exchange for the quote currency. This means the bid is the best available price at which you (the trader) will sell to the market.

The ask is the price at which your broker will sell the base currency in exchange for the quote currency. This means the ask price is the best available price at which you will buy from the market. Another word for ask is the offer price.

The difference between the bid and the ask price is popularly known as the spread.

On the EUR/USD quote above, the bid price is 1.34568 and the ask price is 1.34588. Look at how this broker makes it so easy for you to trade away money.
If you want to sell EUR, you click “Sell” and you will sell euros at 1.34568. If you want to buy EUR, you click “Buy” and you will buy euros at 1.34588.

@OP, I have just 2 questions for you before further talk-
Do you plan to be active in the business or u just want to be an Investor and earn passive income.

Kindly answer those questions but in the meantime, I will want to make you understand some things that can serve as clue for your answer.

- if you want to be active in the business,then know it that the return may not start coming immediately because you will have to take some time to learn the business and build it up.

Learning in this sense is Learning through experience,learning through being involved-this is not classroom learning.

-if you just want to be an Investor and earn passive income,then you will need to choose which investment portfolio and sector you want to invest in.

What I don't do I cannot tell you much on it but what I do I can defend it to any length. (Check my signature to know more about me) .

For those that asked you to invest in their Forex Account (which is my best advice if you want to be an investor), I will want you to request for some information from them so that they don't use your money as PRACTICE MONEY. -here are the question
*Ask for their last 12 months performance and see the kind of trader they are- Aggressive or Conservative
*Ask for their Maximum Drawdown.
*Ask for their Monthly Trading Target and what module they have to achieve the target on daily basis.

I hope they also should answer truthfully (if not I have a simple and singular way of scrutinising their response,if you will permit me ).

You also should answer this questions:
If the deal goes on well,you have said u are OK with monthly 10% but if it goes sour,how much of your #3million are you will to sacrifice? Every business looks good and lucrative, also every business looks bad and too risky,it depends on God on One Hand and the Coordinator's experience and ability on the other hand.

It is always good when what you say is just a TIP Of The Iceberg of what you know. Check my signature for my contact and I will tell you more.

Its all about PEACEFUL WEALTH.

Long/Short
First, you should determine whether you want to buy or sell. If you want to buy (which actually means buy the base currency and sell the quote currency), you want the base currency to rise in value and then you would sell it back at a higher price. In trader’s talk, this is called “going long” or taking a “long position.” Just remember: long = buy.

If you want to sell (which actually means sell the base currency and buy the quote currency), you want the base currency to fall in value and then you would buy it back at a lower price. This is called “going short” or taking a “short position”. Just remember: short = sell.

How to Read a Forex Quote
Currencies are always quoted in pairs, such as GBP/USD or USD/JPY. The reason they are quoted in pairs is because in every foreign exchange transaction, you are simultaneously buying one currency and selling another. Here is an example of a foreign exchange rate for the British pound versus the U.S. dollar:

The first listed currency to the left of the slash (“/”) is known as the base currency (in this example, the British pound), while the second one on the right is called the counter or quote currency (in this example, the U.S. dollar).

When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy one unit of the base currency. In the example above, you have to pay 1.51258 U.S. dollars to buy 1 British pound.
When selling, the exchange rate tells you how many units of the quote currency you get for selling one unit of the base currency. In the example above, you will receive 1.51258 U.S. dollars when you sell 1 British pound.

[b]The base currency is the “basis” for the buy or the sell. [/b]If you buy EUR/USD this simply means that you are buying the base currency and simultaneously selling the quote currency. In caveman talk, “buy EUR, sell USD.”

You would buy the pair if you believe the base currency will appreciate (gain value) relative to the quote currency. You would sell the pair if you think the base currency will depreciate (lose value) relative to the quote currency.

How to Make Money Trading Forex

In the forex market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple: the mechanics of a trade are very similar to those found in other markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.The object of forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.
Example in the diagram:

An exchange rate is simply the ratio of one currency valued against another currency. For example, the EURUSD exchange rate indicates how many EURO can purchase one U.S. dollars, or how many U.S. dollars you need to buy one EURO.

Forex History

At the end of the World War II, the whole world was experiencing so much chaos that the major Western governments felt the need to create a system to stabilize the global economy. Known as the “Bretton Woods System,” the agreement set the exchange rate of all currencies against gold. This stabilized exchange rates for a while, but as the major economies of the world started to change and grow at different speeds, the rules of the system soon became obsolete and limiting.

