An effortless way to trade forex online

200 views

Published on

Foreign exchange trading on the currency market can be a thrilling experience and a source of immense income from the investment made. To summarize, the securities market has a trading volume around $22 billion on a day; whereas the forex market trades around $5 trillion on a daily basis. One can make a lot of cash without making too much of the original investment, and forecasting the course of the market can be an actual rush. One can start forex trading online in numerous ways.

Published in: Economy & Finance, Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
200
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
3
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

An effortless way to trade forex online

  1. 1. An effortless way to trade forex online
  2. 2. Foreign exchange trading on the currency market can be a thrilling experience and a source of immense income from the investment made. To summarize, the securities market has a trading volume around $22 billion on a day; whereas the forex market trades around $5 trillion on a daily basis.
  3. 3. One can make a lot of cash without making too much of the original investment, and forecasting the course of the market can be an actual rush. One can start forex trading online in numerous ways.
  4. 4. • Traders who are interested in investing in the forex market and start forex trading online for the first time basically start from scratch. • But that does not signify that new traders are left in the dark when they are learning to trade in foreign exchange market.
  5. 5. • You can become forex-savvy when you start forex trading online with the help of virtual practice accounts, market analysis and forex reviews. • With so much to select from, the query you have is, "How to begin trading?" • Just take a look at the introductory steps you must take to find your footing in currency trading.
  6. 6. • When you start forex trading online, you have to understand the terminology. • Concepts of base currency, quote currency, exchange rate, spreads, bid price, ask price, long position and shot position. • Then, you have to decide upon the currencies that are to be bought and sold.
  7. 7. • A country's economic growth, trading position and political situation are the factors to be considered while you start forex trading online. • The concept of pip has to be understood. It is the change in value between two given currencies.
  8. 8. • Typically, 1 pip is equal to 0.0001 of a change in value. • For instance, if the EUR/JPY trade moves from 1.646 to 1.647, the currency value has risen by 10 pip. • One has to multiply the number of pips with per pip value to find the profit or loss in trade.
  9. 9. • Next, you have to open an online brokerage account when you start forex trading online. • An experienced broker who has been in the realm of trading for at least 15 years and who is being supervised by a reputed regulatory body should be selected.
  10. 10. • Reviews, tradable assets and the commissions are the factors that should be taken into account. • As you are about to start forex trading online, you can opt for a personal account and execute trades on your own or you can open a managed account where your broker shall execute trades on your behalf.
  11. 11. • When you start forex trading online, you need to make a detailed analysis of the market, technically or fundamentally. • You need to determine the margin and allocate the margin deposit. • Then the different kinds of orders are placed which are, market orders, limit orders and stop orders. • Then using a profit and loss calculator, you can always estimate the profits or losses in a particular trade. For more information visit: www.forexminute.com

×