trade.allyoucanshared.com – Hii guyss how are you today? i hope you’re so fine so at this time we give you about How To Learn Forex Trading Step by Step For Beginner.
Forex trading can be interpreted as foreign exchange trading,
For some people, forex is we go to a money changer, exchange money, take home dollars or euros, it is considered a forex transaction.
How To Learn Forex Trading Step by Step
So it doesn’t need to be long, this is step by step trading forex so here we go!!
You must know about forex market
Forex market trade different with stock market trade where transactions occur centrally on the stock exchange between three parties. In Forex transactions are Over The Counter Only you and the Broker.
Understand basic about forex terminology
The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another.
You can also find out about Exchange Rate, long and short Position, bid or ask price and spread.
You must read a Forex Quote
On Forex Quote you just see two number it is ask price and bid price, usually bid price on the left and ask on the right.
Decide what currency you want buy or sell
How to make decision about it? you can make prediction about the economy on your country or consider politics maybe can help you make good decision.
Or you can read economic reports including country’s trading position.
Calculate your profits
The profit (or loss) of your business is the difference between your income and your expenses. Simply put, this is the amount that comes into your business and the amount that leaves.
Analyze the market
For example, maybe you can review economics fundamental at your country and using this information to make decision.
Place your order
In this moment, you can place different orders, what it is? That is Market Orders, limit Orders, and Stop orders.
Watch your profit and loss
In conclusion, The Forex market is volatile, and you will see ups and downs so fast. So what are you doing now?
You just learn about it or you can act now..!!
Many Thanks
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