No Bank Account? No Credit Cards? No ID? No Problem TRADING BITCOINS!

Marami na akong mababasa at naririnig na mga horror stories about coins ph.
And although hindi pa naman ito nangyayari sa akin kasi Level 3 naman ako sa coins ph.

Pero expected na ito kasi ang coins ph ay “regulated” ng bangko sentral ng pilipinas (BSP)

Kaya ang daming hassles sa coins ph sa totoo lang.

And since nasa “Crypto Business” tayo so dapat walang hassles diba?

Kaya naman very handy ang “Abra”.

Kaya instead of coins ph, I recommend mag download at mag install kayo ng Abra sa inyong phone para maging crypto-wallet na ang inyong phones.

DOWNLOAD AND INSTALL ABRA

At kung gagamitin nyo ang link ko sa ibaba para mag install ng Abra, magkakaroon kayo ng $25 in free bitcoins! after your first Bank deposit or 1.5% cash back when you exchange cryptos inside your Abra account.

signup link–>>> https://magforextrading.com/abra

GO TO ANY TAMBUNTING PAWNSHOP NEAR YOU AND DEPOSIT PESO TO ADD MONEY TO YOUR ABRA ACCOUNT

Anyway, kahit wala kayong bank account or credit card, pede parin magkaroon ng laman ang inyong Abra dahil “tie-up” ang Abra at ang TAMBUNTING PAWNSHOPS.

Magpunta lang kayo sa pinakamalapit na TAMBUNTING PAWNSHOPS sa inyong lugar at sabihin nyo lang mag add money kayo sa inyong Abra account at alam na ng mga tellers ang gusto nyong mangyari.

Magdala lang kayo ng 1 Government issue ID (SSS, Voters, UMID, Postal ID, etc) just incase hanapan kayo.

Ang minimum na pede nyo ipadala sa Abra account nyo sa TAMBUNTING ay 500 pesos at may charge silang 1.25% o 6.25 pesos. Kung 1,000 pesos ang idedeposit nyo ay may charge na 12.50 pesos. basta 1.25% ng amount na ipapadala nyo ang service charge ng TAMBUNTING PAWNSHOP at minuto lang, nasa Abra account nyo na ang pera.

PESO lang ang tinatanggap ng TAMBUNTING kaya PESO lang din makakarating as inyong Abra PESO wallet.

Kung gagamitin mo ang iyong Abra para pang deposit sa BitSeven account mo, kailangan mo muna mag “Exchange” para ang PESO amount mo ay maging BTC na ang laman ng iyong BTC wallet.

DEPOSIT BITCOIN FROM ABRA TO YOUR BITSEVEN ACCOUNT

Kapag may BTC na ang inyong Abra account. Pede kana mag deposit sa iyong BitSeven account gamit ang inyong Abra BTC WALLET by sending BTC to your BitSeven Deposit address.

From ABRA >>> GO TO WITHDRAW >>> SEND TO CRYPTO WALLET >>> BITCOIN >>> to send your bitcoins to your BitSeven Deposit address.

WITHDRAW YOUR BTC EARNINGS FROM BITSEVEN TO YOUR ABRA BTC WALLET

And kapag mag wiwithdraw kana later ng inyong profits sa BitSeven, pede mo na ma withdraw papunta sa iyong Abra BTC wallet.

From ABRA >>> ADD MONEY >>> ADD FROM CRYPTO WALLET >>> BITCOIN >>> to view your BTC address para mailagay ito sa “Destination Address”.

WITHDRAW MONEY FROM ABRA TO ANY TAMBUNTING PAWNSHOP NEAR YOU.

Pag nakarating na ang BTC earnings mo sa iyong Abra BTC wallet. Exchange your BTC para maging PESO. and kapag PESO na, pede kana ulit magpunta sa pinakamalapit na TAMBUNTING PAWNSHOP sa lugar nyo para ma withdraw ang pera.

