USD/INR Trading: Learn how to trade

 - Sakshi Post

Introduction

It is known to all that the export and import businesses are very closely linked to currency values. If your trade is completely focused on the Indian market, you must be curious about the trend of the currency pair and also about the specificities. The forex market is termed to be international at the same time it is decentralized, with a lot of  trading platforms which are running all over the internet. It allows you to trade not only in USD but also in many major currency pairs such as, EUR/USD, JPY/USD, CHF/USD. If we have a look on USD/INR trade, then we can very well understand thàt it is very popular but more is somewhat more unnaturalized as compared to USD/EUR. In case you are Indian trader then you would always love to consider pairs such as GBP/INR, EUR/INR, USD/INR, JPY INR. Suppose you have been given the volume of exports and imports between the USA and the Indian market, then this pair’s value is much considered. As a Forex trader, you can always take a big advantage of its value fluctuations.

The basics of Forex pairs trading

As it is known that Forex trade is always done in pairs and not in solo form. Now lets talk about our Indian Trade, in this case the first currency in pairs is the USD, which is the basis and INR is the quote currency.  In case you are an Indian trader and you are trading in USD/INR, then in that case you can expect the value of the pair to go up.

 Now, since two currencies are involved together, so any major events be it economic or political or any other, on the US or Indian market would cause a severe price movement.

 Well there is another term called "pip", this term is also very often linked to currency trading. But do you know the meaning of this term? It is nothing but a fundamental unit in foreign exchange trading. It is also known as the tick-size. 

Conclusion

The popular strategy that is used by the traders is the price action strategy. There is also another strategy which is called counter-trend trading. In this case the traders move in opposite direction to that of the trend. Position trading can also be another option for the traders. In this case, the traders need to have an in-depth knowledge as well as expertise and have to use chart analysis. A new trader may think that it is slightly excruciating at the first but as discussed before, when you are into trading you need to have some basic knowledge about the forex market and have to also understand the market conditions. They should also keep in mind and have the idea about how world events can have an impact on the foreign currency prices. Hope this article has been much useful to people who are having a mindset to trade or for those who are newly into this trading business. 

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