Fri 30 Jan 2009
87. Forex Trading - How to Read a Currency Quote
Posted by echan76 under Howto
InformedTrades asked:
http://clk.atdmt.com/FXM/go/nfrsieng0100000402fxm/direct/01/
A lesson on how to read a currency quote for active traders and investors in the forex market.
i assume you want us to pick something volatil.
with the election i’ll pick the euro/usd:1.2879 buy 1.2880 sell and usd/cad: 1.1629 buy 1.1632 sell
EUR/USD buy: 1.25731
USD/JPY buy: 93.713
GBP/USD 1.7738 Buy
GBP/USD 1.7732 Sell
Hey David I love the videos. I had a few questions. When it comes to options trading on forex, is it similar to regular stock option trading? Do we buy a contract? Etc.. I was a little confused on how much US dollars we would risk on lets say a call on GDP/YEN.
Also, what do the daily charts go by? Since the market is open 24/7, how is the end of a daily period judged?
Thank you very much.