Equipment For Playing On Forex
Before entering into a trading, we first explain about the supporting infrastructure. For online forex trading takes only PC computer, and Internet connection. In addition, it also required the forex trading platform software that can be downloaded and used for free. Where can I get software to play it forex? Of course from a broker that will connect You to the forex market as traders.
Very easy is not it? To see an illustration of how online forex trading can be directly on your computer with the demo account is also provided by the broker.
Play forex can be done at any time, because of the time and hour forex trading takes place 24 hours since Monday through Friday.
The Base And The Way Forex Trading
Basically forex play performed by looking at market conditions, and then predict whether the value of a pair of currencies will be up or down. The prediction was later executed by opening a trading position (open position).
In forex there are only 2 types of open positions. I.e.
1. buy/BUY/LONG Position opened forex trading: If the value of the pair predicted would rise
2. Buy/SELL/SHORT: forex trading Position is opened if value pair predicted going down
For more details see the illustration of two people play forex below:
Handoko entry at position BUY (BUY) EUR/USD at 1.3000.
After a certain time, Handoko CLOSE 1.3064.
In doing so, Handoko 64 pips profit.
If Handoko CLOSE at 1,250 then Handoko suffered losses of 50 pips.
Erik entered in position SELL (SELL) GBP/USD in 1,500.
After some time, Erik CLOSE at 1,400 for 100 pips profit.
If Erik CLOSE at 1,650 then Erik loss 150 pips.
Close it is to close a position trading is running or open.
PIP is the smallest unit in the forex. Understand the value of the pips are very important for anyone who is learning how to forex trading.
Conclusion
Requirements/infrastructure in forex trading online is very easy and cheap.
The basics of forex trading is very simple: buy if it predicts will be rising, and sell if it predicts will decline. If predictions are correct then it would gain, if not then the opposite.
Infrastructure, ways, and rules to be able to play the forex is easy. The difficult part is how trading correct in order to be a winner/profit.
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