Forex (foreign exchange) is the international currency market, where currencies of different countries are exchanged. Those who trade on the Forex market benefit from the difference in currencies’ prices. The principles of trade are quite simple: you need to sell at a higher price, buy at a lower price and gain profit from this difference.
Why trade forex?
This is a business where there are no leases, contracts, inspections, dissatisfied customers. Many people start trading precisely because of this. You can earn money at any time of the day or night, anywhere in the world, anywhere, even while sitting at your main job.
The volatility market is inferior to stocks in volatility, but it is easier to enter. No contracts, taxes, replenishment and withdrawal of money at your request, a free terminal, a large leverage and, as a result, a lower margin.
How to start trading?
1. Register with a reliable broker who will help you to trade on the interbank market. You should completely trust your broker – it is a necessary condition for trading in the Forex. Without adequate broker or dealing center your trading skills worth nothing. Trustworthy broker should execute orders prompt and help a trader, and do not act against him.
2. Take basic concepts: what is Forex, fundamental analysis, vocabulary, indicators, platform, trading strategies.
3. Open a demo account and try everything in practice. It is a trading simulator which helps to trade on the currency market. Firstly, download a trading platform. There are many kinds of platforms – select the one that suits you best. One of the most popular is MetaTrader 4 platform, created by MetaQuotes Software Corp. Install a trading platform, choose the amount of initial capital, desired leverage and start trading. Nothing equals with positive impact of practice. Do not trade in a demo account much time, start real trading.
4. Start trading with a minimum volume of 0.01 lot on a live account. To do this, you will need to replenish your account for 100-300 dollars.
Trading in Forex is a serious work, and above all on oneself. It will take a lot of time and money. Concentrate on trading in the market, do not be afraid to make mistakes. Form your trading plan and strictly follow it. Remember – losses are not avoidable, take them for granted.
Trade manually or with the help of robots?
To learn how to predict the market and learn how to trade manually profitably, it takes years. Traders spend a lot of time developing strategies based on different methods of trading. They analyzing the charts with his mind, opening and closing positions with his own hands.
But not everyone wants to spend years studying new material, to monitor market changes, to conduct fundamental and technical analysis of schedules, etc.
Therefore, we offer automated forex robots with an already built-in embedded trading strategy. The robot will himself open and close transactions on the basis of his signals on various currency pairs at any time, set a stop-loss and take-profit, while you are working or make other business.
How much can I earn?
You can enter the Forex market with at least $ 1 through a cent account. But what’s the point?
Some naive people expect huge earnings in the first month of work. With certainty, you are able to gain millions: but only if your deposit was also six-figure sum.
The pattern is simple: you want to earn millions, trade a million. If you want to get thousands – trade in thousands. And if you trade a penny …
But you can start small, for example, with $ 100. And gradually making a profit, leave it on the balance sheet to increase future profits.
With our Megastorm forex robot for automated trading, the minimum deposit required is $ 800. With this deposit, the maximum initial drawdown will be only 25%, and a stable profit will be about 50%-300% per month.
Good luck, and successful trading!