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The market in which participants from around the world are able to buy, sell, exchange and speculate on different currencies. International currency markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, retail forex brokers and investors.
Because the international currency markets are large and liquid, it is thought that they are extremely efficient. International currency transactions do no occur on a single exchange, but in a global computer network of large banks and brokers from around the world.
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"A standard forex account has specific trading lots and pip measurements of currency pair movement. A lot is the minimum quantity of a security that may be traded, while a pip is the smallest amount by which a currency quote can change. Typically, one regular trading unit lot is worth $100,000, a mini trading unit lot is worth $10,000 and these are the most common lot sizes. Other "lot" sizes are available depending on which Forex currency trading broker you trade with. A pip unit is the maesurement of currency price movement. A pip is stated in the amount of $0.0001 for U.S.-dollar related currency pairs. For the most part 100 pip move is equal to a one cent move. It is important to note that pip value does not vary based on the amount of leverage used, but rather that the amount of leverage you have and use affects the dollar value multiplied by the pip movement of the currency pair trade that you are currently engaged in.
Leverage is the amount of money you are able to spend as a result of borrowing investment capital from your currency broker. Basically, the more leveraged you use, the more capital you have at risk in your position - a decrease of a one cent (100 pips)could mean losing all of the money in your account. For example, with a standard lot size of $100,000, pip value is $10 ($100,000 x 0.0001). If your account contains $10,000 and you have a leverage of 100:1, then you will have $1 million of available potential trading funds($10,000 x 100) or 10 lots ($1,000,000/$100,000) that you can use for investing in the currency market. It would be extremely risky to use the entire $1 million that you have available for trading because each pip would be worth $100 and you could clean out your account just by losing 100 pips ($10,000/100). Although there is large downside risk to having high leverage, there is also a large upside for potnetial gain - if you were to make 100 pips (one cent) instead, your original account value of $10,000 would double to $20,000, and you would rake in 100% returns in one hour, one day, one month or whatever the time frame the gain happened over!"
Good Trading,
Anthony DiChi
TradeCurrencyNow.com
