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Forex

This is a presentation I made for giving ideas on forex market

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Forex

  1. 1. Forex Trading
  2. 2. Rahat 131-116-051 BBA 29th Metropolitan University, Sylhet
  3. 3. ACKNOWLEDGEMENT Writing this report appeared to be a great experience to us. It added a lot to our knowledge. This report is one of our memorable experiences in student life. Though words are inadequate in offering thanks to our teacher Mr. Touhidul Islam Chowdhury Executive summary This is a semester project regarding ‘FOREX TRADING’. It starts with the short introduction about ‘FOREX’, and ‘FOREX’ market. It also contains the basic tools and techniques and other staffs which are needed to learn about ‘FOREX’. It also gives a briefing about how to open a ‘FOREX’ business profile and about the trading process.
  4. 4.  The FOREX market, established in 1971, was created when floating exchange rates began to materialize  The largest foreign exchange activity retains the spot exchange between five major currencies: US Dollar, British Pound, Japanese Yen, Euro dollar and the Swiss Franc.  It is also the largest financial market in the world. In comparison, the US stock market may trade $10 billion in one day, whereas the FOREX market will trade up to $2 trillion in one single day
  5. 5. Currency included Currency Full name AUD Australian Dollar CAD Canadian Dollar CHF Swiss Franc JPY Japanese Yen NZD Newzeland Dollar USD US Dollar BGN Bulgarian Lev RON Romanian New Lev TRY Turkish Lira EUR Euro CZK Czech Koruna DKK Danish Krone HKD Hong Kong Dollar HUF Hungarian Forint ILS Israeli Shekel MXN Mexican Peso NOK Norwegian Krone PLN Polish Zloty RUB Russian Ruble SEK Swedish Krone SGD Singapore Dollar ZAR South African Rand GBP British Pound
  6. 6. Currency pair In FOREX market all trades are done by Currency pair. Because, foreign currencies are traded all over the world. So it is difficult to consider the exact price of a currency. For example, EUR/USD is a currency pair. Currently, 1EUR/USD=1.1266. That means, 1 EURO can give us 1.1126 Dollar. Pips “Price interest point” known as pips. A pip measures the amount of change in the exchange rates for a currency pair. For example, EUR/USD=1.1263(previously), currently it is 1.1266, amount of change= 1.1266-1.1263=0.0003, So, EUR/USD changed by 3 pips
  7. 7. Time frame Time frame indicates the fluctuation of price of a certain time period such as 5 minute, 15minute, 1 hour, 1 week, 1 month. The most useable time frames are:- M1, M5, M15, M30, H1, H4, D1, W1, MN Lot/volume In FOREX market we can gain from each pips movement. Suppose, price goes from 1.1710 to 1.1720 then the loss or profit will be calculated counting 10 pips. By lot/volume we will indicate the amount of loss or profit by the favorable or unfavorable movement of per pips. Rest of them are:- Ask, Bid, Spread, Broker, Short, Long, Closing rate, opening rate, leverage
  8. 8. Historical data of currencies Historical exchange rates of some major currency pair, such as: EUR/USD, EUR/GBP
  9. 9. Present data of currencies
  10. 10. Tools and Techniques of FOREX trade FOREX platforms These are application software that enables us to sell or buy currency in real time. Example: FOREXTrader, MetaTrader, Tradeable FOREX hours The FOREX market is the only 24-hour market, opening Sunday 5 PM EST, and running continuously until Friday 5 PM EST. The FOREX day starts with the opening of Sydney’s (Australia) FOREX market at 5:00 PM EST (10:00 PM GMT/ 22:00), and ends with the closing of New York’s market, a day after, at 5:00PM EST (10:00 PM GMT / 22:00), immediately reopening in Sydney restart trading.
  11. 11. Exotic pairs When a minor currency combines with major currency as fulfillment of currency pair, then the pair is called Exotic Pairs. For example, USD/HKD, USD/MXN FOREX chart There are 3 types of chart- Line Chart
  12. 12. OHLC Bar Chart Candlestick Chart
  13. 13. Trend line A line that is drawn over pivot highs or under pivot lows to show the prevailing direction of price. Trend lines are a visual representation of support and resistance in any time frame.
  14. 14. Indicator One kind of tools that indicates whether the price will increase or decrease. It helps vastly, because most of the time it remains unknown that price is increasing or decreasing. Example: Bollinger Bands, Parabolic Sar, ADS Analysis • Fundamental analysis: This analysis is done by considering economical, social and political situation • Technical analysis: This analysis is done by considering the movement of the price. Also there are many technical tools to do so. • Sentimental analysis: This analysis is done by considering own opinion of individual traders.
  15. 15. OPENING A BUSINESS PROFILE There are usually two types of account- (1)Risk free demo account (for practicing) (2)Real account (1)Risk free demo account (for practicing) It is very easy to open a demo account, just by filling the following information: Name, Address, Email, Phone number, Account currency type, Password for trading account, Date of birth, Citizenship, Employment status In FXCM by opening a demo account we can get $50,000 virtual dollar to practice trade………account can be open in Onada FXTrade, AvaTrade, Plus500, Finexo, FOREXTrader PRO, Meta Trader
  16. 16. (2)Real account Here all the things are same as opening a demo account. Only the exception is n real account we have to invest money i.e. there exist a payment procedure. The process of opening a real account is given below:
  17. 17. Then in 3rd step we have fill in some personal information. Then we have to complete the payment procedure. The payment procedure can be done through PayPal, Netteler, Master cards, Web money, Western Union, For exapmle if we invest 10,000 BDT in a broker firm , we will get $120[$100+$20(bonus)] in our total equity balance After the payment a confirmation will be given by the broker about the account information(balance with bonus). Then individual can start their own trading by login into their preferred application
  18. 18. The trade Now the process of a trade will be given: (1)After login to Meta trader application we can see the following screen:
  19. 19. (2)Suppose, we are going to trade EUR/USD. From market watch window we will click to EUR/USD. Then the following screen will appear:
  20. 20. (3)If we want to buy EUR/USD we have to click the option “buy”. Then the following screen will appear:
  21. 21. (4)If we want to set ‘take profit’ and ‘stop loss’ option then we have to double click Those option. The following screen will appear:
  22. 22. The impact of ‘news’ on exchange rate of currency If the forecasted value is greater than the actual then the economy of a country will be acknowledged as in good position and if the forecasted value is less than the actual then the economy of a country will be acknowledged as in a bad position. The price fluctuates more and more when news are released. Normally it is assumed that if a country is doing well in economy then their currency rate will raise and if not doing well their currency rate will fall.
  23. 23. The impact of news are typified in 4 categories: (1)High impact(Red colored) (2)Medium impact(Orange colored) (3)Low impact(Yellow colored) (4)Non-economic impact(White colored)
  24. 24. Is FOREX profitable? FOREX is exciting and with the right guidance and a bit of luck anyone can earn 500%, 600% and even 2000% returns. But FOREX is not for everyone. If anyone prefer the penny slots to the high roller tables, then the high stakes world of FOREX is not for them. So, FOREX is highly profitable, but it is not for all.
  25. 25. References (1)www.fxcm.com (2)www.forex-brokers-online.com (3)www.bdforexschool.com (4)www.tinyforex.blogspot.com (5)www.forex.com (6)www.babypips.com (7)www.forex-bd.com (8)www.fxstreet.com (9)www.fxbook.com (10)www.bdpips.com
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This is a presentation I made for giving ideas on forex market

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