Please watch: "Forex for beginners class 3 in Urdu and Hindi"
info about basic Forex pips, spread, order etc
Topics Of Today's lecture.
LIST OF CURRENCY PAIRS.
MAJOR CURRENCY PAIRS.
WHAT IS SPREAD IN FOREX?
WHAT IS PIP IN FOREX?
WHAT IS EXNESS(broker)?
welcome back in our 2nd-day tutorial.in this tutorial, you will learn about basics of Forex pips, spread, order and currency pairs.
first of all, we need to know about currency pairs which are mostly used for trading in Forex.
basically, there are a lot of currency pairs which are used for trading.we can use many currency pairs for trading but according to my experience I will suggest you some currency pairs which are mostly used for trading.these currency pairs are given below..!
LIST OF CURRENCY PAIRS
MAJOR CURRENCY PAIRS
all of these currency pairs are mostly used for trading because these pairs have very liquid markets that trade 24 hours a day of every business day.and they have very narrow spreads.
we can also trade on some other pairs like a pair of gold, silver, and oil.these pairs are given below!
GOLD = XAU
SILVER = XAG
OIL = WTI
XAU/USD (pair of gold and USD dollar)
XAG/USD (pair of silver and USD dollar)
WTI/USD (pair of oil and USD dollar)
we can trade on these pairs.but if you are a beginner then please don't trade on them because gold, silver, and oil can give you a lot of profit but if you will trade wrong on these pairs then they can give you a very high loss..that's why I will suggest you if you are new in this field then don't try these pairs.they have very high spread and they change their pip value very quickly which can give you a loss in your trade.
WHAT IS SPREAD?
SPREAD is the difference between buy price(also known as BID) and the selling price(also known as ASK).there are two prices are given in every currency pair.the spread represents the difference between what the market maker give to buy from a trader, and what the market maker takes to sell to a trader.
WHAT IS PIP IN FOREX?
A pip is a number value.in Forex market, the value of the currency is given in pips.
one pip is equal to 0.0001
two pip is equal to 0.0002
three pip is equal to 0.0003 and so on..
WHAT IS EXNESS?
Basically, exness is a broker who gave us an access to the Forex market.
exness is the broker of New Zealand.
this broker starts his business in 2008.
provide Swap free account.
the procedure of instant deposit/withdrawal is very good.
instant order buys or sell.
provide 5 digit meta trader.(we will discuss it next lectures)