MINIMUM DEPOSIT = 500.00 pesos
MAXIMUM DEPOSIT = 400,000.00 pesos
MAXIUM WITHDRAWAL = 100,000.00 pesos

TAMBUNTING PAWNSHOP charges 1.25% per transaction.

So thats it!

Hindi mo na kailangan pang magpasa ng mga sensitive documents at mag “selfie” pa lalo mag “video call” pa para lang kumita ng pera sa bitcoin trading šŸ™‚

And kung gusto mo ng libreng signals ko… just follow the 3 simples steps below:

HOW TO JOIN MY FREE BITCOIN TRADING SIGNAL ON DISCORD

STEP 1:

Register with BitSeven using my link below:
https://magforextrading.com/bitseven

STEP2:

Make sure your BitSeven account Full name matches exactly your Discord nickname

STEP 3:

Join my Private Discord Server using link below:
https://magforextrading.com/discord

IMPORTANT! TRADING IS VERY RISKY! THIS POST IS FOR EDUCATIONAL PURPOSE ONLY. SEEK FINANCIAL ADVICE IF NECESSARY!

Ang karunungan Ay Kayamanang Hindi Maaagaw ng Iba

Hindi lahat sa inyo ay may experience na sa trading.

Hindi lahat sa inyo ay may diskarte na sa trading.

Hindi lahat sa inyo ay may sistema na sa trading.

Kung wala kayong sistema sa trading, mahihirapan kayong mag profit.

Kung wala kayong maayos na sistema sa trading, mahihirapan kayong mag profit.

Makikita sa itaas na larawan ang aking 9 recent trades kung saan 7 sa 9 na trades ay panalo, isa lang ang break even at may 1 na konting talo.

Kaya kung wala kayong maayos at profitable na sistema sa trading, mahihirapan kayong mag profit.

Mahirap ang mag trade na parang bulag.

Mahirap ang sumabay sa trades ng iba.

Mahirap ang maiwan sa ere ng iba.

Mahirap i-asa ang negosyo sa iba.

Mahirap kapag hindi ikaw ang may control ng iyong negosyo.

Kaya naman binibigyan ko kayo ngayon ng pagkakataon na magkaroon ng isang maayos at profitable na sistema sa trading para ng sa ganun ay magawa nyo na talagang sustainable business ang trading.

Sinasabi kong trading kasi ang sistemang ipapasa ko sa inyo ay hindi lamang applicable sa bitcoin. Ito din ay magagamit sa Forex o kahit sa Stocks.

Ito ang isa sa mga “Secret Sauce” ko na aking ibinabahagi sa inyo sa halagang 0.01 BTC lamang.

Sa halagang 0.01 BTC, magkakaroon kana ng pang habang buhay na kabuhayan sa pamamagitan ng trading. lalo na dito sa Bitcoin trading na walang talo kung gagamitan mo ng Anti-Liquidation teknik na ating tinuturo sa libreng channel sa discord.
So kung iniisip mo na mahal ang 0.01 BTC, isipin mo na ito ay isang investment.

Isang investment na habang buhay mong pakikinabangan.

At kung tinatanong mo ang Return Of Investment o ROI, tignan mo sa kalakip na screenshot kung gaano mo katagal mababawi ang 0.01BTC na iyong binayad.

Makikita sa kalakip na screenshot na kung ikaw ay ay magsisimulang mag trade ngayon sa halagang 0.005 BTC at sabihin mo na ang average holding period mo nalang ay 3 days, aabutin kalang ng 10 trades o mula ngayong July 23 hanggang August 19 at bawing bawi mo na ang inyong investment na 0.01 BTC at may pang habang buhay kanang trading strategy na magagamit mo araw araw para magkaperahan.

Kaya mag isip isip ka.

Pede kang magsarili at kapain ang trading at matuto sa pamamagitan ng trial and error.

Pede ka ding sumabay sa trades ng iba at hoping na makasabay sa pag profit nila kahit hindi mo naman talaga alam ang buong pangyayari.

