Michael Golembesky

Forex Education

Below are educational articles and Webinars covering the basics of forex trading and markets by Mike Golembesky, featured analyst of our EWT Forex Service.

Articles

All About Pairs - Introduction to Currency Pairs Mon Sep 21st 2015

What is a Currency Pair? A currency pair is any two currencies that are traded against each other. An example of a currency pair would be the EUR/USD or the Euro vs. US Dollar. The first currency listed is the called the "base" currency and the second currency listed is called the "quote", or sometimes the "counter" currency. For the EUR/USD pair the quote price is shown as how many US Dollars (the quote currency) 1 Euro (The base currency) could purchase. At the time of this writing 1 Euro could purchase 1.

Forex Interest Rates and End-of-Day Rollovers Thu Sep 17th 2015

When you are trading currencies your trades are subject to the interest rate differential between the two countries currencies that you are trading. When trading in the Spot Forex market this interest rate differential will be reflected as either a credit or a debit directly to your account. Additionally only trades that are held overnight are subject to this interest "carry". Trades are opened and closed during the same trading day not subject to interest carry.

What is a "PIP" Wed Sep 16th 2015

"PIP" is an acronym and stands for "Price Interest Point" or sometimes called "Point In Percentage". A PIP is the smallest increment of change for a particular currency pair. In currency pairs that are quoted out to four decimal places a pip is the last decimal place. For example the EUR/USD pair is quoted as 1.0968 so 1 pip is the last decimal place or in this case the 8. So it would take a change of 100 pips to move the pair 1 cent. One exception to this rule is the Yen currency pairs.

Webinars

How & Why to Trade Forex?

This 1-hour Webinar by Mike covers the benefits of Forex trading, plus:

  • How the FX markets work and who are the participants
  • What are the major/minor pairs?
  • How does leverage work in FX and how do you manage risk?
  • What are "Lots" & "Pips"
  • How to select a Forex broker
  • And much more!

Forex Trading Opportunities - Jan 24, 2017

Covered topics include:

  • What are the opportunities in forex trading?
  • How can Elliott Wave analysis provide an edge?
  • Which forex pairs are best to trade?
  • What are the key things to know to get started?