About: lishitong
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Quotes in Forex
We mentioned above that currencies are always traded in pairs; this is because when you buy one you’re essentially selling the other and vise versa. So how do you read an FX quote？ E.g. EUR/USD = 1.1200This means that 1 € = 1.12 $EUR; in this quote EUR is known as the base currency.USD; in this quote USDContinue Reading
Written on December 28, 2020 at 6:37 am
Categories: What is Forex
The Bid, the Ask and the Spread
All forex quotes have two prices attached to them, one is a bid price, and the other an ask price. The bid price – if you want to SELL the base currency, then you would click on the bid price. The bid price is the price at which the other party is willing to buy theContinue Reading
Written on December 28, 2020 at 6:34 am
Categories: What is Forex
Going Long or Going Short
Going long or going short is just trader lingo for buying or selling.As long as you remember LONG = BUY and SHORT = SELL then you’re half way there.The next bit is a bit trickier… When to go Long and when to go Short in FX“Going long” in FX terms is buying the base currency and selling the quote currency.Continue Reading
Written on December 28, 2020 at 6:31 am
Categories: What is Forex
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