The currency market is designed to facilitate the trade of money between two parties interested in actually delivering the currency being traded. The contracts traded on the spot market are designed to settle within two business days. Since most currency trades are speculative...

In the forex market, all price quotes are represented by two prices, known as the bid price and the ask price. Both the bid price and ask price represent the exchange rate of the base currency pair against the quoted pair, except they serve two different functions. The bid...

The terms long and short simply refer to the position a trader has taken with a trade the trader has either bought or sold it. The term long simply means that you have bought the currency; the term short means you have sold it. For example, if a trader decides to...

The term pip is an acronym for percentage in points and is used to measure the change in exchange rates on the forex market.  A single pip represents the smallest possible decimal change a currency quote may move, and it is the standard on which profit and loss are calculated. Currencies are quoted in decimal format to...

Currency Lots Currencies are traded in standard lot sizes to facilitate efficient trading on the forex market. The standard retail lot is 100,000 units of the base currency. Most currency dealers offer 10,000-unit mini lots and 1,000-unit micro lots. Some currency dealers offer a 100-unit nano lot. Positions can be sized...

Trading currency is a process of exchanging one currency for another, so each currency trade is actually two transactions happening at the same time. One currency is bought while the other is sold. The forex market quotes prices as currency pairs to facilitate...

I do believe it is important to have some knowledge of the market’s history, so this section covers the key points. If you have never studied global monetary systems, consider this section an abridged history of the forex market. The modern forex market’s roots began with...

The currency market, or more specifically the forex (Introduction to forex) market, derives its name from the generic term foreign exchange market. The forex market is a decentralized global network of trading partners, including banks, public and private...

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The way a currency is simultaneously bought and sold during a trade is confusing for many new traders, so an example will help clarify what happens under the hood of a currency trade. Assume for a minute that you are interested in buying the British pound against the U.S....

Each currency pair is made up of two parts: the base currency and the quote currency. For example, the U.S. dollar/Canadian dollar example we just discussed is paired as USD/CAD. The base currency is always to the left of the slash (/) mark; the quoted currency is always...

Trading currency is a process of exchanging one currency for another, so each currency trade is actually two transactions happening at the same time. One currency is bought while the other is sold. The forex market quotes prices as currency pairs to facilitate the ease...

The forex market is not structured like a traditional exchange market such as the New York Stock Exchange or the Chicago Mercantile Exchange. Forex is a decentralized global marketplace where trades are cleared one on one between trading partners. There is no central exchange,...

The roots of our modern forex market are an interesting topic that has been covered ad nauseum by other trading books; however, I do believe it is important to have some knowledge of the market’s history, so this section covers the key points. If you have never studied global...

The currency market, or more specifically the forex market, derives its name from the generic term foreign exchange market. The forex market is a decentralized global network of trading partners, including banks, public and private institutions, retail dealers, speculators,...