From articlerich.com - 5 Things you need to know about auto trading

 PIPS

This is the most basic and must be understood at all times for all Forex Trader. A pip is the smallest measurement of change between 2 currency pair. This is either express in 2 decimal place or 4 decimal place. Some broker quoted 3 or 5 decimal places and these are call fractions of pips or pipettes. EURUSD a pip is 0.0001



Currency

This is the next important portion whereas in stock and shares, company are studied and research. For Forex, it is the currency or the country that it is dependent on. For USD is United State Dollar and EUR is Europe Euro and JPY is Japan Yen and the list goes on.. As the currency is buy and sell with currency itself (unlike stock and share with lot number), therefore the currency are traded in pairs instead. Thus you will see counter like USDJPY, EURUSD, EURJPY, etc

Margin

bannerThis is most important and few trader tends to concentrate on. Margin is required at all times when you open or hold a trade. This is the capital that is used to hold your trades plus the trading profit (loss) and your floating account balance. This is different from leverage and always remembers to have at least 200% margin or more base on your trading maximum drawdown and total no. of trades open.

Free trading account


With widespread of internet online trading and many Forex Broker coming up in the market, many will provide free trading account or free demo account before you sign up for a live trading account. Take this chance to trade and perfect your trading strategy. It is free to sign up and install the trading platform software. There are lots of tutorial and guides for you to trade. This make learning stress free as you are using paper money to trade live prices.

Fund and withdrawn

Next important thing you need to know is the Forex broker that you are opening your trading account (Demo or Real account). The ease of funding your money into your trading account are equally important to the available options for withdrawn of money from your trading account. This can be easily check by running a Google search on the company and reading up on forum for scam and dishonest trading report.

Looking at Charts

Knowing how to look at charts is the basic of every trading in Forex. By observing charts at different time segment (1 minute, 5 minute, 15 minute, 1 hour, 4 hour and 1 day) you can know the trend, support and resistance of the currency. In some cases, you can predict the trend for the next few days and successfully determine the profit and stop loss according to resistance and support level.

Final words

This is the only trading strategy that works for all traders. In currency, the only way to make money is buy low sell high or sell high buy low.

Source http://www.articlerich.com/Article/5-Things-you-need-to-know-about-auto-trading/2061221



An accessible guide to trading the fast-moving foreign exchange market
The foreign exchange market, or forex, was once dominated by global banks, hedge funds, and multinational corporations, but that has all changed with Internet technology and the advent of online forex brokers. Now, hundreds of thousands of traders and investors around the world can participate in this profitable field.
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This currency trading book provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. These strategies have proven extremely effective in helping traders play the forex game to win.
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Currency trading techniques you can bank on!
Forex trading can be remarkably lucrative—and complex, confusing, and risky. Too many investors dive right into Forex, suffering big losses. If you want to trade currencies successfully, read this book, take your time, and plan accordingly. The $4 trillion Forex market will be waiting.
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