For those of you who still lay about the world of forex, of course, ask questions, how to play forex trading it? The answer is easy. You can first visit IC Markets Forex broker to find the best forex broker.
Before entering the trading, we explain first about supporting infrastructure. To be able to trade online forex required only PC computer and Internet connection. In addition, it is also necessary forex trading platform software that can be downloaded and used for free. Where can I get the software to play forex? Of course from brokers who will connect you as a trader to the forex market. Play forex can be done anytime because the time and hours of forex trading take place 24 hours from Monday to Friday.
Basically play forex is done by looking at market conditions, then predict whether the value of a currency pair will be up or down. Prediction is then executed by opening a trading position (open position).
In forex, there are only 2 types of open positions. That is
1. BUY / LONG: The position of forex trading opened if the pair is predicted to be UP
2. SELL / SHORT: The position of forex trading opened if the value of the pair is predicted to be DOWN
There are various reasons why many people are now eyeing forex trading as an additional source of income as well as the main job. Some advantages of online forex trading compared to trading or other investments are:
1. Forex Trading Can Be Done Anywhere
Current forex transactions can be done online, with computers, laptops, tablets, or smartphones, with just a click on the trading software already provided by the broker. Plus the speed and cost of the internet increasingly cheaper day, the overall cost of online forex trading can be very small and affordable. This is the advantage of forex trading number one.
2. Forex Trading Presents Two-Way Advantage Opportunities.
Forex trading is done in a currency pair. For example in EUR / USD pair: “buy” transaction means buying Euro while selling US Dollars, while “sell” transaction means selling Euro while buying US Dollar. When we expect the Euro to weaken and the USD strengthens, then the trader will open a trading position “sell”. On the contrary, when expecting the Euro to strengthen with USD weakening, then the trader will open a trading position “buy”. Thus, the forex trader can benefit, both when a currency weakens and strengthens.