Most people are not conversant with how forex trading works, while a good number are just put off by the numerous figures shown on financial news regarding forex trading. Popularly denoted as FX, forex trading is also called currency trading involves trading currency duos in a decentralized type of market. According to Netpicks, they can be done over-the-counter or electronically across major world cities. The forex market operates 24 hours since when, for example, the New York exchange shuts, another one in Paris or Tokyo is opening.
Netpicks provides charts and a live signal to help traders in their transactions, whether stop trading or those who trade in forward and futures markets. One feature of the forex market is that it is highly liquid with trades of approx. $5.2 trillion. Forex trading has few options with the most frequent currency pairs being the US dollar vs. the Canadian dollar (USD/CAD), Australian dollar vs. the US dollar (AUD/USD), the US dollar vs. the Swiss franc (USD/CHF), the pound sterling vs. the US dollar (GBP/USD), the euro vs. the yen (EUR/JPY), and the US dollar vs. the yen (USD/JPY). Using an unestablished currency pair is risky which makes most people prefer common pairings (netpicks.com)
Forex traders can leverage using margin accounts, where they must have means to pay borrowed funds then later compensate their brokers. Forex brokers need to understate forex terms such as pip, price interest point that refers to gains or losses, bid price which means selling price of currency pair traders, ask price (buyers price) and spread. The contrast between a bid and ask price measures in pips.
Netpicks Trading Strategies is an online trading education firm dealing with Futures, Stocks, Forex, Options, and ETFs, providing traders with helpful information. It is based in Irving, Texas. Mark Soberman heads Netpicks. He has over 25 years of trading experience and leads a team of real trading professionals trained to help people create wealth. New traders are advised to study the forex exchange market before trading which will offer them an understanding of different elements and the education needed to succeed.