Forex trading requires accurate and comprehensive knowledge of all the data affecting the financial market with a general knowledge of trading technology in light of the technological progress made by the Internet before making any decision that you can make a profit or lose. Therefore, each Bitcoin Code trader should look at the following in order to enrich his knowledge of Forex:
Make money quickly
Becoming a millionaire quickly is impossible, but if you have this idea and motivated you to do forex trading, do not give it! Fake profit is not guaranteed in Forex trading because of many unknown and price-sensitive data, and many traders who intend to make money easily through Forex are more likely to make mistakes and fall into the Forex trap. Forex is like anything else that requires a lot of effort, patience and a lot of discipline. Anyone who tells you the opposite, just tries to sell you something or to deceive you.
Forex Journey is not an award
You should be aware that your journey with Forex is the foundation, so do not try to focus on profit, but always focus on the journey rather than on the prize. Focusing on the journey allows you to choose your own systems and see if you are on track in the long term. You can control yourself in both profit and loss cases. Forex is much more than just getting money or making profits in trading. It is through personal lessons available for all levels of trading that enable you to know the assets and how to trade and thus help you create opportunities for profit.
Forex is not something that can be learned once as a university degree. It is a long path that requires continuous and constant learning to keep abreast of developments in the market in order to become familiar with all new developments in market policy and make a right decision to make profits.
Identify tools that facilitate trading
In order to facilitate your trading in Forex, you have to look at the modern tools that help you to trade quickly and effortlessly instead of using traditional techniques that require a lot of time in the presence of rapid fluctuations in the markets, which will reduce your chances of achieving profits and the necessary information. You can learn about these new online help tools and Forex companies that provide comprehensive courses such as Alpari ME. Leading in this field.
Money available for trading
Many Bitcoin Code traders are caught in the trap of Forex because they believe that it will bring them a quick fortune and they do not realize that Forex can cause them to lose all their money and its results are negative in terms of their impact on their social relationship because of their depression at loss. Therefore, traders should pay careful attention to these things and allocate a certain amount of trading they are able to afford at the loss.
In order to enter the Forex market, it is important to understand the terms used in it. Margin and leverage are two terms that will appear each time you trade and we will consider these terms and try to understand what they mean for your trades.
Margin is the amount of money you need to open a position with the broker. Margin is not a cost or fee, but money from your account acts as a “deposit of goodwill” used by the mediator to open the situation. Margin is usually expressed as a percentage of the total amount of the position. Margin size varies, but may be 0.25%, 0.5%, 1%, or 2%. The amount of margin depends on the trading volume, so that the larger the volume, the margin requirements will also increase. Understanding what margin means will help you understand many of the corrections surrounding your account that are used to describe the amount of money available in your trading account. How much of this money is yours, but you can not use it because it is reserved by the broker to keep any position of your positions open and how much money It’s still available to you from your account so you can use it in new settings.
The leverage comes because of the margin. Lifting is a loan provided by the broker and the trader can control larger trades. The leverage is offered at rates like 100: 1, which means that the broker will give you 100 times the size of the capital. So, if the trader is spending $ 1,000, he will actually control $ 100,000. If the trade rises to $ 101,000, then the trader has earned $ 1000 or 100% of the profits. On the other hand, if they lose $ 1,000, then they will have lost 100%. In other words, leverage can lead to profit potential, as well as increase the possibility of losses so that the trader needs to control the leverage based on their trading strategy and the original size of the account.
What is the relationship between margin and leverage
In the previous example, where the Bitcoin Code broker offers a leverage at 100: 1, if the trader controls $ 100,000, by depositing $ 1,000, the $ 1,000 account is margin. Therefore, margin is the amount of deposit or amount that must be used in order to use the leverage. Traders can generally determine the maximum leverage they can use based on the margin required by the broker. The higher the margin, the lower leverage, for example, the margin of 5% means that leverage will be 20: 1, margin 1%, the leverage will be 100: 1, margin 0.25%, the leverage will be 400: 1 .
The broker usually uses the margin and aggregates it with other trader margins to create a “super margin deposit” that enables it to place trades in the bank network.