Tip 2: How to win on the growth of currencies
You will need
- - a computer;
- - access to the Internet;
- - software (trading terminal);
- - cash.
Choose a broker - an intermediary structure through which you can make transactions in the foreign exchange market. Estimating this or that broker company, pay attention to the term of its work, terms of cash payments and reputation in the community of traders. Optimally, if you enter into an agreement with a commercial bank licensed to conduct currency transactions in the Forex market.
After completing a brokerage service agreement, transfer the minimum amount of money to your guarantee-investment account. Typically, the amount of initial investment does not exceed $ 500, but it can be both higher and lower.
Install licensed currency trading software on your home computer. Usually, such a terminal program is provided absolutely free by a broker when concluding a service contract.After installing the terminal, enter your login information (username and password). Now you can start making transactions.
Learn the technical ways to make a profit in the foreign exchange market. The principle of extracting income is simple: you are required to buy one currency against another at the lowest possible price, and then, waiting for the exchange rate to rise, sell it at a higher price. Keep in mind that it is possible to make a profit when the market falls. In this case, you just need to change the formula: first, sell the currency at a high price, and after the depreciation - buy at a lower one. The difference between the purchase and sale rates in monetary terms will make up your profit.
Before you risk large amounts in the conclusion of transactions, familiarize yourself with the most common ways to predict changes in the exchange rate. Learn the basics of technical and fundamental analysis using available tutorials. Try your hand at a demo account that does not require real investment, but allows you to understand the mechanisms of action of the foreign exchange market.
Get trained in preparatory courses, which regularly organize brokerage companies for their clients. Success in exchange trading will depend on your attitude towards learning.Errors in the work not only will not allow you to win on changes in the exchange rate, but can cause losses.
Tune in for long-term work and continuous training in trading techniques. Market opportunities are such that it can allow you to double your investment in hours or days. But if you violate the rules of financial management, your deposit may be halved in an equally short period of time. Only knowledge, experience, self-discipline and the ability to manage emotions will help you make money on rising or falling currencies.
- “To play on the stock exchange just ?!”, V.A. Taran, 2005.
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