Q. "Trader X recently sent out a Forex trade to short (sell) the EUR/ZAR. I am currently trading Forex CFDs and would like to ask how I can calculate the minimum rands risked per pip movement if I traded 5 CFDs. Do you have a formula to help with this?”
A. Hi John S, yes I can absolutely help with this.
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If you've decided that you want to start trading forex, you'll need to find a way to trade currencies.
You have a couple of options. It all comes down to what currencies you want to trade.
Let's take a closer look…
Trading forex with currency futures
You need to decide which currencies you want to trade.
If you want to trade the rand against a number of internat... ››› more
Short-term trading can be very profitable. You can potentially make money from the rises and falls in the price of many different assets.
So if you want to give trading a go, the first thing you need to decide is what you're going to trade.
Here are your options…
Trading option #1: Shares
This is perhaps one of the most common forms of trading.
Using a wide variety of trading t... ››› more
If you want to start trading, there are a number of different instruments that you can use. One of the popular ones is contracts for difference (CFDs).
So how can you find out whether or not CFDs are for you?
Read on to find out…
What are CFDs?
When you trade CFDs, you enter an agreement with a trading company or stock broker to exchange the difference between the closing price of... ››› more
Most traders are familiar with trading contracts for difference (CFDs) through a trading company and stock brokers.
But do you know there is another type of CFD you can trade in South Africa?
These are exchange traded CFDs or eCFDs.
So what makes eCFDs different from ‘normal' CFDs?
Let's take a look…
What are eCFDs?
eCFDs are contracts for difference that trade through an... ››› more
If you want to trade forex, you'll find out there are a huge number of currencies that you can trade.
But when it comes to actually trading yourself, you should only concentrate on a select few.
So what are these currencies? And why should you trade them?
Read on to find out…
What currencies you should trade
With forex trading, you want to trade the currencies that are the most... ››› more
If you want to trade the world's currencies, there are a number of ways you can go about it.
The first thing you need to decide is what currencies you want to trade. Once you know this, you can pick the right instrument for you.
There are essentially three different instruments you can use to trade forex.
Read on to find out more…
Using currency futures to trade forex
If you ... ››› more
If you opt to trade forex, you can obtain gearing of up to 500 times.
This is great if your trades all work out as planned. But if you're just starting out or don't like this high level of gearing, you can opt for a less risky method.
So what is this less risky way of trading currencies?
It's currency CFDs.
Read on to find out more…
What are currency CFDs?
Currency CFDs (co... ››› more
Until recently, you only had two ways to trade currencies in South Africa. You could use currency futures to trade the rand against major currencies or you could spread trade international currencies.
But now, forex CFDs (contracts for difference) are available through some trading companies.
So what exactly are forex CFDs?
Let's take a closer look…
What are CFDs?
Before we loo... ››› more
If trading forex appeals to you, you need to have a firm grasp of how the market works before you can even think about starting to trade.
So what are the basics you need to know about forex trading as a beginner?
Read on to find out…
The appeal of the forex market
The forex market is a very large, liquid financial market. Around $4 trillion trades on the market each day.
Forex ... ››› more
When you trade currencies, you can't just decide to trade one currency, for example the dollar. Currencies trade in pairs, for instance, the dollar/euro.
This means you buy and sell a currency pair simultaneously.
So how does this work?
Read on to find out more…
How to read a currency pair quote
A currency trade means you trade two currencies. One is the base currency and the o... ››› more
If you're interested in trading international currencies, the good news is it's never been easier. And you don't need to use your offshore allowance.
You have a couple of options. It all depends on what currencies you want to trade.
Let's take a closer look at how you can get started…
What is currency trading?
Currency trading involves trading the foreign exchange market. This is ... ››› more
If you want to start forex trading, where do you start?
You need to know how forex trading works, how best to select trades and how to get a trading account up and running.
Read on to find out more…
Step one: How forex trading works
Forex trading involves trading different currency pairs. You can either opt to trade the rand against different major currencies or opt to trade inter... ››› more
If you want to start forex trading, you'll have to pay to put on trades.
So how much will it cost?
It depends on whether you opt to trade currency futures or spread trade currencies.
Let's take a closer look…
The different types of forex trading account available
With forex trading, you have two options when it comes to trading accounts:
If you want to trade the rand ... ››› more
If you want to speculate on where the market's going, spread trading could be the tool for you.
With spread trading, you're not just limited to shares, you can trade indexes, commodities and currencies too.
So are there expiry dates on trades like with single stock futures? And how does the spread impact your trading?
Read on to find out more…
Does spread trading have expiry dates... ››› more
If you want to trade currencies, you'll need to know a few basics before you get started.
This includes how the currencies market work. How currencies are quoted. And how to measure their price movements.
Read on to find out more…
The ins and outs of the currencies market
The currencies market (otherwise known as the forex market) is the market where you can buy, sell, exchange or... ››› more
If you want to trade forex, you need to know how it all works.
When you trade forex, you take a view on how one currency will perform against another one. And that's why you trade currencies in pairs.
So how does it all work?
Let's take a closer look…
A look at how forex trading works
Let’s see how forex trading works with the help of an example…
You decide to speculate ... ››› more
Once you've decided to trade forex, you'll need a trading account to do this from.
You have two choices when it comes to trading forex. You can trade currency futures or your can spread trade currencies.
The process for opening either of these accounts is similar.
Let's take a closer look at what you need to do…
Decide on how you’re going to trade forex
The two different ways... ››› more
If you decide to trade forex, you have two ways to do it. You can use currency futures or spread trading.
The type of instrument you pick will depend on the currencies you're trading. If you want to trade the rand against major currencies, you need to use currency futures. If you want to trade major currencies, you need to use spread trading.
So if you want to short a major currency, how doe... ››› more
If you're thinking about trading forex but you're not quite sure, then read on.
Forex trading has a number of advantages over trading and investing on the stock market. And it can be a welcome addition to your current investment strategy.
So what are these advantages?
Let's take a closer look…
Why forex trading may be perfect for you
Trade forex reason #1: The market is very ... ››› more
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