186286

Start Trade Forex Chapter 2

Start Trade Forex Chapter 2

Many new investors People may doubt that Forex is the word “Forex” is derived from the word “Foreign Exchange” means the “Foreign Exchange” is the market with the purchase – sale. currency exchange And it is the largest financial market in the world with high risk. This is caused by many factors.

There are many investors circulating in the Forex market, both successful and failed. Once we know that the market is risky If new investors want to come to trade in this market. must study things to know You should be careful about how it is. Including studying how to trade for profit and stay in the market sustainably.

What is Forex?

Forex or Fx, short for Foreign Exchange, is a market for trading foreign exchange rates. the largest in the world It currently has a daily turnover of more than $5,000,000 million. The origin of Forex began as a result of international trade and the abolition of fixed exchange rates in many countries. has suspended tying the US dollar to gold to fix the collapse of the US economy Also known as the Nixon Shock, it was born as a floating exchange made by a middleman.

Later, with the development of more computer systems and the Internet. Making changes to the market and professional intermediaries Also known as “Broker” is more important. Exchanges that used to depend on big banks have begun to open up opportunities for the general public

Currently, we will be sending Forex orders anywhere in the world. through all electronic devices which can make profits both up and down And holds a career that has been prevalent now is a “Trader” itself.

Traders will profit from future currency speculation by sending orders on the program as a platform The most popular program currently is MetaTrader 4 (MT4), although it has evolved into MetaTrader 5 (MT5). Installing MT4 can be installed through a mobile app. and through the broker’s website on the computer.

Why do people like to trade Forex?

Different types of investments There are different forms of return and different benefits. Forex investing also has many advantages that can bring huge profits to investors and become a popular investment today. The reasons why people like to trade Forex are as follows.

1. Can trade anywhere with internet signal

This is because Forex trading is easily done through various electronic tools such as computers, mobile phones. Just have an internet signal and a trading program. It makes it possible to place profitable trading orders wherever you want.

2. Able to trade both short and long term, 24 hours a day, Monday-Friday.

There are many Forex markets all over the world including a wide variety of currencies. Make the market opening-closing time is quite similar. Forex investment therefore makes profits quickly and can be traded 24 hours a day.

3. Able to start with low capital but make a profit many times

The main advantage of Forex investing is that the initial investment is not very high. Therefore, it gives an opportunity for retail investors who have relatively little investment budget to come and make profits with this investment.

4. Able to generate profits in all market conditions, up-down

Because Forex is an independent market that is not under the control of any organization. causing the currency to change according to the world economy And value with a variety of currency values, so it can be profitable in all market conditions – up and down.

5. The market has a lot of value, high liquidity.

Forex is a huge foreign exchange market that brings together both large and small investors through Forex trading with different currencies. This makes the market highly valued and highly liquid.

How is the Forex market?

Many organizations, including banks Large companies, investment firms, investors and individual investors Most of them are involved in the Forex market for different reasons. On the other hand, individual investors may also buy and sell directly where they want to earn money through the rapid movement of the market. And where big companies can exchange as many currencies as their clients need their money to convert to other currencies.

The Forex market is the largest market in the world with a daily turnover of over $5,000,000 million. No market in the world can come close to this amount of investment and can be invested 24 hours a day.

The Forex market for investors is a market where they can profit by buying low and selling high or by selling high and buying low. Foreign Exchange Trading for Retail Investors Couldn’t invest until around 1996 when retail investors were able to invest. But in the past, investing in the Forex market could only invest in big companies. or only the very rich With the invention of new technologies and the Internet, Forex has opened up to all types of investors including the smallest investors.

What time does the Forex market open and close?

There are many Forex markets in the world. There is an overlapping opening-closing time. This allows us to trade 24 hours a day, every day. From Monday morning (4 a.m.) until Saturday morning (4 a.m. local time) The various markets have opening and closing times as follows:

What are the currencies used to trade Forex?

We can buy and sell currencies in the Forex market almost every currency in the world. There are over 200 currency pairs, including the Thai baht (THB), but the major currencies There are only a few currencies that are commonly traded in the market.

The base currency to trade

1. USD (United States Dollars) is the US dollar.
2. EUR (Euro) is the European currency.
3. GBP (Great Britain Pound) is the British Pound.
4. AUD (Australian Dollar) is the Australian dollar.
5. JPY (Japanese Yen) is the currency of the Japanese Yen.
6. CHF (Swiss Franc) is the Swiss Franc currency.
7. CAD (Canadian Dollar) is the Canadian dollar.
8. NZD (New Zealand Dollar) is the New Zealand dollar.

Popular currency pairs to trade

1. EUR/USD
2. USD/JPY
3. GBP/USD
4. AUD/USD
5. USD/CHF
6. USD/CAD
7. NZD/USD

How to Buy – Sell Forex?

How to trade Forex is similar to playing stocks. First of all, we need a portfolio to trade Forex by opening a trading account with a broker that offers it. which at present in Thailand we There are many brokers who provide services in this area. The most popular brokers are like XM. These brokers are pretty confident that they are safe. Because it has been in service for more than 10 years.

