学前班篇：2.如何交易外汇（babypips翻译）

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2.1如何通过外汇赚钱
What is forex trading?
什么是外汇交易？

How does forex trading work?
如何进行外汇交易？
In the forex market, you buy or sell currencies.
在外汇市场中，你买入卖出货币。
Placing a trade in the foreign exchange market is simple. The mechanics of a trade are very similar to those found in other financial markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.
进行外汇交易十分简单。交易的方式与其他金融市场（如股票市场）相像，所以如果你有任何交易经验，你就应该能很快的捡起来。
And if you don’t, you’ll still be able to pick it up….as long as you finish School of Pipsology, our forex trading course!
即使你没有，你仍能捡起它……只要你学完外汇学院我们的外汇交易课程。

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The objective of forex trading is to exchange one currency for another in the expectation that the price will change.
外汇交易的目标是在预期价格变化的情况下把一种货币换成另一种货币。
More specifically, that the currency you bought will increase in value compared to the one you sold.
更准确的说，你买入的货币的价格与你卖出的货币相比会上涨。
Example:

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An exchange rate is simply the ratio of one currency valued against another currency.
货币间汇率就是两货币间交换比例。
For example, the USD/CHF exchange rate indicates how many U.S. dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one U.S. dollar.
举个栗子，USD/CHF汇率显示了多少美元能买一瑞士法郎，或者是买一美元要多少瑞士法郎。

How to Read a Forex Quote
如何看懂外汇报价
Currencies are always quoted in pairs, such as GBP/USD or USD/JPY. The reason they are quoted in pairs is that, in every foreign exchange transaction, you are simultaneously buying one currency and selling another.
货币常常以货币对的形式报价，如GBP/USD或USD/JPY。这么做的原因是每一笔外汇交易，买入一种货币和卖出另一种货币同时进行。
Here is an example of a foreign exchange rate for the British pound versus the U.S. dollar:
这个有个英镑与美元间汇率的例子：

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The first listed currency to the left of the slash (“/”) is known as the base currency (in this example, the British pound), while the second one on the right is called the counter or quote currency (in this example, the U.S. dollar).
斜线左面最先被列出的货币被称为基础货币（在这个例子中是英镑），同时右面第二个被列出的货币被称为计价货币。（在这个例子中是美元）
When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy ONE unit of the base currency.
当买入时，兑换比例会告诉你，要买一单位的基础货币你需要付出多少单位的计价货币。
In the example above, you have to pay 1.51258 U.S. dollars to buy 1 British pound.
在上面的例子中，买1英镑要花1.51258美元。
When selling, the exchange rate tells you how many units of the quote currency you get for selling ONE unit of the base currency.
当卖出时，兑换比例会告诉你，卖出一个单位的基础货币会得到多少单位的计价货币。
In the example above, you will receive 1.51258 U.S. dollars when you sell 1 British pound.
在上述例子中，你卖出1英镑会得到1.51258美元。
The base currency is the “basis” for the buy or the sell.
基础货币是买和卖的基础。
If you buy EUR/USD this simply means that you are buying the base currency and simultaneously selling the quote currency.
如果你买入EUR/USD,这仅仅意味着你买入基础货币的同时卖出了计价货币。
In caveman talk, “buy EUR, sell USD.”
用原始人的话来说，“买入欧元，卖出美元”
You would buy the pair if you believe the base currency will appreciate (gain value) relative to the quote currency.
如果你相信基础货币相对于计价货币会上涨，你就会买入这个货币对。
You would sell the pair if you think the base currency will depreciate (lose value) relative to the quote currency.
反之，你会卖出。

“Long” and “Short”
多、空

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First, you should determine whether you want to buy or sell.
首先你应该确定是买还是卖。
If you want to buy (which actually means buy the base currency and sell the quote currency), you want the base currency to rise in value and then you would sell it back at a higher price.
如果你想买（这实际上意味着买入基础货币卖出计价货币），你希望基础货币升值，然后在更高的价格卖出。
In trader talk, this is called “going long” or taking a “long position.” Just remember: long = buy.
在交易员的语言中，这被称为“做多”。记住就好了，long=买。
If you want to sell (which actually means sell the base currency and buy the quote currency), you want the base currency to fall in value and then you would buy it back at a lower price.
如果要卖出（实际上意味着卖出基础货币并购买计价货币），则希望基础货币贬值，然后以较低的价格买回。
This is called “going short” or taking a “short position”.
这被称为做空
Just remember: short = sell.
记住，short=空
I’m long AND short.”

