股票外汇技术分析英文版
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An example of how currency pairs trade is if a trader believes the Bank of Japan will intervene to cause a decrease in the Yen against the US Dollar, then the trader would buy USDJPY (buy the US Dollar/sell the Yen). However, if the trader believes that Japanese investors are losing faith in the United States' economy and are pulling money out of the US into Japan, then the trader would sell USDJPY (sell the US Dollar/buy the Yen).
More easily understood quotes Currency futures are time-based derivative products whose prices have the added complication of a forward component. The forward component takes into account a time factor, interest rates, and the interest differentials between various currencies.
The Cost of Trading FOREX
Like equities currency pairs have a bid and ask. • The bid rate is the price at which traders can sell the pair. • The ask rate is the price at which traders can buy the pair.
Advantages of FOREX vs Currency Futures
More Volume, Better Liquidity Daily currency futures volume on the CME is just 1% of the volume seen every day in the FOREX markets.
The base currency is the "basis" for the buy or the sell. If you buy EURUSD you have bought Euros (and simultaneously sold dollars). If you sell EURUSD you sold Euros (and simultaneously bought dollars).
Example Courtesy
Examples of Forex Buy Trade
If you think that the Euro will rise relative to the U.S. Dollar you would buy one lot of the EUR/USD currency pair.
Each pip is worth $10, 275 pips x $10 = $2,750 profit
Each pip is worth $10, 275 pips x $10 = $2,750 profit
Examples of FOREX Sell Trade
If you think that the Euro will fall relative to the U.S. Dollar you would sell one lot of the EURUSD currency pair.
For example a trading account with $10,000 has $10,000 of usable margin. If you use $8,000 to buy 8 lots of USD/EUR you now have $2,000 of usable margin left. If the position goes against you by more than $2,000 you are now under the margin requirement, and the position may be liquidated involuntarily.
Higher Leverage, Lower Margin The FOREX rates are generally better than those found in currency futures trading.
Advantages of FOREX vs Currency Futures
Concept of a Currency Trade
A currency pair represents the exchange rate between the two currencies. For example, the rate at which the EURUSD is trading represents the number of US Dollars one Euro can purchase.
With leverage comes risk. Increasing your leverage increases both your opportunity to take bigger profits and incur bigger losses.
Margin and FOREX
Margin is a good faith deposit, to ensure against trading losses. The margin requirement allows the traders to hold a position much larger than the account value.
The EURUSD is trading at 1.2812 when you sell it. The EURUSD is trading at 1.2285 when you buy it.
You sold at 1.2812 and bought back at 1.2285 for a profit of .0527 or 527 pips.
FOREX is traded in lots, which represent 100,000 units of the base currency.
For example you would buy EURUSD in expectation that the Euro will rise relative to the US dollar. If the EURUSD is quoted at 1.2148, then if the market moves from 1.2148 up to 1.2158 that represents a move of ten pips. A pip is the smallest increment a currency pair can move and in most currency pairs this pip represents $10.
Each pip is worth $10, 527 pips x $10 = $5,270 profit
Each pip is worth $10, 527 pips x $10 = $5,270 profit
FOREX and Leverage
In the equities market, traders usually pay 50% of the full amount for each position they take. In FOREX most market makers allow positions to be leveraged up to 100:1. This means that if a trader wanted to buy a “lot” worth $100,000, with 100:1 leverage the trader only has to come up with $1,000.
The price on the FOREX market is simply how many of one currency people are willing to pay for the other currency-that's it.
No commissions. No clearing fees. No exchange fees The fees on Currency futures can eat into profits
Fundamentals of FOREX
By Stephen Hill
You can download this PowerPoint session at /forex2.ppt
tages of Trading the FOREX
Enormous liquidity 24-hour Trading Very tight spreads No commission or exchange fees High leverage for active traders Fewer tickers to follow
NOTE with most FOREX brokers if funds in the account fall below margin requirements, the broker will close some or all open positions. This prevents your account falling into a negative balance.
The EURUSD is trading at 1.1987 when you buy it. The EURUSD is trading at 1.2262 when you sell it.
You bought at 1.1987 and sold at 1.2262 for a profit of .0275 or 275 pips.
Basic of FOREX Pairs
Currencies are quoted in pairs, such as EURUSD or USDJPY. The first listed currency is called the base currency, while the second currency is called the counter or quote currency.
