Questions About Currency Trading

What is Forex Trading?

Forex trading or Currency Trading is the trading market globally which is the largest and liquid financial market in the globe. In trading forex, the currency is currency pair which is on floating exchange USD and AUD for example. Forex trading works as exchanging between two currencies.

Most financial institutes use forex trading to make bids on one currency to increase their hedge position in the trading market. The mechanism of forex trading is to buy one currency you have to pay in another currency.

What are currency pairs?

Currency pair is simply two combined currencies of two countries for the foreign exchange market. These two currencies have their own currency exchange rate and position size. These are base currency and quote currency.

In simple words, the currencies paired represents which currency you want to buy the base currency and what is the cost of that currency in the native coins the quote currency. All trading in forex trading takes place in currency pairs.

milliva

How do currency pairs work?

Currency pair is two different country currency combined as a base and quote currency. Currency in 1st is the base currency and 2nd is the quote currency. When you buy base currency you pay the price for that base currency in quote currency value.  The exchange rate of foreign currency keeps fluctuating based on its changing values. The values of one currency will always be stronger than others.

Base currency: The base currency is the 1st currency of the pair that you buy.

Quote currency: The quote currency is the 2nd currency of the pair that you pay in amount to buy the base coin.

For example in EUR/USD, EUR is the base currency and USD is the quote currency. To buy EUR coin you have to pay the amount in USD. That is to buy 1 EUR coin you have to pay $1.35 USD currency.

What is forex commission?

Forex is not like brokers that gain profit from doing trade for you, they are most likely dealers. They act as a counterparty for the investors to assume the market risk; they make a profit from the bids you ask not by charging a commission for the trade. Investors can ask/bid they cannot buy or sell as this is the case in an exchange-based market, once the price is clear there will be no additional fees added, the profit completely belongs to the investors.

 forex commission
What is a pip?

Pip is referred to as a percentage in point,That represents the smallest incremental move gained at the exchange rate. This means the price is quoted to the fourth decimal point in the FX market.

For example, if the exchange rate is 1.3920 and it is increased to one decimal point then the exchange rate would be 1.3921. But an exception applies to the Japanese YEN coins, because 1$ is worth 100yen, so when USD is paired with YEN the decimal point is moved to two points.

How many currency pairs are there?

These are the major pairs:

EUR/USD (euro/dollar)

USD/JPY (dollar/Japanese yen)

GBP/USD (British pound/dollar)

USD/CHF (dollar/Swiss franc)

These are the commodity pairs:

AUD/USD (Australian dollar/dollar)

USD/CAD (dollar/Canadian dollar)

NZD/USD (New Zealand dollar/dollar)

Visit us: www.milliva.com

Forex Trading Blogs to Follow

Blogs to Follow:

Our Forex blog is an independent source of useful information on financial markets.The Blogs to Follow below is for your Basic Info about Forex Traing and For strategies.
Tradingstrategyguides.com was founded with one goal in mind: to prevent novice traders from losing money due to poor judgments. Its objectives are to help people build better lives for themselves by providing financial security. It recognizes the dangers that come with trade, and its objective is to warn newcomers about them. Finally, it enables readers to make informed decisions that allow them to gain from Forex trading in a safe and secure manner.

Tradeciety

Tradeciety.com focuses on one crucial characteristic that distinguishes successful traders from unsuccessful traders: discipline. It describes itself as a ‘boot camp’ for new dealers. The site’s counsel aids in instilling the ideals and understanding that traders require to make their trip successful. Because it doesn’t offer money for anything, Tradeciety is one of our best Forex blogs for beginners. It educates new traders that trading, like any other career, involves hard work, diligence, and graft.

investopedia

Trading with rayner

Tradingwithrayner.com strives to cut through the BS in Forex trading advice, which is a solid start. It offers a large amount of free trading guidance to newcomers. It also recognizes that readers may not have a large quantity of funds to begin with.