Pede ka din sumunod sa daily signals natin.

O pede ka namang magkaroon ng sarili mong sistema na masasabi mong sayo at magagamit mo anumang oras mo gugustuhing mag trade para magkapera.

Kaya kung ikaw ay intresado, mangyari lamang na kontakin ako sa king Discord server kung gusto mong malaman ang buong detalye.

https://magforextrading.com/discord

Paano Makapasok sa aking FREE BITCOIN TRADING SIGNAL Sa Discord

Kung gusto mong pakinabangan ang aking libreng “signals” at kumita sa bitcoin trading, Sundin mong mabuti mga sasabihin ko:

Unang una: Dapat ay gumawa ka muna ng libreng account sa BitSeven gamit ang aking CPA link: https://magforextrading.com/bitseven

Pangalawa: Dapat din ay may Discord app kana na naka install sa iyong computer.

Pangatlo: Dapat ay parehas ang Bitseven Full Name mo at Discord username.

Kapag hindi parehas ang pangalan mo sa BitSeven at Discord ay mahihirapan akong hanapin ka katulad nalang ni Ma.Kristina.

Sabi nya may account na daw sya sa BitSeven pero ang Discord name naman nya ay Ma.Kristina kaya ng hanapin ko sya sa “Member Profile” ay walang lumitaw na “Ma.Kristina”.

Pero kapagĀ parehas ang Bitseven Full Name mo at Discord usernameĀ katulad ni JacobBiz ay madali kitang makikita at mabibigyan ng “Access” sa tamang “Channels.

Kaya siguruhin mong parehas talagang Bitseven Full Name mo at Discord usernameĀ mo para ka makapasok.

Frequently Asked Questions:

Tanong: Nagregister naman ako sa BitSeven gamit ang link ni MagForex pero bakit hindi parin ako makita sa members profile?

Sagot: Baka kasi ibang link ang na click mo kaya hindi na credit ang partners link. Kung magkaganun man, mag register kana lang ulit gamit ang bagong email address pero siguruhin mo this time na link nga ni MagForex ang na-click mo at kung pede lang ay gamitin mo ang Desktop Computer sa pag click ng link at pag register para ma credit ang partners link at huwag celphone dahil mahirap.

Tanong: Parehas na naman ang Bitseven Full Name ko at ang Discord username ko pero bakit lagi akong na ki-kick out sa Discord server sa tuwing ako ay pumapasok?

Sagot: Ang Discord link kasi na binigay ni MagForex ay “temporary link” lamang. Ibig sabihin nito, ay kapag ki-nlick mo ang link at nag join ka sa “OFFICIAL MAGFOREX SERVER” ay mapupunta ka sa #general text channel at nandoon si MAG BOT!

Ang trabaho ni MAG BOT ay mag “greet” sa mga bagong pasok at mag kick ng mga pasaway sa #General text channels.


MAGBOT kicking butts!

Kaya kung sigurado ka naman na parehas na talaga ang Bitseven Full Name mo at ang Discord usernameĀ mo tapos na kick ka nit MAGBOT eh.. try mo lang ulit pumasok hanggang sa makita kita sa #general text channel at mapalitan ko ang iyong kulay para magka access kana sa tamang channels doon.

Tanong: Bakit lagi nalang akong pumapasok tapos kick agad ni MAGBOT at parang wala namang pumapansin sakin hanggang sa ma kick na naman ako ng MAGBOT?

Sagot: Tandaan mo na very busy ako sa aking personal trading. At very busy din ako sa pag “Assist” sa aking mga members sa ibat-ibang channels (topics) kaya wala akong panahon na hintayin kung kelan ka available ulit para makausap.

At isa pa, nagpapahinga din ako sa tanghali at maagang natutulog kaya hindi sa bawat oras na papasok ka ay available ako para makausap ka.

