im looking into getting started in forex?

1. EUR/USD - Euro/U.S. Dollar

2. GBP/USD - Great British Pound/U.S. Dollar

3. USD/CHF –- U.S. Dollar/Swiss Franc

4. USD/JPY –- U.S. Dollar/Japanese Yen

5. USD/CAD –- U.S. Dollar/Canadian Dollar

6. AUD/USD - Australian Dollar/U.S. Dollar

7. EUR/GBP - Euro/Great British Pound

8. EUR/JPY - Euro/Japanese Yen

9. EUR/CHF - Euro/Swiss Franc

10. GBP/CHF - Great British Pound/Swiss Franc

11. GBP/JPY - Great British Pound/Japanese Yen

12. CHF/JPY - Swiss Franc/Japanese Yen

13. NZD/USD - New Zealand Dollar/US Dollar

14. EUR/CAD - Euro/Canadian Dollar

15. AUD/CAD - Australian Dollar/Canadian Dollar

16. AUD/JPY - Australian Dollar/Japanese Yen

17. EUR/AUD - Euro/Australian Dollar

NOTE: Of the above 17 currency pairs, six of them are deemed the “major currency pairs” in the FOREX market because they account for about 80 percent of FOREX transactions:

1. EUR/USD - Euro/U.S. Dollar

2. GBP/USD - Great British Pound/U.S. Dollar

3. USD/CHF –- U.S. Dollar/Swiss Franc

4. USD/JPY –- U.S. Dollar/Japanese Yen

5. USD/CAD –- U.S. Dollar/Canadian Dollar

6. AUD/USD - Australian Dollar/U.S. Dollar

As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.

TERMINOLOGY:

• PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.

• LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.

• LONG to buy

• SHORT to sell

• BID-The price at which you sell

• ASK-The price at which you buy

Price Interest Point - (PIP)

Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.

Calculated PIP

Calculated PIP – shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.

PIP VALUE-Fixed or Floating

FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.

FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).

LOT

A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.

Standard (or 100k) FOREX account- has a 100:1 leverage ratio

1 LOT= $1,000 investment= ratio leveraged 100 to 1, which = $100,000 in buying power.

Mini FOREX account- has a 200:1 leverage ratio

1 LOT= $50 investment= ratio leveraged 200 to 1, which = $10,000 in buying power.

TRADING HOURS (EST)

• Trades 24 hours a day, 6 days a week. The market is open from Sunday at 5pm EST to Friday at 4pm EST.

On my time (CST), Forex trading begins Sunday evening in Sydney (open 5:00pm – 1:00am), and moves around the globe as the business day begins in each financial center, first to Tokyo (7:00pm – 4:00am), [then Europe (12:00am – 9:00am)], then London (2:00am – 11:00am), and finally Canada and New York (7:00am – 4:00pm).

Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.

Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.

However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?

The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.

Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/4f450

It's probably the best way to learn how to win with binary option

I'm not sure why you are using a trading platform before you actually know how to trade. In simple terms you need educating otherwise you WILL lose your money. Have a look at the London Stone Trading FX Success course. It's 4 weeks long, affordable, they provide you with a mentor and you get all your money back if you don't like it. You really need to do this before you walk. Good luck! I have put a link in for you below.

the best trading software http://tradingsolution.info/

i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.

if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Binaries are simple to trade but don't make the mistake of thinking that they are easy to make money with. Learn here https://tr.im/Ejjro

To start, let's be clear: you can make money binary options trading. It's definitely possible to generate a consistent profit. Smart traders do it every day. In a modern marketplace that relies on leverage Roger Pierce will teach you not only how to utilise the most effective low risk spread strategy, but how to keep your savings growing using the same technique.

Etoro forex has a far more simplified platform which is a lot easier to understand.

1

You can learn all about forex trading on youtube

https://www.youtube.com/thetradeitsimple

Or try their website - www.tradeitsimple.com

Do you not feel like lambs to slaughter? 95% of forex traders lose money. You don't know anything. Why wouldn't you be part of that 95%?

a simple platform can help you to start trading successfully