Inplaying forex, there are many things that you need to consider well, starting from the budget, time and the most efficient analysis for you to use. For those of you who don't know what forex trading is, we will explain it concisely and concisely. Forex trading is trading a country's currency with the value of another country's currency, this trading process can be carried out for 1 x 24 hours non-stop except on holidays. In general, the process of buying and selling foreign currencies always provides benefits for its players because the amount of profit obtained clearly has something to do with market conditions. You don't need to understand this much, for example, for the exchange rate of dollars to rupiah or USD / IDR, it is 1: 15,600, whereas if you have a dollar in the amount of $ 10, and the value of the Indonesian currency drops to 16,000.
From the previous value of 1: 15,600 it will be 1: 16,000. There is a difference of Rp. 400 rupiah there and it becomes the highest value in the forex world. Actually it's just like the forex market game, it's just that the system makes it look more complicated when it is not at all. Well, on this beautiful occasion we will share a simple way for all of you to start forex trading easily and quickly. The purpose of this foreign exchange trading is expected to be a price change, which when you buy at a low price is expected to rise later, after that, then sell and you will get a profit. That's the simple definition of forex that you can understand well, it's just that there are still many people out there who are still losing money because of wrong tactics or calculations in playing forex trading, for that reason we hope that after you have listened and explored this article can apply it easily. The following are certain steps if you want to learn to play forex trading well.
Tips on Learning to Play Forex Trading for Beginners
1. Start playing trading with a demo account
The first thing you have to do is play with a demo account, the purpose of the demo account in a forex broker is a virtual account where the balance or currency you can use is also virtual. Interestingly, you can play with this demo account without losing anything at all. Obviously there are a lot of advantages, starting from practicing your skills in trading, being well acquainted with trading terms and strategies, being able to see to what extent your limits are playing and many more. You can play this demo account easily and keep abreast of market price references on the same day, so that your trading is really real according to market price conditions. When you are getting used to a demo account, please switch to real money and try little by little from the results of your training so far.
2. Download the MetaTrader
Then the second, if you already have an account at a certain broker and play a demo account. Try to download MetaTrader which is the most popular forex platform to this day. Even though there is a 5th version, it's a good idea to try the MT4 first because it looks simple and easy for beginners to understand. In addition, there are several features and trading terms that you must learn more about. By using this MetaTrader, your trading activities will be much easier and simpler, moreover this MetaTrader is available for laptops or PCs, so you can install whatever you want. As for the features that are clearly very many inside and you can learn them one by one. There are two ways to get this metatrader, first you log into the broker site you are following and download from there and the second way you can directly download from the provider directly on MetaQuotes. The most popular type of metarader now is MT4, while for the latest there is MT5 which provides many more trading instruments, it's just that it's still difficult if you are a newbie jump right in there.
3. Know the best time
In the world of trading, you also need to know the best time to open a position in the market, because it is not as easy as we imagine. Some of the best times are always chosen by traders for profit, even if they are not on target, at least with a minimum profit can provide a little profit. The best opportunity to get profit can actually be done at any time, it's just that we are experienced to be able to get profit in working hours. Pay attention when playing in sessions such as the Tokyo session, London session, New York session and Sydney session. Some of the sessions above you can choose according to the time you are targeting.
4. Learn more with technical indicators
Next that you should not miss in learning the world of trading is a technical indicator that is so important to understand by a trader. Do not hope you can achieve cuan if you can not understand this well. Technical indicators are also often referred to by many traders as the most mathematical instruments in trading market analysis calculations. Although it is quite difficult to learn, you need to know and at least have to know its use, as a consideration for your trading plan going forward. In its own application, the indicator can be used by all traders and matches the time frame in analyzing all pairs. There are two types of indicators that you must master well, the first indicator is Overlay or Graph and the second is the Oscillator or Oscillator indicator.
5. Learn with Fundamental indicators
Besides using technical indicators, you can still use Fundamental indicators that are no less interesting for you to try and apply when playing the forex market. The application of this indicator is to analyze price movements based on data from news sources on the economic conditions of the country concerned, because these economic conditions will affect the current market behavior. It is different from technical analysis which is only needed in monitoring charts, while trading techniques are fundamental to understanding the current market situation. Interesting right ? Simply put, the economic prospects of a good country, also affect the currency value of the country or vice versa. Examples of recent cases, the value of the dollar against the rupiah is higher that is 1 dollar can penetrate 16,700 this means that Indonesia is experiencing economic crisis, so the value of the currency must decrease. Such conditions are good for those who play forex, because they are able to determine open positions.
Well, until here first our guide in learning to explore the forex game. I hope this information is helpful. Thanks.