Soon enough, come 1971, the Bretton Woods Agreement was abolished and replaced by a different currency valuation system. With the United States in the pilot’s seat, the currency market evolved to a free-floating one, where exchange rates were determined by supply and demand.
At first, it was difficult to determine fair exchange rates, but advances in technology and communication eventually made things easier.
Once the 1990s came along, thanks to computer nerds and the booming growth of the internet, banks began creating their own trading platforms. These platforms were designed to stream live quotes to their clients so that they could instantly execute trades themselves.Meanwhile, some smart business-minded marketing machines introduced internet-based trading platforms for individual traders.
Known as “retail forex brokers”, these entities made it easy for individuals to trade by allowing smaller trade sizes. Unlike in the interbank market where the standard trade size is one million units, retail brokers allowed individuals to trade as little as 1000 units!

Retail Forex Brokers

In the past, only the big speculators and highly capitalized investment funds could trade currencies, but thanks to retail forex brokers and the Internet, this isn’t the case anymore.With hardly any barriers to entry, anybody could just contact a broker, open up an account, deposit some money, and trade forex from the comfort of their own home. Brokers basically come in two forms:

1. Market makers, as their name suggests, “make” or set their own bid and ask prices themselves and
2. Electronic Communications Networks (ECN), who use the best bid and ask prices available to them from different institutions on the interbank market.

“Trading requires timing.” Do you know WHEN you should trade?

Tokyo Session
The opening of the Tokyo session at 12:00 AM GMT marks the start of the Asian session. You should take note that the Tokyo session is sometimes referred to as the Asian session because Tokyo is the financial capital of Asia.One thing worth noting is that Japan is the third largest forex trading center in the world.

This shouldn’t be too surprising since the yen is the third most traded currency, partaking in 16.50% of all forex transactions. Overall, about 21% of all forex transactions take place during this session.

Here some key characteristics that you should know about the Tokyo session:
 Action isn’t only limited to Japanese shores. Tons of forex transactions are made in other financial hot spots like Hong Kong, Singapore, and Sydney.
 The main market participants during the Tokyo session are commercial companies (exporters) and central banks. Remember, Japan’s economy is heavily export dependent and, with China also being a major trade player, there are a lot of transactions taking place on a daily basis.
 Liquidity can sometimes be very thin. There will be times when trading during this period will be like fishing – you might have to wait a long, long time before getting a nibble.
 It is more likely that you will see stronger moves in Asia Pacific currency pairs like AUD/USD and NZD/USD as opposed to non-Asia Pacific pairs like GBP/USD.
 During those times of thin liquidity, most pairs may stick within a range. This provides opportunities for short day trades or potential breakout trades later in the day.
 Most of the action takes place early in the session, when more economic data is released.
 Moves in the Tokyo session could set the tone for the rest of the day. Traders in latter sessions will look at what happened during the Tokyo session to help organize and evaluate what strategies to take in other sessions.
 Typically, after big moves in the preceding New York session, you may see consolidation during the Tokyo session.

Which Pairs Should You Trade?
Since the Tokyo session is when news from Australia, New Zealand, and Japan comes out, this presents a good opportunity to trade news events. Also, there could be more movement in yen pairs as a lot of yen is changing hands as Japanese companies are conducting business.Take note that China is also an economic superpower, so whenever news comes out from China, it tends to create volatile moves. With Australia and Japan relying heavily on Chinese demand, we could see greater movement in AUD and JPY pairs when Chinese data comes in.

London Session

Just when Asian market participants are starting to close shop, their European counterparts are just beginning their day.
While there are several financial centers all around Europe, it is London that market participants keep their eyes on.
Historically, London has always been at a center of trade, thanks to its strategic location. It’s no wonder that it is considered the forex capital of the world with thousands of businessmen making transactions every single minute. About 30% of all forex transactions happen during the London session.

Here are some neat facts about European session:
 Because the London session crosses with the two other major trading sessions–and with London being such a key financial center–a large chunk of forex transactions take place during this time. This leads to high liquidity and potentially lower transaction costs, i.e., lower pip spreads.
 Due to the large amount of transactions that take place, the London trading session is normally the most volatile session.
 Most trends begin during the London session, and they typically will continue until the beginning of the New York session.
 Volatility tends to die down in the middle of the session, as traders often go off to eat lunch before waiting for the New York trading period to begin.
 Trends can sometimes reverse at the end of the London session, as European traders may decide to lock in profits.
Which Pairs Should You Trade?
Because of the volume of transactions that take place, there is so much liquidity during the European session that almost any pair can be traded.Of course, it may be best to stick with the majors (EUR/USD, GBP/USD, USD/JPY, and USD/CHF), as these normally have the tightest spreads.Also, it is these pairs that are normally directly influenced by any news reports that come out during the European session.You can also try the yen crosses (more specifically, EUR/JPY and GBP/JPY), as these tend to be pretty volatile at this time. Because these are cross pairs, the spreads might be a little wider though.

