Playing forex or making money on the exchange rate
More than five years have passed since I first started playing forex, at that time making money on the exchange rate was still exotic for most Internet
users, and it was quite difficult to get the necessary information.
But over time, the necessary knowledge accumulated, and practical work experience appeared.
Now I can confidently say that I know what the Forex game is and whether it is possible to really make money with a small initial capital.
Since the beginning of trading, the amount of my deposit has increased from 100 to 10,000 dollars, although the growth did not always occur only due to profit.
There were times when I simply deposited free money into the account. Now I manage to consistently earn from 2000 to 2500 dollars a month, not as much as I wanted, but stable
Playing Forex involves making a profit by buying and selling currencies; the difference between the price of a currency pair is precisely what brings that profit.
Making money on the exchange rate is currently the most profitable and less risky trading option compared to similar investment methods.
How to start playing Forex
1. Choosing a dealing center is a rather hackneyed topic, but any Forex trader starts with this. In the first six months I had to try about ten different options.
Everywhere has its pros and cons, as a result I settled on www.roboforex.com/ru/ , no matter what they say, but, in my opinion, this is the golden mean.
You can choose both the spread option and the order execution option, depending on your trading strategy. I myself trade on ECN-Pro NDD , an excellent option if you have substantial capital.
There is also the opportunity to start trading on a cent account and receive a bonus upon registration; you can independently choose a no-deposit bonus of $30 or interest on the amount you replenish your account.
2. Leverage - at first, like everyone else, I chased volumes, took 1:500, but after that I realized that if you want to lose your deposit, then this is it, now I don’t use leverage more than 1:50.
But the choice is yours. It all depends on the amount of available funds and your thirst for profit, but as a rule, at first it is better not to get carried away with large volumes, when a movement of 1 point is almost 10% of your deposit, but learn to make money on the exchange rate with the least risk for your own deposit .
3. Safe transactions - from the first orders you place, immediately make it a rule to always use a stop loss, only in this case you can avoid huge troubles.
And the second rule should be: do not change the indicator of this stop loss, that is, you can move towards profit. But there are no losses on the side.
4. Strategy - try several of the Forex strategy , and then choose the one that is more suitable for you and trade, keeping statistics and taking into account errors.
5. Trading with advisors - if everything was that simple, then no one would place deposits in banks, buy an advisor and receive 100% profit per month.
Many investment companies use advisors in their work, robots manage billions of dollars in accounts, but these are essentially artificial intelligence, and not something that is on sale for $100.
In fact, most programs for making money on Forex bring losses or simply refuse to trade; only a few are exceptions to the rule.
I myself use trading robots only to receive signals, after which I check them and only then open a deal.
Playing Forex allows you not only to get a stable income on the exchange rate, but to acquire a lot of useful knowledge, thanks to which you can find a new job - a financial analyst, a consultant in a dealing center .
So, the time spent on studying will not be wasted in any case, and you will always be able to find a use for your knowledge.