PremiereTrade Forex Education: Forex 101 Part 2 (Infographic)
This week PremiereTrade Forex Education breaks down the fundamental components every trader needs in order to build a strong foundation. The outline and infographic below are part two of our PremiereTrade Education series, if you missed Forex 101: Part 1, you can find it here: PremiereTrade Forex Education: Forex 101 .
Currencies We Trade
- Any currency in the world can be traded, we focus on these nine
- USD, GBP, EUR, JPY, CHF, AUD, CAD, NZD
- Major Pairs = EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CAD, NZD/USD, USD/CHF
- Exotic Pairs = CAD/JPY, AUD/CAD, GBP/CHF, EUR/JPY, AUD/NZD, AUD/JPY, GBP/JPY, EUR/CHF, EUR/CAD
How to Read a Pair
- Each currency pair consists of a base pair (left) and cross pair (right).
- Charts and discussions are usually referenced to the base currency.
How the Forex Trades
- If the USD is the cross currency the PIP value is fixed.
- If another currency is the cross currency, the PIP value varies as a floating rate.
How We Make Money
- Identifying trends
- Timing entrances
- Timing exits
Our PremiereTrade Forex Education materials are meant to educate traders of all skill levels on the ins and outs of Forex trading. You can find a ton of educational material inside your PremiereTrade software under the “Training” tab.
