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Forex Trading Terminologies You Need To Know

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Forex

Currency Pair

It refers to the quotation of a currency unit against another currency unit.

For instance, the euro and the US dollar together form the currency pair EUR/USD. The first currency (in our case, the euro) acts as the base currency while the second (the US dollar) acts as the quote currency.

Exchange Rate

This refers to the rate at which you trade a currency for another. The exchange rate indicates the amount of quote currency you require in order to purchase a unit of the base currency.

Example: EUR/USD = 1.3115. It implies that 1 euro (the base currency) is equal to 1.3115 US dollars (the quote currency).

The exchange rate could change within two days or a week, though. It could even stabilize for a while. However–when–is the question you may want to ask. 

The when becomes a question which no one is ever able to answer precisely. It relies on a number of social and economic factors, a majority of which you’d be able to watch closely as you begin to trade forex.

Why? Given the fact that currency rates may keep changing all the time, and you’d prefer to know when you should purchase a currency and sell another in order to make a profitable deal.

Pip 

Typically, the lowest and smaller increment where a currency pair is priced is known as a pip. Pips can be used to calculate movement in a forex pair. Pips prices could change often or move because of a trade’s timing as well as the amount which is being traded. 

Bid  

The price where the market maker/broker agrees to purchase a currency pair is called bid. The underlying currency pair’s value could affect the Bid price.

Ask  

The price at which the market maker/broker agrees to sell the currency pair. It may even be on the basis of the underlying currency pair.

Spread  

The difference between the Buy/Sell (Bid/Ask) prices as provided to traders on the trading platform. If a CFD provider promises lower spreads as compared to its competitors, it implies that traders will be able to make the most of a smaller difference between the Buy and Sell rate of the underlying FX trading pair. Spread may even be used to measure the liquidity of the market. 

Lot

Forex gets traded in lots. A standard lot consists of 100,000 units of the base currency, whereas a micro lot has 1,000 units.

For instance, in case you purchase a standard lot of EUR/USD at 1.3125, you purchase 100,000 Euros and you sell 131,250 US dollars. In the same way, as you sell a micro lot of EUR/USD at 1.3120, you sell 1,000 Euros to purchase 1,312. US dollars.

Leverage

Strictly speaking, using leverage you borrow funds from a forex broker to be able to trade bigger lots:

Leverage relies on the broker as well as its flexibility. However, do bear in mind that leverage may vary as well: it could be 100:1, 200:1, or even 500:1. Also note that with leverage you’ll be able to purchase $1,000 to be able to trade $100,000 (1,000×100) or $200,000 (1,000×200), or $500,000 (1,000×500).

Now how does it work?

To begin with, it relies on the kind of account you open and what the leverage would be for it and what would you actually require. The mantra is to neither be too greedy nor too shy. Leverage could be helpful in boosting gains as well as losses with the same magnitude. 

Next, your broker would require an initial margin on your account, which is a minimum deposit.

Margin

Margin refers to the minimum amount of funds, indicated as a percentage, which you will require if you wish to open a position and keep your positions open.

If you choose to trade on a 1% margin to give you an example, for every USD 100 you trade, you would have to have a deposit of USD 1. Thus, to be able to purchase a standard lot (i.e. 100,000 of USD/CHF), you would be required to maintain only 1% of the traded amount in your account i.e. USD 1,000. You may be wondering how you would be able to purchase 100,000 USD/JPY with simply USD 1,000? Essentially, margin trading includes a loan from the forex broker to the trader.

If you process a forex transaction, you don’t really purchase all the currency and deposit it into your trading account. You essentially speculate on the exchange rate. In simple words, you just estimate the way your exchange rate may move and make a contract-based agreement with your broker that he may pay you or vice versa on the basis of the accuracy of your prediction. 

Long Position

To enter a long position, you purchase a base currency.

If we assume that you pick the EUR/USD pair. You anticipate that the EUR will strengthen in comparison to the USD and thus you purchase EUR and earn a profit from its rising value. 

Short Position

To enter a short position, you sell a base currency. When you select the EUR/USD pair again but are expecting the EUR to weaken in comparison to the USD, you may sell the EUR and earn a profit from its falling value. 

