Puthankote Vadakeveetil Aboobacker

P V Aboobacker is the CEO of Pride Group Ltd that is headquartered and based in Dubai. As the executive head of Pride Group, Aboobacker constantly strives for the best outcome for his clients and all the stakeholders of Pride Group. Under Mr. Puthankote Vadakeveetil Aboobacker’s guidance Pride Group ventured into Financial Services interests concentrated principally in the areas of private commodity exchanges, commodity and foreign exchange brokerage, broker-dealer operations, currency exchanges, start-up funding and angel investments.

Mr. P V Aboobacker has had a lengthy stint managing many financial consultancies and other advisory firms. This puts him in a unique position to offer insightful tips on the internal workings of the trading world. The currency market, or forex (FX), is the largest investment market in the world, and continues to grow annually. On April 2010, the forex market reached $4 trillion in daily average turnover, an increase of 20% since 2007. In comparison, there is only $25 billion of daily volume on the New York Stock Exchange (NYSE).

According to Mr. P V Aboobacker, the market may be large and until recently the volume came from professional traders, but as currency trading platforms have improved more retail traders have found forex to be suitable for their investment goals. Currency trading is a 24-hour market that is only closed from Friday evening to Sunday evening, but the 24-hour trading sessions are misleading. There are three sessions that include the European, Asian and United States trading sessions.

Although there is some overlap in the sessions, the main currencies in each market are traded mostly during those market hours. This means that certain currency pairs will have more volume during certain sessions. Traders who stay with pairs based on the dollar will find the most volume in the U.S. trading session.

Mr. Puthankote Vadakeveetil Aboobacker states that currency is generally traded in various sized lots. The micro lot is 1,000 units of a currency. If your account is funded in U.S. dollars, a micro lot represents $1,000 of your base currency, the dollar. A mini lot is 10,000 units of your base currency and a standard lot is 100,000 units.

Richard Kapsch Chicago was an eminent trader right from his early days as a trader on the Chicago Mercantile Exchange’s (CME) trading floor.