If you pull the trigger to quickly on a buy or sell pick you may leave money on the table or may get - 4
Posted on: 30-11--0001 00:00
Some of the other most popular currencies are the Japanese Yen and the British Pound, and these currency pairs are always quoted as "USD/JPY" and "GBP/USD." These are not random pairings, but rather it has traditionally been for the ease of calculation that the stronger currency is the base currency and the weaker currency is the cross currency. The base currency always has a value of one, so when you see a price quote for the currency pair or you look at a price chart the value shown is how many units of the cross currency it takes to equal one unit of the base currency.When we see a currency pair such as USD/JPY with a value of 115.00, this is saying that one dollar equals 115 yen. Understanding the relationship between the base currency and the cross currency and learning to read currency pair price quotes in this way is essential when you want to make money in the forex market. A good exercise that can help you to better understand this relationship with currency pairs is to pick up your daily newspaper and turn to the financial section, where there will likely be a daily updated currency table.
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