2.2.Pervye steps
In trading on Forex, as in any other case, it all starts with the first step, which we will now try to do. For a start it would be nice to choose a broker . But we should not treated at the first stage to take it seriously, as the first step involves opening a demo account. As a general rule, demo accounts provided by all brokers. The beauty of these accounts is that you are given the opportunity to participate in the market, with real quotes, without that you have invested money. This account is virtual, that is, funds that are available to you on it, they do not really exist. And those transactions that you perform a non-existent funds also will not be exposed to the market. The main idea of demo accounts is to give an opportunity to study trade and acquire the necessary experience in the real world, without the risk of losing money. When you open a demo account will be useful to specify the amount of money you plan to enter initially for trading. This will allow accustomed to estimate possible profits and compare it with the existing risks.
Choosing the right broker you need to download from its official website trading platform. Most brokers use the trading platform MetaTrader4 (MT4), so we'll use it as training. This platform has all the tools needed to trade on the exchange.
So, what do we have? Trading terminal and open a Live account. All we need is to try to open its first position, or set aside his first order.
To do this, open the schedule with which we are interested currency pair, let it be the EURUSD (Euro / US dollar). In the top menu, find the item "View" and then in the drop list, select the "market survey". On the next panel review of the available trading market displayed a pair of them streamed course ask and bid. Right-click on the currency, we are interested in and select "Chart Window". In the window we see the dynamics of the sequence represented by bars. Hovering the mouse cursor on each bar, we can see evidence of this bar: open, close, high, low, volume.
To open an order you must press F9. Window that appears is none other than the application form for opening positions. The line "character" may be of interest to us to choose a pair, but since the form was due to the graphics EURUSD, then this pair will be displayed. "Volume" - here you specify the amount of the transaction, which you intend to accomplish. Deal with the volume of 1 lot, is a bargain at U.S. $ 100 000. In the line "Stop Loss" is indicated when the level that your position will be closed automatically, with it, will close with a loss. In other words in this column indicates the price that you think is acceptable to you about the risks. "Take Profit" - here you specify the price at which you would like to fix their profit . So, on the basis of the above when opening a position buy, stop loss should be below the current price, and take profit later. To sell products all the way around, namely, stop-loss above the sales price, take profit below the selling price. Filling these two lines is not mandatory, but in my experience I can say that they are very important to limit losses.
Now the only thing to do is to click buy or sell.
Congratulations, you opened your first position. Now the only thing left to do is wait until your expectations will be fulfilled or not fulfilled, but in both cases, the position must be closed.
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