Forex Trading

Your First Trade (Part1)- Install MT4

2012-04-08T12:33:00.001-07:00

Due to heavy work load i was not able to update my blog from a long time. I know all are looking forward to learn Forex. When I was Learning Forex I also needed to learn how to trade at very beginning before i learn basics of Forex trading
I know you all need to do a trade even before we recognize currency pairs LOL
So Lets start our first step of trade on Forex market (this is not the first step of learning)
first you need a Trading platform to trade so I use MT4 here there are many platforms but personally i like MT4
Go toward below link and download MT4 and install it to your computer

MT4 Download

Click on Free Download

Then Double click exe file
click on Run

Select English

Tick on Yes I agree

Now we can start with simple trading with MT4 with next post

I KINDLY ADVICE YOU ALL IF YOU ARE NEW TO FOREX DONT OPEN REAL ACCOUNT WITHOUT PROPER KNOWLEDGE. DO ANY THING WITH VIRTUAL MONEY ON YOUR DEMO ACCOUNT. OPEN ANY NUMBER OF DEMOS AND TRADE UNTIL YOU GET GOOD PRACTICE

See you with next post be ready by installing MT4

Let's Learn Forex Trading(Lesson 1)

2012-03-10T19:14:00.000-08:00

Lot of people who try to learn money online are trying to make money using Forex Trading

Forex trading is very interesting topic between online money makers.

But the problem is there is no any way to learn about Forex trading step by step.

So with this blog I am trying to post Forex Trading lessons step by step.
Then You will learn every thing about Forex market and how to trade on Forex market practically.

But I must say that even the Forex market is Highly Profitable market this is High risky so you must keep in mind not to open real accounts without having proper knowledge and practice in Forex market. So you should learn these lessons very carefully.

This blog is not only for beginners This will help to all the people who trade in Forex market. That will help you to improve your trading skills.

You can subscribe this blog, Then you can receive new posts by E-mail. So Let's Start to Learn Forex Trading and about Forex Market from our next blog post

You can comment about posts and ask your questions

Thanx

What is Forex

2012-03-05T04:26:00.001-08:00

Every one who travels among countries or who work in other country and send money to their own country participate in Forex market without knowing that they are involving in Forex trading. When you get in to other country you have to change your local currency in to currency which is use in that country according to current exchange rate. This is the thing happen in Forex market also.

Forex market is the largest financial market in the world, Trade volume is 4Trillion per day
Forex market is 5/24 market which means this is open in all 5 week days and open in 24 hours. Forex market close in weekends.
So why are we still waiting to learn how to trade in Forex market. This blog will help you to learn how to trade in Forex market practically. It is high profitable and high risky. So I am advising you to not to open real account without having good knowledge about Forex trading. 1st lets know some basics and background of Forex market then we will able to start a Demo account and start to trade practically.after practicing with demo accounts we can move to real accounts and start trading money in largest financial market of the world. But keep in mind risk is there always.

Never try with large amount of money. First start with little money then you will learn Forex market well and with the experience you will earn lot. But always risk is there so money can loss in the market. The truth is we get profits from the money others loss. Money you loss is the profit others get, profit you get is the money loss by others.

image- babypips.com

Top 10 Forex Brokers

2012-02-29T18:22:00.001-08:00

Before we move to other lessons. Let's just look at who are the top 10 forex brokers in the market. I will teach practical forex trading, money management in future lessons this is just to get a knowledge.

FOREX CLUB
They allow 4 different platforms for users to trade based on their experience.They include popular MT (Meta Trader) also

ETORO
The most importent thing is they allow to withdraw with Money Booker not only Credit Cards

EASY FOREX

very accurate and efficient. But small problems are there also

FOREX YARD
E-mail daily information and it is very helpful and help to make write trade at write time

FXCM
Their platform is not much clear but good broker anyway

FXPRO
They offer forex, future and stock in single MT4 platform

GFT FOREX
Can trade in different platforms simultaniously

INTERBANK FX

MARKETIVA

OANDA

There is a major problem of disconnecting

This is a very brief one and hope to publish reviews about brokers in future.