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The Bid, Ask and Spread
买入价、卖出价和价差
All forex quotes are quoted with two prices: the bid and ask.
所有的外汇报价都会报两个价格：买入价和卖出价。
In general, the bid is lower than the ask price.
通常来说，买入价低于卖出价。

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What is “Bid”?
什么是“买入价”？
The bid is the price at which your broker is willing to buy the base currency in exchange for the quote currency.
出价是你的经纪人想买入基础货币来换取计价货币的价格。
This means the bid is the best available price at which you (the trader) can sell to the market.
这意味着买入价是你向市场卖出货币最能被接受的价格。
If you want to sell something, the broker will buy it from you at the bid price.
你过你想卖出一些东西，交易商将以买入价从你手中买入。
What is “Ask”?
什么是卖出价？
The ask is the price at which your broker will sell the base currency in exchange for the quote currency.
卖出价是你的交易商将卖出基础货币来换取计价货币的价格。
This means the ask price is the best available price at which you will buy from the market.
这意味着这个卖出价是你能从市场中买到的最易得的价格。
Another word for ask is the offer price.
卖出价不仅被称为ask也被称为offer price。
If you want to buy something, the broker will sell (or offer) it to you at the ask price.
如果你想买，交易商将以这个卖出价卖给你。
What is “Spread”?
价差（点差）
The difference between the bid and the ask price is known as the SPREAD.
买入价和卖出价的不同被称点差。
On the EUR/USD quote above, the bid price is 1.34568 and the ask price is 1.34588. Look at how this broker makes it so easy for you to trade away your money.
在上面的EUR/USD报价中，买入价是1.34568，卖出价是1.34588.看看，交易商卖掉你的钱有多容易。
If you want to sell EUR, you click “Sell” and you will sell euros at 1.34568.
如果你想卖出欧元，你点击卖出，然后你将在1.34568的价格上卖出欧元。
If you want to buy EUR, you click “Buy” and you will buy euros at 1.34588.
如果你想买入EUR，你点击买入，然后你将以1.34588的价格买入。
Here’s an illustration that puts together everything we’ve covered in this lesson:
这里有一个例子，把我们在本节课提到的内容放到了一起。