Bear Market 

It refers to a falling market where traders are anticipating the rates to fall, which hints that there is likely to be more short selling (or traders ‘going short’).

Bull Market 

A bull market shows that the market is appreciating as the traders are keen to boost their long trading activity called ‘going long’.

Broker  

An individual or a firm which acts as an intermediary for traders and financial institutions to carry out transactions. Know more مجموعة ملتي بانك

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5 Can’t-Miss Ways To Explore Iceland

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Explore Iceland

Are you planning a trip to Iceland? If so, you’re in for a treat! The “Land of Fire and Ice” is an incredible destination with breathtaking views, vibrant culture, and plenty of exciting activities. While exploring the country can be intimidating, it doesn’t have to be. In this blog post, we’ll discuss five can’t-miss ways to explore Iceland, so you can make the most of your trip.

1) Rent a Car

Renting a car is one of the most popular ways to explore Iceland, as it offers a sense of freedom and flexibility that other methods of transportation don’t. Rental cars in Iceland will give you the opportunity to stop and admire the breathtaking scenery along the way. It also allows you to access places that are off-the-beaten-path and away from the crowds. If you’re interested in renting a car for your trip, make sure to do so in advance. You can rent a car from one of the many rental companies located at Keflavík International Airport, such as Avis, Budget, Europcar, and Hertz. 

2) Take the Bus

Taking the bus is a great way to explore Iceland without having to rent a car. Bus routes cover most of the country; so you can easily get from one part of the country to the other. Taking the bus is also much more affordable than renting a car. The main bus line in Iceland is called Strætó, and they have several different types of tickets. You can buy a single ticket, a day pass, or a tourist pass which allows you to travel anywhere in the country for an entire week. 

3) Take a Tour

Tours provide a safe and comfortable way to get around the country. From organised day trips to multi-day excursions, there are plenty of tour packages available to suit every budget and itinerary. Whether you’re interested in waterfalls, glaciers, geysers, hot springs, or volcanoes, there’s sure to be a tour package to suit your interests. There are several types of tours available in Iceland, from private guided tours to group excursions. If you’re looking for a luxurious experience, you can opt for a private customised tour. Group tours are great if you’re on a budget.

4) Hike

One of the best ways to explore Iceland is by hiking. With its diverse terrain, there are plenty of options for all skill levels. Some of the most popular trails include the Skógafoss and Hvannadalshnúkur. Both trails offer stunning views of Iceland’s majestic landscapes and picturesque waterfalls. If you’re feeling adventurous, you could even consider tackling the Laugavegur Trail, a four-day trek that takes hikers through a variety of terrains, including glaciers and hot springs.

5) Bike

Exploring Iceland on two wheels is a great way to experience the breathtaking views and unique terrain of this gorgeous country. If you’re looking for an easy ride, take a leisurely cruise around the capital, Reykjavik. You can take a bike tour that takes you past many landmarks and sights, like Hallgrimskirkja and Tjornin Pond. For something a bit more adventurous, you can look into joining one of the many guided bike tours across the countryside.

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Bharat Jodo Yatra: Kashmiri Pandits meet Rahul Gandhi, accuse BJP of using them

A delegation of Kashmiri Pandits met Rahul Gandhi on Monday during his Bharat Jodo Yatra in Jammu and Kashmir’s Samba district.

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Bharat Jodo Yatra

A delegation of Kashmiri Pandits met Rahul Gandhi on Monday during his Bharat Jodo Yatra in Jammu and Kashmir’s Samba district.

The delegation briefed the Congress leader on several issues faced the Kashmiri Pandit community including “targeted killings” by terrorists and the resultant protest by those employed under the prime minister’s package.

Members of the delegation also accused the BJP government of “using” the community to further its political goals and spread hate and division among Muslims and Hindus, especially in Kashmir.

A Kashmiri Pandit migrant, Jitendra Kachroo, who came all the way from Uttar Pradesh, where he’s settled after migrating from Kashmir, showered high praise on Gandhi, who he called a “very nice human being and a very simple person.”

