Modern financial markets are attractive to the average investor due to their relative availability and ease of transactions. To become a trader requires a computer with internet access, software, and a small amount of money. One of the platforms that opens access to currency trading is the interbank Forex market, which makes it possible for each trading participant to benefit from the growth of currencies.
It is necessary
- - a computer;
- - access to the Internet;
- - software (trading terminal);
- - cash.
Instructions
Step 1
Choose a broker - an intermediary structure through which you can make transactions in the foreign exchange market. When evaluating a particular brokerage company, pay attention to the period of its work, the terms of cash settlements and the reputation in the trader community. It is optimal if you conclude an agreement with a commercial bank licensed to conduct transactions with currency on the Forex market.
Step 2
After completing an agreement for brokerage services, transfer the minimum amount of money to your guarantee and investment account. Usually, the initial investment does not exceed $ 500, but it can be either higher or lower.
Step 3
Install licensed software for performing currency transactions on your home computer. Usually, such a terminal program is completely free of charge provided by the broker when concluding a service contract. After installing the terminal, enter your registration data (login and password). Now you can start making deals.
Step 4
Learn technical ways to make a profit in the foreign exchange market. The principle of generating income is simple: you are required to buy one currency relative to another at the lowest possible price, and then, after waiting for the exchange rate to rise, sell it at a higher price. Keep in mind that it is possible to make a profit if the market falls. In this case, you just need to change the formula: first, sell the currency at a high price, and after the rate depreciates, buy at a lower price. The difference between the buying and selling rates in monetary terms will make up your profit.
Step 5
Before you risk large sums of money when making deals, check out the most common ways to predict changes in the exchange rate. Learn the basics of technical and fundamental analysis using the tutorials available. Try your hand at a demo account that does not require real investments, but allows you to understand the mechanisms of the foreign exchange market.
Step 6
Take training in preparatory courses that brokerage companies regularly organize for their clients. Success in stock trading will depend on your attitude towards studies. Errors in work will not only prevent you from gaining on changes in the exchange rate, but can cause losses.
Step 7
Tune in to long-term work and constant training in trading techniques. The market opportunities are such that it can allow you to double your investment in a matter of hours or days. But if you violate the rules of financial management, your deposit may be halved in an equally short period. Only knowledge, experience, self-discipline and the ability to manage emotions will help you capitalize on the rise or fall of currencies.
