3 steps to FX trading - article from articlerich.com

Leo Trader ProYou have to know these in order to trade the Forex Market.


This is the smallest fraction of any currency and is used as an incremental/decremental for the currency pair. In dollar currency, 1 pips represent 0.001 Dollar. In Cross trades Japan currency, 1 pips represent 0.01 Yen. Trades are executed by entering the pips of the currency. Profit take and stop loss are measure in terms of pips also. By looking at any currency price chart, you will find the currency values in pips.

Currency Pair

All Forex are traded in currency pair. One currency is paired with another currency to form a paired currency and using this rate to establish the exchange between to country. Every country have their individual currency note. If you are holding on to United State Dollar and you intend to change it to Europe Euro, you will be using the USD/EUR rate.

Buy or Sell
In trading of Forex, you will always be holding a currency as the default or holding capital. And use it to buy or sell another currency. Due to the conversion of currency via the foreign exchange market, you can buy another currency and sell it later, or sell another currency first then buy in later. Either way you are still using your default capital money to use for the trade. As a rule of thumb, always buy low sell high, irrelevant of the time involved.

Now you know the basic, you can begin trading Forex in 3 simple steps.

Step 1

Create a trading account with your preferred Forex Broker. The broker am using is InterbankFX Australia and Alpari UK. They are established and provide MT4 platform for trading Forex. The deposit and withdraw are fast and hassle-free.

Step 2

Fund your capital. Next is to get your money into your newly created trading account. The default holding currency is United States Dollars. While you can choose many other but am using USD as the main currency because of the currency pair that I normal trade are the Major and USD related currency pair.

Step 3

The last step is to buy and activate the Expert Advisor on your trading account. You can choose a number of program to run but there is a few which I have filtered and give good results in the long run. Simply install your MT4 and run your EA program on your trading account and see your results.

The above are 3 simple steps where you don’t need to go thru many hours of trading or training to learn Forex. You can see my review of the Forex Broker and the Expert Advisor program at my website. Simply choose your preferred broker, create an trading account, fund your capital, buy a EA and install MT4 and run your EA on your trading account to gain passive income.

source http://www.articlerich.com/Article/3-steps-to-FX-trading/2129238

Profiting with Forex introduces investors to all the advantages of the global foreign exchange market and shows them how to capitalize on it. Readers will learn why forex is the perfect supplement to stock and bond investing; why it is unrivaled in terms of protection, profit potential, and ease of use; and how it can generate profits, whether the other markets are up of down.

Written by two leading forex experts, this complete investing resource uses basic economic principles, solid technical analysis, and lots of common sense to develop an arsenal of tools and techniques that will lead to winning results in the lucrative foreign exchange marketplace. Profiting with Forex includes everything that investors need to know about:

  • The many advantages of the forex market: huge market size, ease of entry, profit potential, tax incentives, 24-hour trading, no commissions, increased leverage, and guaranteed stops
  • The basic terms of forex trading: definitions of important concepts, including "pip," "currency pair," "contract" or "lot," and more
  • Genesis and growth of the forex market: how the forex market emerged out of a changing global financial landscape and continues to changes and adapt with that same volatile landscape
  • Fundamental factors that shape the Forex market: the U.S. government, inflation, the U.S. stock market, China and other emerging markets, oil, and breaking news
  • Fundamental tools for tracking Forex market changes: interest rates, Treasury International Capital Data, Consumer Price Index, S&P 500, U.S. dollar vs. Chinese yuan, balance of trade, crude oil futures, and news media
  • Technical analysis tools and indicators for gauging market sentiment: moving averages, oscillating indicators such as, stochastics, Commodity Channel Index, Relative Strength Index, Fibonacci analysis, and others
Filled with over 150 illustrations and figures, Profiting with Forex also shows investors how to combine their newly acquired knowledge of Forex fundamentals with proven trading techniques that can generate great rewards in the market.

Profiting With Forex: The Most Effective Tools and Techniques for Trading Currencies Click here to read amazon customer reviews and rating

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