Stock Exchange or Foreign Exchange is the largest financial market in the world, with more than $ 3 trillion traded (trading) every day. By comparison, the Forex market size 100 times larger than the New York Stock Exchange, and three times the size of the combined Equity and Treasury markets (Equity and Treasury) the United States. Forex is a market that is conducted freely (the term, over-the-counter) because there is no centralized trading arena, which means that transactions can be conducted via telephone or the Internet globally, the banking network that are not centralized, multinational corporations, importers and exporters, brokers and currency traders. This contrasts with, for example, the NYSE, which is the centralized location of equity trading.
Forex means the buying of one currency and selling another currency simultaneously. Typically, the major currencies-the British pound (GBP), Euro (EUR), Japanese Yen (JPY) and Swiss Franc (CHF)-in-trading against the U.S. Dollar (USD). Pairs trading that does not include an element called cross USD pair, and this rarely happens.
Currency pairs are indicated by the base currency (base currency) as the first part of the pair, followed by currency supply (the quote currency). (For example, USD / JPY will make the U.S. dollar against the Japanese yen as the basis for bidding.)
Along with the currency pair is the quota, or the bid / ask prices. This is shown in the following formats: EUR / USD: 1.2836 1.2839. The first number in the series shows the bid price, cost of sales of Euro against the Dollar, or 'going short' against the euro. The second number is the ask price, the purchase price of the Euro against the dollar, or 'going long' against the euro. The difference between the bid / ask spread is called a pip.
A pip is the smallest unit of measure of any currency. Almost in each currency, this is the fifth digit, or four after the decimal point; in dollar terms, each pip is equal to one hundredth of a cent. One important exception is the Japanese Yen, in which each pip is the second unit after the decimal point, which means that every pip equals one penny.
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