Do you know that forex is also another means of investment
FOREX TRADER PLATFORMS
FOREX refers to foreign currency transactions, one who makes his income by speculating on foreign currencies is known as a forex trader.
A market maker maker dealer broker in FOREX transactions does the same work a STOCK BROKER does in stock transactions. The onl difference is that a stockbroker charges commissions, a forex mmdb benefits from the spreads of trades.
Example of MMDB"s are FXCM, FXSOL, DUKASCOPY, ALPARI, NORTHFINANCE, FOREXYARDetc.
The spread is the difference between the bid and ask price, i.e the difference between the buy and the sell pricew of a currency pair, e.g EURO/USD.
A currency pair refers to the particular currencies being traded at any particular point in time, it is always two e.g EURO/USD, GBP/JPY, USD/CHF. The first currency is known as the base currency while the second one is known as the counter currency.
Good info, thanks.
PIVOT POINTS, these are imaginary points on fx or stock charts where price can turn around or bounce back and forth. They constitute a great help to traders in decision making about their trades.
To calculate pivot points, you need to know the figures for what we call OHLC. I.E OPEN, HIGH, LOW, CLOSE.
Pivots are called resistant points when above, they are known as supports when they are below a price range.
When a support is broken it becomes a resistant point, same applies to a resistant point, when it is broken it becomes a support.
Pivot points work like magic when they are calculated right and applied with good strategies. They are good for stock trading as well as currency trading.