Some Basics ...

Hello peeps ,

Today i will write about some basic concepts/precerpts that is used in the world of Forex today . It is pretty basic , but i would like to add it here just the same as i want it to be kept here , in Cyberspace forever ... ( duhhh that long eh ? ) :)

Part Uno

- FX = stands for Forex . ( Non negotiable point )

- Currency pairs = Forex is always traded in pairs . Eg: EUR/USD . That means the Euro against the USD . The first currency is also called the "base" currency , and the second currency is called the "quote" currency . When you buy a currency , it means that you "buy" the base currency and "sell" the quote currency . And when you sell a currency , it always means that you "sell" the base currency and "buy" the quote currency ...

Whew , quite a mouthfull . Class dismissed !! :)