Monday, May 15, 2006
Online Forex Trading - Which currencies to trade?
Online Forex trading is done using pair of currencies. You make money when the value of one currency changes in respect to the other. There are lots of currencies which are traded -
EUR IEuro), USD (Dollar), GBP (British Pound), CHF (Swiss Franc), CAD (Canadian Dollar), JPY (Japenese Yen), NZD (NewZealand Dollar), AUD (Aussie Dollar) etc.
These are traded in pairs. The prominant pairs are the ones that have USD as one of the currencies.
The major currencies are -
EUR/USD, GBP/USD, USD/JPY, USD/CHF
The other prominent forex trading pairs are -
USD/CAD, AUD/USD, NZD/USD
And these 7 are the only online forex trading currencies that I trade in. There are other also like EUR/GBP, NZD/AUD etc., which I don't trade as they have very less liquidity.
Now the next big question is - How do you identify which currency to buy and which to sell in a particular currency pair?
This and more tomorrow..:-)..
Very shortly I'll post about my trade for the day.
Stay tuned for online forex trading and to learn forex trading.
EUR IEuro), USD (Dollar), GBP (British Pound), CHF (Swiss Franc), CAD (Canadian Dollar), JPY (Japenese Yen), NZD (NewZealand Dollar), AUD (Aussie Dollar) etc.
These are traded in pairs. The prominant pairs are the ones that have USD as one of the currencies.
The major currencies are -
EUR/USD, GBP/USD, USD/JPY, USD/CHF
The other prominent forex trading pairs are -
USD/CAD, AUD/USD, NZD/USD
And these 7 are the only online forex trading currencies that I trade in. There are other also like EUR/GBP, NZD/AUD etc., which I don't trade as they have very less liquidity.
Now the next big question is - How do you identify which currency to buy and which to sell in a particular currency pair?
This and more tomorrow..:-)..
Very shortly I'll post about my trade for the day.
Stay tuned for online forex trading and to learn forex trading.
