Sunday, April 14, 2024

Forex Quotes: How to Read and Understand

Forex Quotes is a dynamic table that shows the main stock indicators and a stock status. Usually, the traders read the quotes in real time. Meanwhile, the table may include as many stocks as the trader wants. Each trading participant (regardless of his/her location) sees the same stock quote table as all the rest.

You will see some abbreviations in the upper line of the table. Let’s find out what they mean:

Sуmbol — an abbreviation assigned to a security for trading purposes.
Bid — the highest price a buyer is ready to pay for an asset.
Ask — the lowest price a seller of a stock is ready to accept for a share of that given stock.
AskSize — the amount of a security that a market maker is offering to sell at the Ask price (1 bid = 100 shares).
BidSize — the quantity of a security that investors are ready to buy at a Bid price (1 bid = 100 shares).
Size — a short record of the value of BidSize and AskSize.
Tick — a measure of the minimum upward or downward movement in the price of a security.
Change — the difference between a stock’s closing price on a trading day and its closing price on the previous trading day.
Chg% — the percent value of price change.
Volume — the amount of shares traded over the course of a trading day.
High — the highest stock price today.
Low — the lowest stock price today.
Last — the last transaction price.
LastSize — the number of shares tradedpurchased at this price.

TOP 5 tips for reading currency pairs

To make a decision in stock market, the trader has to make a great effort.

Although there are lots of techniques for a profitable trading, experienced traders advise beginners to stick to the following rules:

1. Take a long position when buying a currency pair only if you think that the base currency will strengthen against the quote currency.

2. Select a specific time frame for analysis and save it, because you need to enter the market during a particular period.

3. Understand that the time indicated under the chart corresponds to a specific time zone (charts are created for a specific exchange time).

4. When buying currency, keep in mind that the price charts sometimes display only the Bid price. But you should also consider the Ask price (offer price), as the purchase is made at the Ask price, which is slightly lower than the bid price.

5. Check if the program component of the chart differs from others in terms of the candle closing and opening time.

Online trading opportunities

Of course, online trading opportunities aren’t limited to currency transactions. Modern platforms allow you to trade not only currency pairs but also index rates and popular cryptocurrencies. Such services also have a great informative value by broadcasting the currency rates online in real-time.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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