‏ Learn Some Basics of Forex and the World of Currency Trading

What are the basics of forex and the world of currency trading？

What are pending orders in the forex market？

Buy limit: A purchase order that is used to buy at a price lower than the current market price.

Sell limit: A sell order that is used to sell at a price higher than the current market price.

Buy stop: a purchase order used to buy at a price higher than the current market price

Sell stop: An order used to sell at a price lower than the current market price.

Forex swapping methods:

1. Forex jobs: You find a job advertisement of a forex company, where experience is not required. They tell you that you will initially take a 3,000 Pound course (for example) and then explain to you trivial things in the field of forex. After giving a test to you in the end, they tell you that you are not suitable.

2. Find an investment company: You deposit an amount of money in the company, which returns you dividends in a proportion. You introduce such way to other people for more profits. But such companies just work for a year or two until they suddenly focus on other depositors (Ponzi scheme).

3. Agents of new companies: Do not participate in any new company. Make sure this company have a business history. Youd better search its information and licenses so as to reassure yourself. Be careful to participate in any new company.

4. Account Managers: If you are asked to deposit in a specific company or recommend a specific company, stay away from it unless you know this company well and are assured of it.

5. Selling experts: A successful expert will not sell it as long as he earns from it.

6. Free courses: These are courses associated with specific companies, and the spreads are often high.

Capital management is one of the basics of forex:

Capital management varies from person to person. Most experts in the field of trading say that sound capital management depends on a 10% loss of the account.

Some others do not put a stop loss and depend on the exit from deals on personal appreciation, which is something that we do not recommend at all. The first step to achieve success in forex is to conduct a strict money management, and we will never exaggerate if we say that it is the most important point in the world of trading and in the trading strategies.

There are those who see the management of capital as dividing one account into multiple accounts. The capital is withdrawn upon reaching a specific amount. If he owns 10 accounts and loses 5, 6 or even 7 of them, the profits of the remaining three accounts may be more than the loss in other accounts.

Therefore, capital management depends on YOU, on the size of your capital, and on what you trained on your demo account. First of all, it is based on your PSYCHOLOGY during trading.

Important points of forex basics:

All kinds of analyses are powerful. Do not attack a specific analysis just because you failed in it. Then you will find that there are others who are successful in it, thus this type of analysis just not fits with you. Exactly like a student who can study literary subjects and even create them by writing poems but cannot study scientific or mathematical subjects, while there is another student who can study scientific and mathematical subjects and even make innovations through them but cannot write poetry or stories.

Study one strategy and do not move to any others before mastering. If you find it profitable with you, stick to it and do not distract yourself with other strategies. If you find yourself unprepared for this strategy, leave it and look for others. Unfortunately, many people, especially beginners, experiment with a new strategy for a very short period. The videos with the titles of “One Million Strategy” and “Double your account in a day”, etc., impress them, so they move from one strategy to another. At the end, time passes without learning anything in forex.