Before you try yourself in Forex trading, be sure to go through the learning the basics. Currently, almost every company that provides access to the Commission of operations on the foreign exchange market conducts free training on the basics of trading currencies. If your city is not held full-time employment, enroll in distance learning courses.
Select a brokerage company, through the Agency of which you will be able to enter the currency market. Pay attention to the period during which the brokerage company operates and the reviews of its clients. Beware of one-day intermediaries registered in offshore zones – in the case of financial disputes and claims you can't count on a favorable outcome of the case. Best broker – domestic Bank with a license for exchange operations in the Forex market.
Install software for trading operations. Typically, the brokerage company with which you contract for service, provides a free licensed software (commercial terminal). Read the instructions on how to use the terminal and the regulations governing the trades.
Make certain amount to your account in the broker company and transfer it into a Deposit. Today to trade in the foreign exchange market you can, with the Deposit of several hundred dollars. But, as a rule, respectable companies offer to start trading with a few thousand dollars. Now you are ready to earn on changes of courses of currencies.
The principles of extraction of profit in this case is very simple: you need to purchase a certain quantity of one currency relative to another at the lowest price, and then, when the rate will rise, to sell the purchased currency. The difference between the buy and sell and make your profit.
Withdrawal of earned on trading operations of the funds is carried out in accordance with the rules specified in the contract with the brokerage company. Keep in mind that you will have to pay the tax to incomes of physical persons 13%.
Before the headlong rush into the unpredictable world of currency transactions, understand that you assume certain risks. The market provides you the opportunity to earn unlimited profit, but it can also for a short period of time to deprive you of your investment. Before risking significant sums, gain experience by trading on a free demo account.
Advice 2: How to predict the currency rates on Forex
Foreign exchange market Forex is the largest financial market in the world, he is very changeable and fickle. He defies manipulation, but there are many factors considering which you try to predict the courses of currencies and make a profit.
Use technical analysis for forecasting exchange rates in the Forex market. This analysis is based on the assertion that the present situation already existed. Determine at the beginning of the trend or the trend movements of the exchange rate. Recognize the graphs of the trend line: the line of resistance and support. Depending on how these lines are located relative to each other, the trend may be upward, downward or lateral.
After determining the trend movement for this currency pair, start looking classic figures. These figures are described in many textbooks and the literature on the subject of Forex. One of them point to the continuation of the trend, and the second on his turn. Correct identification of the figure on the chart Forex, you can predict courses currency for profit.
Use fundamental analysis of the Forex market. This method of forecasting the exchange rate based on consideration of political, financial and economic indicators in a certain state affecting the condition of a currency.
Watch for the release not only of economic and political news, but with the emergence of various force-majeure circumstances such as natural disasters. If the Deposit rates of the national Bank are going to increase, the economy is recovering or is the infusion of investment funds, soon we can expect the growth rate of the respective currency.
Follow the situation on the currency market as a whole. Analyze the graphs of the exchange rate of such currencies as US dollar, Japanese yen, Euro, British pound and Swiss franc. These are the main currency in the Forex market, and each of them has its own impact on the others. Analyze the moment, it will help you to predict possible dramatic changes in the charts of the exchange rate.
Use the services of different analytical sites, and programs that help in forecasting currency exchange rates Forex.