Kachroo said that it was heartwarming to meet Gandhi as he patiently listened to their issues.

Kachroo accused the BJP regime of “using” the Kashmiri Pandit community to further the saffron party’s political agenda and alleged that the Narendra Modi-led government never actually meant to resolve their issues but only use them spread hate and division along communal lines.

He said that Muslims and Hindus used to live in peace in Kashmir as both communities share the same culture, dress and even surnames, but divisive forces in both camps tore the Kashmiris apart.

Read Also: Pakistani teen enters India illegally, married UP man; arrested for forging identity in Bengaluru

The delegation has also invited Rahul Gandhi to their Jagti township along the Jammu-Srinagar National Highway. Members of the delegation said that he is likely to visit the community on his way to Kashmir.

Social activist Amit Koul, who was part of the delegation, said they briefed Gandhi on the issues faced by the community such as employees who were given jobs under the prime minister’s package employees by the previous Manmohan Singh-led UPA government.

Koul said the employees are on protest over the past six months in Jammu demanding relocation out of Kashmir valley due to fear of targeted killings and their salaries have been withheld.

Around 4,000 Kashmiri migrants Pandits were provided jobs under the prime minister’s employment package in various state departments in 2008.

The package includes two major components- 6,000 jobs for the youth from the community and building as many accommodation units for the recruited employees.

However, many of the employees fled to Jammu after one of their colleagues, Rahul Bhat, was shot dead by terrorists inside his office in Budgam district on May 12. The incident was described as a case of targeted killing.

He said that the delegation raised several other issues faced by the community including the enhancing the relief, and also invited Gandhi to Jagti township.

The Congress leader has assured them that he will visit the township on his way to Kashmir valley and raise the issues of the community in and outside the Parliament.

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The on-going Journey of Renatus Wellness

Renatus Wellness, backed by their Brand Ambassador, Mr. Sourav Ganguly, aims to change millions of lives.

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Renatus Wellness

Renatus Wellness is a transformational wellness and health company which aims to revolutionize the Indian health market with its holistic and ayurvedic based products. The company, started by Dr. Subrata Dutta in 2018, has not even once looked back since its launch of its first product, Renatus Nova, a nutraceutical ayurvedic drink. Since then, Renatus Wellness has launched a wide array of all natural products- soaps, toothpaste, body cleanser, hair cleanser, and handwash.

Renatus Wellness was started with the aim to bring back the old ayurvedic and holistic practices in the products to give an all-natural approach to them. It includes products needed from day to day, cosmetics, health supplements and many more. The reception of these products has been enormously successful in the Indian market. The company has a thriving customer base and has garnered over 5 lakhs in just 3 years. The company has the distribution of its products over almost entire India. The company has been awarded with the Wellness Start-up of the Year, 2022 at the Bharat Start-up Awards and Fastest Growing Quality Health and Wellness Products Direct Selling Company at the India ICON Awards, 2023.

Renatus Wellness holds quite a number of product launch programs in the past. The company held its last event for the launch its protein powder in Eden Gardens, Kolkata on 2022 under the presence of its brand ambassador, Mr. Sourav Ganguly with a gathering of almost 1500 people. Now, the company organised “DADA Wants To Meet You”, an exclusive Meet & Greet session with Mr. Sourav Ganguly on 18th January, 2023 in Nazrul Mancha, Kolkata. The company announced to launch a few products under the same event.

Dr. Subrata Dutta is a motivational speaker and founder of Renatus wellness Pvt. Ltd. He is a transformational guru and entrepreneur who has over 15 years of experience in network marketing business; besides being the author of the book, A Map to the Pinnacle of Success. He has been appointed as an Executive Member of FDSA – the “Federation of Direct Selling Association” of India and also has received quite a number of awards. He was awarded with “Doctor of Business (Specialization in Wellness & Direct Sales)” in November 2022 by Global Human Peace University. He has also been nominated as recipient of “Doctor of Business (Specialization in Business, Mind Motivational Training & Development) by World Human Rights Protection Commission. He is also recognised as the Achievers of the Year 2022 by Business Outreach Magazine.

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