Kaya ang tanging magagawa mo lang talaga ay hintayin na libre ako at makausap ka sa #general text channel para mapalitan ko na ang kulay mo kung nagawa mo na angĀ  lahat ng nabanggit ko.

Ok?

Naritong muli ang 3 steps para makapasok sa ating LIBRENG BITCOIN SIGNALS.

STEP 1:
Register with BitSeven using my link below:
https://magforextrading.com/bitseven

STEP2:
Make sure your BitSeven account Full name matches exactly your Discord nickname

STEP 3:
Join my Private Discord Server using link below:
https://magforextrading.com/discord

At kung tinatanong mo kung ano ba ang mapapala mo sa pagpasok sa aking LIBRENG BITCOIN TRADING SIGNALS sa Discord ay basahin mo nalang ang ilang sa mga screenshots sa ibaba para ikaw na mismo ang makapagsabi kung ano ang pwede mong makuha kapag nasa loob kana ng aking Discord server šŸ™‚

Naritong muli ang 3 steps para makapasok sa ating LIBRENG BITCOIN SIGNALS.

STEP 1:
Register with BitSeven using my link below:
https://magforextrading.com/bitseven

STEP2:
Make sure your BitSeven account Full name matches exactly your Discord nickname

STEP 3:
Join my Private Discord Server using link below:
https://magforextrading.com/discord

See you there! šŸ™‚

Forex Trading Hours

In this post, we hope to give you some useful information for you to truly understand how the different forex trading hours work and to come away with a couple of different techniques in order to be able to capitalize on the characteristics of each session.

So as you all may know the forex market never sleeps. The forex market runs 24 hours a day and five and a half days a week. So it’s definitely a market that is filled with different types of opportunities. And you know that this is an advantage and a disadvantage for many traders.

Advantage and Disadvantage

The advantage is that you can cater to your trading based on your lifestyle because the market is always open. it’s a disadvantage however is that trading actually can happen even when you sleep overnight. Actions in the forex market happens in many different forms because the participants who have trade forex range from banks central banks investment managers hedge funds corporations and even us.

Market Participants

So there’s a lot of different market participants and that’s why it’s important to truly understand the unique characteristics of each session. So I’m going to start with the basics but bear with me because I promise you there’s going to be useful information for those of you that are more intermediate and advanced but it is important to know that the forex day actually starts in Asia when the Tokyo markets open because it’s obviously the next day.

Asian Session

So Tokyo markets open at around 8:00 p.m. New York time. Now sometimes you have a little bit of volatility before because the Australian and New Zealand markets opened before the Tokyo markets oftentimes you may have Australian or New Zealand data moving the affects market particularly those currencies before Tokyo opens but officially Tokyo opens at around 8:00 p.m. New York time and that’s when you get most of the Tokyo traders joining the market.

London Session

Now after Tokyo market opens we have the London open the London Open starts at 3 a.m. New York time 8 a.m. GMT and that’s when you get the bulk of trading activity because actually the most active period in the forex market we looked at it from isolated time zone perspective is actually the London session. Now of course the most active session is when we have the London U.S. overlap where the U.S. markets open at 8:00 a.m. New York time and that pretty much overlaps with the London session until noon which is 12 p.m. York Time.

London And New York Session overlaps

I’m sure all of you know that the most active sessions is when we have the New York London overlap which is basically between 8:00 a.m. to 12:00 noon New York time and the London Tokyo or London Asian overlap which can also be pretty active. Now this is really great for informational purposes but what about what do we need to know as traders. Well first and foremost on there’s some interesting behavioral characteristics of each session.

Market Risk Event Timings

And if we take a look at when the market starts the Asian session liquidity actually begins coming in from New Zealand and that can happen pretty much around 6 or 7 New York time sometimes depending on time zone time of year. We can have RBA rate decisions at 3:00 p.m. New York time and 5 p.m. New York time. So basically you know liquidity starts coming in with Wellington and that’s actually quite if we do have key data that she can lead to up quite a bit of movement in Aussie and Kiwi or some you know wide movements because only Australia and New Zealand’s open. So the movements can get quite exaggerated.