This emphasis on accessibility is a fantastic place to start. Many of us who start trading Forex are seeking for a better method to sustain themselves, but it does not imply we have the necessary cash to get started.

Rayner tries to persuade novice traders that it’s worthwhile to memories every cost-cutting measure before investing. Rayner is one of our top Forex trading blogs because any successful business is about minimising losses as much as boosting profits.

Forex signals :

The title of Forexsignals.com is a bit contradictory, according to the website. It recognizes that basic Forex indications are insufficient to create a fortune. So, what’s the story behind the name? Experts who understand the dynamics at work behind such signals are featured on the website. The premise is that they want to help novice Forex traders decipher such signals. It has the most popular Forex channel on YouTube and provides a thorough training program for new traders. They enable consumers to not only enter into the game but also to become and remain lucrative. It is highly worth reading for both novices and experienced traders due to its attention to detail.

Baby pips :

Babypips.com appears to take a more approachable, relaxed approach to learning how to trade Forex. Forex Gump and Dr. Pipslow are among the contributors. However, the company’s whimsy doesn’t detract from its comprehensive, in-depth training materials for new traders. The world of trading may be a bit bleak at times. It’s fantastic to have a resource that pulls all of the necessary information together in a way that doesn’t cause your attention to stray. BabyPips is a creative blog that matches our best Forex trading blogs for beginner’s criterion.

Visit us : www.milliva.com

Comparing Forex with Stock Market

Forex Vs the Stock Market

Forex Vs the Stock Market :

Investors who are all active in the market have access to all trading instruments from true blue-chip to the forex. One of the complicated tasks for traders is to decide which market to choose.

To make a good choice you must consider many factors. The important factor is considering the risk tolerance and trading style of the investor.

Eg:

The stock market suits better for investors who buy and hold the trade. While forex market suits the best for investors who trade in the short term.

Difference Between Forex Vs Stocks

FX is one of the world’s largest financial markets. Because its accounting for more than $6.6 trillion in average traded value for each day. Forex is more preferred by many traders because it has high liquidity, around the clock and leverage amount is affordable.

Certainly blue-chip well established and financial company for the stock market. Blue-chip expected to give a steady growth to the investor as it is less volatile compared to the other markets. These equities perform well during the high challenging economic conditions.

Volatility :

Volatility refers to the measure of price fluctuation in short term. As short term or day traders are highly dependent on the volatility to gain profit when the price takes a swing. On the other hand, long-term holders are comfortable with the less volatile and risky investments.

Difference between forex and indexes

Stock market is a combination of stocks which contains a special sort of fundamental or financial elements. That can be in a particular sector or broad market as a benchmark. financial market in the U.S includes Dow Jones Industrial Average (DJIA), the Nasdaq Composite Index, the Standard & Poor’s 500 Index (S&P 500), and the Russell 2000.

Volatility :

The volatility as well as liquidity of e-mini contracts are highly welcome by the short-term traders who participate in stock market indexes. The e-mini offers many perks like reliable liquidity, daily average price movement quotes, and trading outside US market hours.

This provides more profit to the short-term traders.

Leverage :

The future traders of indexes can use a large amount of leverage which is similar to the leverage amount of forex traders. Leverage referred to as margin which is a mandatory deposit from the investor that used by the broker to cover the account loss of the trader.

The margin can be a minimum 5% value which is set by the exchanges. It will make the futures traders trade in larger position sizes with small investments.

Trading hour:

The trading hour exists around the clock of e-mini electronically traded, the volume can be lower compared to the forex market, and depending on the day and contract the liquidity can be a concern.

 

Visit us: www.milliva.com

What is Forex Commission?

What is forex commission?

Forex which is referred to as foreign exchange is basically a broker in the digital market. Forex commission is the charge to pay the broker by investor. Broker acts as the middleman that makes the buy and sell for the investor, at a maximum rate they try to match the order of buy and sell from one customer to the other customer. They give a tight spread because they have established a connection with liquidity providers. The charge is a fixed foreign exchange commission.

