Forex ABC.
Every newbie to Forex asks the same question: Where do I start? This section of the website is dedicated to answering this question, covering the entire trading process from A to Z, from preparation and the basics of using the trading terminal to the most important points.
Is it worth becoming a trader?.
Before trying your hand at forex trading, it's a good idea to understand: Is becoming
a trader worth it? How attractive is this profession, and wouldn't it be better to invest your energy in something simpler?
Dealing centers often only highlight the positive aspects of forex trading, obscuring the true essence of the matter.
Therefore, it's a good idea to understand the challenges you'll face if you choose to become a trader, and what will serve as additional incentives.
Now, let's take things in order.
Trading as a favorite job
Many people view their work solely as a source of income and eagerly await the end of the workday.
However, a survey of several thousand respondents aged 70 and 80 revealed that the biggest regret of those in their 70s and 80s is that they spent their entire lives doing something they didn't love.
It's the work they love that brings them joy and allows them to achieve maximum success.
Therefore, it's almost immediately clear whether a person will achieve success in their chosen field or remain at the bottom of the career ladder.
This rule also applies to trading; most people try to make money on Forex simply because it offers the potential for significant gains.
Forex trading instructions for beginners.
The Forex market is a great place to successfully realize your potential and opportunities. Although
currency trading itself isn't all that simple, most beginners encounter problems primarily during their initial introduction to this field.
Yes, the first steps toward a new life are the most difficult. Once you've taken them, your continued success will depend entirely on you, your persistence, hard work, and ability to learn.
By the way, our website has everything you need to successfully launch your trading career, and you can trade both independently and with the help of specialized programs. So, let's begin our step-by-step instructions.
How to quickly open a demo account on Forex or the stock market
Many novice traders want to test their skills in stock trading without wasting time on various formalities.
And this is quite possible, you just need to open a new demo account using the MetaTrader trading platform, the link to which you will find below.
This means that to open a demo account, you don't need to register with a brokerage company or upload personal documents. Simply download the program and complete a few simple steps.
Moreover, the opened account can be called universal, since with its help you can trade not only currencies, but also other popular assets such as securities, precious metals, commodities, and cryptocurrencies.
An indicator for a beginner trader
Despite the availability of modern internet trading, stock trading remains a rather complex undertaking.
And most newbies who try to open their first trades using only their assumptions and intuition quickly become convinced of this.
After unsuccessful attempts, you realize that to make a profit, you need to learn to predict the trend, and guessing is impossible. Indicators from a trader's trading platform are a great help in this regard.
It's true that it's quite difficult for a beginner to understand the wide variety of graphical constructions these indicators add to the chart, and even more difficult to make the right decision when opening a new trade.
Profit on Forex, or what its size depends on.
The first question that comes up immediately after learning about the Forex market is: How much can you earn?
But that's like asking how much you earn as a business owner.
You can own a factory and earn millions in profits, or you can have a market stall and barely make ends meet.
Forex is a business, so the profit margin is also highly individual, depending on factors such as the capital and the trading strategy used.
Of course, there are some standard parameters by which to calculate earnings; the percentage ratio of deposit to profit is usually used.
What is online stock trading?.
Comparing modern trading to how it was conducted thirty years ago, the
only thing that remains the same is the essence of executing trades.
The technical side of things has changed beyond recognition – trading has become remote, 24/7, electronic terminals have emerged, and many other innovations have emerged.
As for the practical side of things, there have also been significant changes – the sums required to execute trades have decreased, and leverage has increased significantly.
Now let's talk more specifically about what online trading is.
Forex trading example.
There are numerous books that teach forex trading, but most of them are purely theoretical, covering only the basics
of technical or fundamental analysis.
Understanding how trades are executed can only be achieved through a specific, practical example. Of course, you can't expect to become a professional trader after this, but you'll at least have a general understanding of forex trading.
The Forex trading example includes not only the general principles of selling (buying) currency but also a description of the technical aspects of this process.
Now let's move on to the trading example itself.
Instructions for registering with a broker, using a specific example
Our website has already outlined the general process of registering a client with a brokerage company.
However, at the request of our visitors, we've decided to cover this topic again, using a specific broker as an example.
This means creating simple instructions that will help you complete all the steps in just a couple of minutes and avoid mistakes.
We'll use the well-known Alpari as our example broker to illustrate this process.
This company has been providing services to traders for over 20 years and is one of the largest brokers in the world, so we chose it for clarity.
Account opening steps:
Basic rules of forex trading.
This article will discuss the general rules every trader should know and must adhere to.
Forex trading rules govern the trading process and are established by dealing centers.
