Forex Trading for BEGINNERS APK
The description of Forex Trading for BEGINNERS
Now with ?itcoin trading ??! No Sign-ups, no Ads!
??? GoForex is a leading forex trading learning application - game for beginners. More Fun packed! ???
Based on the highly popular e-book „Forex basics & secrets in 15 minutes” it offers super friendly explanations and expert tips about fx Social trading. Rich in illustrations and trading strategy examples which will help novice traders and dummies to master the currency exchange market in a fun and quick way. You will learn the best times when to trade forex, understand what influences the currency rate fluctuations and more. You will also be able to test your knowledge and intuition with random FX question Quiz. The new improved QUIZ will also provide explanations for the correct answers, so you can really polish your knowledge about the forex market. Looking for the best forex broker? Then you will enjoy the dynamic TOP 10 brokers guide which is updated regularly on the basis of real user reviews.
• For Virtual Trading simulator, trade with EUR/USD, USD/JPY, GBP/USD, Bitcoin and OIL)
• Forex trading Basics, Expert tips for beginners, Social - Copy trading Strategies: a step by step master class.
• Interactive quiz for testing your trading skills and intuition.
• A dynamic TOP 10 broker guide including (Etoro, Plus500, AvaTrade, FxPro, FXCM and more)
What's New in Version 2.0
+ Updated QUIZ with 2X more questions
+ QUIZ now features also explanations of the correct answers
+ Possibility to share your QUIZ success with your friends
+ Enriched and improved info in the "forex basics" section
+ Improved compatibility for different screen sizes
+ Forex trading game included
Application sponsored by: Cred24.com
Trading is risky, only invest the money you can afford to lose!
More Fun packed! No Signup, no Ads:
+ Bitcoin trading
+ fixed bug with wifi data and select language menu.
+ Invite and compete with Friends
+ Candlestick Charts added
+ 40% faster
+ Forex trading game-simulator added.
+ new languages added
+ Trade 4 major currency pairs (EUR/USD, USD/JPY, GBP/USD, USD/CAD and Oil) with USD 5000 virtual money.
+ Real Time - Live currency charts
+ Updated currency trend prediction quiz with 48 Forex case studies.
+ New Quiz added - Most Influential People
Forex trading for beginners
Day trading - no, it's not something that Bill Murray wished he had in Groundhog Day. It's a style of trading on the foreign currency exchange market in which a trader completes all his trades within a single day. In other words, he may make a few dozen - or more - trades in a day with the objective of buying and selling quickly and making a profit from the fluctuations in a currency exchange rate over the course of the day.
Sound complicated? Depending on the method or system that you use to pick your trades it can be. The idea behind day trading is that currency exchange rates are subject to fluctuations over the course of the day - they go up and down depending on who's buying, who's selling and what rumors are floating around. In fact, day trading in the foreign currency market is probably the single segment of any type of stocks, currency or futures trading market most affected by rumors and real-time, real-world happenings. A savvy trader who is quick on his feet can roll up the profits by paying attention to what the current news is doing to the currency exchange rates.
The currency market, commonly referred to as the forex (short for Foreign Exchange), is the most liquid market in the world. The latest statistics say that daily trading on forex is in excess of $1.3 trillion U.S. dollars. That makes forex the world's largest, most efficient market. A major part of the reason for the liquidity and volume of trade is the practice of day trading. The difference between day trading and other types of trading is in how long you hold your stocks (or in this case, your currency). In day trading, you hold nothing beyond the close of the day's market. Think of it as a game in which the object is to keep trading cards back and forth, increasing the value of your cards - but have no cards in your hand at the end of the day.
Of course, since the currency market is a 24 hour market, there really IS no market closing - so the rules change slightly. The currency market is open from Sunday afternoon to Friday afternoon, with trading going on all the time, so you can pick your times to trade rather than being locked into the Stock Exchange timetable.
