| Forex trading is the new way to make money by | | | | the "base currency". For instance, if the currency pair |
| trading foreign currency. If you haven't had a chance | | | | was USD/EUR, the currency pair is being quoted as |
| to look into Forex trading, I will try and explain some | | | | USD/ EUR =1.5 and then you purchase the pair. This |
| of the basics as well as discuss what automated | | | | will mean that for every 1.5 Euros you sell you will |
| forex software can help you with. | | | | purchase 1 USD. |
| Forex trading is a system that goes on 24 hours a | | | | There are multiple software packages that allow you |
| day, and unlike the stock market the Forex market | | | | to do you trading while you are away from your |
| keeps going even while you are sleeping or away | | | | computer. This in turn can increase your productivity |
| from your computer. The main part of the trading | | | | on the market by capitalizing on the peak hours that |
| involves a term coined "currency pairs". This involves | | | | certain currencies are traded. It will also display the |
| taking one kind of currency and pairing it with | | | | "ask" and "bid" of the currency pair simultaneously. It |
| another. The value of the first currency is determined | | | | can show you the time in "real time" as well as the |
| by its value compared to the other currency. The | | | | "ask" and "bid" price of the currency pairs you are |
| first currency in the pair is called the "base currency" | | | | looking for. This software can also track minute to |
| while the second in the pair is called the "quote | | | | minute reports on your trades. You can export these |
| currency". The currency pair shows what value of | | | | to .PDF, xls or HTML formats. |
| the "quote currency" is needed to purchase one of | | | | |