Before we start making money, we must remember that each of us is the owner of huge capital called "TIME". It is the time for success.It is important to use it correctly.
1. investment in education
Even though it sounds at first glance "schoolyard", use a piece of your time for learning will bring the deserved result.No one's nonsense will know us.The purpose of education is not to fill the mind but to open it.That's why the successful person is still developing.In today's fast communication and the Internet, educational tools and materials are still available. Everyone can start learning!
Do you want to succeed?So start investing in your education right now.Do you decide to "grind" the string and report that the biggest obstacle is comfort and laziness?
Everything can be understood over time, learn it.There is a need for a plan, will, patience, and practice.The brain wishes for training, which is a valuable key.
"The mind is like a garden.When we do not feed it and we do not cultivate it, weed the weeds."
2.with knowledge to earn
The first point made it clear that "learning" has to be done.Yes, even make money.Because this resource will eventually end "going to work", worrying about income and expenses, paying orders from your supervisor or boss and thinking about whether you are able to make and earn enough.And to that all a great bonus!
Your time in your hands - anytime and for anything!
You need to know:
How to start ?
To make money, you need:
a) the most information about Forex
b) computer, notebook, tablet, mobile (the best personal you can be at any time)
c) quality internet connection
d) sufficient time
e) initial capital for trading (from 1 € / 1 $ for a real account, for a demo account with no capital) *
* the amount of capital should be commensurate with the trader's knowledge, skills, practice and strategy
try it
open a real account for free, then demo account and train to
demo account
- shortcut FX
- from english International Interbank FOReign EXchange - exchange of foreign currencies
- the international currency market dealing with currencies (foreign exchange)
- the world's largest and most liquid financial market - daily turnover is $ 3 - 5 trillion (more than stock and commodity exchanges)
- does not have a stock market - so Forex is not a stock market
- operates as a global, non-centralized, interbank, automated, electronic online system - a network where market participants (banks, insurance companies, funds, investors, brokers, traders) exchange assets in different currencies in assets in other currencies; the value of earnings arises from the exchange rate (currency price) between currencies (currency pairs)
- emergence in the 1970s (1971) when the floating exchange rate was introduced
- official date is March 1973 (forex in today's form)
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Forex-e Activity - Opening Hours
FOREX - 24-hour market 5 days a week
open daily (CET)
sunday
friday
summer time
from 21:00 (23:00)**
to 23:00
winter time
from 19:00 (21:00)**
to 22:00
** - most brokers allow traders to trade 2 hours later
Volatility on Forex is dependent on stock market activity:
opening hours - major stock exchanges (CET) - active time on stock exchanges is 9 hours
open
closed
London (LSE - London Stock Exchange)
9:00
18:00
New York (NYSE - New York Stock Exchange)
14:00
23:00
Sydney (ASE - Australian Securities Exchange)
23:00
8:00
Tokyo (TSE - Tokyo Stock Exchange)
1:00
10:00
Breaking of business hours:
- London time is an hour earlier
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Who is a broker?
Broker - Business partner
- is an agent of foreign exchange or money operations
- is a company, that trades with financial instruments, receiving a commission for closed deals
- allows you to trade using the Forex platform
- creates business conditions, provides business credit, secures the realization of transactions
- - - - -
Who is a Forex trader?
Trader - Monger
- registers for free at a broker
- trades through a Forex platform provided by a broker
- trades movements - mutual exchange rates (prices) between currency pairs and underlying assets
- profits on changes in the exchange rates (prices)
- makes orders to buy or sell currency pair rates (prices)
- makes a profit by buying or selling one currency for another
- purchase BUY anticipates an increase in exchange rate (price)
- purchase SELL anticipates an decrease in exchange rate (price)
- sells the value of the exchange rate (price) in profit
- earnings on the increase or decrease of the exchange rate (price)
- is short-term (active during the day with fast orders), medium-term (active in weeks or months with long orders) and long-term (active and only a few in the given year)
- determines risk and money management
- determines your trading strategy
- determines your trading targets - "goals"
- - - - -
What is a Forex platform?
Trading platform - designed for trading on Forex
- trader's free trading account
- a computer program, an electronic system, the environment in which a trader is doing your orders
- includes a forex currency pair charts, indicator fields, current account statement, account history, financial reports, electronic diary
- an application that is after a free registration by the broker trader downloaded to the computer, then installs it and can be traded after the start and signing up (the possibility of trading via a mobile phone)
- the most used forex platform is MetaTrader 4 - MT4
- - - - -
Forex order
Forex order - Money order
- the trader is instructed to buy or sell the currency pair using the Forex platform
- the trader is instructed to close (ends) the currency pair using the Forex platform
- - - - -
What is a technical analysis?
Technical analysis
- it relies on price tracking compared to the historical price and, on the basis of this, tries to draw a forecast of its future development
- assumes that the current market price already covers all external impacts such as supply and demand, political impacts and market mood
- uses specific and sophisticated tools and indicators to assist the trader in reading the chart and determining the direction (change) of the currency pair price
- examines how the price moves and evolves
- - - - -
What is a fundamental analysis?
Fundamental analysis
- speaks about what currently affects the exchange rate (price) of the currency, the currency pair, and what may affect the exchange rate (price) of the currency, the currency pair in the future
- it examines the current factors and tries to find those factors that will affect and influence the market
- in trading, helps traders to forecast future price developments and trends
- its contents include international politics (political expressions), social factors, economic aspects and indicators, economic indicator studies, analytical assumptions, macroeconomic fundamentals and specific economic reports
- - - - -
Forex rules
Rules of successful trading on Forex
a) quality knowledge
- the essence of Forex
- business (trading) hours
- broker functioning
- trader activity
- control and functionality of the forex platform
- control and functionality of technical analysis
- functionality of fundamental analysis
- learning from an experienced trader
b) period of practice
- demo account trading
- training of tools and indicators of technical analysis
- process of entering orders, setting them up
- the impacts of fundamental analysis
- instructions from an experienced trader
c) strategy of trading
- risk and money management of trader
- targets "goals" of the trader
- advice from an experienced trader
d) psychology of trading
- learning the principles that affect trading
- training the principles that affect trading
- advice from an experienced trader
e) self-study
- financial terms and their application
- economic terms and their functionality
- political expressions and their impact on the market
- analysis of markets
- - - - -
Forex strategy
Strategy
The most important factor of Forex strategy:
REPETITION IS THE MOTHER OF WISDOM !
Successful traders still remember the need to repeat the rules of successful Forex trading. Remembering the content of the rules requires a certain amount of time to decide on the success and amount of the real financial source.
"Our education, learning and development is affecting other people and society as a whole.The more we become aware of, the better the better and the better society will emerge.Or do we want to leave our lives in the hands of others?The financial crisis, however, stems from the crisis of education.
