Forex is the world's most traded market, with an average turnover in excess of US$4 trillion per day. Compare this to the New York Stock Exchange, which has a daily turnover of around US$50 billion and it's easy to see how the foreign exchange market is the biggest financial market in the world. Forex Currency Trading is similar to Stock Trading. Sell the Currency Pair when the Price is high and buy the currency pair when the price is low.
Leverage - Foreign exchange is a leveraged (or margined) product, which means that you are only required to deposit a small percentage of the full value of your position to place a forex trade
Pip - Pip stands for Percentage in Points. Most of our currency pairs are quoted to 5 decimal places with the change from the 4th decimal place (0.0001) in price commonly referred to as a 'pip'.
Spread - The difference in the BID/ASK of the currency pairs is referred to as the 'spread'
LOT - A lot is the smallest trade size available. Totradefx accounts have a standard lot size of 1,000 units of currency.
Candle Stick - Candle stick is a combination of both line and bar chart which is used in MetaTrader to determine the price movements of currencies traded over time in forex trading platform.
According to GMT, for instance, forex trading hours move around the world like this: available in New York between 01:00 pm - 10:00 pm GMT; at 10:00 pm GMT Sydney comes online; Tokyo opens at 00:00 am and closes at 9:00 am GMT; and to complete the loop, London opens at 8:00 am and closes at 05:00 pm GMT
MetaTrader 4 is a trading platform developed by MetaQuotes Software for online trading in the forex, CFD's and Future Markets. MT4, as it is commonly known, can be downloaded at no charge directly from ToTradeFx Register a Demo account.
Download Meta Trader4 → Open an Demo Account → Learn basis of Forex Terminologies → Place the types of order Buy, Sell, Buy Limit and Sell Limit → Analyze the Technical → Determine the Market → Once expert in Demo account → Start Live Account → Deposit Funds → Happy Trading