Nowadays, anyone with the appropriate knowledge and access to the Internet can make money in the financial markets. The tools for work are very diverse: you can make a profit by performing transactions with securities (stocks, bonds) or with their derivatives - futures and options. Great opportunities are also provided by currency trading in the interbank foreign exchange market Forex, since the currency is the most liquid financial product.
Instructions
Step 1
Select a brokerage company through which you will enter the financial markets. The convenience of work and the reliability of your investments will largely depend on the choice of an intermediary company, so treat this stage thoroughly. Study the reputation of the potential broker, the size of the commission and other conditions.
Step 2
Open a trading account with your chosen broker and transfer funds to it. The minimum amount of funds required to start trading can vary from a few hundred to several thousand US dollars.
Step 3
Download the trading terminal from the broker's website and install it on your computer. Typically, the terminal manual is embedded in the software. Now you just need to enter your data in order to activate a trading account and start working on the foreign exchange market.
Step 4
Before risking real money, start learning the principles of currency trading on a demo account. In this case, of course, you will not be able to earn anything, but also you will not lose anything in case of erroneous actions. Having gained experience in working with virtual funds, proceed to making transactions with real amounts.
Step 5
Consider a specific example of how you can profit from the currency market. Let's say you have $ 1000 in your account. Thanks to the 1: 100 leverage provided by the broker, you can operate with an amount of $ 100,000. Suppose you bought the British pound for US dollars at a price of 1.5600, and after the price increased, sold it at a price of 1.6100. by 500 points, your earnings on this trade will be $ 5000: (1, 6100 - 1, 5600) * 100000 = 5000
Step 6
Keep in mind that trades can be not only profitable, but also unprofitable. If the British exchange rate had not risen, but decreased, then if the deal was closed, you would have suffered significant losses. Therefore, when deciding to work in the financial markets, assess the risks and work only with those amounts, the loss of which will not affect your daily budget. In order to reduce risks, constantly learn the basics of trading, form your own trading strategy and adhere strictly to it.
