What I learned from Mr. Mario Singh- Part 2

Pip= what puts money in your pocket . It's the change in value between currencies.

1 Pip= USD $ 10 ( for Standard Lot)

Lot =  size of your trade which depends on your initial capital.

Ex. USD/JPY = 81.50 1 USD= 81.50 JPY

If price rises to 81.51 or greater , BUY (LONG)

If price lowers to 81.49 or lesser, SELL (SHORT)

Fraction Theory:

EUR = 1.350

USD

If EUR increase , BUY(LONG)

If USD increase, SELL (SHORT)

FOREX RULES:

The basis of the above rules should be the general trend of the Graph of the underlying currency pairs. If  the general trend  is Up , we can Buy or Long the currency pair but if its going Down , we need to Sell or Short the currency pair.  The Stop Loss is assigned in order to prevent further losses if you happen to made the wrong choice . The Profit Target is assigned usually twice the Stop Loss to make a profit to loss ratio of  2:1.

What I learned from Mr. Mario Singh about Forex 101

Fear should be defeated by Knowledge to win the game of Forex Trading or any endeavor .

One's desire to change his current plight will enable the Impossible” Earn millions in Forex”

Every loss when learned as a lesson can be a stepping stone to one's success.

Trading one currency against another : Base against Counter Currency

1. EURUSD - most traded worldwide
2. USDJPY
3. GBPUSD
4. USDCHF
5. USDCAD
6. AUDUSD
7. NZDUSD

Forex is trading 24 hrs x 5 days from Sunday evening to Friday with EurUsd trading more at 8:00 

EST. Forex is  more than 1.4 Trillion USD , much bigger than  NYSE, NASDAQ combined.

Forex Basics 101:

In this video Mr. Mario Singh , Asia's Best Forex trainer discussed  the fundamentals  of Forex trading.

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