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New to Forex
What is Forex Trading?
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Buying/Selling
First, the trader should determine whether they want to buy or sell. If they want to enter a short order whereby they will profit if the exchange rate falls they simply need to click on the SELL rate. The opposite holds true for traders who enter buy orders: they can simply click on the BUY rate, and thus will profit if the exchange rate goes up.
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Just like in all markets, there are two prices for every currency pair. The difference between these two prices is the spread, or the cost of the trade. In this example, the spread is three pips. On a mini account, a pip on the EUR/USD currency pair is worth $1. |
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