Forex traders use forex charts to evaluate movement in currency pairs and predict trends. If you correctly identify a trend, you can potentially Make Money in Forex turn a profit buying and selling in Forex. There are 3 types of Forex charts that are the most popular among traders: Candlestick charts, line charts, and bar charts. Foreign exchange is the exchange of one currency for another or the conversion of one currency into another currency. But first, the stats. A Bloomberg article in Nov. 2014 noted that based on reports to their clients by two of the biggest forex companies at the time—Gain Capital Holdings Inc. and FXCM Inc Using this example, if we traded 10,000 units of USD/CAD, then a one pip change to the exchange rate would be approximately a 0.98 USD change in the position value (10,000 units x 0.00009804 USD/unit).
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