What to choose for training – demo or cent account?
In order to test a new strategy or simply study the technical aspects of trading, there is no
need to immediately risk large sums, it is advisable to use a cent or demo account for these purposes.
Each of these accounts has its own advantages and disadvantages, and is designed to perform its own tasks, which is why it is so important to use each of the options for its intended purpose.
A demo account is used solely for practicing technical trading skills in a trader’s terminal; you should not expect that thanks to it you will learn how to trade on a real exchange.
What to trade on Forex?
Choosing the right trading option, and with it the trading tool, is already half the battle; then
everything will depend on luck and your abilities.
Some traders don’t even realize how using the right trading tools can improve trading efficiency, especially for beginners in Forex.
At the moment, any of the Forex dealing centers offers not only trading in currency pairs, but also many other, no less interesting options.
Review of tools for online trading.
Who makes the most money in Forex?
Interest in other people's earnings is inherent in any person; you always want to compare your achievements with
your competitors and evaluate growth prospects.
Therefore, it will be interesting for every trader to find out who earns the most by trading Forex, and we are not talking about record holders of exchange trading, but about the most profitable trading options.
After all, if you look up to someone, you should know how he managed to achieve his success. It’s always easier not to invent a bicycle, but to repeat step by step a path that has already been taken by someone.
Binary options trading – features, advantages and disadvantages.
Many novice traders give up trading forex due to their inability to understand all the intricacies
of technical and fundamental analysis.
It seems to a beginner that it is simply not realistic to make a forecast of the future exchange rate, taking into account corrections or possible trend reversals. But trading on the stock exchange has many options, and some of them allow you to trade quite successfully even without special knowledge - this is binary options trading.
Binary options trading is a simplified type of trading, which takes into account only the final result of a transaction for a certain time. That is, now you don’t need to be afraid that the next rollback will force the stop loss to trigger.
Forex work schedule for the new year 2014.
New Year in Forex is also a time of big holidays, although this does not mean that at this time the
work of the currency exchange will completely stop and trading will not take place, there will simply be changes in the work of most dealing centers.
The Forex work schedule for the new year 2014 is presented as follows: the weekend will begin on December 28, since this date falls on a Saturday, so it is advisable for traders to close all existing transactions on the evening of Friday, December 27.
On Monday, December 30, the market will start working again and will continue its work on December 31, January 1, 2014 is a day off for Forex.
Forex trading conditions.
the trading conditions of Forex brokers also play an important role in the increase
Trading conditions are a set of all types of commissions that a broker charges when conducting dealing; this also includes other important operating parameters.
When choosing a brokerage company, it is especially important that it matches your trading strategy; only in this case will trading be as comfortable as possible.
Is it worth using analytical data in Forex?
Each of the newcomers who come to Forex, as a rule, repeats the standard path
traveled by thousands of traders.
First there are attempts to simply guess the trend, then the transition to automatic trading, then the use of forecasts from analytical agencies or individual analysts.
How realistic is it to make a profit by trading Forex and using other people's analytical data?
Oddly enough, it is quite realistic, the only peculiarity is that it is best to trade using analytics on medium time frames, such as M30, H1. Longer-term forecasts rarely come true, and when trading with scalping, you simply will not have time to fully use analytical information.
What a trader should not do.
It is always easier to prevent any mistake than to correct the consequences later; this principle is especially clear
when trading on Forex.
Here everything is much more serious, because it is not possible to return the lost money, no one will reimburse you for your capital, despite requests and assurances about the incorrect operation of the terminal, broker, or Internet connection.
Therefore, if you decide to choose the profession of a trader, you should know a few things that you should not do when trading Forex:
Forex account bonus
Sometimes when choosing a Forex broker, the amount of bonuses on your Forex account plays a decisive role, because
such an advantage allows you to increase the initial deposit by 10-70 percent.
A Forex account bonus allows you to increase your deposit without using leverage, thereby significantly reducing your risk.
There are many opponents and supporters of such bonuses; there is nothing wrong with receiving them, the main thing is to always comply with the broker’s terms and conditions when receiving them.
What to choose for trading – stocks, currencies or options.
Choosing the right trading instrument is one of the most difficult tasks that must be solved before starting stock
trading.
