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.
Why use a trader's terminal and not just Forex? It's quite simple, because the Forex market itself only trades currencies, while the terminal allows you to work with currencies, metals, futures, options, indices, and even shares of popular companies.
Let's start our review with the options most suitable for a beginner trader.
• Currencies or currency pairs - classic Forex, with several dozen currency pairs to choose from, but you should select only the most popular ones; trading exotic pairs is highly undesirable due to the large spread (commission).
The most popular currency pairs are EUR/USD, USD/JPY, GBR/USD, AUD/USD, as well as pairs that include the euro - EUR/USD, EUR/JPY, and other options.
Beginners can try their hand at trading the ruble USD/RUB, but this should only be done if you are confident in the current trend and use a leverage of no more than 1:50.
• Binary options are one of the ways to conduct transactions, in essence it is similar to placing bets at a bookmaker's office. To make a profit, you need to guess the outcome of events.
For example, the EUR / USD rate will be higher or lower than the current one in an hour.
• Futures - various goods that are listed on stock exchanges, this can be oil, gas or gold.
• Indices are quite complex instruments, the price of which is influenced by several components at once, for example, the Dow Jones 30 index includes the stock price of 30 largest American companies. That is, when trading, you should track changes in thirty directions.
• Shares - they are also present in any of the terminals, but it is better to trade them on the stock exchange using specialized trading platforms.
The secret to a successful choice is to choose an instrument that you really understand in order to receive. For example, most analysts claim that the ruble will decline against the dollar after the Sochi Olympics, and this is indeed happening. So why not open a buy trade on the USD/RUB currency pair and then close it at a profit after the price rises?
