What is Forex?

What is Forex?

The Forex (foreign exchange, FX, or 4X) market is a market where one currency is traded for another. It is the largest financial market in the world, with daily turnover in the trillions of dollars. Forex trading involves trading currency pairs such as the EUR/USD pair (Eurodollar/US dollar pair) where a buyer of this pair would actually be buying the Eurodollar and simultaneously selling short the US dollar.

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What is a pip?

What is a pip?

A pip is the minimum increment that a currency pair price can change. For example, if the EUR/USD price changes from 1.3790 to 1.3791, the price is said to have gone up by 1 pip. Most major pairs are priced to 4 decimals which is the equivalent of 1/100th of one percent. The exception would be the Japanese Yen pair that only trades to 2 decimals. This is because there are usually over 100 yen to the dollar.

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Is the Forex Profit Accelerator a system or a method?

Is the Forex Profit Accelerator a system or a method?

The Forex Profit Accelerator is a method. Bill Poulos' goal is to teach you 4 separate trading methods that you will own for life. This will empower you to make your own decisions in the markets so that you never have to rely on another "guru" again. Further, you will be able to hand down your knowledge as a trader to your children or other family members.

An important word about systems and back testing. "Black box" mechanical trading systems can be computer back tested - the real world of trading with good trading methods cannot.  The Forex Profit Accelerator is a step-by-step, comprehensive set of trading methods that teach you how to trade.  And when you master these methods and develop a feel for the markets, you will own them for life.  As such, it is not possible to back test FPA, since everyone's results will differ based on their own ability to apply the trading rules, market conditions, slippage, the size of their account, and the number of trades they are able to place at any given time. Caution: be very wary of promises of unheard-of returns generated by curve-fit mechanical black box systems.

What kind of software do I need to trade the Forex Profit Accelerator methods?

What kind of software do I need to trade the Forex Profit Accelerator methods?

At a minimum, you need trading and charting software that has the ability to plot price data for currency pairs, and plot the basic indicators used for the four Forex Profit Accelerator methods. Thankfully, most good Forex brokers give you free software which can adequately achieve this. You can optionally use higher-end software which costs additional money, but this is not a requirement. The bottom line is that because the Forex Profit Accelerator is a series of trading methods, you are not tied down to just using one particular piece of software; instead, you have the flexibility to use a variety of solutions.