Is forex gambling?
Will you join and make money at the largest financial market in the world? Try your hand at the foreign exchange (Forex).
Currency trading one one realistic activity to earn big money and get rich, but you have to accept some degree of risk.
Currency is a payment method that is used in one or many countries. In the U.S., those known U.S. dollars (USD), in a number of EU countries have the euro (EUR) etc.
It is possible to make a profit on currency exchange. Such trading is often referred to as currency speculation, forex trading, or simply currency.
Simply by speculative currency trading are you naturally do not switch to cash. It can do well if you are going to travel, but not if your goal is to make money on the fluctuations in exchange rates. Do you use the bank to trade foreign exchange, it quickly becomes very expensive. Therefore, you are a currency broker who takes charge on the exchange.
Currency Broker - your main partner
A Forex broker can give you everything you need to trade currencies over the internet. What you need though is capital to act (ie own money). Currency broker provides everything else - a suitable value platform that you can use for foreign exchange trading. Analysis and expert analysis are also offered by professional Forex brokers.
What currency platform you choose can be difficult to decide. A cheap and safe currency broker that is easy to use is easyMarkets.
easyMarkets is suitable for both amateur and professional traders. Beginners are trained and need no knowledge in advance to get started. Here are the tools and expert analysis you need to find out what is most profitable to trade. Free real-time quotes, they also.
To begin trading currencies over the internet you must create a client trading account. This account is used exclusively for the trading of currencies. Do you use easyMarkets you mentioned a complete introduction to currency trading.
Forex does not fit all
To engage in foreign exchange trading you must be hungry to make money, and you must be prepared to learn. It is important to maintain focus and keep your tongue right in the mouth. Furthermore, do not be afraid to risk their own money.
The best currency trading is that you can start small. You do not have to get rich first, and then start with foreign exchange trading afterwards. Do you have a 500, - to 1.000, - NOK disposal is actually enough to get started. Some choose to start with a lot more, even if they do not have experience.
Is it possible to get rich in forex trading? Definitely. You can earn the foreign exchange market in good times as well as the financial crisis periods. The market's direction is negligible. The only thing that matters is that you buy cheap and sell for more. Then they finally rich.
Many people have become very rich in foreign exchange trading. You can lose or earn big money buying and selling currencies. If you can tolerate some risk, foreign exchange trading definitely worth trying.
Foreign exchange market is the largest financial market in the world
Forex stands for Foreign Exchange and is the largest financial market in the world. That means for you that it's never a problem to buy or get rid of a currency. There is always someone who will buy and sell - and this is called liquidity. Currency is very easily transferable, and you risk not being seated inside with a currency.
There is always an opportunity to make money on the currency. Exchange rates are always moving, they go up and down. A relatively safe strategy we have used is to buy euros when it is historically low, and buy again at higher levels. There will win every time. Daytrading is also excellent profit opportunities.
How to make money on the currency?
It's just a way to make money on the currency, and that is to buy cheap and then sell for more than you bought for.It is easy to learn the basics of foreign exchange trading, and so Once you understand this, you have the opportunity to make money.
It is usually a much better idea to try and earn from daytrading rather than invest for the long haul. Long term investments is to hold a position and wait until you finally achieve profit. It takes a lot before you buy currency at a historic low point. If you buy at a time when the investment goes bad, you can wait and the price will almost always come back to the level you purchased, and further above the level you bought at giving you an opportunity to make money.
How much money you earn is a result of how much the exchange rate goes up, and if you have the gear investment. Gearing, which is also called " leverage " or trade on margin, we come back to.
How to start forex trading
Currency trading is much easier than many people think. It is both cheap and reasonable compared to traditional gambling.
Actual trading takes place exclusively via the internet. Most companies that offer foreign exchange services are licensed by the financial authorities, and security is extremely good.
Need large amount of money to start, and unlike traditional stock trading you do not have to go through bureaucratic procedures before you begin. Fill out your personal information in a registration form and after a few mouse clicks you started.
You can trade currencies over the internet completely safe:
- easyMarkets is popular with amateurs as well as professional currency speculators. You get the opportunity to trade a variety of currency pairs, including the dollar, euro, pound, yen, and many more currencies. New clients get the help of a guide the first time and you get a thorough introduction.
- In britain AvaTrade is the dominant forex brokerage service.
Listing above, we have included all exchange services that are worth knowing about and having a good reputation. There are a few more, but these are the most used currency services. Common to the above services is that they are well established in the market, has a positive reputation, and they all have international recognition and is licensed by the EU or other financial authorities.
Services over are safe to use. Some may be hesitant to put greater amounts in the above currency brokers. Our comment on this is that these services are well established companies that have spent years to happy customers, and they are all very vulnerable to negative coverage. Therefore, they will do their utmost to ensure that you as the client will be satisfied.
How can you know which currency to buy?
