New Currency Trading for Beginners

if I buy pound US dollar I’m speculating that the pound is going to go up means this chart is going to go up and correspondingly the US dollar is going to fall so the pounds value is going to increase against the US dollar so for example if I’d bought down here bought pound US dollar at the beginning of the year and we’re still holding the position I’d be sitting on a reasonable profit if I thought the pound had gone up too far and I think why the markets gonna fall how do I profit from this well how do I try and profit from this the way to do it I would click on sell I would sell pound against the US dollar so I’m speculating the value of the pound is gonna drop on this it’s going to turn lower okay so that’s that that’s the rule of thumb when you’re buying or selling it’s the first quoted currency that you’re buying or selling against the other one so if we sold the dollar against the Japanese yen we’re speculating the dollar yen is gonna fall so jadwal tv

the dollars gonna fall and the yen is correspondingly gonna rise when it comes to trading hours foreign exchange market is a true 24-hour market so it starts off Sunday night UK time when the Asian markets open for business and it trades all the way around the clock till Friday evening when New York finishes off for the weekend then on Sunday the whole thing starts again but you don’t need to be intimidated or worried by there’s 24-hour market let’s let’s take a look at some of the moves that we see and how we might want to trade it here’s a snapshot of a few days pairen against the dollar where each of these candlesticks represents 10 minutes worth of trading so going back to the 5th of September and ending up at the end of that particular week on the 8th of September so we can see you can see from the scale just down here that this is a 24 market for example this section here we’ve got from 11 o’clock UK time Asian trading kicks in the market moves higher then we have sort of 7:00 to 8:00 in the morning UK time when the focus shifts to Europe

and the market continues to rise in this example and then we have US time so from about five six o’clock in the evening UK time the focus is very much on the US and we had something of a quiet finish but but don’t be I think worried about this being a 24-hour market you know thanks to stop losses and take profit orders you can set up your trade so if a certain level gets hit you come out for a small loss or you come out for the profit you’re expecting just because it’s a 24-hour market you don’t need to watch these markets around the clock sitting there in your pajamas with matchsticks holding your eyes open you know you can use orders to manage the risk for you when you’re trading foreign exchange that like so many other products these days you’re trading using leverage so even though you might have let’s say $100,000 position in one currency you don’t actually tie up the whole amount because traditionally currencies don’t move that much during