Apemes http://www.apemes.com Thu, 26 Apr 2012 08:47:00 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Basics of Forex trading http://www.apemes.com/basics-of-forex-trading/ http://www.apemes.com/basics-of-forex-trading/#comments Thu, 26 Apr 2012 08:46:30 +0000 admin http://www.apemes.com/?p=10 Forex trading takes place when major banks, market makers and brokerage entities all over the world generate a marketplace for trading currencies on a 24/7 basis. It is the biggest financial network in the world and the days turnover is in trillion of dollars. It is also a rising market since more traders change to foreign currency trading from stocks. Some of the critical Forex basics include:

  1. Forex pairs

    2. The Foreign exchange market comprises the trading of foreign currency. It involves two currencies being traded simultaneously. This is called a pair. The currency pair symbolizes the quotation of the relative value of a currency unit in opposition to the other unit of another currency in the foreign exchange market. The two currencies provide a valuation based on converting one currency into the other.

  2. Forex pairs representation

    3. Trading pairs are represented as XXX/YYY. XXX is the base currency and YYY is the counter currency. Prices are always displayed in terms of the counter currency. The value of money is indicated in terms of the other. For instance, if EUR/USD is 1.5000 it means that 1 euro is worth USD1.5000.

  3. Popular currency pairs

    4. Some of the popular currencies include:

    • EUR/USD – (Euro/U.S. Dollar)
    • GBP/USD – (Great Britain Pound/ U.S. Dollar)
    • USD/AUD – (U.S. Dollar/Australian Dollar)
    • USD/CAD – (U.S. Dollar/Canadian Dollar)
    • USD/JYP – (U.S. Dollar/Japanese Yen)
    • USD/NZD – (U.S. Dollar/New Zealand Dollar)
    • USD/CHF – (U.S. Dollar/Swiss Franc)

    The currencies that do not contain the U.S. Dollar are known as cross currencies.

  4. Sell quote/bid price

    5. The selling quotation is displayed on the left and it is the price that a Forex trader can sell the base currency. The big difference between the selling quote and the buying quote or the bid price and offer price is the spread. It is recognized as the market maker’s bid price. For instance, if the EUR/USD quotes 1.5000/03, it means that you can sell 1 Euro at the big price of USD1.5000

  5. Buy quote/offer price

    6. The buy quote is displayed in the right and it is the price which a Forex trader can buy the base currency. It is also known as the market maker’s ask it offer price. For instance, if the EUR/USD quotes 1.5000/03 it means that you can buy 1 Euro at the price of USD1.5000

  6. Pip

This is the smallest price incremental in Forex trading. It stands for Percentage In point (PIP). For instance I pip = 0.0001 for EUR/USD or 0.01 for USD/JYP

]]> http://www.apemes.com/basics-of-forex-trading/feed/ 0 False credit repair companies http://www.apemes.com/false-credit-repair-companies/ http://www.apemes.com/false-credit-repair-companies/#comments Thu, 26 Apr 2012 08:41:27 +0000 admin http://www.apemes.com/?p=6 There are many advertisements in the television, the media, and newspapers and on the Internet about companies that offer credit repair services. They use catchy lines to entice you to use their services. You should not believe these claims. Most of them are scams. The National Consumer Protection Agency says that there is no legitimate company that advertises with such claims. This is because there is no quick fix to creditworthiness. You can and should improve your credit report legitimately. This takes time, it is a conscious effort and it requires one to stick to a personal debt repayment plan.

Recognizing a credit repair scam

Very many companies target people who have negative or poor credit histories in a bid to help them out of it. They allege that they can help them get a loan, car insurance, home mortgage, insurance and even get them a job once they are paid a fee. The truth of the matter is that these companies are scams and they cannot deliver an improved credit report. Removing any item from the credit reporting without following the right correction procedure is illegal. When dealing with such companies, they ask you to pay a huge amount of money for the service but you still end up with the same credit report. Some of the ways of knowing if you are dealing with an illegal credit repair company include:

  • The company wants you to pay before they can provide any service. The Credit Repair Organization Act does not allow you to pay the credit repair companies until they have delivered on the work given to them
  • The company does not tell you your rights and what you can do for yourself for free. Sometimes they urge you not to contact the three major national credit reporting services directly
  • The company tells you that they can remove any negative credit information on the credit report even if it is accurate or current
  • The company suggests to you that you can use a new identity to use with your next credit application by applying for an Employers Identification Number instead of using the Social Security Number
  • The company advises you to dispute all the information on the credit report regardless of whether it is accurate or not

If you follow this advice, you will be getting into a scam and will be committing fraud. It is a federal crime to lie about a loan or any credit information, misrepresent your Employer Identification number. This can lead to being charged and prosecuted.

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