New York Session

Right as European traders are getting back from their lunch breaks, the U.S. session begins at 8:00 am EST as traders start rolling into the office. Just like Asia and Europe, the U.S. session has one major financial center that the markets keep their eyes on. We’re talking of course, about the “City That Never Sleeps” – New York City! The concrete jungle where dreams are made of!
Here are some tips you should know about trading during the New York session:

 There is high liquidity during the morning, as it overlaps with theEuropean session.
 Most economic reports are released near the start of the New York session. Remember, about 85% of all trades involve the dollar, so whenever big time U.S. economic data is released, it has the potential to move the markets.
 Once European markets close shop, liquidity and volatility tends to die down during the afternoon U.S. session.
 There is very little movement Friday afternoon, as Asian traders are out singing in karaoke bars while European traders head off to the pub to watch the soccer match.
 Also on Fridays, there is the chance of reversals in the second half of the session, as U.S. traders close their positions ahead of the weekend, in order to limit exposure to any weekend news.

Which Pairs Should You Trade?[b][/b]
Take note that there will be a ton of liquidity as both the U.S. and European markets will be open at the same time. You can bet that banks and multinational companies are burning up the telephone wires. This allows you to trade virtually any pair, although it would be best if you stuck to the major and minor pairs and avoid those weird ones.Also, because the U.S. dollar is on the other side of the majority of transactions, everybody will be paying attention to U.S. data that is released. Should these reports come in better or worse than expected, it could dramatically shake up the markets, as the dollar will be jumping up and down.

Infinitikoncept:
D cargo company I use charge that flat rate & since the communication is good I don't worry

Okay the greatest boss !

osile2012:
[size=18pt]Its 5.67CBM and they said they will charge $85 to ship to Nigeria. How much will the agent charge to clear it when it get s to Nigeria.?[/size]

Too good to be true, be watchful. $85 for 5.67CBM via sea? I pray it won't take ETERNITY for the goods to arrive

jamarionj:
Am still not through updating information. the main Information " (The Benefits Of Being An Entrepreneur Compared With Having A Paid Job!!!)"..
also, business ideas will be posted

Taking the front seat so that I can learn,unlearn and relearn .

Little Clarification on merchant store on Konga.

Some of us received the message in the attached picture this morning, the simple interpretation is just that those that either send Defected Items,Counterfeit items and Wrong items will now pay a little some for drop off and freight. This is in no wise applicable to return orders that came as a result of Customers changing their request. Its to be in alignment with Consumer Protection Commission Policy and may be to also separate the BOYS from the MEN.

Is your Plan B in place yet to curb this occurring to you? I know you wouldn't like to pay shipping fee for returned items,why not join us at PLAN B to learn how to avoid having return orders always?

It's all about PEACEFUL WEALTH.

Forex Market Players

Now that you know the overall structure of the forex market, let’s delve in a little deeper to find out who exactly these people in the ladder are. It is essential for you that you understand the nature of the spot forex market and who are the main forex market players.
Until the late 1990s, only the “big guys” could play this game. The initial requirement was that you could trade only if you had about ten to fifty million bucks to start with! Forex was originally intended to be used by bankers and large institutions, and not by us “little guys.” However, because of the rise of the internet, online forex brokers are now able to offer trading accounts to “retail” traders like us.
Without further ado, here are the major forex market players:

1. The Super Banks
Since the forex spot market is decentralized, it is the largest banks in the world that determine the exchange rates. Based on the supply and demand for currencies, they are generally the ones that make the bid/ask spread that we all love (or hate, for that matter).These large banks, collectively known as the interbank market, take on a ridiculous amount of forex transactions each day for both their customers and themselves. A couple of these super banks include UBS, Barclays Capital, Deutsche Bank, and Citigroup. You could say that the interbank market is the foreign exchange market.

