So if i want to buy jpy/aud or anything that does not have us dollars in it how would it work. Would i convert my us dollars into japanese yen when i buy it. Then when i sell it i convert the jpy into aud then i once again convert it into usd. I am really confused can someone help me. When i pay the broker their cut for being the middle man do they take percentage in usd or jpy or british pounds or what.

Answer
It depends which currency your brokerage account is ,

I'm in New Zealand and have a forex account in Australia, so it's balance is displayed in AUD.

When I do a trade on the USD/EUR pair, I'm just playing with the EUR/USD rate - all of the calculations are done in AUD.

I think forex peace army and babypips have the best free training.

You need to read up on money/risk management before you start and having a position size calculator will help when you first start out

Good luck

How to pyramid on forex?

Hi all!
I wonder,how and when to pyramid as soon as I see that trade is profitable.
Is there any kind of indicator,calculator,tutorial,etc which can help me?
Thanks

Answer
What do you mean by Pyramid? You mean adding on to a position or you mean compounding your account to increase it's size.

For adding on, I don't recommend it unless you are confident with the strength of the trend to drop a little more risk in. It's a good idea to lock in profits of your already profitable position with a +ve stop loss as well.

I don't recommend compounding either, at least until you have withdrawn your profits up till the stage where you have taken your initial capital back so all you are left with is pure profits as risk capital. For instance, you deposited $10k, don't compound until you withdraw at least $10k again. My personal habit is to withdraw some or all of the week's profits on Fridays. After all, aren't we trading to make a profit and reap the benefits of those profits by restocking our bank accounts?