Do you interest about forex trading ?
Do you interest for trade forex ? If you interest for trade forex, first we must know about forex and platform for forex trading.
Forex is about trading currency pairs, likely between $ USD and GBP Pound, that known with GBP/USD pair. This GBP/USD pair is also known as major pairs. Other major pairs : EUR/USD, USD/JPY, and USD/CHF. Beside major pairs, in forex also have other pairs like : AUD/USD, GBP/JPY, EUR/JPY, and mores.
In trading forex only have two chance, SELL or also known as take SHORT for the pair or BUY also known as take LONG for the pair. If we predict the pair willl going up, we take BUY/LONG position, and if we predict the pair will going down, we take SELL/SHORT position. At forex also we can take BUY stop at xxxx for pending position which the running pairs is still below our prefer point for BUY, and SELL STOP if the running still above our prefer point for SELL.
For trading forex, we must join to forex broker. For Forex online trading we can find much top forex brokers that give good and easy method for deposit and withdrawal the money. Before trade forex, we must join the broker and deposit money. For trade forex online, we must use forex platform for place our BUY/SELL position. MT4 or as know as Meta Trader 4 is the most used for forex platform and the best online forex platform.
After join the broker, we will get our trader user and password and some broker also give investor user and password. And download broker’s MT4 software. Each broker has own MT4 software that can not used for other broker. After download and install MT4, we can login using trader user and password. After login, you will find your money as Balance at bottom.
For MT4 taking positions, simple way is click right our mouse, choose trading and New order. Also we can double click at MT4 market watch at the pair that we want to trade’s row for display the order box. In order box we can choose Sell or Buy the pairs. At first our order, we will see our profit is minus. This is because the difference between point of bid and ask that known as spread. The spread of each curreny pair is different and also between broker. Some broker can give spread as low as 0.1 point or 0 (zero).
BUY position we place at BID point, SELL at ASK point. If we take Buy/Long, for profit the BID point must bigger than our trade point, and if we take Sell/Short, for the profit, the ASK point must lower than our trade point.
Remember, at forex trade everything can be happen. Don’t trade if you are not sure. For better trading, we also usually use Indicators that we hope can help for predict the pair movement, but indicators can not 100% give you profit, so trade wisely for decrease the forex Risk….. Loss your money or bankrupt, you lose all of your money.
