For more than 20 years, Mark Soberman’s NetPicks has advised forex, or FX, traders toward informed decisions through real time information, presented graphically, regarding currency price fluctuations. The data facilitate the on-the-spot trading preferred by average traders, who represent over $5 trillion in volume transacted on any given day.
An entire cadre of traders has emerged who buy and sell currency pairs over the internet, based on currency exchange rates rising and falling. Foreign exchange trading is continuous. Outside the U.S., cities with active forex markets include Paris, London, Tokyo and Sydney, where the US and Canadian dollar, the British pound, the Japanese yen and the Swiss franc are among the most popular currencies traded, countries with historically stable political and economic environments and predictable fiscal policies.
Offered through brokers, margin accounts create further financial opportunities, after considering the risk factors of a currency, as only one percent equity is needed to fund a leveraged trade. Currency price movements can be volatile, leading business owners to prefer the more sophisticated forward and futures markets, where the trader agrees to complete the transaction for a given price on a future date, as a way of hedging risk.
NetPicks advises learning the common forex terminology to inform that first trade. The price interest point, or PIP, is based on the movement, up or down, of the last decimal place of a particular currency. PIP is used to measure the difference, the spread, between a currency’s ask price and bid price. When a trader is ready to buy, the ask price is the cost, with the assumption the base currency will rise in value. When selling, the trader will receive the bid price, hoping the quote currency will fall vs. the base currency. The NetPicks website allows the trader to place the buy or sell order, while seeing the potential profit or loss in real time (netpicks.com)
More than a collection of charts and graphs, NetPicks offers an experienced team of trading coaches, educational and training aids, tech support and trading systems with more than 200,000 users currently benefitting.
Connect with Netpicks, visit Facebook.