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2.2.了解何时买入卖出货币对
How do you know when to buy or sell a currency pair?
你是如何知道何时买卖货币对的？
In the following examples, we are going to use fundamental analysis to help us decide whether to buy or sell a specific currency pair.
接下来的例子中，我们将用基础分析帮我们决定何时买卖特定的货币对。
Each currency belongs to a country (or region). So forex fundamental analysis focuses on the overall state of the country’s economy,  such as productivity, employment, manufacturing, international trade, and interest ratezzzzzzzz.
每种货币都归属于一个国家（或地区）。所以外汇基础分析专注于这个国家经济的所有情况，如生产率、就业率、制造业、国际贸易和利率。
Wake up!
醒醒！
If you always fell asleep during your economics class or just flat out skipped economics class, don’t worry!
即使你总是在你的经济学课上睡觉或是对它感到疲惫不堪，也不要担心！
We will cover fundamental analysis in a later lesson.
我们将在之后的课程中涉及基础分析。
But right now, try to pretend you know what’s going on…
但现在，假装你知道发生了什么……
EUR/USD
欧元/美元
In this example, the euro is the base currency and thus the “basis” for the buy/sell.
在这个例子中，欧元是基础货币也因此是买卖的基础。
If you believe that the U.S. economy will continue to weaken, which is bad for the U.S. dollar, you would execute a BUY EUR/USD order.
如果你相信美国经济将续衰落将有害于美元，你会执行买入EUR/USD这个指令。
By doing so, you have bought euros in the expectation that they will rise versus the U.S. dollar.
这样做，你就买了欧元，并期许它会相对于美元升值。
If you believe that the U.S. economy is strong and the euro will weaken against the U.S. dollar, you would execute a SELL  EUR/USD order.
反之，你会执行卖出指令。
By doing so, you have sold euros in the expectation that they will fall versus the US dollar.
这样做，你就卖出了欧元，并期许它会相对于美元贬值。
USD/JPY
美元/日元
In this example, the U.S. dollar is the base currency and thus the “basis” for the buy/sell.
在这个例子中，美元是基础货币也因此是买卖的基础。
If you think that the Japanese government is going to weaken the yen in order to help its export industry, you would execute a BUY  USD/JPY order.
如果你认为日本政府会打压日元来提振工业出口，你会买入USD/JPY。
By doing so you have bought U.S dollars in the expectation that they will rise versus the Japanese yen.
这样做，你就买了美元，并期许它会相对于日元升值。
If you believe that Japanese investors are pulling money out of U.S. financial markets and converting all their U.S. dollars back to yen, and this will hurt the U.S. dollar, you would execute a SELL USD/JPY order.
如果你认为日本投资者会把钱抽离美国金融市场，并把他们的钱换回日元。这将不利于美元，你会卖出USD/JPY。
By doing so you have sold U.S dollars in the expectation that they will depreciate against the Japanese yen.
这样做，你就卖出了美元，并期许它会相对于日元贬值
GBP/USD
英镑/美元
In this example, the pound is the base currency and thus the “basis” for the buy/sell.

If you think the British economy will continue to do better than the U.S. in terms of economic growth, you would execute a BUY  GBP/USD order.
By doing so you have bought pounds in the expectation that they will rise versus the U.S. dollar.

If you believe the British economy is slowing while the American economy remains strong like Chuck Norris, you would execute a SELL GBP/USD order.

By doing so you have sold pounds in the expectation that they will depreciate against the U.S. dollar.

USD/CHF

In this example, the U.S. dollar is the base currency and thus the “basis” for the buy/sell.

If you think the Swiss franc is overvalued, you would execute a BUY USD/CHF order.

By doing so you have bought U.S. dollars in the expectation that they will appreciate versus the Swiss Franc.

If you believe that the U.S. housing market weakness will hurt future economic growth, which will weaken the dollar, you would execute a SELL USD/CHF order.

By doing so you have sold U.S. dollars in the expectation that they will depreciate against the Swiss franc.

上述两个例子和前面的例子一样。
Trading in “Lots”
“手”
When you go to the grocery store and want to buy an egg, you can’t just buy a single egg, they come in dozens or “lots” of 12.
当你去小卖部买个鸡蛋时，你不会只买一个鸡蛋。它们是成堆，一个12个的
In forex, it would be just as foolish to buy or sell 1 euro, so they usually come in “lots” of 1,000 units of currency (micro lot), 10,000 units (mini lot), or 100,000 units (standard lot) depending on your broker and the type of account you have (more on “lots” later).
在外汇市场中，只买一欧元跟傻子似的，所以他们常常买1000单位的货币（微米手），10000单位（迷你手），100000单位（标准手）。这依赖于你的交易商和你有哪种类型的账户。
Margin Trading
保证金交易
“But I don’t have enough money to buy 10,000 euros! Can I still trade?”
“但我没钱买1000.欧元！我还能交易吗？”
You can! With margin trading!
你行的！有保证金交易就行！
Margin trading is simply the term used for trading with borrowed capital.
保证金交易简单来说就是用借来的资本交易的术语。
This is how you’re able to open $1,250 or $50,000 positions with as little as $25 or $1,000.
这就是你如何能用25美元或1000美元开1250美元或5000美元的仓。
You can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital.
你能以少量的初始资本，进行相比较而言庞大的交易。
Let us explain.
让我们来解释下。
Listen carefully because this is very important!
因为这个非常重要，所以要仔细看。

