Swap is a forex trading term and it means a real-time purchase and sale of the same amount of a selected currency for two different dates for the sale and purchase of another selected currency.

Fibonacci numbers! Doesn't that sound a lot like an enormous chapter in high school mathematics' book? If that's what you think then you are absolutely right. We are indeed talking about those kinds of numbers. Fibonacci numbers are a sequence of numbers formed as follows:

0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55… etc

Bretton Woods Agreement

FOREX exists for centuries starting when traders first decided to exchange coins from different countries. However, the foreign exchange market the way we know it today is the newest of the financial markets. The origin of forex trading traces its history to centuries ago. Different currencies and the need to exchange them had existed since the Babylonians. They are credited with the first use of paper notes and receipts. Speculation hardly ever happened, and certainly the enormous speculative activity in the market today would have been frowned upon.

What can you order in FOREX market?! Actually the word order refers to the way to enter ot exit a particular trade. There is a large diversity of types of orders and here we will cover most of them.

# Pip and Pip Value

Pip is short for Price Interest Point, also called points. The most common increment of currencies is the pip. If the exchange rate goes from 1.2576 to 1.2577, that is ONE pip. In mathematical terms, a pip means the last decimal place of a quotation. In a down-to-earth way, the pip is how you calculate your profit or loss. Example: For USD/JPY exchange rate at 120.75 a pip would be 0.01 (the second decimal place).For EUR/USD exchange rate at 1.2385, a pip would be 0.0001 (the fourth decimal place). Each currency has it own value and the pip value is different from one another. It is important to know how to calculate the pip values.