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Forex Trading Tips News

Tips on Successful Forex Trading

Forex trading is one type of investment, which if done correctly promises very attractive profits. What are the tips for successful forex trading in Indonesia? How to trade profitably? What are the tips for becoming a trader?

To achieve financial goals, you should invest to produce enough profits to beat inflation.

One type of investment is Forex Trading.

Before entering into Forex Trading, we first understand what Forex is.

What is Forex?

Forex is an abbreviation of Foreign Exchange, which means the exchange rate between one currency with another currency.

The value of Forex can change at any time depending on the mechanism in the market, buying and selling.

Because of changing values, Forex becomes a trading arena.

What is Forex Trading?

FX or Foreign Exchange is the largest financial market in the world. The Forex market is open 24 hours a day, from Monday morning to Saturday morning, and nearly £ 3 trillion in currency is traded every day.

Let’s discuss the benefits or advantages of forex trading.

1 Large and Unlimited Profit Opportunities

Simply put, forex investment promises large and unlimited profit opportunities.

Unlimited profit! Who does not want.

Forex traders have frequent opportunities to take advantage of price fluctuations due to the high volume of trading activities and the many buyers and sellers in the market.

In FX prices are influenced by macroeconomic data such as decisions made by central banks that make speculating on market prices relatively easy compared to equity markets.

In forex you only need to evaluate whether one country’s currency will be worth more or less than another country’s currency.

2 Advantages of Trading 2 Directions

By taking advantage of market movements, you can get profit opportunities in both up and down market conditions.

  • In a rising market condition, you can buy at a low price, then sell at a high price. This is known as a buy or long transaction.
  • Meanwhile, when market conditions fall, you can sell at a high price, then buy it when the price drops. This transaction is called a sell / sell transaction, or short.

This 2-way advantage is what distinguishes transactions on the stock market from forex trading because stock transactions are prohibited from short selling, while forex trading is allowed.

3 Fast, Easy, Can Be Done Anytime and Anywhere

You only need a laptop or smartphone and a stable internet connection to start trading. Increasingly sophisticated software support allows you to execute trades almost instantly, whenever you see an opportunity.

With active trading hours for 5 days a week, you can trade from anywhere and anytime, without having to travel or contact intermediaries.

4 Flexible Trading Times

Unlike stock trading that has a time limit, forex trading runs for 24 hours every day. In other words, forex trading can be done on the sidelines of your lunch break, no need to wait after office hours.

5 Affordable Capital

How much capital is needed to start Forex transactions?

To start forex trading does not need large capital.  

With a trading capital of  usd 5 million, you can start trading forex. Of course you do not need to set a large income target from forex trading with relatively affordable capital.

With a profit of 10% per month, forex trading can certainly significantly increase your monthly income. For example, if you have a capital of  usd 20 million for trading, try calculating the profit of 10% per month. A decent amount, right?

However, trading is a risky choice, with the potential to generate large profits. Risk factors in trading are proportional to the potential profit that can be achieved.