Top 5 Forex Questions Answered

1, What’s different about the forex market?

Currency trading does not take place on a regulated exchange, nor does a governing body control it. Instead, members trade based on credit agreements, essentially relying on nothing more than a metaphorical handshake. And because FX participants must compete and cooperate with each other, self-regulation provides effective control.

2, What is a pip?

Pip stands for Percentage In Point. FX prices are quoted to the fourth decimal point. For example, if a bar of soap cost $1.20, it would be quoted in the FX market at 1.2000. One pip change would be 1.2001. A pip is the smallest increment in FX trading.

3, What are you really selling or buying in the currency market?

Nothing. The FX market is purely speculative, meaning all trades exist as computer entries. Profits and losses are calculated in dollars and recorded on the trader’s account.

4, Which currencies are traded in the forex markets?

The four major currency pairs are the euro/U.S dollar, the dollar/Japanese yen, the British pound/dollar, and the dollar/Swiss franc. The three major commodity pairs are the Australian dollar/U.S. dollar, the U.S. dollar/Canadian dollar, and New Zealand dollar/U.S. dollar.

5, What is a currency carry trade?

A trader buys one currency that has a high interest rate with another currency that has a lower interest rate. It’s the most popular trade on the currency market, but its declines can be rapid and severe when a majority of speculators decide a carry trade has poor potential and they try all at once to exit their positions.

 

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Daylight Savings Time

Spring is just around the corner but first we have to adjust our clocks for daylight savings time. Be sure to turn your clocks ahead one hour as daylight savings time begins at 2:00 am on Sunday, March 13, 2016

Learn about daylight savings time (http://en.wikipedia.org/wiki/Daylight_saving_time)
As a reminder, be sure to replace the batteries in your smoke alarm and if you have a digital thermostat with replaceable batteries, be sure and check or replace those batteries as well.

Learn about thermostats (http://en.wikipedia.org/wiki/Programmable_thermostat)

Leadership

By Anthony Jerdine| March 10, 2016

Leadership is something that everyone should work on become better at. Everyone in your life is looking for a leader and looking to be led.

Many people, though, don’t realize they they themselves can be that leader! Leadership is a concept that I’ve been working on my whole life and have learned quite a bit about.

Here are 5 ways to tell if you are a leader and how you can work on becoming a better one:

1: Leaders take ownership of their lives. They know they have the choice to be anyone or do anything they’d like, and they own it! They do not blame other people or situations, because they know that they themselves have the power to change their lives at any moment.

2. Leaders take action. They aren’t afraid to take action and know that this is the best way to gain experience and wisdom. Also, when you take action you set an example for every else, this automatically makes you a leader.

3. They are good communicators. Leaders are great communicators. You will not get too far if you cannot communicate effectively. To develop your communication skills, I recommend the book “How to Win Friends and Influence People” by Dale Carnegie.