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 perceive their work only as a source of money and look forward to the end of the working day.
But a survey of several thousand respondents aged 70-80 years showed that the most that people of this age regret is that they spent their entire lives doing something they didn’t like.
It is the work you love that brings pleasure and allows you to achieve maximum success in your business.
Therefore, almost at first glance, you can tell whether a person will achieve something in his chosen specialty or remain on the lowest rung of the career ladder.
This rule also applies to trading; most people try to earn something on Forex only because they can earn a lot here.
Instructions for working on Forex for a beginner.
The Forex market is a great place where you can successfully realize your capabilities and potential.
Despite the fact that the currency activity itself is not so simple, most beginners mainly have problems in the first stages of becoming acquainted with this field of activity.
Yes, it is the first steps on the path to a new life that are the most difficult. After you do them, further success will depend only on you, on your perseverance, hard work and ability to learn.
By the way, our website has everything you need to successfully start your career as a trader, and you can trade either independently or with the help of special programs. So, let's start with the step-by-step instructions.
How to open a demo account on Forex or the stock exchange as quickly as possible
Many novice traders want to test their strength 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.
That is, to open a demo account you do not need to register with a brokerage company and upload personal documents; you just need to download the program and perform a couple of simple steps.
At the same time, an open 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.
Indicator for a novice 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 getting acquainted with the Forex exchange is how much can you earn here.
But this is the same as asking how much they earn by having their own business.
You can be the owner of a factory and make millions in profits, or you can have a stall at the market and barely make ends meet.
Forex is the same business, therefore the amount of profit here is also purely individual, it all depends on such components as the amount of capital and the trading strategy used.
Of course, there are some standard parameters through which the amount of earnings can be expressed; usually the percentage ratio of the deposit and profit is used.
What is online exchange trading?
If we compare modern trading and how this process was carried out thirty years ago, then
only the meaning of transactions remains common.
The technical side of the issue has changed beyond recognition - trading has become remote, round the clock, an electronic terminal has appeared, and many other innovations.
As for the practical side of the issue, there have also been significant changes - the amounts required to carry out transactions have decreased, and the amount of leverage has increased significantly.
And now let’s talk more specifically about what Internet 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 described in general terms how a client registers with a brokerage company.
But at the request of visitors, we decided to once again cover this topic, but using the example of a specific broker.
That is, create simple instructions with which you can go through all the stages in just a couple of minutes and avoid mistakes.
The well-known company Alpari will be an experimental broker, using the example of which we will consider this process.
This company has been providing its services to traders for more than 20 years and is one of the world's largest brokers, which is why it was chosen for clarity.
Account opening steps:
Basic rules of forex trading.
This article will discuss those points that every trader should know; these are general rules that must be followed.
Forex trading rules regulate the trading process and are established by dealing centers.
You can meet most of them when concluding an agreement with a dealing center, others you will encounter in practice, therefore, in order 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.
The main trading strategies are their advantages and disadvantages of which you should know
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.
Adding new scripts (indicators, experts, snails) to the metatrader trading platform
At the moment, the most popular and most widespread program for stock trading is the metatrader trading platform.
And 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 the functionality or want to engage in automatic trading, but the necessary program is not in the trading platform, then you can add a third-party script.
At the same time, there are several options for how to do this as quickly and simply as possible.
Binary options terminal
When considering different types of trading, you cannot miss trading binary options ; most beginners show better results here,
in contrast to classical trading on the stock exchange.
Binary options trading is a fairly simple trading option, but despite this it still requires the use of a special terminal.
The terminal for binary options significantly expands the possibilities as it offers various options for making transactions.
Binary options brokers present various platform options, which we will now review.
The most attractive Forex trading tools.
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 deal on Forex.
In the previous lessons in the “ ABC of Forex ” section, we covered almost all the preparatory aspects of trading, now it’s time to move on to starting trading.
Opening a Forex transaction is quite simple, especially if you already have a trader terminal installed and a demo account is registered.
It is best to study technical aspects on a demo account; its operation is no different from a real one, but you are completely insured against errors.
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