Currency trading can be very profitable if you know the basics and how to manage risks. The trading is done with a pair of currencies. One currency is traded for another and the trader makes a profit when the price of the quote currency increases. For example, if you are trading in EUR/USD and are buying the base currency at 1.3000 and selling the quote currency at 1.3010, your profit is $0.0010 or 10 pips. A pip is the measure of profit or movement on an exchange.
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To buy and sell currencies, you also have to understand “Spread”. A spread consists of the bid and ask price. The bid price is that at which the broker buys base currency and the trader sells. The ask price is that at which the broker sells base currency and you buy. So, while trading in EUR/USD, if the trade is at 1.4000/1.4003, then the spread is 3 pips. The broker has earned a profit of 0.0003. This is irrespective of what you have earned or lost.