Now the main characteristic about the Asian trading session is that ranges tend to hold. it’s usually very quiet trading session except for if we have a big news or if we have something of a big breakout there, actually can be quite a bit of a continuation particularly in dollar yen. But generally speaking on a regular trading day it is the currencies generally range bound as support and resistance are respected during the London trading session.

Liquidity basically comes from Europe and you tend to have very fast active moves particularly during the London open and especially when data comes out. And the US session can get basically is a bit hit behaviors from both the London and Asia trust trading session.

Market Liquidity

As you all know the overlap between the US and London Sessions symbolic lows most liquid period of the day and what oftentimes will happen is that highs and lows can often be set during this overlap. And at the start of the US session oftentimes what we see is a continuation of the momentum that’s happening in the London session especially before we have U.S. data. And before the U.S. stock market opens so there’s a lot of really unique characteristics.

So to summarize that the London trading session in the early London trading session you can oftentimes have breakouts because London traders are coming in. They’re assessing what’s happened in North America and Asia. They’re looking at their order boards sometimes as even stops or key levels that are being run. And so that can lead to breakouts in currencies particularly the European currencies.

New York Session

During the initial start of the London trading session it’s a very fast moving session. You know quite a bit of a roller coaster ride particularly in pounds sometimes. And there’s quite a bit of volatility and it’s you know; if you like volatility, it could be quite an exciting time to trade the US session in the early U.S. session. When we talk about early U.S session, we generally talk about between 630 to 830 New York Times has been continuation of what could be happening during the European session and the moves actually.

Highs and Lows

The other thing to note is that highs and lows of the day in our experience are often times set during the US and London overlap when we have the most of action in the markets. And so I think it’s something that’s quite important to us to remember as well. And then during the Asian trading session you know, just as we mentioned before, It can be range trading. its a fairly quiet trading session, except when there’s data. And when there’s a sudden announcement or speech by a Reserve Bank of Australia, Reserve Bank of New Zealand or Bank of Japan official, that can actually cause a very big move that can have quite create a very rapid continuation because of the lack of liquidity during that session.

typical eurusd session

So looking at the 5 min chart of the EURUSD above, we can see that the Tokyo market opens at 8:00 PM New York time or in this case, its 3:00 AM in my Broker’s server time. Next, the London market opens at 3:00 Am New York time or in the case of the screenshot above, its 10:00 AM in my Broker’s server time. Followed by the New York market opening at around 8:00 AM New York time or 15:00 in my Broker’s server time.

As you can see in the screenshot above, the Asian trading sessions which are from 3:00 to 10:00 server time ( 8:00 PM to 3:00 New York time) tend to have the lowest amount of average Pip moves. The wildest moves happened right after the London market opens then kind of subsides in a while then right after the New York opens where the market overlaps, is where breakouts usually happens and then after 19:00 server time (12:00 PM New york time), the market starts to decline as we get to the US close.

So what does this tell us. This tells us that with range trading, the volatility tends to be much lower during the Asian trading sessions and we tend to have breakouts during the time when data is released maybe during the London open and most certainly we have the biggest moves between eight and 10 New York time.

So that’s something I think that is very very important to keep in mind. Each of the major currency pairs also you know will move based upon when data that comes out. So the dollar moves a lot when the London open U.S. data which comes out a 30 New York Time also sometimes at 10 a.m. New York time and of course FOMC at 2:00 p.m. that’s going to be important as well Euro moves when we had the London open Euro moves when we have euro zone data Euro moves where we have U.S. data. So you know all of these different times of day are very important for the euro dollar Pound’s moves when we have the London open it’s quite volatile during the London open also quite a bit of volatility during the week we have UK data for 30 New York time and when we have US economic releases basically coming out at 830 New York time yen moves a lot when we have the Tokyo open.

