Guide for Forex beginner

If you are searching online investment programs than Forex trading is best of all. Currency market is open 24 hours in a day and 5 days in a week. Daily trading  volume is 4 trillion dollars.

If you are interested in adding Forex to your investment programs then follow these steps.  

Most important steps for beginner.

• 
  
  Study and Learn Forex Basic. 
• 
  
  Select a strong and reputable Broker.
• 
  
  Practice on Demo account before start real.

  

Open a demo account for Forex Trading

Select a reputable broker
and

Fill online demo account form and submit. New window will open with user name and password and link for software download you will also receive an email included all information about your demo account and link for download software.

read user guide for software before starting practice on demo account

Benefit of online Forex Trading

Today I will explain the benefit of online Forex Trading which enable the Forex Traders around the world to create the wealth and financial freedom through this safe online investment in Forex Trading.

Now a days if you search on internet for investment programs, you can find most popular, real estate, bond, stock trading and online Forex Trading.

Online Forex Trading is the best of all, because it daily trading volume is reaches at $ 4 trillion. This volume is double from all world stock, bonds and other investment sectors.

When you decided for starting Online Forex Trading you don’t required very large investment, very hard work or special technical training. you can start Forex Trading with minimum $25 (micro account) and $2000 (standard account) if you want a good start then I recommend minimum deposit $500 if you want open micro account and minimum $5000 deposit if you want open standard account. You don’t need very hard work for online Forex Trading .you can trade any time during 5 days a week and 24 hours in a day. you can choose your own trading hours from any four trading section Sydney, Tokyo, London, New York. I recommend London section.

But before you invest to open a live online Forex Trading account, you open a demo account and practice first, to understand about Forex Trading .

Forex Basic

Currency Pair

Currency is traded in pairs like EUR/USD, (EUR/USD) is a pair of Euro & US Dollar) Ist currency is called base currency and second currency is called counter currency

The most traded currency pairs in the world are called the Majors. Currencies involve in majors pair are Euro, Pound Sterling, Japanese Yen, US Dollar, Swiss France, Australian Dollar and Canadian Dollar.

Exchange Rate

The exchange rates, foreign-exchange rate, forex rate or FX rate mean how much one currency is worth against the other currency. For example EUR/USD exchange rate is 1.2500 that means one euro worth is1.2500 US dollars.

Currency Abbreviations

US Dollar                                          (USD)

Euro                                                 (EUR)

Japanese Yen                                   (JPY)

British Pound                                   (GBP)

Australian Dollar                              (AUD)

Canadian Dollar                              (CAD)

Swiss Franc                                    (CHF).

Tick

Smallest change in Exchange Rate is called Tick.

Pips or Points

If EUR/USD Exchange rate is 1.2500 that mean one Euro is equal to 1.2500 US Dollar if rate change from 1.2500 to 1.2501 that mean Euro increased one Pip or Point in value.

Lot

Currencies are traded in Lots. Standard lot size is 100,000 (100K) units Mini Lot size is 10,000 (10K) units of currency. if you have mini account and you want buy Euro then minimum you can buy 10,000 Euro

Update


keep reading my blog i will add more basic information in this post as soon as possible