Most of the programs that are used to trade Forex most that are used are ” Metatrader 4” or abbreviated as ” MT 4″, which is a universal trading program. used all over the world Can key commands easily and quickly by ordering commands via computer. or mobile as well

Also, if any trader has the ability to write programs. Automated trading can be programmed on this program. Also known as “ EA (Expert Advisor)” can let the program run and trade according to the instructions we write automatically. where we do not have to sit and watch the screen ever

How to Buy – Sell Forex Basics for Beginners We recommend the following steps on how to trade Forex.

1. Open a trading account and verify your identity with the broker.
2. Download and install MetaTrader 4 (MT4).
3. Take an open trading account and verify your identity with the broker. Let’s log in to the MetaTrader 4 trading platform.
4. Select a currency pair to open a chart window. by holding together in pairs
5. Place an order Buy when analyzing up Sell when analyzing down Enter an order for investment units through the One Click Trading window.
6. See trading information at Trading Information. and trading history
7. Select an order to close the order as needed.

How important is a Forex trading program?

Forex trading platforms are like trading boards where everyone trades through a broker-determined platform. MetaTrader 4 (MT4) is a popular program. because it is easy to use System to help analyze various trades Most of them support this program. It can also be used to test the program back (Back test). In short, MetaTrader 4 is designed to be easy to use by anyone from the start. As for traders who have been trading for a while, they can use the newly developed MetaTrader 5 (MT5) .

MT4 Features and Highlights

1. Easy to use, uncomplicated, can be installed on both Windows and Mac IOS systems.
2. Supports Expert Advisors (EA) functionality
3. Hedging and scalping can be done, but MT5 has quite a lot of rules.
4. Can be used to test the program backward (Backtest)
5. You can customize a variety of indicators according to your needs.
6. Computer specs to use the program use Ram 3 times less than MT5.

Downloading and Installing MT4

1. It can be installed on both Windows and Mac OS computers by downloading it through the website of the broker who opened the trading account.
2. Install on mobile, tablet, both IOS and Android systems by downloading through the App Store or Play Store. Search for the name of the MetaTrader 4 program.

How to Profit from Forex Investments?

Forex trading has to say that it can be profitable on both sides, whether it’s “up” or “down”. Just give us Analyze the direction of the price correctly You can now make profit from trading. There are mainly 2 orders – sell.

1. Long or Buy
If we predict that the price will “up”, we place a “Long” order.

Buy cheap, sell high = profit

2. Short or Sell
If we predict that the price will “fall”, we place a “Short” order.

Sell ​​high, buy cheap = profit

Because the Forex market is the largest financial market in the world. It can be profitable both ways, both up and down. There is relatively high volatility. therefore, there is a risk Therefore, those who will come to invest must know the risks that will be received. Here are some things that you should know for new traders in the Forex market:

* Should learn as much as possible about the Forex market and all aspects. Bring information to assess the risks that we will receive. including planning to enter trades to make profit
* Should study the program used for buying – selling to understand because the program can perform many functions.
* should learn techniques To take profits in the precise point to reduce errors as well as to study ways to correct when the wrong way
* Should learn the currency pairs that we trade. Because each pair has a different running behavior of the graph.
* The psychology or mental state of trading is an important thing that investors must have. And should be used every time when entering the market.

Want to start trading Forex, what do you need to know?

Nowadays, many people have turned their attention to the career of a trader. But how to start trading Forex? This is the question you all want an answer to. Therefore, we would like to introduce this topic to all traders as follows.

1. Study the Forex market information
You should get some basic knowledge about Forex market because nowadays there are many kinds of scams that unwanted people use this way to make money.

2. Learn Forex Trading Vocabulary
Should study the various terms to understand, especially for newbies. It will help to better understand how to trade Forex.

3. Study Broker Information
Should study the deposit and withdrawal procedures of the brokers we apply for or are interested in. A broker is a company that acts as an agent for sending orders to the Forex market, which is very important to choose carefully. Because we will always have to contact the broker.

4. Open a Forex trading account
Provide documents for opening an account for applying to start trading, i.e. a copy of your ID card and invoice with matching name and address.

5. Find a source to learn more.
Should find learning resources to increase their knowledge of trading. Because this time, there are many institutions that teach for free. and one-on-one tutoring at Indy Trader, which offers free beginners in Forex trading and courses from beginner to professional.

6. Find your own trading method
Should find a trading system or find your own trading style, for example, some people like short trades. Some of you like long chart trading. have patience, can wait

7. Find a good trading system
Find a good trading system to help make your profit. that helps users You can trade and make your own profit. Without prior knowledge of technical charts and an EA Forex automated trading system that focuses on safe growth and real money working.

To invest with successful Forex trading for beginners. How good will this job be in this market? does not depend on anyone It depends entirely on ourselves. both diligent to learn and eager to learn “Never stop improving yourself” because you just stop walking. You may miss the opportunity to make a profit immediately.