One of the easy ways to earn money is to learn the laws of a "virtual" economy and actively
trade on the exchange. However, in the process of trade there are overhead costs, which are
insignificant in the conduct of major transactions.
If the size of the transaction is small, it is extremely difficult to obtain income even with the use
of the correct strategy. In the absence of significant capital in the form of free funds, the loss of
which will not lead to personal or family catastrophe, as well as knowledge of the laws of the
financial market and relevant experience, you better rely on specialists who will help you get
training, adapt to the exchange elements, assess your abilities for a new business.
To make an exchange game for small players accessible and to attract additional capital, brokers
offer individuals various financial schemes that facilitate participation in inexpensive traders in
currency trading. Despite the fact that currency speculation has long been an integral part of the
world financial system, in our country the legislation in this sphere is not developed enough,
therefore there are many "pitfalls" and high risks associated not only with the objective
instability of the markets, but also with the unfairness of brokers, which should be chosen with
How to choose a broker and open an account?
The wrong choice of a broker that provides access to the international currency market Forex and
provides you with various services is a frequent cause of disappointment for beginning traders.
Before applying to a brokerage office, which are now quite variable, you need to get
authoritative information about their activities. Before making an agreement with a broker,
special attention must be paid to the conditions regarding the procedure for the return of funds
and the execution of your orders.
Make sure that the commission of the broker is not too high or suspiciously low, and methods of
withdrawing funds are convenient for you. On-line platforms for playing Forex allow the initial
opening of a training demo account. Demo account provides an opportunity in real trading
conditions to assess their abilities for this type of activity, get to know the elements of the
financial market live, gain necessary experience before opening a real account.
Choosing a strategy
The behavior of each trader on the exchange is strictly individual, however, there are certain
constants, both in human psychology and in the laws of the financial market, which allow you to
determine certain patterns of behavior on the stock exchange. You can play on Forex in different
ways. The most dangerous and unjustified strategy is the imitation of the actions of other traders
in conditions of uncertainty in the market. Some choose a strategy in the form of a game on
short-term price changes. Positional traders are guided by general market considerations about
the possible impact of economic and political news on the financial market and choose the
appropriate action plan.
Software tools for Forex trading
In order to help Forex traders, many special computer programs have been created. The design is
made to teach the basics of Forex trading, analyze market trends, and automatically manage
trade. These programs are especially in demand by newcomers. Electronic trading systems
allow: 24 hours a day to participate in bidding; choose the optimal solution in a difficult situation
with the help of numerous indicators and trade advisors; clearly follow the planned strategy
thanks to the application programs in the form of robots-experts, allowing to conduct trades in a
semi-automatic or automatic mode.