Forex market is today’s most advantageous financial market. We know this phrase many times you see, hear and read. It is possible to explain why the forex market has received so much praise and popularity with the transactional characteristics of the market. A person who knows how to play Forex will be able to get a higher rate of profit compared to other markets in a short period of time by evaluating their savings even slightly.
The most appropriate market for evaluating your savings in small amounts will be the forex market. With a $ 100 collateral, you can enter the forex market and take advantage of the advantages in a short time to process with much higher amounts. In this way, those who do not want to make long term transactions in the stock market can invest in short term and get high profit in a short time. No high profits are obtained from transactions carried out in the short-term on the Bourse.
As a global financial market, the forex market is managed all over the world, and traders are trading with investors all over the world in the same way wherever they are. How do you play forex? What are the rules? What should be done to be successful?
We can divide into 3 steps to gain profit by trading on Forex market;
- Forex Training Phase,
- Starting the Investments Phase,
- To be successful in Forex
Forex Training Phase
As a common feature of the financial markets, it can be said that before starting to invest, a training is needed to get to know the market and learn how it works. According to other markets, we can refer to these markets as the most easily available market for investors.
It is possible to have detailed information about the market thanks to the free and online training provided by Forex companies. This means that you can take advantage of the time and place you want to receive these trainings over the Internet. Offering educational facilities free of charge is one of the biggest advantages.
If you look at Forex training tools; E – books, educational videos, online seminars called webinars, and demo accounts. You can easily subscribe to these trainings through the brokerage house’s website and benefit from these trainings at any time.
If you look at what you will learn through the trainings;
- What is Forex?
- The transaction features of the market,
- Terms that need to be known about the market,
- Detailed information about technical and fundamental analysis,
- How to use transaction platforms and how to create accounts,
- Detailed information about price charts,
- Factors affecting investment instruments and prices,
- Your orders,
- Trend concepts,
- How to open the position,
- You will learn in detail how to make money in Forex.
While obtaining theoretical and visual information from books, videos and seminars; You will have the opportunity to learn the practical information you have gained through the demo account. At the same time, gaining experience, developing strategies, solving the market logic and learning about the situations you can face in the market with virtual money is the best way to learn how to play forex.
Demo accounts are exactly the same as the trader program forex trading, and the only difference is that you are trading transactions with virtual money. Learning to invest in real market data will prepare you to make the best money out of the market. It is enough for you to choose an intermediary institution for Forex education and apply for training through the website.
Starting to Investments
When you believe you have Forex knowledge, you can start trading your forex on the real account. The transactions you make in the demo accounts will give you this signal easily. Some say that demo accounts are tricking people and making you win especially. But we need to point out that this is absolutely wrong. Demo accounts do not have any intervention, and the only difference is that you use virtual money.
By not managing the market through a single center and managing it from all over the world, you can check your portfolio 24 hours a day, 5 days a week except on weekends, and you can successfully perform your transactions over the internet.
Forex market investment instruments have a wider range than other markets. Due to being a global market, the currencies of all world countries; Commodities grouped as precious metals, industrial metals, agricultural products, energy products; You can invest in stock market indices such as the famous Nasdaq, S & P 500, DAX, Dow Jones, which are known with the stock markets.
To begin investing in Forex, you need to first agree with the brokerage house that you believe is legal and gives you the best opportunities. You will sign with the intermediary institution and you should read the rules of the contract well and discuss these conditions with the intermediary institution. At the same time, forex companies do not receive any fees or commissions from investors.
After signing the contract with the brokerage house, you can easily start your transactions through the trading platform by depositing money in your account. The experience you have already gained through the demo account will help you start your transactions without problems at this stage.
What you need to pay attention to during the investment phase is to identify the investment vehicle you will trade. Instead of investing all your money in a single transaction or a single investment instrument, you should start with a certain amount of transactions or create a portfolio of various investment instruments. You also need to make market inspections and analyzes to determine which investment vehicle you are going to trade (buy or sell). You need to pay attention to the macroeconomic variables to be announced during the market follow-up, all the developments related to the factors that are influential on the investment instrument and causing the fluctuation in the price, and the political situation of the countries.
Analyzing the market trends and price charts will tell you whether you will trade in the direction of buying or selling. You can create a position by specifying other issues (lot, leverage, risk factor, etc.) that you need to determine. You can then wait for your process to finish, or you can end your position at a time you consider appropriate.
Using leverage in your transactions will increase your profit rate up to 100 times. Of course I have to say that there is a risk. So in case of loss, much bigger losses will come into play. But there is an order to stop the loss on the forex market, and thanks to this order, you can ensure that your transaction is automatically terminated without any loss or loss.
Thanks to its bidirectional processing capability, you can generate profits by trading when the investment tool will both gain value and lose value. For example, you are a gold investor and you anticipate that gold will lose value. You can earn money on the basis of your predictions by starting a position with sales in gold. If you anticipate gold will appreciate in the same way, you will profit by starting the transaction in the direction of purchase.
With the trading features of the Forex market, you can easily convert every move in the market to a profitable deposit. But you have to remember that you need to have good forex information for it, and that the experience has a big precaution.
How to Play Forex in Brief?
You will get the power of Forex trading and you can easily solve it with training. It is possible to learn forex trading both theoretically and practically. Together with demo accounts, you can learn best practices and develop strategies without risk. With foreign exchange, commodities, stocks and stock market indices you can test how to invest, you can create the best portfolio for yourself.
For the sake of clarity, we can compare forex transactions to foreign exchange bureaus and jewelers. When you think gold will rise, you go to a jeweler and you get gold. After a while, you will go back to the jewelery shop and you will get more money than the first one by cashing in the gold. This is a simple forex trading. The differences are; Forex market transactions can be done 5/24 via internet, transactions can be made through instant price changes, no physical purchase and different transaction characteristics.
Unlike jewelers and foreign exchange bureaus, the Forex market performs bidirectional transactions, leveraged buy / sell transactions, and transactions where risks are stopped by orders. With bidirectional processing, you can invest and make money when gold prices fall. With a leverage trading system, you can achieve a profit of 100 per 1. You can limit your risks by making use of the loss stop / profit taking order and you can target maximum profit with minimum risk.
To be successful in Forex
In order to be successful in Forex trading, we have to first define the market well. The other issues you need to be aware of are being a good market follower, being a good analyst, developing strategies specific to your operations, and being prepared to act psychologically on the market.
In order to achieve a good market watch, you must first know the factors that will cause fluctuations in the market and in the prices of investment instruments. In this way, you realize your market follow-up knowing what you need to watch without stress. We can say that the market follow through the internet is one of the best opportunities of our times. At the same time, you can use smartphones and tablets to make market-oriented applications.
Analyzes will be very complicated when you first start learning. But once you have some knowledge, you will learn how to use it and you can easily apply technical analysis on price graphs. In addition to having many technical analysis methods, you do not have to use all of them. You can use the method that you think gives you the best result. Analyzing the price charts will tell you about the future trend and you can decide on which direction to proceed.
Developing a strategy for your own investment transactions will make it easier and more comfortable to invest. You can follow the best way to earn money on the forex market by developing a strategy suited to your abilities. At the same time, it is also of great importance that you are psychologically prepared for the market. You need to be prepared to win and lose, perform your transactions without being disturbed by others, and develop your ability to work under stress.
There is no speculation or manipulation among stock market risks in the forex market which has high transaction volume. High transaction volume does not allow these interventions. In this way, you can safely perform your transactions. By evaluating your savings on the forex market with minimal risk, it is possible to get high profits in a short time. But you should never forget that you have to have the experience of how to play forex, forex.