Structure of commission:

The structure of the commission is three types one is fixed broker commission, other is variable spread and the last one is based on the percentage of the spread.

Spread price is the difference between the bid price and asks price.Bid price means the market prepared to pay for buying currency to you.

Asking price means the market maker prepared to pay for selling currency to you. There will be three pips in spread. Eg: if “EURUSD – 1.4952 – 1.4955.” the difference between them is 1.4952 is the bid price and 1.4955 is the asking price.If the broker offers a fixed commission spread of three pips instead of a variable, in spite of the market volatility will still differ.

forex

Broker offers variable spread it is expected that pip can be as low as 1.5 pips or high as 5 pips. This depends on the currency pair and market volatility. Few Brokers will offer small commission fee which is only two-tenth of pip.and then they will pass the order flow to a large market maker who is in a relationship with them. This arrangement gives a very tight spread to you so you can only target large traders.

Visit us: www.milliva.com

Millionaire Traders Strategies

Millionaire value confidence and commitment:

1.How Millionaire Traders Think & Who is millionaire trader

To think and act like millionaire traders you need to know the difference between a millionaire trader and lost traders. Millionaire traders are the successful people in trading; the lost traders are the unsuccessful people in trading.

Only slight differences between them. As trader in the same path initially they don’t have experience , Only hope Make them to achieve big in trading.

Successful Trader in Early Stage

They learn the process invent their own strategy, make investments at smaller rate, focuses on upgrading their trading values rather than making money.

Unsuccessful trader blindly jumps into trading without adequate knowledge about trading they copy others strategy and wants it to work for them too focuses more on the money than in the process, doesn’t upgrade their values.

Once they meet loss instead of dealing they just give up, but a successful trader analyze the situation and find a solution

forex Trading solution
forex Trading solution

“Follow the Footsteps of Successful Traders”.

To become successful traders you have to understand their belief system, follow their mental traits learn their trading process . You must have an mindset of successful trader, learn and study the market and implement in trading.

Millionaire Traders Think and Act

Millionaire value confidence:

They has no doubts, Confidence is key stick to plan and execute it without hesitations .They have rehearsed the plan they wanted to implement. They will make a commitment towards the process to achieve the goal.

Millionaire Value Mindsets:

Millionaire sets positive aspect of expectation on market and focuses more on the journey and their own strategy in trading. They manage and control their actions do not make risking too much of trading.

Millionaire value mindsets:
Hispanic young male stock trader typing on a keyboard while using a computer at home

Millionaire Value Opportunity and Abundance :

Millionaire always focuses on the opportunity. They are not so desperate to make money; a losing trader will always aim in gaining more money faster so they make many wrong steps.  A successful trader focuses more on their performance and analyzes their trade and increases their position size.

They don’t rush, they wait patiently to achieve their goal and lower the risk of unwanted investment.  They always wait and do something even if they lose rather than rushing themselves into doing something else.

Millionaire have Positive yet Realistic Goal:

A successful trader believes in them has a positive and more vibrant mindset that makes them more involved in trading, even when meet with extreme loss they  handle it calmly, having more positive traits will make more effective profitable trading.

Millionaire sets realistic goals which are attainable with their investment.  It is good to avoid unwanted hypes spending more into it and risk losing money.

Millionaire have Trading Strategies

Successful traders develop their own strategy by learning, working, creating demo account, investing in a small amount. Millionaire also understands that sometimes strategies don’t go according your expectation, there are going to be ups and downs, one success strategy doesn’t always be a success change strategies according to the platform. It’s good to have inspiration from others but don’t follow others’ strategies it may or may not be helpful.

Millionaire Have Plan

A successful trader always has a plan that will help them achieve their goals in trading, always stick to the plans sometimes it can be deviating.  Plan when and where to trade, most important thing is to always trust your belief system don’t have self doubts.  With plans, they develop the strategy comfortable for them, adapt to different trading platforms available in markets.

Millionaire plan

How you can be A Successful Trader?

