Add your answer to Shein_cooper's question on 28 Nov 2017, 10:23:42
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Add your answer to Sloppy_Duck's question on 27 Nov 2017, 16:14:24
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Add your answer to Nick's question on 27 Nov 2017, 13:07:30
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steady_lancer answered PurpleFlow's question on 27 Nov 2017, 12:49:57

Hello. You need to understand how does trading work. Basically you can open two types of position: buy (long position) and sell (short position). So, you buy if you believe that exchange rate will grow and you sell, if you believe that the price will go down. Also you need to know about such things as Bid price, Ask price and spread. Bid Price is lower, than ask. In general, you sell at bid price and buy at ask price. The difference between bid and ask is spread or the broker commission. The change of price at Forex is measured by pips. For example: currency pair Eur/usd moved from 1.1200 to 1.1201. 1 pip in this case is 0.001 usd. Leverage. Leverage allows you to work with bigger amount of actives than your own capital. Higher leverage allows to trade more volume and pay less margin. However, you should be aware of the risk you take by trading large volumes, because a change in 1 pip in exchange rate can lead to a 10 loss in a trade and, if your deposit is not very large, can lead to even a margin call and your deposit will be lost. Commissions and Fees. Usually, Brokers take their commission in the form of spread. However, pay attention. Some Brokers take additional commision. You need to choose a broker that provides demo accounts. You can try InstaForex. They have mt4, mt5, webtrader and mobile terminal for demo accounts. Also trading conditions are good. When you will learn to trade, you need to find a way to make your trades profitable. Try and test different strategies, different indicators and different approach to trading. Learn Money Management, risk control at forex and open real account only if you`re well prepared to trade.

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Add your answer to Mary's question on 11 Sep 2017, 03:31:17
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Add your answer to Steven's question on 11 Sep 2017, 03:29:15
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