How to start trading Forex?Whether a currency is increasing or declining in value, there is always a way for you to make money in Forex!
Consider a national currency as a security, like stocks, commodities or precious metals. The recipe for success is to buy it at the cheapest price and then sell at a higher price. Or the other way round – sell at a higher price and then buy cheaper. Whether a currency is increasing or declining in value, there is always a way for you to make money in Forex! Knowing the right time to buy or sell will do the trick. This is where market analytics, indicators, signals
Let’s consider an Example:
Currencies are traded in pairs. For example – Euro against US Dollar (EUR/USD) or British Pound against Japanese Yen (GBP/JPY). A Forex transaction involves buying one currency and selling the other currency at the same time
Let’s assume the market forecast the Euro i
s going to appreciate against US Dollar (bullish trend for EUR/USD). You decide to buy Euros with USD (buy order on EUR/USD). After some time you decide to sell the Euro at a higher price (close the open EUR/USD position). Your profit is the difference between the opening and the closing prices.
Taking a good Forex education course may be the best investment you’d ever make in your trading career. Take your time to study the basics of trading and practice it in a demo account before you start trading with real money. Always be sure to follow the rule.