We have Japanese data around 10 p.m. New York time and then when we have we have the Japanese data company come out 10:00 p.m. New York time or at 1:00 a.m. your time and then again you know it moves quite a bit when we have the U.S. economic releases at 830 New York time Aussie we brokenness up differently because Aussie not only moves when the markets open and the US session based on U.S. data but also in reaction to Australian and Chinese data which have different times of days and they range between seven thirty p.m. your time all the way to about 130 a.m. your time the New Zealand dollar.

Very similar story but New Zealand data tends to come out earlier around for five New York time and then the Canadian dollar will move with us data when we have Canadian data similar to the US Canadian data can be released anywhere between a 30 New York Times 10:00 a.m. New York time and then oil inventories are often released around ten thirty New York time or is it released exactly at ten thirty New York Times so that’s a pretty volatile time of day for the Canadian dollar as well.

So with all of this in mind, how can you use this information to plan your trading day? it’s a lot of information, and I think it all boils down to asking yourself two questions.

Number one question is, what type of trader are you?

Are you a range trader? a news trader? or a breakout trader? or you don’t care about any of these things. If you’re an intraday trader and you’re a range trader, then obviously you want to trade where the markets are quiet or don’t trade when data is coming out. The best and the most successful times for a range trade is when range trader – during the Asian trading session – place their trades during the Asian trading session. If you’re a breakout trader then the best time to trade is when we had the U.S and European overlap.

If you’re a news trader, you can time your trades to the specific time of day. If you are a trader that doesn’t care about any of these things and you hold positions for a couple of days, then you know it really does not matter. The trading sessions matter a lot less to you although historically, it seems like the most successful traders tend to lay out their positions when we have the Asian during the Asian trading sessions where things are a little quieter.

The second question you need to ask yourself is what time of day do you have available for trade?

Because, if you live in the US and you come home on you work during the day and you come home and the only time you have to trade is during Asia then perhaps that’s the only time you trade and you have to focus on range trading. If you’re an early bird, you get up early like I do and you wanna trade before work then maybe you want to trade between six thirty and eight thirty in New York time where you can oftentimes have a lot of continuation opportunities and maybe even position for some breakouts during the North American session.

So you take all this information in minds while we share with you in future posts some of the trading strategies for trading the various trading sessions so you can use those information in the context of knowing the unique characteristics of each of these trading sessions.

Summary

Knowing that the U.S. trading session oftentimes is a momentum session, where your highs and lows for the days are set. The London session won’t have fast active moves and maybe even fast active reversals and the Asian session is when things are much quieter and calmer. Support and resistance tend to be respected and ranges tend to be held.

So with all of these information, hopefully will put you in the right mindset for understanding the unique characteristics of each of the forex trading hours. Thank you.

Basic Introduction To Forex Trading

Forex Trading is nothing more than the direct access to trading different types of foreign currencies. A few years ago, foreign exchange trading was mostly limited to large banks and institutional traders. But today, technological advancements have made it so that traders with small capital for as low as $100 can take advantage of the many benefits of forex trading just by using the various online trading platforms offered by reputable international forex broker.

In forex trading, the currencies of the world are on a floating exchange rate, and they are always traded in pairs. And about 85 percent of all daily transactions involve trading of the major currencies.

So I’m sure you know that there are hundreds of currencies out there as each countries have thier own currencies. But of all the currencies in the world, only the The United States Dollar (USD), The Euro (EUR), The pound sterling (GBP), The franc (CHF), The yen (JPY), The Canadian dollar (CAD), The Australian dollar (AUD) and The New Zealand dollar (NZD) are the ones that are with interest to the majority of currency traders for their speculative purposes because of their volatility and dynamics. This is the reason why they are called the “Eight (8) Major Currencies”. These major currencies when combined and paired with each other forms a total of “Twenty-Eight” (28) currency pairs to trade with and they are as follows:

Forex Pairs

  • AUD/CAD – In this currency pair, the item or the product is the The Australian dollar (AUD) and if you want to BUY or SELL AUD, it will be priced in terms of The Canadian dollar (CAD).
  • AUD/CHF – Same goes with this pair. The item or product you are buying or selling is the The Australian dollar (AUD) and its price is expressed in The franc (CHF).
  • AUD/JPY – Basically, the idea is the same for this pair. The Australian dollar (AUD) is the item or the product you wish to buy or sell and its corresponding price is expressed in yen (JPY).
  • AUD/NZD – The Australian dollar (AUD) is the item or the product you wish to buy or sell and its corresponding price is expressed in New Zealand dollar (NZD).
  • AUD/USD – In this pair, the Australian dollar (AUD) is the item or the product you wish to buy or sell and its corresponding price is expressed in The United States Dollar (USD).
  • CAD/CHF – The Canadian dollar (CAD) is the BASE CURRENCY (the item/product you wish to buy or sell) and The franc (CHF) is the QUOTE CURRENCY (the price of the item/product).
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • USD/CHF
  • USD/CAD
  • USD/JPY

So basically, the idea of forex trading is that; if you think one currency will appreciate against the other currency being paired with, then you may exchange that second currency (also called the “Quoted” currency) for the first one (which is also called the “Base” currency) and be able to stay in it and hold it. So in case you are right and everything goes as you predicted, you may be able to make the opposite deal in that you can exchange this first currency back for that other and profits from its exchange rate difference.

forex charts
A typical forex chart of the EURUSD on the upper left, USDJPY in the upper right, USDCHF on the lower left and the GBPJPY on the lower right screenshot.

Typical Trade Example

Lets do some practical example so you further get the idea. So lets say that upon checking the latest US news online, you notice that the economy of the US is not that great right now and the latest news for EURO is actually a good news for the economy. So you look at the Forex chart on your broker’s trading platform and you see that the current price for EURO is at 1.12346 if you want to BUY and 1.12333 if you want to SELL.

Now based on the information you have read about the US economy and the EURO news, you now have the reason to believe that the price of EURO might go up to 1.30000 in the next couple of hours.

So you’re now SPECULATING. And you want to BUY EURO against the USD (EUR/USD) at the current market price of $1.12346.. If you’re speculation is correct and the price of EURUSD indeed went up to $1.30000, you will be gaining 0.17654 points. (This is the price difference of subtracting your current buy price of 1.12346 to your target price of 1.30000)

Still referring to our example; if you do not close your trade and the price keeps going up above $1.30000, then you will continue to gain the price difference. But if you close your trade at $1.30000 then you have profited 0.17654 points from your market buy price of 1.12346 earlier.

  • $1.12346 – the price of EURO in terms of USD when you BUY it at the current market price.
  • $1.30000 – the price you believe EURUSD will go up in a couple of hours based on your speculation about the information you believe in.
  • $1.30000 – $1.12346 = $0.17654 is the price difference which you gain (or lose if you’re prediction is wrong). This Price difference Is expressed in POINTS. (also called a PIP)

Your Actual Earnings based on Volume

Now that you have an idea how you will be able to profit in Forex trading in terms of POINTS or PIPS, you might be asking, how does this $0.17654 points relates to my actual earnings? And the answer to that has to do with your TRADE SIZE also called VOLUME. Remember that before you can actually BUY or SELL a currency pair, you must choose a desired volume or trade size.

In forex trading, the trade size or volume will depend on your ACCOUNT LEVERAGE which will be set by your forex broker when you register your trading account with them. And the minimum trade size or volume that you can use is 1 MicroLot (0.01 lot). And depending on your ACCOUNT MARGIN, you can increase your trade size or volume in multiples of 1 MicroLot (0.01 lot).

