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The Bid price is the price a forex trader is willing to sell a currency pair for. Ask price is the price a trader will buy a currency pair at. Both of these prices are given in real-time and are constantly updating. So for example, the British pound against the US dollar has a bid price of 1.20720, that’s the price a trader wants to sell the GBPUSD. A seller who thinks a currency will decline, might sell at the bid price to take advantage of the fall. If the British pound against the US dollar has an ask price of 1.20740, that’s the price a trader wants to pay in order to buy the currency pair. The difference between the ask and the bid price is the spread.
The bid price represents the maximum price that a buyer is willing to pay for a share of stock or other security. The ask price represents the minimum price that a seller is willing to take for that same security. A trade or transaction occurs after the buyer and seller agree on a price for the security which is no higher than the bid and no lower than the ask. The difference between bid and ask prices, or the spread. I am currently trading with TP Global FX. I choose them as my broker because they are giving me the lowest spreads which is 0.01 pips. Their low spreads help me to make profit easily.
Trading without any loss is quite impossible in forex market. Not only new traders but also pro traders bear the losses in this market. If you want to trade without any loss, you can try demo account. In there, you will loss only the profit you earned by that demo account. You can reduce your loss by your brain and trading strategy. Reducing the loss and making profit should be your goal as a trader. Your broker can help you to achieve this goal. I use Tpglobalfx. They are so good and helpful. In spite of that I have to face losses sometimes. But it is true that they help me very much to reduce my losses and help to make profit after having loss.
To be a successful trader you must follow the basic rules of forex. If you want to be a successful trader you have to choose a reliable broker and gain strong knowledge about forex. You can’t be successful without a reliable broker and strong knowledge. I trade with Forex4you. They are a very reliable broker. I trade with them full of my forex knowledge. They are very supportive and helpful. Their 24/7 helps always make me pleased. They are one of the best brokers I believe.
If you want to earn money from the forex market then you have to know all the basic knowledge about forex first. Without knowing anything about forex you can’t even survive in the forex market. A reliable broker and strong knowledge about forex can easily make you earn a lot of money from the forex market. I trade with Eurotrader. They are one of the best brokers I have ever worked.
Forex trading involve buying and selling currency. So, broker show two prices for trading, ask and bid. Ask price for buy and bid price for sell currency pair. Different between two prices is called spreads. Spreads is main source income for broker. Trader have to pay the spreads to trade in forex market. As for me, Eurotrader give me low and tight spreads in the market.
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