How You Make Money in Day Trading People will tell you that the difference between a day trader and an investor is the length of time that each holds onto their stocks. That's a superficial difference. The real difference is in the mindset of short-term vs. long-term and liquidity. An investor buys something that he believes will steadily increase in value, and holds onto it for the long haul. A day trader rides the minute fluctuations in the currency market minute by minute the way a surfer rides a wave. Because you're trading in lots of 100,000, a tiny fluctuation can mean a big profit - or a huge loss.
Limiting Loss in Day Trading One of the hardest concepts for new traders to grasp is that of limiting loss. Let's say you make a trade for a currency that is heading down because you believe that it's near its support point - the point where it will rebound and start heading back up. Instead, it breaks the point and keeps heading down - you're losing money instead of making it. You have two choices - hold onto it because you KNOW it will start heading back up soon, or get rid of it and limit the amount of money you're going to lose. In day trading, the name of the game is limiting your losses and maximizing your wins - decide ahead of time just how much you'll allow each trade to lose before you sell it, and then STICK TO YOUR LIMIT. By the same token, decide how much profit you want to make, set a sell order for when the currency reaches that point - and sell when it hits the mark.
Know what you're doing. Day trading on the forex is like any other business. The people who make money are the ones who take the time to learn the market and understand the ins and outs of the trades that they make. Those who jump in feet first without learning the terms, rules and trends of the forex market are priming themselves to lose - and lose big. Remember, there's no such thing as high profit potential without equivalent risk. Before you jump in, take a course in trading, or read read read all that you can.
About the Author
More of Joseph Plazo's killer articles: Art of Unstoppable Wealth Building, Sneaky Negotiation Techniques, and finding Jobs in the Philippines
Forex Trading For Beginners: The Ultimate Guide
A Tutorial That Will Take You From Zero To Trading Currencies
- 3h 33m on-demand video
- Access on mobile
- Lifetime access: Enroll for free now & watch anytime later!
What You Will Learn?
- How to exchange currencies
- How to set up a Forex account
- The common terminology
- How to pick a trading strategy
If you are new to the world of Forex and wish to understand how it works, then this course is for you. Here you will learn about the Forex markets, the terminology, how to set up an account and prepare for your first trade.
Forex Trading for Beginners - A Step-By-Step Guide
In this course you will learn:
- The basics of Forex terminology. For example, swaps, currency quotes and spreads
- How to set up trades using stop-losses and limit orders
- How to set up a demo account
- Steps needed to create a trading plan and manage money
What is Forex Trading?
When you exchange currency with another currency in at least two opposing sequences to profit, you are commencing Forex trading.
The term "opposing sequences" refers to the act of possessing a currency, which you use to buy another currency. Then you wait for this currency to gain in value relative to the first currency and re-exchange the second currency for the first one. At the end of this process, you end up with more of the currency you have started with.
When trading online, this process is performed via specific technology - trading platforms - and is highly automated, which means it occurs extremely fast.
How to Trade Forex
This course on Forex trading for beginners is meant to help you take the first steps so you could launch your online trading career. One cannot just wake up one morning and start trading online. To be successful in currency trading, you must have a plan, an entry strategy, a trading strategy, huge loss impact recovery strategy, reinvestment and withdrawal strategy, and obviously - an exit strategy.
That means it is essential to learn how to trade and find out which strategies suit you personally and financially.
So what do you, as a beginner, have to know?
- Currencies listed in the spot Forex market are floating - their values are determined by market forces.
- These values change continuously.
- The market is open five days a week.
- Currencies which are fixed to a single value or within a tight range of values by the government (such as the Chinese Yuan (CNY)) are not suitable for spot Forex trading.
- The currencies are priced, listed and traded in pairs since the thing traded in spot Forex is the change in the value of one currency relative to the value of another currency.
- One cannot access the Forex market directly, only through a broker. The broker provides the platform and a fair and balanced field for the participants of the market. As well as the market tools the traders will use.
Understanding Before Trading
This Forex trading for beginners course will help you avoid all the usual mistakes that beginners make.
The demand for currencies fall and rise due to a multitude of factors. The relationship between these factors is complicated and cannot be understood intuitively - it can only be understood through study. A beginner should not start trading until she or he understand these complexities and can use them to her or his advantage.