Rules And How To Trade Forex
For those of you who still lay about the world of forex, of course, ask questions, how the heck how to play forex trading it? The answer is easy.
Tools For Playing Forex
Before entering the trading, we explain first about supporting infrastructure. To be able to trade online forex required only PC computer and Internet connection. In addition, it is also necessary forex trading platform software that can be downloaded and used for free. Where can I get the software to play forex? Of course from brokers who will connect you as a trader to the forex market.
It's very easy, is not it? To see an illustration of how to trade online forex can be directly on your computer with a demo account that is also provided by the broker.
Play forex can be done anytime because the time and hours of forex trading take place 24 hours from Monday to Friday.
Basic And How To Trade Forex
Basically play Forex is done by looking at market conditions, then predict whether the value of a currency pair will be up or down. Prediction is then executed by opening a trading position (open position).
In forex, there are only 2 types of open positions. That is
1. BUY / BUY / LONG: The position of forex trading opened if the pair is predicted to be NAIK value
2. SELL / SELL / SHORT: The position of forex trading opened if the value of the pair is predicted to be DOWN
For more details see the illustration of two people playing forex below:
Handoko enters BUY position (BUY) EUR / USD at 1.3000.
After a certain time, Handoko CLOSE at 1.3064.
That way, Handoko gets 64 pip profit.
If Handoko CLOSE at 1.250 then Handoko losing 50 pips.
Erik entered in the position SELL (SELL) GBP / USD at 1.500.
After a while, Erik CLOSE at 1,400 to get a profit of 100 pips.
If Erik CLOSE is in 1,650 then Erik loses 150 pips.
Close means to close a trading position that is running or open.
Pip is the smallest unit in forex. Understanding the value of pips is very important for anyone who is learning how to trade forex.
It's very easy, is not it? To see an illustration of how to trade online forex can be directly on your computer with a demo account that is also provided by the broker.
Play forex can be done anytime because the time and hours of forex trading take place 24 hours from Monday to Friday.
Basic And How To Trade Forex
Basically play Forex is done by looking at market conditions, then predict whether the value of a currency pair will be up or down. Prediction is then executed by opening a trading position (open position).
In forex, there are only 2 types of open positions. That is
1. BUY / BUY / LONG: The position of forex trading opened if the pair is predicted to be NAIK value
2. SELL / SELL / SHORT: The position of forex trading opened if the value of the pair is predicted to be DOWN
For more details see the illustration of two people playing forex below:
Handoko enters BUY position (BUY) EUR / USD at 1.3000.
After a certain time, Handoko CLOSE at 1.3064.
That way, Handoko gets 64 pip profit.
If Handoko CLOSE at 1.250 then Handoko losing 50 pips.
Erik entered in the position SELL (SELL) GBP / USD at 1.500.
After a while, Erik CLOSE at 1,400 to get a profit of 100 pips.
If Erik CLOSE is in 1,650 then Erik loses 150 pips.
Close means to close a trading position that is running or open.
Pip is the smallest unit in forex. Understanding the value of pips is very important for anyone who is learning how to trade forex.
Conclusion
• Terms/infrastructure in online forex trading is very easy and cheap.
• The basis of forex trading is very simple: Buy if you predict it will go up, and sell if you predict it will go down. If the prediction is correct then it will gain profit, otherwise, it is the opposite.
• Infrastructure, ways, and rules to be able to play forex are easy. The hard part is how to trade properly in order to become a winner/profit.
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