BasicknowledgeTrading currency*GBP/USD=1.5545 represents a unit of poundcan exchanged for $1.5545. Four decimalplaces in the first two is ‘large", The third andthe fourth is point
Basic knowledge ❖Trading currency ❖GBP/USD=1.5545 represents a unit of pound ❖can exchanged for $1.5545. Four decimal places in the first two is “large”, The third and the fourth is “point
BasicknowledgeSpreadThe difference between the bid price and askprice is called spread. Such as 1 GBP =GBP/USD 1.5545/50 means that the buyer'soffer is 1.5545 USD, and the seller's askingprice is 1.5550 USD.Points of difference isfive points
Basic knowledge ❖Spread ❖The difference between the bid price and ask price is called spread. Such as 1 GBP = GBP/USD 1.5545/50 means that the buyer's offer is 1.5545 USD, and the seller's asking price is 1.5550 USD.Points of difference is five points
BasicknowledgeForeign exchange buying and sellingEvery time buy basic monetary means sellingsecondary currency accordingly. Also, sellingbasic currency means buying secondary themoney at the same time.1 GBP as traders sold, he had bought the1.5545 USD at the same time
Basic knowledge ❖Foreign exchange buying and selling ❖Every time buy basic monetary means selling secondary currency accordingly. Also, selling basic currency means buying secondary the money at the same time. ❖ 1 GBP as traders sold, he had bought the 1.5545 USD at the same time
BasicknowledgeTrading unitEach foreign exchange trading is a kind ofcurrency conversion to another currency. Basictrading in forex investors unit called a ‘hand""Consists of 100000 units of the basic currencyFor example， G/U=1.5847/1.5852，Buyhand in GBP/USD $1.5852 for 1 pound price100000 p0unds,is 158,520dollars
Basic knowledge ❖Trading unit ❖Each foreign exchange trading is a kind of currency conversion to another currency. Basic trading in forex investors unit called a “hand”, ❖Consists of 100000 units of the basic currency. ❖For example，G/U=1.5847/1.5852，Buy hand in GBP/USD $1.5852 for 1 pound price 100000 pounds,is 158,520dollars
BasicknowledgeDialogueprice inquirer : Calling spot USD HKD for pls?price quoter : 47/57price inquirer : Mine USD 3 或 Buy USD 3price quoter : OK,done.At 7.9757 we sell USD 3 againstHKD value 20/11/07,HKD pls to XYZ BK New York A/CNo.123.price inquirer : USD to ABC BK HongKong A/CNO.456789,TKS
Basic knowledge ❖ Dialogue ❖ price inquirer ：Calling spot USD HKD for pls? ❖ price quoter ：47/57 ❖ price inquirer ：Mine USD 3 或 Buy USD 3. ❖ price quoter ：OK,done.At 7.9757 we sell USD 3 against HKD value 20/11/07,HKD pls to XYZ BK New York A/C No.123. ❖ price inquirer ：USD to ABC BK HongKong A/C NO.456789,TKS