  • 1 MicroLotĀ  – 0.01 lot or 1,000 units of currency you want to buy or sell.
  • 1 MiniLotĀ  – 0.10 lot. (10 MicroLots) or 10,000 units of currency you want to buy or sell.
  • 1 Standard Lot – 1.00 lot. (10 MiniLots or 100 MicroLots) or 100,000 units of currency you want to buy or sell.

So going back to our example, you already gained $0.17654 points right?

If you used a volume of 1 MicroLot (assuming your ACCOUNT MARGIN will allow you to open a 1 MicroLot), you are essentially saying you want to buy 1,000 units of EURO at the current market price of $1.12346 and since the price went up to $1.30000 as you predicted, so you profited $176.54 USD ($1.30000 – $1.12346 = $0.17654 X 1,000 units)

If however, you used a volume of 1 MiniLot (assuming your ACCOUNT MARGIN will allow you open a 1 MiniLot ), you are essentially saying you want to buy 10,000 units of EURO at the current market price of $1.12346 and since the price went up to $1.30000 as you predicted, so you profited $1,765.40 USD ($1.30000 – $1.12346 = $0.17654 X 10,000 units)

now, if you used a volume of 1 Standard Lot (assuming your ACCOUNT MARGIN will allow you open a 1 Standard Lot), you are essentially saying you want to buy 100,000 units of EURO at the current market price of $1.12346 and since the price went up to $1.30000 as you predicted, so you profited $17,654.00 USD ($1.30000 – $1.12346 = $0.17654 X 100,000 units)

So now you know that your actual profit or losses is based on the amount of volume you use. The less volume you use, the lower the PROFIT or LOSSES. the more volume volume you use, the higher the PROFIT or LOSSES.

More on forex trading

Forex trading is a necessary part for the world economy to prosper. Transactions on the FOREX market are performed by dealers at major banks around the world thru a FOREX brokerage company. So just remember that every time you are sleeping in the comfort of your bed wherever you are in the world; note that, people around the world conducts forex trading as dealers in Europe are trading currencies with their Asian counterparts and so as the US dealers are trading currencies with European dealers and vice versa to facilitate transactions.

Therefore, it is reasonable for you to believe that the FOREX market is active 24 hours a day and dealers at major institutions are working 24/7 in three different shifts. Clients may place take-profit and stop-loss orders with brokers for overnight execution. And price movements on the FOREX market are very smooth and without gaps (except when there’s major risk events over the weekend) that you face almost every morning on the stock market.

Indeed, the FOREX market never stops. The currency market is the largest and oldest financial market in the world. It is also called the foreign exchange market, or the FX market for short. It is the biggest and most liquid market in the world which according to the Triennial Central Bank Survey of foreign exchange, the daily turnover on the FOREX market is averaged somewhere around $5.1 trillion per day as of April 2016, so a new investor can enter and exit positions without any problems.

Because its such a huge market, when you compare the forex market against other markets, you will see that the currency futures market for example is only one per cent as big. And unlike the futures and stock markets, trading currencies is not centered on an exchange. Trading is conducted in whats called the Over The Counter (OTC) ie., it moves from major banking centers within the U.S down to Australia and New Zealand and into the Far East, to Europe and finally back to the U.S. Non-Stop!

In the past, the forex inter-bank market was not available to small speculators because of the large minimum transaction sizes and strict financial requirements. Banks, major currency dealers and sometimes even very large speculator were the principal dealers. Only they were able to take advantage of the currency market’s fantastic liquidity and strong trending nature of many of the world’s primary currency exchange rates.

Today, foreign exchange market brokers are able to break down the larger sized inter-bank units, and offer small traders like you and me the opportunity to buy or sell any number of these smaller units. These brokers give any size trader, including individual speculators or smaller companies, the option to trade at the same rates and price movements as the big players who once dominated the forex market.

As you can see, the foreign exchange market has come a long way. Being successful at it can be intimidating and difficult when you are new to the game. So if you want to step into this market, first thing you do is get the right knowledge and educate yourself until you feel ready to jump in.