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Article
If you are new to Forex, no doubt you are confused by all of the strange and unfamiliar terminology. For example, what is a pip? Also, you are probably already aware that Forex trading can be risky. How can you limit your loss and best protect your funds? This article briefly covers how currency lots are traded to help you better understand how to plan your trading strategy and manage your funds. About the Author: For more FREE Forex Training Articles, visit: Forex
In Foreign Currency Exchange (FOREX), earnings are expressed in "pips". Pip is short for Price Interest Point, also called points. Whereas the smallest denomination in USD is the penny ($.01), in Currency Exchange, funds can be traded in an even smaller denomination, $0.0001. This means that very small movements in currency prices can create large profits.
So, a PIP is the smallest unit a currency can be traded in. The actual value of a pip is not a set price. If you are trading with a standard account, a pip is worth $10. If you are trading a mini account, a pip is only worth $1.
The value of a pip changes based upon the size of your account, because the size of your account affects how much currency you can leverage. A standard full size trading account is 100,000 units of the base currency. If you are trading in USD, a standard account has a value of $100,000 USD.
A mini lot is 10,000 units of base currency. If you are trading mini lots, you can leverage $10,000. This is why a pip in a mini account is worth less than a pip in a standard full sized account.
While Forex trading allows you to leverage more funds than you actually have, this can be a double edged sword. While you can make profits on funds that you leverage (rather than own), you can also have losses amplified as well. There are several ways, however, to manage your risk when trading Forex. If you are interested in trading Forex, you should have a definite trading strategy. You must educate yourself to know when to enter and exit the market and what kind of movements to anticipate.
You can also place something known as a stop loss order. Stop-loss orders the typical way traders minimize risk when placing an entry order. A stop-loss order to exit your position if the currency price reaches a certain point.
If you are taking a long position, you would place the stop loss order below current market price. For a short position, you would place a stop loss order above current market price. This technique allows you to manage your risk and, just as the name suggests, stop your losses at a certain point.
As you can see, Forex trading can be complex, but once you understand the basic fundamental principals of how lots are traded, its starts to come together for you. Foreign Currency Trading can be quite profitable and and exciting way to invest.
Dollar Forex New Zealand News
dollar forex new zealand
The New Zealand dollar weakened against the greenback this week following the rise in risk aversion, and the high-yielding currency may continue to face selling pressures over the near-term as investors remain fearful of a protracted recession in the ...
Read moreShort-Term Forex Technical Outlook: NZD/USD - DailyFx
The New Zealand dollar weakened against its currency counterparts this week and pared gained against the Japanese Yen after reaching a high of 63.00, and the NZD/JPY may continue to hold a broad range over the near-term as investors weigh the outlook ...
Read moreShort-Term Forex Technical Outlook: NZD/JPY - DailyFx
The US dollar was higher vs. most major currencies as weak global data bolstered risk aversion. Domestic data showed that US employers cut 467,000 jobs in June, more than forecasts of 363,000. The unemployment rate rose to 9.5% as the labor market ...
Read moreThe New Zealand dollar fell to one−week lows against the dollar - FXStreet.com
The US dollar was mixed vs. most major currencies as higher stock prices showed investors’ increased risk appetite even amid poor US data. ADP Employer Services report showed that US private employers cut 473,000 jobs in June, more than expected ...
Read moreThe US dollar was mixed vs. most major currencies - FXStreet.com
LONDON, July 3 (Reuters) - The euro recovered against the dollar on Friday as traders picked up the single European currency following its fall the previous session, when weak U.S. jobs data helped lift the dollar across the board. Some traders ...
Read moreFOREX-Euro edges up vs dollar in holiday-thinned trade - ninemsn
Dollar Retreats on Improved Risk Appetite, Oil Jumps Above $73 Oil jumped to an eight-month high on Tuesday amid a surge in trading activity in the Asian session. The rally took crude futures and the London ICE brent contract above $73 a barrel at ...
Read moreForex & Commodities - CNBC
LONDON, July 3 (Reuters) - The euro edged higher against the dollar on Friday, correcting after sharp falls late the previous session in the wake of bleak U.S. jobs numbers which dampened hopes for a global economic recovery. Trade was quiet, however ...
Read moreFOREX-Euro recovers vs dlr; trade thin on US holiday - Reuters
NEW YORK, July 2 (Reuters) - The dollar rose against major currencies on Thursday after bleak U.S. jobs data renewed concerns about the economy and enhanced the greenback's safe-haven appeal. U.S. Treasury bonds rose and stocks fell more than 2 ...
Read moreFOREX-Dollar up as jobs data raises doubts about recovery - ninemsn
NEW YORK, July 2 (Reuters) - The dollar rose against major currencies on Thursday after bleak U.S. jobs data renewed concerns about the economy and enhanced the greenback's safe-haven appeal. U.S. Treasury bonds rose in price and stocks fell sharply ...
Read moreDollar rises vs major currencies after weak US jobs data - The Guardian
Currencies perceived to be higher risk, like the Australian and New Zealand dollars, came under some selling pressure as U.S. stock futures were unable to make any headway even as European shares eked out gains in early trade. A 1 percent slide in ...
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