How to win 1000 dollars from forex and trading | From the Internet Profit 2022

How to win 1000 dollars from forex and trading | From the Internet Profit 2022

Forex is the largest market in the world, both in terms of trading volume and daily transactions The amount of money that is traded in Forex every day is estimated at more than 5 trillion dollars Forex is traded 24 hours a day, five days a week

How to win 1000 dollars from forex and trading | From the Internet Profit 2022

What is forex?

Forex, also known as the foreign exchange rate (or currency market), is a decentralized process that exchanges one currency for another at an agreed price. It is a market in which currencies are traded between two parties in real time over communication networks without the need for supervision of the exchange

Forex never stops

Forex trading is the practice of speculating on the movement of exchange rates by buying one currency and selling another at the same time the value of a currency rises and falls against each other due to economic, geopolitical and technical factors.

Forex is a globally traded market that is open 24 hours a day, five days a week Follow the movement of the sunrise around the earth as it opens Monday morning in Wellington New Zealand before advancing towards the Asian markets in Tokyo and Singapore and then moving to London before closing Friday evening in New York

Although the markets are closed for the weekend, nothing will happen that will not have an impact on the currency rates at the opening

There is no bigger market for forex

The forex market is the most traded in the world with a turnover of more than $5 trillion per day. This means that currency rates fluctuate constantly against the prices of other currencies, creating trading opportunities for investors to take advantage of.

It is rare for two currencies to be equal in value to each other and it is also rare for any two currencies to hold the same relative value for more than a short period of time

You may not realize that you have been involved in the forex market at least once in your life Suppose you are planning a vacation in the US and you will need to transfer money from British Pounds (GBP) to US Dollars (USD)

On Monday, you go to the currency exchange center and find that the exchange rate of the pound to the US dollar is $1.45 ($1.45/£100 = $145) This means that for every pound exchanged, you will get $1.45 in return (spend 100 pounds) GBP for $145)

But the exchange rate between the British pound and the US dollar became $1.60 after a few weeks if you spend £100 now, you will get $160, an increase of $15 if you know the exchange rate is going up against the US dollar

Forex Trading Basics

  1. Currency exchange rates fluctuate all the time due to a number of factors such as the strength of a country's economy. What forex traders strive to achieve is to take advantage of these fluctuations by speculating whether prices will rise or fall.
  2. Currency pairs are quoted by placing one currency against another. Each pair has a base currency, which is the first indicated currency, and the counter currency, which is the second indicated currency.
  3. Each currency can strengthen and rise in value or weaken and fall in value because there are two currencies in each pair, there are actually four variables that you can imagine when it comes to forex trading
  4. If you think that the value of one currency will rise against another, you place a buy order If you think that the value of one currency will decrease against another, you place a short order
  5. You can choose to buy if you feel that the value of the dollar will rise against the yen or that the value of the yen will weaken against the US dollar On the other hand, if you feel that both currencies will rise or fall, you can buy or sell these pairs
  6.  The forex market gives you endless possibilities every day every hour from minute to minute
  7. The process of currency trading is called Forex It is the largest financial market in the world, with a daily trading volume of 5 trillion dollars in which many currencies and people participate because you buy one currency using another currency and then sell it you trade pairs (currency pairs)

How can you benefit from exchange rate changes?

Exchange rates are constantly changing, and traders seek to take advantage of these changes. Here is an example:

Let say you travel abroad and go to an exchange office and use 500 dollars to buy Euros After a week, you come home (without spending any of your Euros) and promise again to exchange your Euros into dollars but in return you get 505 dollars since the exchange rate changed during this  This week is called $5 Profits from Currency Trading

 Gone are the days when you needed to leave your home to invest in currencies long ago thanks to online forex trading, everyone can invest in different currencies from within their homes or even through their smartphone and take advantage of price changes

 Which currencies can you trade?

There are many currency pairs you can invest in with iFOREX In fact, there are more than 80 currency pairs you can choose from. Let's take a look at some of the options available to you.

  •  Major currencies
  •  cross coins
  •  remote coins

 The most traded currency is the majors and they make up about 85% of all currency exchange markets and they consist of the US dollar, the euro, the yen, the British pound, the Canadian dollar and the Australian dollar

Currency pairs that do not contain the US dollar are usually called cross currency pairs for example: EUR/XAU, USD/XAG, GBP/AUD

Forex pairs consist of a major and a minor currency of an emerging economy

  •  EUR/USD
  •  USD/JPY
  •  GBP/USD
  •  AUD/USD
  •  USD/CHF
  •  NZD/USD
  •  USD/CAD
  •  GBP/JPY
  •  CAD/JPY
  •  USD/ZAR
  •  USD/HKD

iFOREX offers a wide range of currency pairs that you can trade on the website

 Understanding the term (pips)

A pip is a change of one unit in the fourth decimal place In most currency pairs a pip is a change of one unit in the fourth decimal place but there are exceptions, such as the Japanese yen pairs, where the pip is changed by one unit in the second decimal place

 are you confused  Here's a quick example:

 The value of one pip in the EUR/USD has moved from 1.1050 to 1.1051, which is 0.0001 of the point high.

 When can you trade forex?

The forex market operates 24 hours a day and can be divided into four sessions: the Sydney session (Australia), the Tokyo session (Japan), the London session (Britain), and the New York session (USA)

 Currency trading with leverage (CFD)

In the past, only major investors were involved in currency trading however, now anyone can buy and sell currencies from the backyard of CFDs (Contracts for Difference), which are derivatives (financial instruments that derive value by reference to some underlying asset).

This is thanks to a unique tool called leverage. This is due to a method called margining: it allows you to open trades with relatively small investments using borrowed money that is then recovered when the position loses money. The required margin for each trade in these contracts With an investment of €100, you can open a position with a value of 40,000  EUR 400:1 leveraged. For every EUR invested, we give you up to 400 EUR in leveraged trading to put this in perspective, if you only invested 100 EUR and try to trade 100:1 leverage at the start of the downtrend.

This will reduce your account by 70%!  With iFOREX Negative Balance Protection your account will never go down even though you make mistakes - we protect your capital by automatically buying a position when it is undervalued

 How to open your first trade on a currency pair

 You are ready to open your first bewitching currency trading!  You can do it in three simple steps

  •  Choose a currency pair

Suppose you want to trade the euro against the US dollar or the euro / dollar, for example, if the price of one euro is 1.1200 dollars with an investment of 100 euros, you can buy 112 dollars without leverage

  •  Choose your deal size

Leverage allows you to open a position worth up to 400 times your initial investment, for example 100 EUR can buy 40,000 EUR worth of dollars with a leverage of 400:1.

 €40,000 = 400 x €100

  •  Choose direction
  •  Close your deal and collect your profits

Let say the price of EUR/USD goes up - which means the value of the EUR goes up by 0.01 - and you decide to close your position

 This change of 0.01 for a transaction of €40,000 means a profit of $400 on a €100 investment

There are many advantages to trading forex in the form of CFDs with iFOREX

  1. Participation in the largest financial market in the world.
  2. Open big deals with a small initial investment.
  3. Invest in a variety of different currencies.
  4. Get free access to useful information resources.
  5. Get free trading training.
  6. Use the time you have to trade or use your phone or computer.

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