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How to operate Forex ?

Although currencies are traded 24 hours a day, on weekends, Saturdays and Sundays, banks and stock exchanges are closed and bank holidays (usually different holidays in different countries / regions), the market will also be closed.
Nowadays, extra care must be taken when trading currencies, because there are far fewer participants, which greatly increases the chance of sudden short-term changes due to the execution of customer orders from one or a few large banks.
On the other hand, if you think the US dollar is going to depreciate due to the instability of the American economy, you will execute the SALE in the US dollar / Canadian dollar pair (in terms of trading: sold). That way, you will sell dollars and expect them to depreciate against the Canadian dollar.
In the foreign exchange market, we can buy first and then sell more expensive things, or sell first and then buy cheaper things. The question of whether prices rise or fall is irrelevant.
The important thing is that your trading direction is the same as the price direction! Traders use different techniques to more or less effectively predict future price trends. The range of tools used for market analysis is very wide.

Similar to stock exchanges, to conduct foreign exchange transactions, investors must register with a broker. Customers can open their buying or selling businesses through an online platform provided by a broker (real estate broker), where they will execute their business immediately.

 All of this can be done by clicking the mouse comfortably at home. Whatever your style can manipulate the market. Forex trading can use: news, fundamental analysis, economic indicators and technical analysis. 

Through the Internet, in a proprietary operating platform system, all purchase and sale orders can be executed at any time in a few seconds, and each broker offers more and more advantages in advanced technology and competitiveness. And you can trade high and low without renting any assets, such as the Stock Exchange.

For this reason, it is recommended that the interested party visit the website of the regulatory agency of the country with which he intends to negotiate foreign exchange contracts and verify that the broker is legally registered. The three main markets for these contracts are the United States, the United Kingdom and Japan, and their regulatory agencies are the Securities and Exchange Commission (SEC), the Financial Services Authority (FSA) and the Financial Services Authority (FSA). 

On the websites of the International Commission and Value Organization, there are addresses of market sheriffs in these countries / regions. Also, visit the FOREX PEACE ARMY website and check out the good and bad brokers around the world. If you find a broker classified as SCAM, stay away from him.

In 10 minutes, you can open an account online. Then, just send a copy of the requested document by mail or upload, and then send the funds to that account, which can be done via credit card, PayPal or Moneybookers, and credit the amount to your account. You can also send money to your bank by wire transfer, among other options. The foreign exchange rate is lower than the exchange rate of the Stock Exchange. 

Forex is a more technical market, in which it is better to use technical analysis and good strategies than on the stock exchange. Robots that want to push prices in the desired direction cannot do this in foreign exchange transactions, unless they have tens of billions of dollars in hand, because the volume of trading is so great that small fluctuations of hundreds of millions of dollars hardly interfered . Offer. Translated into Portuguese: Sardines are not eaten by sharks.

The combination of risk management and perfect coordination between fundamental analysis and technical analysis forms a strategy that can be combined with application discipline to make foreign exchange trading a profit source.

 Every operator or investor should look for sources of information to develop the best strategy that applies to their personal and financial situation in a convenient way. In addition to trading currencies, some brokers also provide other assets that can be traded:

The basic steps for investing in foreign currency:

  1. Conduct training courses among traders to determine how to enter and exit the market and operating strategies, and use sources of information on global economic news.
  1. Open a demo account with an international broker: This process is very simple and fast.
  1. Before you finally enter the real market, train your broker’s DEMO platform in strategy. Use the graphical analysis software provided by the broker to make better decisions.
  1. After hard training on the DEMO account, open a REAL account and start trading on the real account
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Mick

Mick

Mick is Editor in Chief and writer here on 361forex. I have been involved with the financial market for over 10 years as a self-taught professional trader and financial manager. Other features he loves to ride his bike on weekends, loves movies and going out with friends.

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