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1.You believe that signals in the market are indicating that the British pound will go up against the U.S. dollar.
你认为市场信号指明英镑相较于美元会上涨。
2.You open one standard lot (100,000 units GBP/USD), buying with the British pound at 2% margin and wait for the exchange rate to climb. When you buy one lot (100,000 units) of GBP/USD at a price of 1.50000, you are buying 100,000 pounds, which is worth US$150,000 (100,000 units of GBP * 1.50000). If the margin requirement was 2%, then US$3,000 would be set aside in your account to open up the trade (US$150,000 * 2%). You now control 100,000 pounds with just US$3,000. We will be discussing margin in more detail later, but hopefully, you’re able to get the basic idea of how it works.
你开仓了一标准手（100000单位的GBP/USD），以百分之二的保证金买入英镑，等着汇率上升。当你在1.50000的位置买入一手GBP/USD时，你买了价值150000美元的100000英镑。如果要求的保证金是2%，那么那么你的帐户将把3000美元用于开仓。你现在用仅仅3000美元就控制了10000英镑。我们将在之后更多的细节中讨论保证金，但是希望，你能理解关于它是如何运行的基本概念。
3.Your predictions come true and you decide to sell. You close the position at 1.50500. You earn about $500.
你的预测成真，然后你决定卖出。你在1.50500的位置平仓，盈利500美元。

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When you decide to close a position, the deposit that you originally made is returned to you and a calculation of your profits or losses is done.
当你平仓时，你最初的保证金会回到你的账户，并会计算出你的盈利或损失。
This profit or loss is then credited to your account.
这次的盈利或亏损会在稍后存入到你的账户。
What’s even better is that, with the development of retail forex trading, there are some brokers who allow traders to have custom lots.
更好的是，随着零售外汇交易的发展，也有交易商提供定制手交易。
This means that you don’t need to trade in micro, mini, or standard lots! If 1,542 is your favorite number and that’s how many units you want to trade, then you can!
这意味着你不需要交易微米手、迷你手或标准手！如果你就是喜欢1542这个数字，你完全可以交易1542个单位。
Rollover
延期
For positions open at your broker’s “cut-off time” (usually 5:00 pm ET), there is a daily rollover interest rate that a trader either pays or earns, depending on your established margin and position in the market.
在交易商截止时间（美东下午5点）开仓是，有一个每日的延期利率。交易者或是获得或事付出利息，这得看你建仓的位置和保证金。
If you do not want to earn or pay interest on your positions, simply make sure they are all closed before 5:00 pm ET, the established end of the market day.
如果你不想获得或付出利息，只要保证你的仓位在美东下午五点前平仓就行。
Since every currency trade involves borrowing one currency to buy another, interest rollover charges are part of forex trading.
因为每个货币的交易都涉及借入货币卖出货币，所以利息延期费用是外汇交易的一部分。
Interest is PAID on the currency that is borrowed.
付出借入货币的利息。
Interest is EARNED on the one that is bought.
获得买入货币的利息。
If you are buying a currency with a higher interest rate than the one you are borrowing, then the net interest rate differential will be positive (i.e. USD/JPY) and you will earn interest as a result.
如果你买了一种比你借入货币利息高的货币，那么利率差价是有利的，最终你会获得利息。
Conversely, if the interest rate differential is negative then you will have to pay.
反之，你会付出利息。
Note that many retail forex brokers do adjust their rollover rates based on different factors (e.g., account leverage, interbank lending rates).
注意很多零售外汇交易商会根据不同的因素调整他们的延期利率。（如账号等级、同业借出利率）
Please check with your broker for more information on rollover rates and crediting/debiting procedures.
请向你的交易商确认延期利率和存款、取款程序等更多的信息。
Here is a table to help you figure out the interest rate differentials of the major currencies.
这里有个表帮你搞清主流货币的利率差价。
Benchmark Interest Rates
基准利率

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Later on, we’ll teach you all about how you can use interest rate differentials to your advantage.
稍后我们会交给你一切你能用到的有利于你的利率差价。