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Beginners Tips for Ladies in Forex Trading

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Beginners Tips for Ladies in Forex Trading Powered By Docstoc
					Ladies, have you heard about forex trading? Have you also heard that it
needs complicated technical analysis? No wonder now if you are not
interested in forex trading. Perhaps, the fact that forex trading is
potential to be profitable investment could make you open your mind now.
This article tries to simplify the -˜complicated technical analysis' for
ladies by talking about it in the point of view of -¦ shoppers!      How
do you feel if you receive text in your mobile telling that today you can
buy the newest BodyShop perfume 30% lower compared to the price you have
checked last week? If you really want it, absolutely you will buy it
before the promotion last. The text is simply telling you the price
change of the perfume. If you invest in forex, let say you have bought
Japanese Yen, how you could gain profit? You should sell it when the -
˜price' of the Yen increases! If you want to invest in Euro, when is the
perfect time to buy and start investing? When the -˜price' of Euro
decreases! It is simple, right? So how do you know if the Yen is
increased and the Euro is decreased? You can know it by looking at forex
chart.


  Ladies, forex chart basically is the price information about Yen, Euro
and other currencies. The chart is provided is line chart, point and
figure. When the line is going up, the price is increased, vice versa.
How could we determine the -˜price' in forex market? The price of Yen and
Euro should be quoted in other currencies such as US dollar. This is why
they call the price as exchange rate. Keep it simple, the exchange rate
will be stated as JPY/USD or EUR/USD. For example, if the exchange rate
is JPY/USD = 0.52, it means for every Yen you can purchase it with USD
0.52. This exchange rate will not be static, it will change from time to
time. In rapid changes in political or economic the changes in a day will
be more likely to happen a lot.      Start to get confused now? No need!
Forex chart records the changes of the exchange rate daily, weekly,
monthly and even yearly. The make it as a combination of dots in line
diagram forming a line. You can see that it could be upward, downward and
most of the time combination of both. If the EUR/USD is downward, it
means that it is now cheaper to buy Euro, vice versa. If you can draw a
line chart for your perfume price, that how actually a forex chart is.
The last lesson for ladies about this chart is how to get this chart? If
you want for free, just sit during news time in front of TV, there must
be a section for business mentioning the changes in exchange rate. What
if you want to know the changes at any time you want, because you don't
want to loss chance to make forex gain. You should install software in
your computer, connect to internet and get the recent updates by simple
clicks.      In summary, to understand forex trading, you need to know
the price of the currency you want to invest. Since that currency should
be valued by other currency, the price will be stated as forex exchange
rate rather than single price like your perfume. Forexc chart will show
you the changes of the exchange rate and inform you if now is the time to
buy or to sell your forex. Isn't it simple?! More about Forex Chart


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posted:11/17/2011
language:English
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