Modern dealing centers provide their clients with a huge selection of different trading instruments.
Therefore, it can be quite difficult for a novice trader to make his choice. Let's look at the comparison of the advantages and disadvantages of the three most common assets that are usually used when trading on the stock exchange.
Currencies – trading is carried out using so-called currency pairs; several types of market analysis are used to predict the exchange rate.
How to correctly open an order on Forex.
For an experienced trader, the questions of beginners seem at least naive, but we all took our first
steps in Forex at one time or another.
One of these steps is opening and closing an order in the trader’s trading terminal. How to correctly open an order on Forex?
– But such a seemingly simple question has quite a few answer options, it all depends on your trading strategy and the capabilities of the terminal. Each of them has its own positive and negative sides, which can only be revealed through detailed study.
How to choose a Forex broker for a beginner, with the best trading conditions
This question of how to choose a Forex broker is asked by any novice trader at the very beginning of his career; it is from this step that the organization of trading begins.
After all, knowing how to choose a Forex broker is already half the battle, because the safety of your capital depends on the correct choice; a wrong decision can result in a complete loss of funds.
There are several points that investors usually pay attention to - reliability, trading conditions, methods of replenishing an account and, of course, the availability of bonuses.
But there are other hidden conditions that you will learn about only after you start real trading; they should also be taken into account in order to avoid unpleasant surprises.
First, let's look at the main criteria for choosing a broker that you need to pay attention to and that best characterize the company.
Principles of working on Forex.
Most novice traders almost instantly lose money on the foreign exchange market, the main reason for this fact
is a simple ignorance of the basic principles of working on Forex. Moreover, there is nothing complicated here; it is enough to accurately understand what needs to be done and what should not be done under any circumstances when trading.
Forex principles are a set of rules that a novice trader should follow; in fact, these are some tactical decisions for successful trading on the stock exchange.
Conventionally, they can be divided into two main categories - capital management and transactions. Let’s move on to a detailed consideration of this topic.
Stop loss and take profit, simple installation using specific examples
You can talk about the need to set stop loss and take profit for hours, but inexperienced traders trade without using these stop orders at their own peril and risk.
In addition, there are several other rather risky options for Forex trading strategies that simply do not involve these orders.
The main reason for refusing to use stop loss, as a rule, is a purely psychological unwillingness to come to terms with the possibility of losses; the trader ends up setting their limit level in advance, and as a result, the deposit is drained .
For many traders, the problem is finding points to set stops, but this problem can be easily solved with the help of auxiliary scripts.
Stops should always be placed, with the exception of just a few cases, which will be given below.
Working on Forex is available to everyone.
During a crisis, the issue of finding a new job is especially pressing, this is especially noticeable if you
have a higher education and do not want to pick up a shovel or retrain for another job specialty.
It is quite difficult to get a more or less decent job; at best, you are offered irregular working hours with a meager salary.
The way out of this situation may be to look for an alternative place of employment. One of these options is to work on Forex, and it is not always directly related to trading; you can earn decent money without trading yourself.
Causes of losses on Forex.
When you read advertising calls for trading on Forex, everything seems quite simple, buy cheaper,
sell more expensive and the profit is in your pocket, and the more leverage you take, the more you earn.
But in reality, statistics say that only 5 out of 100 novice traders make a profit, and according to my personal statistics, even less.
What are the reasons for losses on Forex, why does someone earn millions, while others lose their deposit on the first day of trading?
Is it difficult to make money on Forex?
There are a lot of discussions around the Forex market, some argue that it is not possible to make money here, others give examples of people who
have made a fortune.
But how does this work in practice? Is it so difficult to make money on Forex? The answer to this question is both simple and complex, it all depends on how much you want to earn and how much money you have for it.
Basically, the following proportion is observed - the more money and less appetite, the higher the likelihood of earning money, and vice versa, with a small initial deposit and a great desire to earn money, you will most likely be left without the amount that you started trading.
The “Money makes money” rule is true for any exchange, including Forex; it is much easier to make a profit by opening one long-term trade using low leverage than a hundred short trades by trading scalping.
What a novice trader should know.
