Forex market is regarded to be one of the most potential online markets for people around the world but has recently been notorious for its complicated facets. In fact, a plethora of traders, especially new ones, fail to make profits when it comes to this market. The only reason behind is that they do not have a careful preparation before starting their trading career. In order to sucessfully make money in forex, it requires us to acquireBasically, forex market is an online channel that the trading currencies are bought and sold by traders. Its obvious that traders can really make good profit when the rate of their currencies is higher than the rate of buying.In addition, it can be noted that prices of trading currencies are normally quoted according to 4 decimal places. Its simply because theres nearly no difference among these spreads. Its highly recommended that you had better ruminate on your intended currencies before making final decision. In this profitable market, we always have to face difficulties and risks.It is in fact that people always wonder how to deeply understand some terms in forex market. It would be of better use to all traders if they know those terms with the aim of developing. Its understandable that we can easily make profits if we have a good insight into every aspects of the market.When we make a trade in progress, we should call it position. All people want to sell their currencies with higher price when it comes to an online trading platform. When they purchased a currency pairs and they expect their currencies to go up, we call it long position. By contrast, if a trader expects to sell their currencies hoping it to go down and later on this trader will buy it with lower price. In this case, we call it short position.Unquestionably, the ability to reading forex charts is one of the most vital aspects ofbecause it decides whether you will able to make profits. In fact, the first kind of chart is represented as a candlestick, which has three points. The very first point of the chart is wick, which will tell you the high to low price. The two other points are close and open.The second chart type that we should focus on is bar chart, which expresses close, open, high and low prices of currency pairs. The trading range and the horizontal lines will be represented on the left and right sides of the chart. The main function of bar chart is to tell traders the increase and decrease of the prices.Line chart is considered to be the easiest one for new traders. It would be a real cinch for new traders to follow the movement of prices of currencies when it comes to this type of chart.Due to the availability of materials on the internet, traders at the moment can easily obtain comprehensive courses or lessons, which enables them to develop their traing skills. In addition, traders can also have a chance to employ useful tools extending from trading signals to profit calculators.In one word, it would be of really importance for new traders to understand every aspect of forex trading. In order to prepare for, its a must for beginners to dissect and synthesize sterling materials and learn from experienced ones.HOW TO OPEN A FOREX DEMO ACCOUNT METATRADER 4
because of several important factors before investing real money. A trial account is very helpful for traders to look for the brokers and account that match their trading styles.There are about 85% of traders are losing their money everyday without making any profit. The main reason is that many of them want to start trading at the first attempt. It is like you learn to get driving license, you are supposed to drive a virtual car before getting the license and drive real car. It is not interesting part at first because you are eager to drive your real car. This is why traders get into problems and lose money. They need to know theAlmost traders can realise the fact that their trading effectiveness is different when changing from demo account tos real accounts. The matter of mental issues get involved seriously when traders making their decision with real money. They tend to get worried easier and make wrong decision such as close the position too soon or too late.Besides, different trading environments provide different experience when changing from demo accounts to real accounts. Like, the slightly different trading processing may produce the difference in trading result.
Firstly, when trading with trial accounts such as, you are not influenced by mental pressures and stresses. It is like a game and you really enjoy playing it. But only when trading with your real money, you are facing with a lot of real stresses and tension of losing real money.Differences in spreads and quotes: almost forex brokers provide the same quotes and spreads in trial accounts and real accounts. But remember that it is not always the case, sometimes, you will see your trading results may higher than the actual results.
The application of stop loss instruments: when practising with trial account, almost traders make stop loss orders exactly at the price they have set before opening their positions. When using real account with real money, they are not always like this, traders can lose more because the price can slip over the set-price.Is is useful to start trading with a demo account?It is a considerable and crucial differences between trial account and the real one. To be frank, if you are a newbie to forex trading, you must start with a trial regardless everything brokers tell you. You need time to practice and learn how to trade without panic and find out your trading styles.
is like taking a course. You must spend time and money to become skillful trader and earn money by what you have learned. Many have learned thismuch more expensive because they start with real money and think that forex trading is an easy way to make profits. Therefore, pay first and then make more money is better than lose your money at the first steps.
Everything has its own advantages and disadvantages, and so does forex trading. Learning theis useful and necessary for traders to find an attractive and suitable broker to trade with. In case you would like to join the forex market, you should not miss this article.The pros of forex trading is the accessibility of the market, fast profit, and low trading cost. Meanwhile, the disadvantages are the volatility of the market, scammers, and risk.There exist three most highlighted strengths of forex trading which are accessibility, fast returns and fewer fees and commissions.
