Forex Trading - Secondary Income Source

dessubodh By dessubodh, 15th Jan 2014 | Follow this author | RSS Feed
Posted in Wikinut>Money>Forex Trading

When it comes to trading there are lot of things we need to study and understand. Advertisements are seen saying start with no experience, but is it really worth doing this way ?

Hedging Strategies May Help in Making consistent Money in Forex

When we think of trading currencies, we need to know a lot of things to start with, its not only about buying and selling blindly. There are many factors which tells us if we really are meant for trading forex. I have been trading commodities and equities for last two years and i need to tell my fellow members who intend to start trading . One can easily lose money in forex than gaining profits. Here are some basic things you need to study in depth before start even thinking of trading forex markets. Hope this will help to some extent.

1.Trading Platform - we need a trading platform which is simple and easy to understand the basic on how to put a buy / sell order. execution of order .
2. How to use your margin and monitor the margin money.
3. Avoiding the Margin Call.
4. What is leverage and what are its recommendations.
5. What do you mean by rollover and how does it works
6. The proper information of trading hours around the globe which affects the currency.
7. How orders are executed in weeks or weekends.
8. What are spreads, and how to use these online while executing orders.
9. Trade execution price mismatch and slippage
10. When and why is our trade open or close.

Well writing in detail all about this will not serve the purpose, because one has to self study the above points before trading. If you understand and master the above points you can start paper trading to get confidence in Forex Market.


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Meet the author

author avatar dessubodh
I worked with an Manufacturing company for 15 years and now i am a full time trader . I like writing articles on different subjects and interact with people

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