2.Currency Pairs in Forex Trading

2012-01-16T06:29:00.001-08:00

We welcome all of you who came to this Forex Trading Lesson series and I will able to teach you Fx trading simply from the beginning. As I mentioned before this article series will help you to learn Forex trading from the beginning.This will not only to get theoretical knowledge you will learn how to trade practically.
We should have two currency types to trade in Forex market.
So we call them Currency pairs

HOW WE REPRESENT CURRENCIES

In forex market we use USD for USA Dollars LKR for Lanka Rupees like wise for each and every currency there is representative letters.
As beginners we usually trade using USD and EUR ( Euro)

HOW WE REPRESENT CURRENCY PAIRS IN FX MARKET

Always in FX market Currencies shown as below

USD/EUR = 1.3402

This shows how much EUR (2nd Currency) you need to buy 1 USD (1st currency)

So above one shows we need 1.3402 EUR to buy 1 USD
Now lets take some examples, if you know the rates of currency pairs you will surely can calculate for any amount
USD/EUR=1.3402
How much USD you can get for EUR 500 ?
USD= 500/1.3402
Answer = 373 USD

USD/EUR = 1.4056 How much EUR you can get for 100USD
EUR= 1.4056 x 100
140.56 EUR

So you know how to calculate them. If you have any problem ask them using comment section

MAJOR CURRENCIES IN FX MARKET

1. United State Dollar (USD)
2. Euro (EUR)
3. Great Britain Pounds (GBP)
4. Japanese Yen
5. Switzerland Frank
6. Canadian Doller
7. Australian Doller
8. New Zealand  Doller

Among these 8 First five is the most using Currencies

1. INTRODUCTION TO FX MARKET

2012-01-16T06:28:00.001-08:00

This is the first lesson of Forex trading. In future I will able to write about practical FX trading. Even for a beginner if you wish to receive them subscribe my blog.foreign exchange market is called Fx or Forex in short, so trading in foreign exchange market is called Fx trading or Forex trading. Actually this is the most fast and exciting market. But in the past large financial institutions, Corporations, Central banks lead this foreign exchange market mainly and also so much wealthy individuals only involve in this. But today everything has change because of internet. After the emergence of internet every individual or any one who has good knowledge about Fx trading can buy and sell currencies by using only one mouse click. It became so simple because of internet so anyone who has a high speed internet connection and a computer. But most important thing is trader should have good knowledge about this fx market. In fx market daily currency fluctuation are usually very small. Most currency pairs move less than one cent per day. As well as in this Fx market leverage is high as 250:1 sometimes this kind of higher leverages are very much risky. Because of extreme liquidity and higher leverage this became ideal place for lot of traders. Positions can be held for months and also can be closed after few minutes. Forex market provides lot of opportunities for investors or traders who are new. This is just a basic knowledge about what is this fx market I’ll come with another post which introduce more about this. Read every post in this blog about fx trading to gather knowledge on this.In foreign exchange market currencies are traded. Currencies are important to any one because currencies needed to exchange to conduct foreign trades and business. If you are living in USA and want to buy some vehicles from Japan you or the company which buy vehicles from Japan have to pay to Japan with Japanese Yen. As well as when travelling if American traveler travel to another country in Europe that person should have to pay with Euro not with USD inside that country because USD is not locally acceptable in European Countries.

Usually currencies need to change for day today activities this is the main reason for fx market becomes the largest financial market in the world.
And there is no central market place for currency trading in Fx market. In fx market Usually all the transactions done electronically through computer networks. Using computer networks all transactions done over the traders in all over the world. This market open all the 24 hours of the day, Five and a half days per week and trading done in major financial centers of London New York Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney almost all the time zones involve in this market. So When this end in USA new one start in Hong Kong so FX market never sleep never stop active in every 24 hours of the day. So price quotes changes continuously