Based on whether a given currency pair will rise or fall, Netpicks says that forex traders can invest in such price movement. Forex trading, also known as foreign exchange or FX trading is currency pairs trade in a decentralized market done electronically or over-the-counter in main world cities such as London, New York, Paris, Tokyo, and Sydney. Netpicks provides live signal services and charts to FX traders 24 hours whereas one market closes, another one is opening. Trading is done on the spot, via future markets, or forward markets. Learn more, click financeswire.com.
One advantage of the forex market and why traders prefer them is because of their high liquidity with an approximate equivalent of $5.2 trillion being transacted daily. The forex market has limited options, unlike the stock market with only a few established currency pairs being profitable. They are the US dollar versus the Canadian dollar (USD/CAD) the US dollar versus the Swiss franc (USD/CHF), the pound sterling versus the US dollar (GBP/USD), the euro versus the yen (EUR/JPY), the US dollar versus the yen (USD/JPY), and the Australian dollar versus the US dollar (AUD/USD). The high liquidity is due to volatile price movements.
Before getting into forex trading, it is essential to understand some of the terminologies used in FX markets. PIP is the price interest point referring to a gain or loss, while bid price is the price for which buyers want to pay currency pair, while the ask price is the price that traders want to buy currency pairs. The difference between ask price and bid price is called the spread and is measured in pips (netpicks.com). As a potential trader, research more about the forex market before making any move so that they can be conversant with the different aspects involved in FX trading.
Netpicks provides online trading education and training for investors interested in ETFs, Stocks, Futures, Option, and Forex by publishing informative resources. Netpicks Trading Strategies is based in Irving, Texas. The firm CEO is Mark Soberman who combines his more than 25 years of trading experience with the professionalism of a high team trained in real trading to make it easy for people to earn wealth through investments.