2. Large Commercial Companies
Companies take part in the foreign exchange market for the purpose of doing business. For instance, Apple must first exchange its U.S. dollars for the Japanese yen when purchasing electronic parts from Japan for their products. Since the volume they trade is much smaller than those in the interbank market, this type of market player typically deals with commercial banks for their transactions.
Mergers and acquisitions (M&A) between large companies can also create currency exchange rate fluctuations. In international cross-border M&As, a lot of currency conversions happens that could move prices around.

3. Governments and Central Banks
Governments and central banks, such as the European Central Bank, theBank of England, and the Federal Reserve, are regularly involved in the forex market too. Just like companies, national governments participate in the forex market for their operations, international trade payments, and handling their foreign exchange reserves.Meanwhile, central banks affect the forex market when they adjust interest rates to control inflation. By doing this, they can affect currency valuation. There are also instances when central banks intervene, either directly or verbally, in the forex market when they want to realign exchange rates. Sometimes, central banks think that their currency is priced too high or too low, so they start massive sell/buy operations to alter exchange rates.

4. The Speculators
This is probably the mantra of the speculators. Comprising close to 90% of all trading volume, speculators as forex market players come in all shapes and sizes. Some have fat pockets, some roll thin, but all of them engage in the forex simply to make bucket loads of cash.


Any Question ?

The FX Ladder
Even though the forex market is decentralized, it isn’t pure and utter chaos! The participants in the FX market can be organized into a ladder. To better understand what we mean, here is a neat illustration in the diagram:

At the very top of the forex market ladder is the interbank market. Composed of the largest banks of the world and some smaller banks, the participants of this market trade directly with each other or electronically through the Electronic Brokering Services (EBS) or the Reuters Dealing 3000-Spot Matching.

The competition between the two companies – the EBS and the Reuters Dealing 3000-Spot Matching – is similar to Coke and Pepsi. They are in constant battle for clients and continually try to one-up each other for market share. While both companies offer most currency pairs, some currency pairs are more liquid on one than the other.

For the EBS plaform, EUR/USD, USD/JPY, EUR/JPY, EUR/CHF, and USD/CHF are more liquid. Meanwhile, for the Reuters platform, GBP/USD, EUR/GBP, USD/CAD, AUD/USD, and NZD/USD are more liquid.All the banks that are part of the interbank market can see the rates that each other is offering, but this doesn’t necessarily mean that anyone can make deals at those prices.
Next on the ladder are the hedge funds, corporations, retail market makers, and retail ECNs. Since these institutions do not have tight credit relationships with the participants of the interbank market, they have to do their transactions via commercial banks. This means that their rates are slightly higher and more expensive than those who are part of the interbank market.

At the very bottom of the ladder are the retail traders. It used to be very hard for us little people to engage in the forex market but, thanks to the advent of the internet, electronic trading, and retail brokers, the difficult barriers to entry in forex trading have all been taken down. This gave us the chance to play with those high up the ladder and poke them with a very long and cheap stick.

Trading Spot FX is Decentralized
Unlike in trading stocks or futures, you don’t need to go through a centralized exchange like the New York Stock Exchange with just one price. In the forex market, there is no single price that for a given currency at any time, which means quotes from different currency dealers vary.

“So many choices!Awesome!”

This might be overwhelming at first, but this is what makes the forex market so freakin’ awesome! The market is so huge and the competition between dealers is so fierce that you get the best deal almost every single time. And tell me, who does not want that? Also, one cool thing about forex trading is that you can do it anywhere.

Infinitikoncept:
First is 1.35*0.86*1.8=2.09cbm
Per CBM freight plus clearing from Guangzhou to Lagos is around 70k so total will be around 150k for the first machine
Do the rest yourself

Sea Cargo:
Freight : 130USD/CBM plus
Clearing : #28,000/CBM (If not contraband)
Clearing#52,000/CBM (Contraband)

osile2012:
[size=18pt]Thanks one is 1350*860*1800mm the other is 110*65*75cm and 550*500*1150mm which company do i tell them to send to ?[/size]

Ask them for the CBM first.

winetapper:
In addition to what Mr Moses said.
Please if there is any way we charged you higher than out $8 flat rate please let us maybe scammers are up to something.

On issue of inspection of goods that is actually what makes us unique among other procurement company.

Please if there is anyway we have failed in executing our service please let us know online or offline so we would look into it to immediately so we can prevent future issues like that reoccurring.

Good day Pastor

Cc Aleairhub
Abbeyforex

Good talk @ My Original Digital Winetapper.

pastormellanby:
Their charges is too high compare to other logistics services, and they don't check the goods properly before their arrivals in Nigeria, shine your eyes well well.

Who ?