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How to Start Trading Forex

How to start playing Forex Creating a forex account .... now there is a broker who gives $ 5 without a deposit You could say this stage is the forex register stage at the broker to create a forex account / forex account which will be used to accommodate your capital funds. play forex trading online

Install metatrader

What is metatrader? Metatrader is a software where you can do forex transactions or a place to play forex. So this metatrader must first be installed to a PC, laptop, tablet or smartphone which will later be used for forex trading.

Deposit

After the forex account is finished, the metatrader is installed, it's time to fill the forex account with capital. This process of depositing capital is called a deposit. You can deposit using a credit card, transfer using mobile banking or cash deposit, deposit with Skrill or Fasapay.

Forex Transactions

This is the essence of playing forex, namely making transactions / trading. This is where your daily activities in playing forex are for profit.

Where to start if you want to play forex? Of course you have to register first. Please see the guide on the page: a good forex broker reference

Please follow all the steps on the forex list page, there is a complete guide to the stage of making a deposit. After the forex account is finished and has been filled with capital, then move on to the next stage, namely the stage of playing forex itself.

Regarding how to trade or how to play forex, this is the picture:

First, you must know that in playing forex, you are profitable if:

– Make a BUY transaction and the price goes up, then you close the transaction

– Make a SELL transaction and the price drops, then you close the transaction

So in playing forex, we can profit from prices that move up and prices that move down, as long as the type of transaction we do is right, whether it's BUY or SELL.

Take a look, that in playing forex there are 3 activities that are carried out, namely:

Making Transactions

Waiting for the price to go up or down

Close transaction

Let's discuss one by one so that the forex playing activities that you do can be profitable.

Forex Trading Basics and Ways

Basically playing forex is predicting a currency pair that later its value will go up or down. And the confidence from that prediction we realize in opening a trading position (open position).

In forex there are only 2 types of open positions. That is

1. BUY/BUY/LONG : Predict the value of the pair will go up

2. SELL/SELL/SHORT : Predict the value of the pair will DOWN

For more details, see the illustration below:

Handoko entered the EUR/USD BUY position at 1.3000, after a certain time

Handoko CLOSE at 1.3064 then Handoko gains 64 pips

If Handoko CLOSE at 1,250 then Handoko loses 50 pips

Erik entered the GBP/USD SELL position at 1,500, after a certain time

Erik CLOSE at 1,400 then Erik gets a profit of 100 pips

If Erik CLOSE at 1.650 then Erik loses 150 pips

Notes:

- Close means to close an ongoing or open trade.

- Pip is the smallest unit in forex. The value and meaning of PIPS