Trading in the foreign exchange and commodity markets has always been considered the lot of professionals. Nevertheless, with the development of the Internet, the opportunity to try their hand at this business has become available to millions.
Instructions
Step 1
For those who want to try to play on the difference in rates, the international Forex market (FOREX) is best suited. The volume of daily trading in this market reaches several trillions of dollars, and millions of traders around the world work on it. The process of getting started is very simple and accessible even to a not very sophisticated Internet user.
Step 2
To trade in Forex, you will have to use the services of one of the many dealing centers. Type in the search engine "Forex", and you will receive a lot of relevant links. Go to the website of the selected dealing center and register a live trading account. Then download the trading terminal - a program with which you will analyze incoming quotes and open orders to buy or sell currency.
Step 3
The most common today is the mt4 trading terminal. If you have a choice - mt4 or the newer version of the terminal - mt5, choose mt4. The new one lacks the ability to open multidirectional transactions for the same currency pair, which makes it impossible to use locking - one of the useful techniques of trading in Forex.
Step 4
Install the downloaded terminal, launch it. Select a job on a demo account. Most of the dealing centers provide such an opportunity. Do not trade immediately on a real account, you are 99.9% likely to lose your money. Only after working on a demo account, having mastered the basic rules of trading and having learned at least not to lose, you can proceed to trading on a real account. When registering a demo account, set in the settings the amount of initial funds with which you will start working on a real account. A convenient amount for gaining experience is $ 30.
Step 5
The trading process itself is technically very simple. Select the desired currency pair - for example, Eurodollar (EURUSD). Before you in the terminal window there will be a graph of the course dynamics, you can view the data for 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 24 hours, by days, by weeks. Evaluate where you think the course will be heading. Indicators that clearly demonstrate the features of the course dynamics will help you with this. In the mt4 terminal, the choice of indicators is quite large, if necessary, you can easily install new ones.
Step 6
After analyzing the situation and making a choice, open an order. It can be a buy, a buy (long position) - with the expectation that the rate will go up. Or sell, sell (short position) - in the expectation that the rate will go down. Set stop loss - the limit for the loss at which your order will automatically close if the rate goes contrary to your expectations. And take profit is the amount of income at which your order will also automatically close, fixing your profit. Confirm the opening, the data about your order will appear on the chart. Congratulations - the order is open, you are a full-fledged participant in the FOREX market!
