Playing forex trading can be said to be difficult and easy, not everyone can quickly understand this forex trading game with many factors such as lack of experience, not knowing where to start, not knowing how to play and not many who know what the benefits are. Forex, many people seek to profit from it and many also have to retreat due to losses. Well, in this article we want to share with you some of the best applications for learning forex trading, maybe with this application you can learn to understand the trading world faster and be able to jump right in with real money. Even so, the games that are in the application with demo balances, do not mean that the percentage earned will remain the same as the real currency forex. We provide information on this application as a means for you to play and learn about the world of forex. But before that, try to pay attention to some forex trading terms, so that you understand the world of trading more broadly.
Important Terms in Forex Trading World
- Exchange Rate
One of the terms that exist in the world of forex trading is the Exchange Rate which is usually written on currency pairs such as: EUR/USD = 1.3200 or means 1 Euro: 1.32 Dollars. This understanding of the exchange rate applies to all types of trading, both forex, bitcoin and so on.
- Pip Value
Next the second term in the world of forex trading is Pip which is the smallest change in value that occurs in a currency pair. Many traders call this Pip term like Points, so if the calculation itself is 1 Pip for the EUR/USD pair is 0.00001 and 1 pip for the USD/JPY pair is 0.01.
The next important term in the forex world is leverage, which is a feature of the forex trading world that is able to control large trades based on the capital you have. A small example of leverage itself is 1: 1000 which means you open a trading position of USD 1,000,000 with an initial capital of USD 1,000 only. The simplest language is 1:1000 (Open a position at 1 million rupiah but only uses one hundred thousand capital).
Margin in the sense of forex trading is the amount of deposit required to open or maintain a trading position. There are two types of margin, namely “used” which has been used to determine the position and “free” margin is the margin that can later be used to open other positions.
As for this spread, it is the difference between the selling price and the buying price, commonly known as the bid and ask of a currency pair in the world of Forex trading. The simplest example is if the EUR/USD pair is at 1.3200/03 then the spread is said to be 3 pips between 1.3202 – 1.3200.
The trading world also knows the terms long and short, which means two-way trade. More simply, it is the market conditions that are going down or up. For those of you who want to make a profit, you have to take advantage of the rising market, while you have to buy when the market price is down. This is called a long position. Meanwhile, for a short position, you must first sell at a high price and then buy again at a lower price.
- Stop/Cut Loss
The last term in the world of forex trading is known as stop loss, namely stop / cut loss. You can run this one feature automatically if you have entered the trading tools later.
Now from the many forex trading terms that we have explained above, now you understand some of the important parts in the trading world. Next we will discuss some trading tools that can be used to learn to understand and master the forex game well.
Best Apps / Tools To Learn Forex Trading
- Forex Tutorials
One application that is widely used to learn to play forex is the Forex Tutorial application which has quite complete features ranging from demos, signals, education and several supporting articles. The educational menu in this application is complete enough to provide direction and understanding in the forex world, especially for those who are beginners by using technical analysis. The disadvantage of this application is that it does not support illustrated images, so it is quite difficult for novice traders to understand its contents and is less attractive.
- Fx School
The next application that you can use to learn to explore forex is Fx School which has a simple and concise console. Perfect for those of you who want to learn quickly but gain a better understanding of the world of forex trading. In addition, there are 3 menu options contained in this application, starting from the Forex Basic menu, Quiz and List of Top 10 Global Brokers. In addition, in the Forex Basic menu there are at least 6 lessons that can be used by novice traders.
- Learn Forex
The next application that you can use to learn to understand the terms of the world of forex trading is the Forex Learning application developed by the LPG company Develo Tech. Very suitable for traders who cannot use English, besides this application is very helpful for you because the style presented is quite casual and not complicated to understand. You can download it directly on the internet, in which there are several menus such as Sitting duck, walking lamb, Running pig and Hunting Fox. You can learn all the menus above without sorting from scratch and they are all free to access. The advantages of this application are of course lots of infographic images that make it easier to learn about the world of trading, the only drawback of this application, there is no quiz or menu to test to what extent our ability to know forex trading.
- About Forex
Another application that you can use to learn to understand the term forex and how it works is the application about forex which uses the Indonesian language. You can also use another version of the application from aroundforex that already supports English, this application is available in the Android app and can be downloaded from the Playstore. The menu in it is also very complete, perfect for those of you who want to learn.
- Forex Course
This fifth application to learn to play forex trading uses English and gets a rating of 4.8 from user reviews. The preparation of the material in forex is gradual from the most basic to the highest. Against the glossary to understand forex terms in technical and fundamental analysis.
So, those are some important applications that you can use to learn to understand forex trading. May be useful. Thank you.