Forex is online trading platform based on the internet,were customers(banks, companies, individuals, investment firms ,retail Forex traders) access the markets and making trades from their own computers.
The Forex market is open 24 hours a day, 5 days a week .Most important world trading centers being located in London, Tokyo, New York, Zurich, Hong Kong, Singapore, Frankfurt,Paris, and Sydney.
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
Forex trade
1. Forex trade
Forex is online trading platform based on the internet,were customers(banks, companies,
individuals, investment firms ,retail Forex traders) access the markets and making trades from
their own computers.
The Forex market is open 24 hours a day, 5 days a week .Most important world trading centers
being located in London, Tokyo, New York, Zurich, Hong Kong, Singapore, Frankfurt,Paris, and
Sydney.
Trading platforms its based on programs which downloaded and allow entrance to the platform
and global network.
Retail traders (like you and I) is the speculation on the price of one currency against another.
Being a Forex trader offers the most potential lifestyle. It’s not easy to get there, you can make it
happen.
You can fund your trading account with as little as $250 and begin trading the same day in some
cases. Platforms allows you to trade at the click of a mouse.
You can trade anywhere in the world with a laptop and internet connection.
While the forex market is a great market to trade, I would note to beginners that trading carries
both the potential for reward and risk. This is the fastest way to lose all of your trading account
money.
2. To get started in the Forex and make money, you need to select a suitable broker. Forex brokers
generate their income from the difference in the sale and purchase price. This difference is
referred to as the spread- calculated in pips. In the first step, you just watch the trading on Forex
market.
After completion of the course or a pair of read books, all you seem quite clear.
Price ranges or up or down, of any kind whatsoever that may be a secret at all?
But as when you first moved in behind the wheel, just does not look quite so simple.
Moving. Lots of open positions on a lot of currency pairs and you're full of confidence.
Price turned against you? No matter, you close the position and open the opposite.
You begin to suspect that something is wrong with your way of trading.
Quotes sorts of articles about Forex on the Internet ,and buying books. You know that is a lot of
work.
Then, looking for technical indicators and collect any trading strategy.
You begin to realize that a trading strategy or an indicator is not the main thing you need.
Now you move only work on a single currency pair and a single strategy.
Always use StopLoss and TakeProfit always know exactly how much you risk.
Open positions only when your trading system is about high probability of making a profit,
and if the open position show losing do not panic because you know that you are not
wrong.There you are satisfied with the fact that your system shows the possibility that earn more
money than it loses.
Now open a position when your system tells you to do it.
One week you lose 100 pips, the second earn 100 pips. Balancing.
Slowly but steadily, earning more and more pips.
Now trading all day long, on a subconscious level - just like on autopilot.
You deal with large batches, and you earn 100 pips every day. And this is normal.
Fully rule over your emotions and you are a trader with an account that is rapidly growing.