Thanks to the development of the Internet, millions of people have the opportunity to play on the currency exchange. The most convenient opportunities for making money on the difference in exchange rates are provided by the FOREX market.
Instructions
Step 1
Open a search engine, type in the search box "Forex". A lot of links will appear, choose a dealing center - a company that provides access to Forex trading. For example, Alpari: https://www.alpari.ru/ or Lite-forex:
Step 2
Download the trading terminal - the program with which you will trade. The most common and convenient terminal is mt4. After downloading and installing the program, run it.
Step 3
Most of the dealing centers provide the opportunity to work on a demo account. This is very convenient as you can learn to trade without risking money. When working on a demo account, everything is completely similar to working on a real account, the only difference is that trading is for virtual dollars and in reality you do not win or lose anything.
Step 4
To open a demo account, click File - Open Account. A form will appear, enter any data (they are not checked by anyone). Select the leverage of the trade - for example, 1: 200 and the amount of the deposit. Enter the amount with which you will start trading on a real account. For example, $ 30, this amount is quite convenient for the first experience of trading on a real account.
Step 5
The demo account is registered. In the upper left part of the program window, in the "Market Watch" window, there is a list of currency pairs. Leave the ones that you need, delete the rest. You can always edit the list by right-clicking in the window and selecting "Symbols".
Step 6
Select a currency pair - let's say EURUSD / USD. At the top of the window there are timeframe buttons: 1 minute, 5, 15, 30, 1 hour, 4 hours, day, week, month. By clicking on these buttons, view the dynamics of the course change at different time intervals. This analysis allows you to understand where the course will go.
Step 7
Let's say you decide that the rate will go up. So in this situation you should buy. Right-click EURUSD in the Market Watch window and select Open Order. Option: click the "New order" button and in the window that opens, in the "Symbol" line, select the required currency pair.
Step 8
With a deposit of $ 30, play with a minimum lot of 0.01. To limit possible losses - if the rate does not go where you expected - set in the "Stop Loss" field the rate at which your order will automatically close. In the case under consideration, the stop loss can be placed 20 points below the current price.
Step 9
Set "Take Profit" - the rate at which the order will be automatically closed, fixing your profit. For example, set your take profit 50 points above the current price.
Step 10
Click the "buy" button. A couple of seconds later your order will be accepted and a green dashed line will appear on the chart to indicate the open level. When you open an order, you immediately lose a small amount - the spread, usually it is $ 0.3 for a lot of 0.01. This is the commission charged by the dealing center for opening an order. That is, when you open an order in the "Profit" column, the value "-0, 30" will immediately appear. Each movement of the course by one point (minimum movement) will give you $ 0, 1 $ profit or take away the same amount.
Step 11
Take profit and stop loss can be set after the order is opened. Right-click on the open order line at the bottom of the window and select "Modify or Delete Order". In the window that opens, enter the required values and save the changes. If you want to close the order, then select the "Close order" item.
Step 12
The basis for successful Forex trading is a competent analysis of the current market situation. The indicators present in the mt4 terminal are of great help in this. Open the menu: Insert - Indicators. Select the indicator you need, it will be added to the chart window or to a new window at the bottom of the page. Read about what the specific indicators are for and how they work in the terminal reference manual.
Step 13
Start trading on a real account only after you stop losing money on a demo account. Do not invest large amounts at once, you will almost certainly lose your first deposit. But gradually, as you gain experience, you can start making a profit.
