Forex trading rules and methods

Forex / 14 September, 2019

Forex trading rules and methods

Forex trading rules and methods QQIBS

For those of you World Health Organization are still lay, wondering about how the hell do I play forex? Many people mulai easily, buy currencies at low prices, then sell at high prices. In fact, to be able to ask well and achieve profits, it takes an understanding of the rules and how to trade forex which are summarized in the following 10 points.

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1. Forex trading can be only anytime and anywhere

When the forex market opened, it was divided into several major trading sessions, namely: Sydney Sessions( Australia), Tokyo Sessions( Asia), London Sessions( Europe), New York Sessions( America). These trading sessions are open and open, as if forex trading is ongoing.

trading time table

( Also read: Forex Trading Times and Hours)

This fact is very important after the Forex trading rules and methods birth of online forex trading, because what is meant by forex traders throughout the world can be used 24 hours a day for 5 days a week. You can trade forex before going to the office, before going to bed at night, or even during work breaks.

2. How to Trade Forex Online Requires Internet Access

Before entering into the discussion about how to trade forex, please note what supporting infrastructure. To be able to do forex transactions online, a computer, laptop or ponsel pintar is required; also internet connection. In addition, forex trading program aplikasi is also needed that can be downloaded and used gratis of charge.

Where can I get the aplikasi for forex trading? The companies are appointed forex brokers World Health Organization will connect you as a trader to get access to the market. So, the first step in the forex trading procedure is to go to a particular agen, then unduh the trading aplikasi that it provides.

If you want to try out how to play forex and dont want to trade for real, you can also send a forex demo akun first. Forex demo accounts can be obtained gratis from any agen, and you can be asked to trade with virtual funds( nomor need to endapan funds by riding a penny). While learning materials on how to trade forex can also be accessed freely and for gratis from the internet, including on the site aroundforex. com that you are watching.

3. Currency is officially traded in pairs

Its not just men and women created in pairs. Forex trading is also done in pairs( pairs). In forex trading, we will buy and sell currencies, and it is done Forex trading rules and methods between two different currencies. Therefore, the mention is always in pairs, where a stronger currency will be ahead. For example the American Dollar with the British Lbs, abbreviated GBP atau USD. Or American Dollars with Japanese Yen being USD atau JPY.

Basically there are two currencies that are most commonly traded in the forex market. The eight currencies, referred to as the bermain currencies consisting of:

US Dollar( USD) is also called” Greenback” or” Buck”.

The Euro( EUR) is also called the” Single Currency” or” single currency of 18 countries”

Japanese Yen( JPY)

British Pounds( GBP) nicknamed” Sterling” or” Cable”

Australian Dollar( AUD) nicknamed” Aussie”

New Zealand Dollars( NZD) nicknamed” Kiwi”

Canadian Dollar( CAD) nicknamed” Loonie”

Swiss Franc( CHF) nicknamed” Swissy”

These currencies are usually paired and sold to each other( cross), and are among the ranks of the most traded currency pairs in the world. There are also so- called exotic pairs( exotic pairs. For example, US Dollars with Singapura Dollars( USD atau SGD). However, exotic currency trading rarely occurs in the forex market, because usually volatility and trading costs will be very high, so that it can make money consider greater potential benefits.

Because currencies buy in pairs, then in forex trading, we compile buy( buy) one currency, using automatic we sell( sell) the currency that becomes its companion. For example, the Euro vs Dollar pair, as discussed in the image below:

how to trade forex- read quotes

The currency that appears in batas of the slash is known as the base currency or in the case of EUR, while the currency in the back slash is usually called a counter or currency quote or in this case the USD.

If the instruksi that we do is” buy”, the exchange rate Forex trading rules and methods tells us the value of money we need to pay using a currency quote to get a base currency. Easier, lets use the example above. To buy EUR 1, we must pay USD1. 4746.

When we make a” sell”, this exchange rate tells us the number of units of the quoted currency that we can sell one bagian of the base currency. If using the example above, Source