Forex Trading Frequently Asked Questions
What is the Foreign Exchange Market?
The Forex (Foreign exchange) market is a giant and highly liquid financial market operating 24/5. The Forex market is a 100% decentralized market that is based on the Electronic Network of the banks (ECN). World currencies are traded within Forex in pairs and it is estimated that the daily volume activity in Forex today is reaching 4 trillion USD.
What is a Currency Pair?
A currency pair includes two currencies that indicate an exchange rate. For example, the currency pair is EUR/USD. The first quote of the two pairs (EUR in the example) is called the Base Currency. The second quote in the pair (USD in the example) is called the counter pair. All currencies are indicated with specific symbols, here are the most popular symbols:
USD is the Forex symbol of the US Dollar
EUR is the Forex symbol of the Euro
GBP is the Forex symbol of the British Pound Sterling
JPY is the Forex symbol of the Japanese Yen
CHF is the Forex symbol of the Swiss Franc
AUD is the Forex symbol of the Australian Dollar
CAD is the Forex symbol of the Canadian Dollar
NZD is the Forex symbol of the New Zealand Dollar
The most popular currency pairs are EUR/USD, USDJPY, and GBP/USD. Why popular pairs are important for traders? Because popularity means liquidity, and liquidity means narrower spreads. The magnitude of the spread defines to a high extent the profitability potential of any Forex trader.
Forex Sakura Robot Review
- Forex Robot: Forex Sakura (Japanese Style)
- Robot Style: Scalping EURUSD, USDJPY in H1 Timeframes
- Platform: MetaTrader4
- License: 2 Real Accounts
- Cost: 98 USD (one-time)
This is the review of the new Forex Sakura Robot.
Introduction to the Forex Sakura
The Forex Sakura is a very innovative Forex Robot that works on Metatarder4 and trades only two Forex currencies (EURUSD, USDJPY) in a fully automated mode. The robot offers easy installation and configuration but for those wishing to customize it, it offers many options to fit any trading style. The robot incorporates unique filters as the News-Filter which allows the avoidance of trading during days of important news. The robot uses also additional filters to avoid high spread and to avoid trading in sessions without strong trends (flat markets). Overall, what characterizes the Forex Sakura is its ability to perform selective trading and adapt to any market conditions. The selection includes trading hours, stealth mode, spread control, sensitive TP and SL, and many other filters as presented below.