Very often, the reason for refusal to hire is the applicant’s insufficient qualifications or insufficient
preparation.
The employer understands that an untrained employee will perform his duties poorly and is unlikely to bring him profit. There are no employers in Forex and each trader independently pays for all the mistakes made; it is for this reason that most novice traders simply completely ignore training, paying attention exclusively to trading.
What should a novice trader know to successfully trade Forex? – as it turns out, not so much. The main thing is to correctly apply the existing knowledge in practice and not expose your deposit to excessive risk.
Forex order execution.
There are several parameters that characterize the trading conditions provided by the broker, one of these parameters is the execution of orders, and to be more precise, its type and speed.
Execution of orders on Forex is an option in which an order is transferred from the trader’s terminal to the currency exchange, regardless of this, each order is executed within a certain time, the duration of which depends on the selected broker.
What impact does the type of execution have on trading, and what are they?
Minimum deposit on Forex.
Before starting Forex trading, most novice traders are concerned about the size of the minimum deposit.
A beginner rarely has a large amount of funds, and the necessary experience can only be gained on a real account. Therefore, it is so important to choose a company not only with the most attractive trading conditions, but also with a suitable amount to start trading.
The minimum deposit on Forex can be only a few dollars, although only cent Forex brokers . Since to trade a small amount, a reduced lot size is also necessary.
Five-digit or four-digit quotes, what to choose for forex trading
Recently, many Forex brokers have appeared that allow their clients to trade on the foreign exchange market using five-digit quotes.
For this reason, some traders are interested in the question of what are the differences between five-digit and four-digit quotes.
The first difference that catches your eye is that in a five-digit quote, one standard point is equal to 10.
For example, if you are working with a currency pair, the size of the spread for which is 2 points, then in the terminal you will see the number 20.
In order to identify other differences and evaluate the advantages and disadvantages of the two options for submitting currency quotes, let’s try to compare the two types of accounts with various quote options.
Deposit drain and how to prevent it
For unknown reasons, the problem of losing a deposit begins to worry traders only after a losing trade is closed at the initiative of the broker and there are practically no funds left in the account.
If this has already happened, it is impossible to correct the situation, so it is better to avoid such moments.
A deposit drain is a loss of almost the entire amount in a trader’s account, when at best 10-20 percent of the initial amount remains on the balance sheet.
There may be several reasons for this phenomenon, as well as ways to prevent this from happening; further in the text we will consider the main measures to save your funds.
How to determine the volume of a Forex transaction?
When trading on the foreign exchange market, you should choose the right volume of a Forex transaction; the stability of your position against sharp fluctuations in the trend and the comfort of trading itself will depend on this step.
It would seem that such a simple step at first glance raises a lot of questions, and it is the answers to them that this article will enlighten. Some novice traders think that they should always trade in the maximum possible volume and make a fatal mistake.
Forex transaction volume - the amount for which an order is opened, taking into account the leverage used, is entered when opening each new order.
The main thing when choosing the transaction volume is to correctly take into account such important points as the size of the deposit, the time period of trading, trading strategy and trend dynamics.
Only after analyzing these indicators will you determine the optimal lot size, which will allow you to conduct quiet trading with minimal risk.
How to choose forex leverage
The correct answer to the question of how to choose leverage in Forex allows you not only to significantly reduce the amount of funds required for trading, but also to reduce risks.
Typically, the size of the leverage is set when registering a new account, so you need to immediately decide on its size, so that you don’t have to do all the steps a second time.
In order to choose the right Forex leverage, you should take into account several main indicators of your upcoming trading, these are the duration of transactions (time frame), the amount of funds at your disposal and the level of risk.
The main task of any trader is to obtain maximum profit, and the amount of profit directly depends on the volume of transactions. Based on this, we will try to determine the maximum allowable amount of leverage depending on the trading parameters.
What is traded on Forex and in the trader’s terminal
The answer to the question “What is traded on Forex” is quite simple and at the same time complex; on the Forex market they trade currencies and, more recently, cryptocurrencies.
But using a standard trading platform, you can trade other instruments, such as gold, silver, oil, stocks, indices, metals, wheat, etc.
Moreover, each of the selected instruments has its own trading features, on which the profitability of transactions directly depends, so before making a choice, you should dwell on this point in detail.
