Thursday, November 16th, 2017

Can you tell me about Forex and currency trading?

I must have more education before deciding if it wanted to do it. Basically, if you could give me to a brief description of the negotiation currencty. Also, how much I am going to need to have in my account of the currency for really is worth the pain the time and the effort of negotiation and to be able to make money? I am a university student reason why a pair of hundreds of dollars is probably the unique thing that it could put and that is even extends a little.

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2 Responses to “Can you tell me about Forex and currency trading?”
  1. Loviho says:

    Currency trading is risky business, but you can make money with it. You just need to trade smart.

    Before you start trading, you should learn as much about forex as you can to prepare adequately. Many websites will advise you to trade with leverage to increase your profit. Leverage is ratio between lended capital and invested capital. For example if brokers offers you leverage of 100:1, it means that if you invest $100 you will be able to trade with $10. 000. While leverage can bring you higher profits, you can also lose all your invested money very quickly.

    Most brokers have automated systems that can issue a stop order to some trades to protect their interests, so you can never lose more than what you invested, but it is also possible that some brokers don’t have these systems and in that case you can be responsible for losses that outweight your investment. That is why you should always read brokers margin agreement.

    My advise is that you ALWAYS trade with leverage 1:1 and NEVER trade beyond 10:1, no matter how good you become at trades. People who make money with forex never trade with more leverage than 10:1.

    Also as a beginner, you can use some trading platform like Metatrader 4 that offers demo account with virtual money. It allows you to try out forex trading without any risk and that way you can see whether you can make money on forex or not.

    Just remember greed is your enemy No. 1. Also don’t expect high profits with forex. People who make money on forex are doing it slowly. If you expect a return of 200% within a week, or month, than forget it and try something else.

  2. piet lul says:

    very risky.

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