Saturday, July 6, 2013
BASICS OF FOREX TRADING
FOREX
1) EXCHANGE OF
A CURRENCY AGAINST ANOTHER
2) BUYING AND
SELLING OF CURRENCIE
3) BUYING INTO
AN ECONOMY OR SELLING OUT OR OFF AN
ECONOMY
buying and selling transaction
CURRENCY PAIR
GBP/USD: 1.550
USD/NGR: 160
EUR/USD
USD/CAD
BUY/SELL
FOREX BROKERS
ACCOUNTS REQUIRED IN FOREX TRADING
1) LOCAL
ACCOUNT: SAVINGS,DOMICILIARY, ONLINE ACCOUNTS
2) BROKERS
ACCOUNT
A)
DEMO/PRACTICE ACCOUNT
B)
LIVE/REAL/TRADING ACCOUNT
FOREX MARKET
ANALYSIS
GBP/USD :
1.550
1)
FUNDAMENTAL ANALYSIS( NEWS)
2)
TECHNICAL ANALYSIS (GRAPHS/CHARTS)
SEVEN STEPS INVOLVED IN FOREX
1) ACCESS TO A
COMPUTER CONNECTED TO THE INTERNET
2) CHOOSE A
BROKER
3) INSTALL THE
TRADING PLATFORM OF YOUR BROKER
4) OPEN A DEMO
ACCOUNT
5) CHART
ANALYSIS
6) PLACING OF
ORDER ( BUY/SELL)
7) CLOSING OF
ORDER
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