Educational posts
✳ Most brokers categorize pairs into three type: . 1) Majors: These usually have the lowest spreads, as they are the most traded and very liquid. These include: EURUSD, GBPUSD, USDJPY, NZDUSD, AUDUSD, and a few other high liquidity pairs. . 2) Minors/Crosses: These pairs usually have a much higher spread (~2x the Majors) due to the lower liquidity. They are made up of pairs that don't contain the USD, but other major currencies. Some of these pairs are EURJPY, CHFJPY, AUDJPY, NZDJPY, EURCAD, AUDCHF, AUDJPY, etc.. . 3) Exotic Pairs: These pairs have the highest spreads (~3x the majors). These pairs are made up of one major currency (ex. USD, EUR) paired with the currency of an emerging economy (BRL, MXN, SGD, TRY). These pairs include: USDMXN, USDTRY, USDBRL, USDSGD, USDSEK, etc. . We hope this clears your doubts and teaches you something new! . . #technicalanalysis #forextrade #forexanalysis #forexeducation #forex #forexmarkets #forexchart #profit #money #forexmoney
Uncle Bull FX posted on Instagram: "✳ Most brokers categorize pairs into three type: . 1) Majors: These usually have the lowest..." * See 89 photos and videos on their profile.
Fun Fact: Did you know these currency nicknames? #UncleBull #Forex #Euro #USDollar #Kiwi #Aussie #technicalanalysis #forextrade #forexanalysis #forexeducation #forex #forexmarkets #forexchart #profit #money #forexmoney
5 Likes, 0 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Fun Fact: Did you know these currency nicknames? #UncleBull #Forex #Euro #USDollar #Kiwi #Aussie..."
To be successful in the Forex market, you have to be emotionless in your trading. . Never keep losing trade just because you are afraid of facing your incorrect analysis. . Reflection is Key 🔑
29 Likes, 1 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "To be successful in the Forex market, you have to be emotionless in your trading. . Never keep..."
Did you known that the top 3 banks (JPMorgan, Deutsche Bank, Citi) are responsible for 1/4 of all Forex trading volume! . Did you learn something new today? Comment below👇
51 Likes, 1 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Did you known that the top 3 banks (JPMorgan, Deutsche Bank, Citi) are responsible for 1/4 of all..."
Equity, Used Margin, and Free Margin. Three important terms that you will have to take into consideration when planning your trades, risk management, and even when creating your trading strategy/plan. . . If you have any questions about these terms, comment below 👇
64 Likes, 1 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Equity, Used Margin, and Free Margin. Three important terms that you will have to take into..."
The slang term originated in the mid-19th century, when the exchange rate between the U.S. dollar and British pound began to be transmitted across the Atlantic by a communication cable. Since that time the exchange rate has been referred to as the cable . Source: Wikipedia
50 Likes, 2 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "The slang term originated in the mid-19th century, when the exchange rate between the U.S. dollar..."
Many new traders make the mistake of underestimating the importance of Spread. . You might be surprised to know that high spreads can render your trading plan ineffective and useless 😅! . Therefore, we cannot stress enough on how careful you should be when choosing a broker with good spreads. . . 💡Pro Tip: Variable spreads can increase by 2-5x times during volatility, so keep this in your risk management plan when trading during such times. . . Did you learn something new? Comment below 👇
Uncle Bull FX shared a photo on Instagram: "Many new traders make the mistake of underestimating the importance of Spread. . You might be..." * See 89 photos and videos on their profile.
The only exception to the 4th decimal place rule is the Japanese Yen (JPY), as it is quoted to 2 decimal places only. Thus, we use the 2nd decimal place as our pip! . 💡 Pro Tip: Pip(s) is used a lot in the forex community, as many traders use it to describe their loss or profit (ex. I banked 50 pips yesterday!) . . Have you heard the term pip before?🤔
61 Likes, 2 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "The only exception to the 4th decimal place rule is the Japanese Yen (JPY), as it is quoted to 2..."
The Forex Market's trading volume is around $5 Trillion PER DAY! Can you imagine that? Whereby, the Stock Market's trading volume is roughly $200 billion per day. Therefore, it is easily clear that the Forex market is much more liquid and thus moves in a much faster pace. Which could be a good money-maker if you know how to trade it! Comment below 👇 if you learned something new! Source: DailyFX
61 Likes, 5 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "The Forex Market's trading volume is around $5 Trillion PER DAY! Can you imagine that? Whereby,..."
Pending Orders are an extremely useful tool that can help you save time and improve your trading. You just have to set the order (you can specifiy Take Profit/Stop Loss too) and it will be executed automatically. When to use each order? When you expect: 🔵 The price to FALL to a certain price and then INCREASE again = Buy Limit 🔴 The price to INCREASE and then FALL AGAIN = Sell Limit 🔵 If the price moves above this point, then it will continue to RAISE = Buy Stop 🔴 If the price moves below this point, then it will continue to FALL = Sell Stop . . _____________________________ #forextrader #forexlife #forex#forexquotes #forextraining#forexclass #forextrade #forexcourse#forexeducation #forexmarkets
145 Likes, 4 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Pending Orders are an extremely useful tool that can help you save time and improve your trading...."
Knowing how to read the charts is vital to understand what is happening in the market. Here are some basics that will get you started in understanding the basic elements of a chart and how to identify them. If you forgot what is a BID/ASK price, refer to our previous post! . . #forextrader #forexlife #forex#forexquotes #forextraining#forexclass #forextrade #forexcourse#forexeducation #forexmarkets
102 Likes, 2 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Knowing how to read the charts is vital to understand what is happening in the market. Here are..."
Buy and Sell are the two ways of trading to make profits in the FX market. Understand how each one works when the price moves up/down, so you don't make a beginner mistake once you start trading! . . #forextrader #forexlife #forex #forexquotes #forextraining #forexclass #forextrade #forexcourse #forexeducation #forexmarkets
40 Likes, 2 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Buy and Sell are the two ways of trading to make profits in the FX market. Understand how each one..."
Take Profit (TP) and Stop Loss (SL) are automatically executed even when you're not connected to the internet. Hence, they are extremely useful for managing your trades when you're on the move or away from your laptop/smartphone! . . #forextrader #forexlife #forex #forexquotes #forextraining #forexclass #forextrade #forexcourse #forexeducation #forexmarkets
20 Likes, 0 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Take Profit (TP) and Stop Loss (SL) are automatically executed even when you're not connected to..."
In the example above, you can see the quotes (aka. prices) for the pair EUR/USD as seen on a trading platform. FX Quotes are split into two: BID (aka. sell price) and ASK (aka. buy price). You will use both prices to place orders when you start trading! Therefore, knowing what each price refers to is very important. . . #forextrader #forexlife #forex #forexquotes #forextraining #forexclass #forextrade #forexcourse #forexeducation #forexmarkets
46 Likes, 1 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "In the example above, you can see the quotes (aka. prices) for the pair EUR/USD as seen on a..."
Defining FOREX. #UncleBull
14 Likes, 0 Comments - Uncle Bull FX (@unclebullfx) on Instagram: "Defining FOREX. #UncleBull"