Tighter Spreads Invert the futures price to compare it to cash and you can easily see the difference. Currency futures regularly have a spread that is three or four pips higher than the comparable currency spread.
More easily understood quotes Currency futures are time-based derivative products whose prices have the added complication of a forward component. The forward component takes into account a time factor, interest rates, and the interest differentials between various currencies.
The Cost of Trading FOREX
Like equities currency pairs have a bid and ask. • The bid rate is the price at which traders can sell the pair. • The ask rate is the price at which traders can buy the pair.
Advantages of FOREX vs Currency Futures
More Volume, Better Liquidity Daily currency futures volume on the CME is just 1% of the volume seen every day in the FOREX markets.
The base currency is the "basis" for the buy or the sell. If you buy EURUSD you have bought Euros (and simultaneously sold dollars). If you sell EURUSD you sold Euros (and simultaneously bought dollars).
Example Courtesy
Examples of Forex Buy Trade
If you think that the Euro will rise relative to the U.S. Dollar you would buy one lot of the EUR/USD currency pair.
Each pip is worth $10, 275 pips x $10 = $2,750 profit
Each pip is worth $10, 275 pips x $10 = $2,750 profit
Examples of FOREX Sell Trade
If you think that the Euro will fall relative to the U.S. Dollar you would sell one lot of the EURUSD currency pair.
For example a trading account with $10,000 has $10,000 of usable margin. If you use $8,000 to buy 8 lots of USD/EUR you now have $2,000 of usable margin left. If the position goes against you by more than $2,000 you are now under the margin requirement, and the position may be liquidated involuntarily.
Higher Leverage, Lower Margin The FOREX rates are generally better than those found in currency futures trading.
Advantages of FOREX vs Currency Futures
Concept of a Currency Trade
A currency pair represents the exchange rate between the two currencies. For example, the rate at which the EURUSD is trading represents the number of US Dollars one Euro can purchase.
With leverage comes risk. Increasing your leverage increases both your opportunity to take bigger profits and incur bigger losses.
Margin and FOREX
Margin is a good faith deposit, to ensure against trading losses. The margin requirement allows the traders to hold a position much larger than the account value.
The EURUSD is trading at 1.2812 when you sell it. The EURUSD is trading at 1.2285 when you buy it.
You sold at 1.2812 and bought back at 1.2285 for a profit of .0527 or 527 pips.
FOREX is traded in lots, which represent 100,000 units of the base currency.
For example you would buy EURUSD in expectation that the Euro will rise relative to the US dollar. If the EURUSD is quoted at 1.2148, then if the market moves from 1.2148 up to 1.2158 that represents a move of ten pips. A pip is the smallest increment a currency pair can move and in most currency pairs this pip represents $10.
Each pip is worth $10, 527 pips x $10 = $5,270 profit
Each pip is worth $10, 527 pips x $10 = $5,270 profit
FOREX and Leverage
In the equities market, traders usually pay 50% of the full amount for each position they take. In FOREX most market makers allow positions to be leveraged up to 100:1. This means that if a trader wanted to buy a “lot” worth $100,000, with 100:1 leverage the trader only has to come up with $1,000.
The price on the FOREX market is simply how many of one currency people are willing to pay for the other currency-that's it.
No commissions. No clearing fees. No exchange fees The fees on Currency futures can eat into profits
Fundamentals of FOREX
By Stephen Hill
You can download this PowerPoint session at /forex2.ppt
tages of Trading the FOREX
Enormous liquidity 24-hour Trading Very tight spreads No commission or exchange fees High leverage for active traders Fewer tickers to follow
NOTE with most FOREX brokers if funds in the account fall below margin requirements, the broker will close some or all open positions. This prevents your account falling into a negative balance.
The EURUSD is trading at 1.1987 when you buy it. The EURUSD is trading at 1.2262 when you sell it.
You bought at 1.1987 and sold at 1.2262 for a profit of .0275 or 275 pips.
Basic of FOREX Pairs
Currencies are quoted in pairs, such as EURUSD or USDJPY. The first listed currency is called the base currency, while the second currency is called the counter or quote currency.
Tighter Spreads Invert the futures price to compare it to cash and you can easily see the difference. Currency futures regularly have a spread that is three or four pips higher than the comparable currency spread.