How to trade on the "Forex" nine steps

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If you examine all existing materials on the market "Forex", the trade seems easy thing.But it will take many years.And the main purpose of the trader - is making a profit, but not infinite shtudirovanie theory.To learn how to start trading in the "Forex" need to make a total of nine steps.

1. Choosing a broker

Given the oversupply make it pretty easy.Collect several companies, has successfully established itself in this field, and choose the one that offers the most favorable terms.

2. Opening an account

choose a broker, open his account, which is of two kinds: the demo and real.First established to study the market and makes it possible to work out and adapt.If you know how to trade on the exchange, you can immediately open a real.Since there are many different types of real accounts, the opening of the procedure refer to aspects such as the spread, the Commission, the amount of leverage and others.

3. Install trading platform

This is a necessary step in order to understandhow to trade on the "Forex".After all, through the platform to perform all transactions.It also makes it possible to keep track of the current market situation and technical analysis.At the moment, we created four types of platforms.The most popular and convenient to assume Metatrader.

4. Selection of currency pairs

Beginners usually recommended to start with the euro / dollar, as there are, on the one hand, there is high volatility, on the other hand, spend most transactions.And it was for this pair wrote a lot of tools (indicators, strategies, etc.), with which you better learn how to trade on the "Forex".

5. Development of technical analysis

before opening the transaction is not superfluous to make this kind of analysis.This is a very laborious process, so it is better to optimize and accelerate the use of special software or read the complete reports analysts.

6. Develop strategies

most popular answer to the question of how to trade on the "Forex" profit - to develop its strategy.If you do not want to do this, you can use the existing ones.Sometimes being in the public domain strategy bring good money.

7. Opening warrant

After completion of the preparatory action is necessary to open a position.To do this, set the trading platform, select the "Open Order" and specify the amount of currency and other parameters.After click "Buy" or "Sell", and our first transaction is opened.

8. Taking profits

Who is your main task - to determine the closing price of the warrant.It is possible to register in advance, well, or to wait and manually close the deal.Limit of income for each trader, depending on your degree of greed and the market situation.

9. Fixation losses

If the price is moving in the right direction is not, it must be time to close the position with minimal losses.As in the case of profit taking, it can be done either manually or prescribing a stop loss in advance.

question of how to trade on the "Forex" is inherently a very succinct, and it is difficult to answer it within a single article.In general, the full answer to it will be able to give yourself only after many years of hard work in the currency market.

successful trading!