Understanding Bid & Ask

A Bid is what someone is willing to pay for an asset. The Ask, or offer, is what someone is willing to accept to sell an asset. As a Forex trader, you can Buy at the Ask and Sell at the Bid.

Understanding the Forex exchange quote system is essential to Forex trading. You need to remember that the first currency listed in the symbol is the base currency, and the quote is the base currency in terms of the second currency in the symbol. Major currency pairs are EUR/USD, GBP/USD, USD/JPY, and USD/CHF.

Forex Tips

Here are my tips if you want to play forex trading:

• Please, do some exercise or practice before you plunge in to a real investment.
• Never invest more than you can afford to lose - you will see this almost on every site and e-book, but think about it, allow some money for investment and don't get into this madness.
• When you get your target profit, don’t try to push too hard of your self and want more.
• Just Stop! Sometimes luck did not come in the second try, beside at this time your emotion is higher than your logical.
• Don't be greedy.
• Exit stop loss is important, do not trade without exit stop loss.