Another factor which may encourage the trader Pips Wizard Pro to use a cross pair is the spread on a given currency. The spread is defined as the difference between the buying and selling of a currency. This is expressed as the number of pips (also known as points or ticks). On one cross the spread may be 4 pips on another 2 pips. Now for long-term trading this is less important, but for short-term trades this can make a big difference. Scalping is a trading strategy which looks for multiple short-term low value trades. If a currency pair moves 6 pips, then using the above figures, one currency will provide 2 pips profit, the other 4 pips. That is a 100% difference in profit.When looking at which currencies therefore to "pair" with each other, the trader should look for those which have high liquidity i.e. where there is most volume and where the spread is kept as small as possible. Traditionally the currencies which have been used for cross-currency pairs also appear as major currency pairs when matched with the United States dollar. These are the British Pound, the Euro, the Japanese Yen, the Australian Dollar, the New Zealand Dollar, the Canadian dollar and the Swiss frank.Kaz Kowalski has been providing specialist project management support on a number of high profile projects across a variety of industries including Banking, Information Technology, Telecommunications. In his spare time he has been successful in building and running a profitable Home Forex Business which has allowed him the option of reducing the time he spends on providing consultancy services. He has also helped others acquire the basic skills need to be successful traders.
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Pips Wizard Pro
by isbella isla (2019-03-02)
Another factor which may encourage the trader Pips Wizard Pro to use a cross pair is the spread on a given currency. The spread is defined as the difference between the buying and selling of a currency. This is expressed as the number of pips (also known as points or ticks). On one cross the spread may be 4 pips on another 2 pips. Now for long-term trading this is less important, but for short-term trades this can make a big difference. Scalping is a trading strategy which looks for multiple short-term low value trades. If a currency pair moves 6 pips, then using the above figures, one currency will provide 2 pips profit, the other 4 pips. That is a 100% difference in profit.When looking at which currencies therefore to "pair" with each other, the trader should look for those which have high liquidity i.e. where there is most volume and where the spread is kept as small as possible. Traditionally the currencies which have been used for cross-currency pairs also appear as major currency pairs when matched with the United States dollar. These are the British Pound, the Euro, the Japanese Yen, the Australian Dollar, the New Zealand Dollar, the Canadian dollar and the Swiss frank.Kaz Kowalski has been providing specialist project management support on a number of high profile projects across a variety of industries including Banking, Information Technology, Telecommunications. In his spare time he has been successful in building and running a profitable Home Forex Business which has allowed him the option of reducing the time he spends on providing consultancy services. He has also helped others acquire the basic skills need to be successful traders.
https://forexprofitideas.com/pips-wizard-pro-review/