Let's consider what is the best way to trade to get the greatest profit and when to do it.
Forex kitchen brokers who are they and how to recognize them
Such a concept as a Forex kitchen can often be found among professional traders; there is a rather negative opinion about the activities of these companies and a number of misconceptions about them.
There are also several signs by which one can identify a given representative of the foreign exchange market. This and some other points will be discussed in this article.
What is a Forex kitchen ? It is a trading platform without direct access to the currency exchange; all transactions are carried out between the trading participants themselves.
In case of low liquidity of one of the currencies, a brokerage company can itself act as a partner in the transaction and, in case of unfavorable developments, adjust the rate or create technical difficulties for the trader.
At the same time, there are a number of misconceptions due to which representatives of large brokerage companies, who accept orders from traders and then transmit them to the server of the main company, are also included in this category.
How to open a Forex account in just a few minutes
Many people who want to open a Forex account do not know that they need to take into account several basic points that make trading on the foreign exchange market much more comfortable.
This stage is quite important for a novice trader, as it allows you to avoid a lot of unpleasant surprises and significantly saves time.
For full registration, you may need an electronic scanned copy of your passport and a document confirming your registration (place of residence), so make copies of these documents in advance.
It’s also a good idea to open an electronic wallet in one of the payment systems, preferably WebMoney, this is quite simple, as a result you get the opportunity to quickly replenish and withdraw money from your trading account and make exchanges at a more favorable rate.
There are also quite traditional ways to replenish and withdraw profits - bank account, plastic card, cash, bitcoins, Yandex money, etc.
See all available top-up options .
After you have chosen your Forex broker, you need to proceed to registration on its website, to do this you should follow these steps:
How to work on Forex without losing your money.
In order to work in Forex, you need to have certain knowledge and experience, so the trader’s primary task is not to earn huge money, but at least to simply save the deposit from being drained during the first months of trading.
The task, although complex, is completely doable; to solve it, you should follow some recommendations about the practical side of the matter, which will be discussed in this article.
I will try to give novice traders some tips regarding practical Forex trading, which will help them not repeat the mistakes I made in my time.
In order to preserve your capital, and then increase it, you need to follow these tips:
Minimum and optimal amount for Forex trading
Thanks to the use of leverage, the minimum amount for trading on Forex is only a few tens of dollars, and even less on cent accounts.
It should be borne in mind that the less you invest, the higher the risk of the operations being carried out, since in order to obtain tangible profits you need to increase your leverage.
It’s another matter if you first want to learn how to work and make money on Forex, and then, using the knowledge gained, gradually increase the amount on deposit and the volume of transactions made.
And so, how much you can earn depending on your trading strategy and the initial deposit amount.
The minimum amount with which you should start trading is $10. Using the scalping strategy, even with such capital you can have from $5 to $20 per day, but you should keep in mind that trading with scalping is very difficult.
Only professional traders receive stable income when using scalping.
How to learn to make money on Forex.
Currently, the Forex market is an excellent opportunity to quickly earn a decent fortune, although “quickly” is a rather relative concept here.
Yes, if you know how to trade, you can increase your initial deposit several times in a month, but to do this you must have some professional knowledge and experience. Almost no one can make money from scratch, so in order to become a successful trader you should study, study and study again.
How to learn to make money on Forex - first of all, you should draw up a training plan, including the main points that you should know for successful trading. This is exactly what this article will discuss.
Forex training plan.
What is Forex and how to make money on it
Explain in a nutshell what Forex is?
It is practically impossible, since it is a rather complex currency trading system, which includes a lot of concepts and definitions. But in this article I will still try to reveal the basic principles of working on Forex in a language that is easy to understand.
What is Forex - a currency exchange (market) where currency is bought and sold at the market rate, the rate is set as a result of supply and demand, under the influence of external and internal factors.
The volume of trading operations is practically unlimited; the total daily market turnover is more than 4 trillion US dollars.
We can say that this is a completely virtual market, since all transactions on it are carried out online.
Anyone can trade currency, but not directly, but through specially organized firms - Dealing Centers, which transmit orders to buy or sell currency to their representatives on the exchange.
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