What is Forex? Let's start today
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The safest boat is when parked in a harbor.
But people build boats not for that reason.
The biggest risk is to 3% who own the property of 7 billion people worldwide.
But people build boats not for that reason.
The biggest risk is to 3% who own the property of 7 billion people worldwide.
Today I will introduce to you how to get money from hundreds of billions of dollars. The difference between the rich and the poor is their overcoming. Nobody naturally gets rich, they all go through a very difficult start, that's themselves.
1. Introduction
- FOREX also known as FOREX is the world's largest financial market, hundreds of trillions of dollars are traded and exchanged every day. The market is happening by major currency banks around the world and traders like us here.
- Opening hours: According to Vietnam time, Market transactions 24/5 in the week.
+ From 04:05 Monday to 03:50 Saturday - Summer.
+ From 05:05 Monday to 04:50 Saturday - Winter.
- FOREX trading is buying / selling buy and exchanging currency pairs together. By the current current price, through a broker or bank that does this transaction.
For example: EUR / USD has the current exchange rate of 1.18503
- You consider the market up (up), you actually issue MUA (buy) with volume 0.01
==> So you have traded EUR / USD currency pair.
2. How to trade.
Each individual will have their own judgment that the market will UP or DOWN. Based on that, we will sell or BUY.
Method 1: Self-trading.
This is the most widely applied method, when you have knowledge of the market, have analytical knowledge .... then you will trade and make money on this market yourself.
Method 2: Use a robot
On MT4 software supports a very special feature, which is auto trading (Auto trading). You have ROBOT, maybe you buy from someone else, or you can program it by yourself. Then you, let ROBOT run and allow it to automatically trade. And generate profits for yourself.
With this method you do not need to monitor the market, you do not need to trade, even you do not need any knowledge to make money. BUT you will probably lose a bit of money to buy ROBOT.
Method 3: Copy the command.
This is the connection of your account through the mql5 server to copy the commands of the experts, or someone you realize that this person has good results. BUT you will probably lose an expense for that person.
3. How to calculate profit
The profit is the difference between the buying price and the selling price when you have done enough: The order to open an order and close the order of a certain transaction. I guide you to calculate the profit on the standard account.
Example: EUR / USD pair
- You execute BUY order (buy) at price of 1.18250 with volume of 0.2 lots. So you opened a BUY order for EUR / USD pair. You are buying, you need a price higher than 1.18250 you will be profitable.
After 2 hours of EUR / USD exchange rate and you close the BUYER order at 1.18750.
So the difference in pips will be: 1.18750 - 1.18250 = 750 - 250 = 500 pips.
===> So how much do you get: 500 x 0.2 = $ 100.
Interested
