THE NEWEST AND EASIEST HOW TO START FOREX TRADING

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In the nature of playing forex, there are many things that you need to consider well, starting from the budget, time and the most efficient analysis for you to use. For those of you who don’t know what forex trading is, we will explain briefly and concisely. This forex trading is trading the currency of a country with the currency value of another country, this trading process can be done for 1 x 24 hours non-stop except on holidays. In general, the process of buying and selling foreign currencies is always profitable for the players because the amount of profit obtained is clearly related to market conditions. You don’t have to go far to understand this, for example now the exchange rate of the dollar to rupiah or USD/IDR is 1 : 15,600, whereas if you have a dollar in the amount of $10, and the value of the Indonesian currency drops to 16,000. The advantage is on your side who has a dollar value.

From the previous value of 1 : 15,600 it will be 1 : 16,000. There is a difference of Rp. 400 rupiah there and it became the highest value in the forex world. Actually, that’s how the forex market game is, it’s just a system that makes it look more complicated when it’s not at all. Well, on this wonderful occasion we will share a simple way with all of you to start trading forex easily and quickly. The purpose of foreign currency trading is that it is hoped that there will be price changes, which when you buy at a low price it is expected to go up at a later date, then sell it and you will get a profit. That’s a simple understanding of forex that you can understand well, it’s just that there are still many people out there who are still losing money because of wrong tactics or calculations in playing forex trading, for that we hope that after you listen and explore this article you can apply it easily. The following are sure steps if you want to learn to play forex trading well.

Tips for Learning to Play Forex Trading for Beginners

  1. Start trading with a demo account

The first thing you have to do is play with a demo account, the purpose of a demo account at this forex broker is a virtual account where the balance or currency that you can use is also virtual. Interestingly, you can play with this demo account without losing anything at all. The benefits obtained are clearly very many, ranging from practicing your skills in trading, getting to know trading terms and strategies well, being able to see how far you are playing and many others. You can play this demo account easily and still follow the market price reference on the same day, so that the trading you do is really real according to market price conditions. When you are getting used to the demo account, please switch to real money and try little by little from the results of your practice so far.

  1. Mendownload metatrader

Then the second, if you already have an account at a certain broker and play a demo account. Try to download metatrader which is the most popular forex platform to date. Even though there is already a 5th version, it’s a good idea to try the MT4 first because the interface is still simple and easy for beginners to understand. In addition, there are several features and trading terms that you should learn more about in it. By using this metatrader, your trading activities will be much easier and simpler, moreover this metatrader is available for laptops or PCs, so it can be installed whenever you want. As for the features in it, there are clearly very many and you can learn them one by one. There are two ways to get this metatrader, first you login to the broker’s site that you follow and download it from there and the second way you can download it directly from the provider directly in MetaQuotes. The most popular type of metatrader today is MT4, while for the newest one there is MT5 which provides many more trading instruments, it’s just that it’s still difficult if you are a newbie to jump right into it.

  1. Know the best time

In the world of trading, you also have to know the best time to open a position in the market, because it is not as easy as we think. Some of the best times are always chosen by traders to get a profit, even if it doesn’t match the target, at least with a minimum profit it can give a little profit. The best opportunity to get a profit can actually be done at any time, it’s just that we are experienced in being able to make a profit during working hours. Pay attention to the playtime of several sessions such as the Tokyo Session, London Session, New York Session and Sydney Session. Some of the sessions above you can choose according to your target time.

  1. Learn more with technical indicators

The next thing that you should not miss in learning the world of trading are technical indicators that are so important for a trader to understand. Don’t expect you to be able to earn money if you can’t understand this well. Technical indicators are also often referred to by many traders as the most mathematical instruments in calculating trading market analysis. Even though it’s quite difficult to learn it, you need to know and at least know how to use it, as a consideration for your future trading plan. In its own application, the indicator can be used by all traders and fits the time frame in analyzing all pairs. There are two types of indicators that you must master well, the first is the Overlay or Chart indicator and the second is the Oscillator or Oscillator indicator.

  1. Learn with Fundamental indicators

In addition to using technical indicators, you can still use Fundamental indicators which are no less interesting for you to try and apply when playing the forex market. The application of this indicator is to analyze price movements based on data from news sources on the economic conditions of the country concerned, because these economic conditions will affect market behavior at that time. It is different from technical analysis, which is only needed to monitor the chart, while fundamentals are trading techniques by understanding the current market situation. Interesting right ? Simply put, the good economic prospects of a country also affect the value of the currency of that country or vice versa. An example of a recent case, the value of the dollar against the rupiah is getting higher, namely 1 dollar can penetrate 16,700, this means that Indonesia is experiencing an economic crisis so that the value of the currency must decrease. Conditions like this are good for those who play forex, because they are able to determine open positions.

Well, until here first is our guide in learning to explore the forex game. I hope this information is helpful. Thank you.

 

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