Startup guide to Forex trading
Forex trading (Forex trading) is an activity that can make you rich if you’re willing to take some risks. Learn currency trading here.
Here you can trade Forex, stocks, and more:
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* Your capital is at risk. Trade CFDs on shares (CFD-service).
The world’s largest investment network. Excellent for beginners.
Forex trading is exciting and instructive, and if you can tolerate a little risk, you can earn big money in the foreign exchange market. etoro have free guides and tutorials for Forex trading.
Currency is a means of payment for one or more countries. Examples of currency is the Swedish krona, euros, us dollars, Japanese yen, and so on.
Many people buy (or “switches”) currency when they go on holiday abroad. Swedes travelling to Spain for example, växler Swedish Crowns to the euro. Then you buy euro and sell Swedish kronor. This is the basic currency trading.
You can also buy and sell currencies with the intention of making money, and that’s exactly what we’re going to write about here. This is very exciting, and many earn good money from forex trading.
Get started with Forex trading
If you want to make money buying and selling currency, you must use a foreign exchange platform, this is usually done via the Internet.
It can be a bit difficult to decide which services you should use.
A popular and stable currency platform that many people use is Easy-Forex. It is a Forex broker for beginner and amateur in Forex trading, as well as for professional speculators. They offer exchange rates in real time for currency, and a number of tools that can help you when you trade currencies.
The first thing you should do is create a currency account. Then you can transfer funds, or try forex trading free without risking your own money.
We will return to this later in the article. First we’ll write a little bit about risk in foreign exchange trading, and what it takes to succeed in buying and selling currency.
Forex trading is not for everyone
You must have a desire to make money, and you have to be willing to learn. To be successful in forex trading, you need to think clearly. You must also be willing to risk their own money.
The advantage of forex trading is that you can start small and you don’t have to be rich to try.
It is also possible to get rich on currency trading, and many have become very rich to buy and sell currency.
It can go both ways, you can lose money, or to earn money.
How to start with Forex trading
It’s easier to start Forex trading than many think. Anyone can start, and there are no complicated processes before you can start trading currencies.
Forex trading occurs almost always online, and you use a currency broker to buy and sell currencies.
Here are two great services you can use to trade currencies:
etoro is a social investment platform. They make it easy to understand what’s going on in the forex. etoro is a unique service that is perfect for those who have never tried on before foreign exchange trading. etoro is an open and fun way to invest and do trading with currencies, commodities and indexes online. See who is using what, in real time, follow the best traders and automatically copy what they do.
Easy-Forex is another popular foreign exchange service on the internet. You can trade currencies, including the Swedish krona, dollar, euro, British pound, Japanese yen, to name a few. Open an account and you will receive a personal broker to help you get started. Here you can trade on margin up to 100 x, which increases the risk but which can also make you richer much faster.
Foreign exchange market: the world’s biggest financial market
The foreign exchange market (Forex Exchange) is the largest financial market in the world. Currencies are traded for several thousand billion (several billiarder!) every day.
The size of the Forex market has many advantages for people who want to buy and sell currencies to make money.
Likvititet: the market is the most liquid in the world-which means you can be sure to sell your currency.
Profit opportunities: there is always an opportunity to make money in the Forex market, every second, all day!
How do you earn money on Forex market?
The secret to making money on the currency is as easy as to buy cheap and sell for more.
The basics of Forex trading is easy to understand. You buy a currency with another currency. For example: If you buy the dollar with Swedish kronor. Then wait until the price rises. If your dollar is rising in value against the Swedish krona, you can switch back to the Swedish Crown and you have made money.
How much you earn depends on how much you bills and how much prices rise.
What currency you should buy to make money?
This is the big question. It’s all about timing in the foreign exchange market. It’s all about buying and selling at the right time. If you know how to buy cheap and sell for more so you have what you need knowledge to get rich on currency trading.
A tip is to start with a currency pair, such as SEC + euros, or EUR + USD. Instead of trying to learn a bit about all the currency pairs, so focus on a currency pair. For example, you can begin to study the link between the Swedish krona and United States dollar, or between the euro and the Japanese yen-you choose what you want to trade.
Here’s the big secret in Forex trading:
The real secret is to find out what signals that will allow the price to go down or up. You can also ignore all these fundamental tones, and instead just think of it as technically-that is to say that you analyze the price history of a currency pair instead of looking at the underlying conditions.
If the unemployment rate in Sweden is increasing dramatically, while it is stable in the United States, it can mean that the Swedish Crown weakened. If the population in the United States use more money on food, it may help the dollar.
Buying and selling currency is easy
It is relatively easy to get started with Forex trading, and you can easily earn some money, but it can go either way. It’s not super easy to get rich in forex, but it is definitely possible!
The best practice is to try forex trading free. (You can do that with eToro or Easy-Forex). When you are ready and feel empowered to deal with real money, you can insert your money in a foreign currency account.
Forex trading is fun and very educational, and you can make money and build a fortune just to buy and trade currency online.
Get rich on “margin trading”
Currency trading is risky, but anyone who is not prepared to take risks will never be rich, at least not get rich quick.
When you are trading on margin (“leverage trading”), you can do something really spectacular:
For just a small amount of money, let’s say 1,000 dollars you can invest 100,000 dollars in the foreign exchange market. This means that if you get a positive return, so this will be calculated in relation to an amount of 100,000 Swedish kronor.
This is gold! Let us explain why this example: you trade exchange for 1,000 dollars, with a leverage of 100 x. If you get a return of 24%, you have now earned 24% of 100,000 (and not just a 1000 dollars), which represents 24,000 kronor!
The downside of leverage trading is that it is much more likely that you will lose your entire investment.
The advantage, of course, is that you can earn money much faster, and more money each time you take a good decision.
Easy-Forex is a popular service for Forex trading offering leverage trading of up to 100 x. (You get free advice on this when creating an account).
etoro is also an excellent service, this is a social investment platform perfect for those who have never tried on foreign exchange trading before. Here you can invest and do trading with currencies, commodities and indices online, and see who is using what, in real time, follow the best traders and automatically copy what they do.