The trading of currencies is considered to be a rapidly growing industry online. Although forex trading has existed for many years, it is only recently that it has taken trading to the next level. The currency market was usually dominated by the larger banks and top export and import companies that make international trading.
For a starter, I suggest you to get information on how your broker make money. I love it when a forex broker tries to tout their zero commission platform. Actually it’s not make sense if know how they operate and make profit. When you open your live forex trading account, usually after that we start to select a pair we want to trade. The spread a usually between 2-5 pips. but some of the pair is higher. Your forex broker has the ability to buy at the bid and sell at the ask. In other words, they take your order and immediately dump your order at bid or ask to make their profit or commission. Your trades in profit or lose, they made profit on both, this is the best if you become a broker.
Obviously its forex guide not easy to calculate the gains or losses on a non USD denominated currency pair like USD/JPY or AUD/EUR Thus the brokers the correct name for exchanges publish lists of pip costs’. It tells you how much of a gain or loss you’d make if the pair moved by one pip.
To start of, a little tip that a lot of people are not familiar with is that FAP Turbo was made from the same people as Forex Autopilot was. Simply put, Forex Autopilot was a ground-breaking software program and FAP Turbo is its new and improved brother.
But in forex trading, it’s the right forex trading tutorials and education that counts and you are rewarded for being accurate and not for efforts. You will be surprised that successful traders only follow a winning trading system blindly to build up their trading capital.
As to the overall trading process, eToro is a reliable website and system so you can trade continuously without glitches. You get constant market updates which give you a glimpse of the important news which may affect currency prices.
Just take your time with it. Follow the advice above and you will eventually become successful with enough perseverance. Remember that 95% of the game is simply finding the right Forex robot and then tweaking the settings until you have found a profitable strategy.