How to be a Winner in Forex Trading - for Beginners

Forex Trading for Beginners

Forex Trading is the exchange process of one currency to another one, continuously, with the agreed rate or exchange price on the OTC market (Over-The-Counter) to get certain profit. With an average of almost US$6 trillion turn over per day, Foreign Exchange became the most traded market all over the world. In Forex Trading, we manage our own capital by doing transaction buy-and-sell through broker in online forex market, of course to get the profit.

For beginners, forex trading might be confusing just at first. But once you know the flow, I can assure you that this business is worth to fight for.

Forex Trading for Beginners

Forex trading keep rising as a result of differences between supply and demand within a certain period of time, conduced in fluctuations in currency values compared to other currency. This stage of differences betwen one currency at a time to another subsequently used as the advantage of foreign exchange trading.

Sounds like Stocks Trading? Nope. Because in stocks trading, we will only get profits if the stocks that we bought reached higher price than before. But in forex trading, we will be able to get profit in two-way direction. Even the rate is strengthened or weakened. I’ll give you an easy-peasy example :

Rate of IDR/USD per 29 April 2016 is IDR. 13,300 (which means US$ 1 equals=IDR. 13,300)

Let’s assume that we bought US$ 100 with fund amount

IDR 1,330,000.

Now, we have US$ 100.

Forex Trading for Beginners

Within 3 days, in 29 April 2016 rate USD/IDR increased to IDR. 13,400. (it means that at this point US$

1 = IDR. 13,400).

Imagine if you invest more!

As we can see, there’s difference rate amount IDR.100 between the buying rate and the sell one. This is what we called, value gains in forex trading. The more you invested in, the more profit that you will get.

Forex Trading has popularity level 10 and enticed many levels of traders, from amateur who just learning about financial business to well-groomed professional. Why? Because it is really easy to start and to trade. But one thing that maybe many entry levels might forget that it is also easy to loose in forex trading. Take notes of these tips:

1. Learn before you Drown.

Lots of forex trading simulation is out there. Have a deep trial before you start and learn about it much because this is an integral step for a trader’s success factor in forex market.

Eventhough it will only requires you small amount of money, but once you become the winner, it makes you addictive.

You may trade everysecond without remembering that there’re also chances to losses in forex trading. Start learn about geopolitical and economic factors that might affects your preferred currencies. Another thing is you might consult to your broker, take a lot of information from news and keep update about trade regulation. Start your homework, now.

2 Finding a Good Brokerage

Forex Trading for Beginners

All traders, new-bee or professional should do research to find best forex brokers for the sake of their business.

Find with the best customer services so you can ask a lot without loosing any little information. Believe me, this is important and won’t give you anytime to regret it later.

Each country has different regulation, and each brokerage also has different requirements for traders e.g commisions, initial deposits, withdrawal policies etc. Find about it more before you decide anything.

3. Simulation All Day Long

Mostly trading platorm will provide free account for beginners (or not, maybe) to do simulation, called demo account. These service is provided for us to simulate without any small amount money to sacrifice. Practice makes perfect J Enjoy your experiment before placing real money on forex trading.

I will share another tips in this blog, so keep updated and let's start to enjoy forex business!

Have a pleasant business everyone!