Currency spread betting markets may also be available through other companies. Notes.
2)Where can I find Live Spread Betting Prices for the Dollar - Mexican Peso Market?
For forex spread bets please see the above tables. Where a company offers the relevant market they will also provide clients with live prices on that market.
3) Where can I find Live Charts / Candlestick Charts for the Dollar - Mexican Peso Market?
Spread betting companies often offer a variety of free data to their clients (accounts are subject to status, terms and conditions).
The most popular forex data, apart from live prices, tends to be the candlestick charts. The time period of the charts can usually be varied. You can often alter the candlestick charts to show market movements in the order of 1 minute, 2 minutes, 5 minutes, 10minutes, 1 hour, 1 day or 1 week periods.
With a number of the charts you can also update the settings to help your technical analysis. For example you can add Bollinger Bands and 20, 50 and 100 point Moving Averages and forex candlestick charts are currently available with:
Trading Charts?
Spread betting charts may also be available from other companies. Notes.
Sample Currencies Chart from Financial Spreads:
4) How do you Spread Bet on the Dollar - Mexican Peso Market to Go Up?
Dollar/Mexican Peso Financial Spread Betting Example
Should you decide to spread trade on a foreign exchange pair like the Dollar/Mexican Peso then, looking at a spread trading site like Financial Spreads, at the time of writing you would see a spread trading price of $12.9770 - $12.9970.
Therefore, you can spread trade on the Dollar/Mexican Peso to go above $12.9970 or below $12.9770.
With spread betting, investors trade on every unit the market rises or falls; in the case of the Dollar/Mexican Peso market a unit is $0.0001 of the forex pair's price movement.
For example, you might choose to spread bet £2 for every $0.0001 the Dollar/Mexican Peso rises or falls.
Buying - Spread Betting on the Market to Rise
If you bought the Dollar/Mexican Peso at $12.9970 and the forex pair went up then you might see the spread move to $13.0022 - $13.0222. Therefore, you might decide to close your spread bet for a profit at $13.0022.
Profit or Loss = (settlement price of the market - opening price of the market) x stake per $0.0001
Profit or Loss = ($13.0022 - $12.9970) x £2 per $0.0001 stake
Profit or Loss = $0.0052 x £2 per $0.0001
Profit or Loss = £104 profit
Markets can also fall, if the market had decreased to, as an example, $12.9925 - $13.0125, you might want to close your trade to limit your losses. If that happened, you would sell back at $12.9925.
You would close your bet with the same £2 per $0.0001 stake:
Profit or Loss = (settlement price of the market - opening price of the market) x stake per $0.0001
Profit or Loss = ($12.9925 - $12.9970) x £2 per $0.0001 stake
Profit or Loss = -$0.0045 x £2 per $0.0001
Profit or Loss = -£90 loss
5) How do you Spread Bet on the Dollar - Mexican Peso Market to Go Down?
A benefit of placing a spread bet is that you can sell the markets.
To start with, the spread was $12.9770 - $12.9970.
If you were to go short of the Dollar/Mexican Peso at $12.9770 and the forex pair decreased then the spread could become $12.9515 - $12.9715. In that case, you could close your bet for a profit, if so you would buy at $12.9715.
Profit or Loss = (opening price of the market - settlement price of the market) x stake per $0.0001
Profit or Loss = ($12.9770 - $12.9715) x £2 per $0.0001 stake
Profit or Loss = $0.0055 x £2 per $0.0001
Profit or Loss = £110 profit
The markets can of course rise, if the market had moved up to, as an example, $12.9618 - $12.9818, you might want to close your bet to restrict your losses. Assuming this was the case, you would buy your spread bet at $12.9818.
You would do this with the same £2 per $0.0001 stake:
Profit or Loss = (opening price of the market - settlement price of the market) x stake per $0.0001
Profit or Loss = ($12.9770 - $12.9818) x £2 per $0.0001 stake
Profit or Loss = -$0.0048 x £2 per $0.0001
Profit or Loss = -£96 loss
Dollar/Mexican Peso Rolling Daily prices quoted as of 09-Dec-09. Market also available with Capital Spreads and GFT.
6) Where can I find more on Spread Betting on Currencies?
For more details on trading the currency markets see Currency Spreads.
Note - Spread Betting carries a high level of risk to your capital and you can lose more than your initial investment, it may not be suitable for all investors. Ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved and seek independent financial advice where necessary.
'Dollar - Mexican Peso Spreads', Guide by D. Jones, last update: 22-Jul-10
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