This is really the core of all foreign exchange transactions! No one knows for sure of course what currency will go up or down in the next minutes, hours, days or weeks. The future is unknown for everyone, whether you are a world leading analyst or a newbie in forex trading.
Although no one knows anything about the future, it is possible to say something about the likely development. There is always an opportunity to make money in the foreign exchange market. The trick is to buy and sell at the right time.
Secret to a good currency:
You can analyze the fundamentals in perpetuity. Currency trading can be made into something incredibly complicated or simple. For example, if unemployment in the EU goes down (ie more people are at work), so it will be a strength for the euro. It is just one of many thousands of factors that affect the exchange rate.
The good news is that you can ignore all fundamental factors. You need not be an MBA, and you do not perform detailed analysis to trade currencies.
All you need to do is forget all the fundamentals. Then focus only on the technical. Were you scared or relieved now? Hopefully you were relieved of technical analysis is much easier than what it sounds like.
We know nothing about the future of a currency pair, but we know all we need to know about the past. Technical analysis is about looking at kurshitorikk of the past, and use mathematical models to predict future developments so that we can make money on foreign exchange currency buying and selling. This may sound difficult, but it is really easy. Good analysis tools are all you need, and the mathematical models that underlie buy and sell signals are not something you need to know about.
Technical analysis is really easy if you spend a few minutes to understand this. easyMarkets as we spend a great introduction to technical analysis, and they also have all the necessary analysis.
Once you learn technical analysis is as easy as being pedestrian in a traffic light: Red light means stop and green means go. Easier it may not be.
Currency trading is easy
Currency trading is easy if you use our principles of technical analysis. Buy and sell green (or weaned sales) in red. Technical tools makes foreign exchange trading simply. The most important thing is to find a strategy and follow it.
It is relatively easy to get started with forex trading. You can earn money fast, but of course you can also go on a bang. It is important to keep your tongue right in her mouth, and then it is definitely possible to both make money and get rich on this.
Best way to learn is by getting enough experience. You can shop with loose change both eToro and easyMarkets, and if you lose it need not be more than what you would otherwise have opted for a lottery ticket. Unlike stock trading, there is no brokerage fees, and therefore there is nothing wrong to start small.
If you really want to be careful, you can also use the virtual " play money", a quote that exist both at easyMarkets and eToro. Here you are not using your own money, and the trade in value is then only a simulation. Useful if you want a very cautious start. This can be a great way of learning. The only drawback to this is that it is ergelig if you actually " make money " - to use the worthless play money to shop for, so you will never earn real money.
As you gain experience and skills to trade currencies, you can start with real money. What you do then is to open a client with as easyMarkets and eToro, and then you begin to shop.
Forex gives you the opportunity to earn real money and it is also very educational. You have skills that are very valuable.
Moreover, the currency hilarious. The money you earn and the wealth to build, is just in addition to everything else. Certainly one should not forget the risks of currency either, after all it is possible to lose money on this as well. That's why you should gradually build up experience and as you become more proficient, you can increase your exposure in the foreign exchange market. Get become rich overnight, and it comes in currency speculation too.
Margin Trading (Leverage) - A short-cut to wealth?
To trade currencies for speculative purposes involves risk. As if that were not enough, it is possible to expose themselves to even greater risk. Why? Because you then also have the opportunity to earn much more money! As is known, there is a correlation between level of risk and potential return. It is no secret that if you want to be rich, well then you must dare to bet a little too.
Let's say you have a thousand patch that you want to invest. This small amount of money can give you the opportunity to expose you to 100 000 in the currency market. That is 100 times as much as what you actually invest.
If the exchange rate goes up by 2.8 %, you can get a return on incredible 280%.
How is this possible? It is called margin trading, or " leverage." To explain, take the example where you insert a thousand dollars. Normally, at 2.8% would benefit dreary 28 million. Do you have a leverage of 100 (expressed 1:100) will instead earn 28,000 dollars.
Had your investment was NOK 100,000 you would have earned 2.8 million dollars, although the change of course was only 2.8 %.
It 's not every day that one is able to transform in 1000 to NOK 28,000 million every day, even for the experts, this is normal. Margin trading and therefore greater potential for loss but also greater return on investment is the right way.
easyMarkets will give you a leverage of 1:100 x. If you think this sounds interesting, we recommend use of the kompentansen which is available at easyMarkets, here you get a free guidance and support when you register as a client.
Currency trading services recommended
There are several good services for foreign exchange trading, and it's hard to recommend just one. Here is whatever two popular services that make it easy to start with forex:
- eToro - a service suitable for beginners. Try eToro.
- Easy- Forex - for beginners as well as professionals. Go to easyMarkets.
eToro is a great way to invest. This is a social trading service suitable for beginners and professionals alike. They have a user friendly interface that makes trading a child's play! It's the best social investment network online.