Consistency, Dedication, Discipline and Hard work,

“Consistency, Discipline, Dedication and Hard work pave the way Towards Success”.

Millionaire believes the main key is being consistent not just in trading also in everything in life. In spite of the profit, they focus on the process in achieving the goal.

Nothing in life or in trading comes easily; putting as much as effort you can and by being patient for the work to complete is the only way to achieve goals.

Being more dedicated to the work, learning about the process of trading, and implementing it into their work rather than being desperate to make money they believe in the performance towards their goal.

Discipline one of the other main fundamental characteristic in trading a millionaire trader sticks to the fixed plan they make.

Find Own Trading Strategy,

To become a successful trader one has to find their own strategies, without losing a trader can implement his techniques to test this process is called back testing. The trader has to find their comfort zone as there are so many markets available in trading. They have to know in which path they want to continue either fundamental or technical, long term or short term, low risk or maximum risk.

Manage Risk,

Risk management is helps to prevent trader from higher loss, it is most important quality in a good trader. Once a trader finds way to minimize the risk of losing money, they make more profit in trading from the others. A successful trader doesn’t afford to lose their game in trading allowing very few mistakes.

Risk occurs during loss in trading but when it is on proper check it can be minimized and allows the trader to achieve higher rate of profit in the market.

Admit Mistake, Learn From Failure,

There is no strategy that is proven to be profitable always. It’s common for a trader to make minor mistakes, it is important for the trader to admit the mistake rather than dwelling to it and move past, analyse what went wrong and make process to rectify it.

When trader experience bad time they tend to give up but a good trader deals with loss, believes in them takes time and bounce back.

Privacy Policy Forex Broker – Milliva

Who we are ?

Suggested Privacy-Policy : When visitors leave comments on the site we collect the data shown in the comments form, and also the visitor’s IP address and browser user agent string to help spam detection.

An anonymized string created from your email address (also called a hash) may be provided to the Gravatar service to see if you are using it. The Gravatar service privacy policy is available here: https://automattic.com/privacy-policy/. After approval of your comment, your profile picture is visible to the public in the context of your comment.

Media

Suggested Privacy- Policy: If you upload images to the website, you should avoid uploading images with embedded location data (EXIF GPS) included. Visitors to the website can download and extract any location data from images on the website.

Cookies

Suggested Privacy-Policy: If you leave a comment on our site you may opt-in to saving your name, email address and website in cookies. These are for your convenience so that you do not have to fill in your details again when you leave another comment. These cookies will last for one year.

If you visit our login page, we will set a temporary cookie to determine if your browser accepts cookies. This cookie contains no personal data and is discarded when you close your browser.

When you log in, we will also set up several cookies to save your login information and your screen display choices. Login cookies last for two days, and screen options cookies last for a year. If you select “Remember Me”, your login will persist for two weeks. If you log out of your account, the login cookies will be removed.

Edit or publish an article, an additional cookie will be saved in your browser. This cookie includes no personal data and simply indicates the post ID of the article you just edited. It expires after 1 day.

Embedded Content from Other Websites

Suggested text: Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website.

These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.

Who we Share Your Data With

Suggested text: If you request a password reset, your IP address will be included in the reset email.

How long We Retain Your Data

Suggested text: If you leave a comment, the comment and its metadata are retained indefinitely. This is so we can recognize and approve any follow-up comments automatically instead of holding them in a moderation queue.

For users that register on our website (if any), we also store the personal information they provide in their user profile. All users can see, edit, or delete their personal information at any time (except they cannot change their username). Website administrators can also see and edit that information.

What Rights You Have over Your Data

Suggested text: If you have an account on this site, or have left comments, you can request to receive an exported file of the personal data we hold about you, including any data you have provided to us. You can also request that we erase any personal data we hold about you. This does not include any data we are obliged to keep for administrative, legal, or security purposes.

Where We Send Your Data

Suggested text: Visitor comments may be checked through an automated spam detection service.

%d bloggers like this: