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Day Trader – Speculators who take positions in commodities which are then liquidated prior to the close of the same trading day. Dealer – An individual or firm that acts as a principal or counterpart to a transaction. Principals take one side of a position, hoping to earn a spread (profit) by closing out the [...]
Cable – Trader jargon referring to the Sterling/US Dollar exchange rate. So called because the rate was originally transmitted via a transatlantic cable beginning in the mid 1800′s. Canadian Ivey Purchasing Managers (CIPM) Index – A monthly gauge of Canadian business sentiment issued by the Richard Ivey Business School. Candlestick Chart – A chart that [...]
Balance of Trade – The value of a country’s exports minus its imports. Bar Chart – A type of chart which consists of four significant points: the high and the low prices, which form the vertical bar, the opening price, which is marked with a little horizontal line to the left of the bar, and [...]
A Accrual – The apportionment of premiums and discounts on forward exchange transactions that relate directly to deposit swap (Interest Arbitrage) deals , over the period of each deal. Adjustment – Official action normally by either change in the internal economic policies to correct a payment imbalance or in the official currency rate or. Adjustment [...]
Definition: Currency Name: Canadian Dollar Currency Country: Canada Currency Symbol: CAD Exchange: Interbank Quote Style: USD/CAD 1.03 Nickname: Loonie Correlations: The Canadian Dollar beats to it’s own drum Best Trading Times: The best trading time for the CAD is during the New York Trading session in the US. That would be 7AM to 4PM Eastern [...]
Definition: Currency Name: Australian Dollar Currency Country: Australia Currency Symbol: AUD Exchange: Interbank Quote Style: AUD/USD 0.7988 Correlations: The Australian Dollar and the New Zealand Dollar are fairly correlated. You can trade the difference between them by trading the AUD/NZD currency pair. Best Trading Times: There are very few news announcements that cause big waves [...]
Forex scams can take many forms. Some scams can be compelling or seem to be very legitimate. They take advantage of traders seeking the magic answer to winning in the forex markets. Unfortunately, there are no easy answers. Here is a quick list of some popular general forex scams. 1. Signal Sellers It seems like [...]
When getting started in forex trading, there are common mistakes to be avoided. This is a list of common forex trading mistakes. 1. Using Too Much Leverage One of the biggest advantages of forex trading is the ability to use leverage or trading on margin. One of the most common mistakes that forex traders make [...]
The forex markets are great because they are open almost all of the time and there are a wide range of currencies to choose from. This brings up an important question. What are the most active hours for forex trading? Generally speaking, the most active hours all around are between the London markets opening around [...]
Before you can get started with forex trading, there are so many questions to answer. How do I choose a broker? Should I use a demo account? What do I need to know before making my first trade? Let’s answer these questions one at a time, in order of importance. 1. Choose a broker Making [...]