Each trader needs to have several instances of MT4 working on his/her computer at the same time. At least one MT4 which is connected to a demo account, for analyzing the market, trying different indicators, trading systems, templates and… and one MT4 for the live account. Read the rest of this entry »

GBP JPY denotes currency pair British Pound & Japanese Yen. This pair is referred as “Sterling Yen” by traders. This shorthand detail or notation makes use of the ISO 4217 standard codes to indicate the foreign exchange rate of the United Kingdom’s Pound Sterling versus Japanese Yen. Read the rest of this entry »

NZD is a currency abbreviation for New Zealand dollar; it is an ISO 4217 and carries numeric representation 554. It is the officially certified national tender used by public within New Zealand, Pitcairn islands, Tokelau, Niue, and the Cook Islands. It belongs amongst major currencies and enjoys a special weight age amongst the dollar-dominated currencies of the world that fall in the major category. NZD or New Zealand Dollar is commonly and frequently referred to as “kiwi”. Read the rest of this entry »

The Canadian dollar popularly known amongst traders as well as non-traders as CAD, is signified by $; It is the official and government certified currency pertaining to Canada. It’s also called by a slang name - buck, just like Americans call their dollar by the same name. Later on in around 1996, as two dollar coin was introduced in the economy the French slang Loonie also became a popular term for Canadian currency. Read the rest of this entry »

European Central Bank also referred to as ECB globally is the central bank for official currency of Europe, the EURO. As of current year i.e. 2011; total 17 European Union member states have adopted the currency - Euro. The ECB’s most important function is to uphold the euro’s purchasing supremacy which in turn will help retention of steady price in the areas where euro is an officially circulating mode of exchange or tender. Read the rest of this entry »

AUD USD is an acronym that stands for or denotes one of the major currency trading pairs - Australian dollar and U.S. dollar currency pair. This currency pair is also called currency cross because it’s a derivative of currencies AUD and USD respectively. And it is also often called by the name Commodity Currency too. The reason is that Australian economy is highly influenced and dominated by commodity. Read the rest of this entry »

Demo trading is a good way of starting the trading business. It helps the novice traders develop their skills and learn the trading system they choose. Demo trading is like the flight simulator for pilots. While everything is tried to be the same as the real work, there are some differences naturally. Read the rest of this entry »

Currency trading is also popular by many other commonly used terms. Say, for example currency trading is also acknowledged as Forex trading, Fx Trading, currency pair trading and so on. This platform aids investors to assess and compare favorable and unfavorable features, ups and downs of various economies of the world and buy and sell currencies that belong to the economies depending on their suitability, in terms of familiarity, timing, knowledge, analyses, understanding, and in-depth study of the market. Read the rest of this entry »

The Swiss franc is denoted by acronym CHF which stands for the not very often used Confoederatio Helvetica Franc. Swiss Franc is what people prefer to refer to it in their day today life. CHF happens to be the legal and certified currency of exchange belonging to Switzerland and Liechtenstein. The only remaining currency across Europe still named franc, even the Central Bank of Switzerland uses the currency. Read the rest of this entry »

GBP – the British Pound is amongst the oldest currencies in circulation on date. The current currency code is denoted by GBP. The currency is also recognized by other names such as Sterling, British Pound Sterling and Pound Sterling. GBP is the official currency, circulating tender or mode of monetary exchange in areas like England, Scotland, Wales and Northern Ireland etc which form the Great Britain. The official symbol for British Pound is “£”. The GBP equals 100 pence. Read the rest of this entry »