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RoboForex - roboforex.com: overview, news and analytics
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[QUOTE="RoboForex Team, post: 328978, member: 105160"] [B][SIZE=18px]How to Trade on Forex? Ultimate Guide for Beginners[/SIZE][/B] [CENTER][IMG]https://blog.roboforex.com/wp-content/uploads/2019/06/obrazovanie-_kak-torgovat-na-finansovyh-rynkah.png[/IMG] [B]Dear Clients and Partners,[/B][/CENTER] [SIZE=18px]What are financial markets – exchange and Forex?[/SIZE] When an uninitiated reader encounters the collocation "financial market", they discern no difference between such terms as "stock market", "exchange", "Forex", "equity market", "bond market", "currency market", "derivative market", etc. So, I think there should be an explanation what the financial market really is. First of all, understand and remember that the financial market is not just a place for trading, but the entire system of the economic relations, which appeared in the process of exchanging different goods and recourses. The financial market is an environment for mobilization and aggregation of capital, for loaning, exchanging currencies, and investing in the industrial sector. Balance of supply/demand for borrowed funds forms the global financial market. The global financial market can be classified according to types of goods that are traded. There are following types of financial markets: [LIST] [*]The currency market (Forex). The basic asset here is currencies, which are bought and sold by brokerage companies, banks, and investment funds. [*]The stock market. This is the place where they trade securities (stocks, bonds, bills, derivatives). [*]The commodity market. Among assets that are traded here are oil, metals, farm produce. [*]The precious metals market is often considered as a part of the commodity market, but it should be classified as a separate market due to significant trade turnover growth. As a rule, precious metals often serve as safe haven assets. [/LIST] [SIZE=18px]Trading procedures on Forex[/SIZE] Since the Forex market is an OTC market, it doesn’t imply actually buying or selling currencies like they do in exchange offices. A lot of people ask themselves a question: "How do I become a trader and start trading on financial markets?" Let’s try to track the career path of a future "big boy from Wall Street" step by step. Early stages in trading on Forex and other financial markets are pretty similar. Let’s take a closer look at this process by the example of the currency market. First of all, a trader-to-be chooses a broker and decides on the trading platform they are going to use for trading. A variety of trading terminals available on the market allows to choose one that meets all their requirements and preferences. After choosing the platform, they have to decide on a trading account type. As a first step, it’s better to go for a standard demo account, which helps to learn how to open and close positions, place Stop Loss and Take Profit levels, and use charts and indicators. Stop Loss is a protective order placed by a trader to limit possible losses in case of negative market situation. The order level is defined on basis of the current market situation, risks that a trader can afford, and their trading strategy. Take Profit is an order to close a position when the instrument quotes reaches some specific price level. The order parameters are set by a trader based on their forecasts or according to their trading strategies. Take Profit orders can be placed not lonely at the position opening, but later as well. Also, there are methods of trading without Stop Loss and Take Profit levels, when a trader closes each deal manually after evaluating the current market situation. [SIZE=18px]How to trade on demo account?[/SIZE] Let’s assume that a trader chooses MetaTrader 4 terminal, opens a demo account with 10,000 virtual USD, and decides to trade EUR/USD positions of 1 lot. In this case, a trader opens positions using virtual money and if they lose it, no real financial losses will be incurred. Any trader has an opportunity to open several demo account with the same broker and trade any amount of virtual funds. After that, it’s time to learn how to open positions. After opening the EUR/USD chart, a trader sees that the price may rise in the future (we’ll later discuss what reasons this conclusion is based upon). To open an order, we choose "New order" tab, specify the volume (by default, 1 lot), set Stop Loss and Take Profit levels, and add comment to the order if necessary. Read more at R Blog - RoboForex [B]Sincerely, RoboForex Team[/B] [/QUOTE]
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