Forex market is said to be one of the most accessible markets for traders. Each forex account can be opened within one to three days, and it just takes 50 to start a trading. Also, you can trade online and use the trading platforms to get access to real-time price charts, tools, news, market pricing as well as strategies. In addition, forex market is available 24/5 per week. Thus, you dont need to worry that your schedules wont fit the forex market timetable.Not only moving fast and offering deep liquidity, forex market also has some other great characteristics. It provides traders with higher leverage compared to other markets, which means they can get faster returns instead of waiting for a long time to get their returns.If traders trade in equities, bonds, mutual funds or some other instruments, it is not surprised that they get higher fees and commissions. Hence, I suggest that they should change into forex trading so that they can get softer fees, as the bid-ask spread will determine the forex costs and make it transparent.
Besides the strengths, there also exist some weaknesses in forex trading.Instability is not a new term in both general markets and forex market. Dont hope to get profits in short time or you will get unexpected volatility. Especially in forex trading, the price of the currencies are affected every minute by the current conditions of the world economy. You have to have a lot of experience in order to get used to the volatility of this market.As forex market is over-the-counter, it is better to make a due-diligence investigation on the reputation of a broker before traders decide to start trading. Here over-the-counter means something related to limited regulatory oversight and non-centralized exchange. Also, traders should check the country where that broker operates.
Everyday, the world forex market receives over USD $5 trillion traded which is done by large banks or financial institutions. These main players can set prices and affect price movements as they have great volume trading and nice access to technology and information.
is never a superfluous thing if you are on your way to achieve success in this field. Once you know what is ahead on your trading path, you can set your mind to be prepared for whatever to come.
STANDARDS OF THE TOP 10 FOREX BROKERS IN THAILAND
Selecting a suitable forex broker is the most important decision you should make in you trading Forex career. At that time, you will be active in withdrawing your profit with your expectations when you partner up with any brokers. Lets discover some standards thatTop 10 brokers in Thailandare available.Top 10 brokers in Thailand: Data protectionIts compulsory to submit a lot of information financial & personal data when you open a reliable account with your forex trading brokers. Another information needs to be clarified such as: credit cards, account number of bank, passport or utility bill
Its easy to be hacked by attackers if you have a bad internet of security. All activities can be exposed to steal personal data, trading performanceso, you should check all policy and make sure that all of the information is private and not for selling to anyone. If you dont have time, look for brokers with trusted regulations. Most forex regulations can keep you safe from scammers and online hackers. This is thebasic forex knowledge for beginners.Top 10 brokers in Thailand: Customer SupportImpressive customer support raises a signal that you will make your customer satisfied in the future. Support staffs should be ready to deal with any trading problems, especially in Forex trading transactions. The top forex brokers in Thailand will help you to boost your studying process because Forex trading are involved in taking use of software that seems complex to understand.Top 10 brokers in Thailand: Focus on Brokers ReviewsCommonly, everyone will buy or sell in terms of on brand and fame. For this reason, you should seek at the customers reviews and all related comments about your future brokers. However, please keep in mind that not all forums are trustworthy. Hence, you can find negative or positive fake review.
Forex is like any other forms of business, it has good and bad sides. Because most of the traders cannot tell the truth that they lost, they will blame on others. In case of a customer complaining about losing, it doesnt mean that they become a bad broker.
Try to seek for what everyone is talking on brokers. You need to analyze all of the information if you know that some false one is published without incredible proofs.Top 10 brokers in Thailand: Keep out of bonusesIf you are going to open forex accounts, you should keep out of the attractive bonus given by forex brokers. Lets take an example. Opening account of 1500 Thai Baht and getting bonus cash of 500 Thai Baht. Nothing is free in the forex market. This bonus helps to draw you, but finally, the broker will recollect their money. You must focus on the main target when youre in Forex, not for bonus.
Bonus, at first, may seem like a good opportunity for free trading. However, they are in fact just a tool to lure new traders to a broker. Receiving a bonus is very easy but withdrawing it is super difficult. Keep an eye on those bonuses.Top 10 brokers in Thailand: Commission, Spreads and feesCosts of forex trading can considerably affect your profits. The differences between costs of transaction can small but it can grow over time.
However, you need to take note that though there are several low trade off brokers, the costly brokers give high quality service. Some of them are vital in trading forex. The services such as: customer service, trading tools & platforms, market analysis & training materials. So, ensure that if you can select the expensive brokers, the size is worth paying.