With the development of the Internet, gaming on the stock exchange has become available to millions of people. The possibility of easy earnings attracts many, but out of a hundred traders playing on the stock exchange, at least ninety-five lose. According to statistics, only 3-5% of traders win. Is it possible to be among them and what is needed for this?
Instructions
Step 1
By playing on the stock exchange, you can trade a wide variety of goods, from stocks of enterprises to oil and gold. But the most convenient for a beginner is currency trading on the Forex market. To start working in Forex, find a dealing center that suits you on the Internet, download a trading terminal - usually an mt4 terminal. All that remains is to open an account, put at least $ 10 on it, and start trading.
Step 2
In order not to immediately lose your deposit, first practice on a demo account, almost all dealing centers have the opportunity to open it. When you trade on a demo account, you really do not win anything, but you also don’t lose if you lose. A demo account is an excellent platform for working out a trading strategy. Until you start making profits on a demo account, do not start trading on a real one.
Step 3
To trade, you need to choose a strategy, that is, the system by which you will trade. Trading at random, without clear rules determined by the chosen system, will inevitably lead you to the loss of your deposit. Moreover, even trading with the system, you are almost 100% likely to lose not only the first deposit, but also several of the next ones. Therefore, do not count on easy money and get ready for the fact that you will have to pay with real money to gain experience.
Step 4
To stay profitable, you need to understand what is happening in the market. Traditionally, they use fundamental and technical analysis for this. The first predicts the movement of the course based on the economic indicators of countries, political events, etc. The second one uses only the analysis of price charts. For a novice trader, fundamental analysis is practically useless, since the market is the first to know about all events and react to them before the trader has time to do anything.
Step 5
Concentrate on technical analysis. Remember that price movements are driven by speculators and formed by the market crowd. Knowing how the crowd will behave, and therefore the course, you can make a profit. The main indicator of crowd behavior is the volume of trade; it is taken into account in many analytical tools (indicators). In the mt4 terminal, you can use both the indicators available in it, and add your own.
Step 6
When analyzing charts, be sure to look at quotes on different timeframes. In mt4 it is 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, day, week, month. Consider support and resistance levels, round quotes figures - the rate always stops near these values. He can both bounce off these levels, which happens very often, and, after several attempts, overcome (break through) them and continue moving.
Step 7
Quotes of most currency pairs directly depend on the rate of the "Eurodollar" - EURUSD, so always look at the quotes of this pair. Try not to leave open orders over the weekend. Take into account the opening times of various exchanges in the world, at this time quotes can "jump" very much.
Step 8
Never rush to open an order. There will still be favorable situations for entering the market, while haste can lead to large losses. If it seems to you that you are missing the situation and you need to open an order as quickly as possible, you are almost guaranteed to be mistaken. Keep your cool, take both gains and losses calmly. Analyze the causes of failure and exclude them in the future. By acting in this way, you will gradually form your own trading system, bringing you a stable income.