You'll encounter most of them when signing a contract with a dealing center, while others will arise in practice. Therefore, to reduce the number of unpleasant surprises, try to remember all the points below.
First steps or preparation for Forex trading.
Half the success of any endeavor depends on proper preparation and organization. Preliminary steps make the work more comfortable and, therefore, more
efficient.
Trading is no exception. Before starting, it's important to take several preparatory steps and organize your workspace.
First, you need to determine whether your computer meets the required specifications, choose a location and time for work, and determine your payment method.
Best Forex DC
There are plenty of tips and recommendations on how to choose the best Forex brokerage, but novice traders still make mistakes, either by buying into big
bonuses or by trusting flashy advertising.
The best Forex DC is a company you can trust with your money, and it must fully meet the requirements.
Unfortunately, it's difficult to get all the necessary information from trading conditions or demo trading alone, so below I'll simply provide examples of several brokerage companies I personally trust.
Opening a Forex account.
It would seem simple: register with a pre-selected brokerage company and open a suitable account type.
But even here, beginning traders face a host of questions, and without clarifying them, they can make mistakes.
Opening a Forex account requires several steps, and it's important to follow them in order. Sometimes, it can be quite difficult to change something in an already configured trading terminal.
Download and install the trading terminal.
Currently, there is virtually no debate among traders about which terminal is better; virtually everyone prefers MetaTrader 4.
The only alternative may be specialized terminals for automated trading or binary options.
But if you're just starting out, don't reinvent the wheel; simply download the MetaTrader 4 terminal from your broker's website.
Why your broker's website?
What can a trader's terminal do?.
The trader's terminal is the best thing ever invented to make the work of exchange traders easier. It is currently
a fully-fledged software package that facilitates transactions and technical analysis.
The first trading terminals appeared over thirty years ago. They were simple devices equipped with just a couple of buttons, but even this improvement significantly impacted trading efficiency.
The trading platform can now do a lot of things: display currency pair quotes on charts, open trades, conduct technical analysis, and create scripts.
Now a short overview of the terminal's capabilities.
Basic settings of MetaTrader 4, customizable.
Like any program, the trader's terminal requires additional configuration after installation. You can leave everything as is, but it's advisable to make the work more
comfortable and, therefore, more productive.
The main settings that should be changed in MetaTrader 4 are the chart display, navigator, and quotes window.
Let's start changing the settings with the currency pair chart:
• One instead of 4 - close unnecessary windows, leaving only the chart of the desired currency pair. If there is none, open its chart by simply dragging the currency pair with the mouse from the quotes window. If necessary, you can restore the simultaneous display of multiple windows.
Basic trading strategies and their advantages and disadvantages that you should know about
Before starting trading on the exchange, a trader must go through several preparatory stages.
The main ones are choosing a broker, studying the trading platform and choosing a trading strategy.
The process of choosing a trading strategy raises the most questions, as it can be quite challenging for a beginner to choose the right option from hundreds presented on various websites.
To make the choice a little easier, you should first select not the strategy itself, but at least the category to which it belongs.
We add new scripts (indicators, experts, snails) to the MetaTrader trading platform
Currently, the most popular and widespread program for stock trading is the MetaTrader trading platform.
One of the main advantages of the MetaTrader trading platform is that you can easily add new scripts to it.
That is, if you need to expand functionality or want to engage in automated trading, but the required program is not available in the trading platform, you can add a third-party script.
There are several options on how to do this as quickly and easily as possible.
Binary options terminal
binary options trading is unmissable . Most beginners achieve better results here
than in traditional exchange trading.
Binary options trading is a relatively simple form of trading, but despite this, it still requires the use of a specialized terminal.
A binary options terminal significantly expands trading capabilities, offering a variety of trading options.
Binary options brokers offer a variety of platforms, which we'll review now.
The most attractive forex trading instruments.
Choosing a Forex trading instrument is no less important than all other strategy parameters. Sometimes, choosing the right asset can be the secret to successful trading.
Don't limit yourself to standard instruments; you can also try something more exotic. Who knows, maybe binary options or futures trading will appeal to you.
Initially, try all available options, and then, once you've settled on the most suitable one, hone your skills. Here
's an overview of what you can trade in the trader's terminal.
How to open a Forex trade.
In the previous lessons in the " Forex Basics " section, we covered almost all the preparatory aspects of trading. Now it's time to get started.
Opening a Forex trade is quite simple, especially if you already have a trading terminal installed and a demo account registered.
It's best to study technical aspects on a demo account; it works just like a real one, but you're completely protected from mistakes.
Page 1 of 3
- To the beginning
- Back
- 1
- 2
- 3
- Forward
- To the end
