When people hear about earning via internet they react each according to their own way. Some of them have become despaired seeing the output of earning in this easy way. Some of them could not do well in the competitive market of freelancing. Forex Trading can be put between these two. Here you need not to be so skilled like freelancing. If you have the basic knowledge about trading then you can start it. You have a huge scope to know here.
It is better to be careful at the beginning that Forex is somewhat like Share Market. The investors in the Bangladeshi Share Market know well that here as they can profit very quickly, they can face a huge loss at the same time. Without understanding the trade very well one should not invest money here.
Let’s see, how can forex trading as a source of income via internet :
What Forex In Fact Is: The word Forex is formed from Foreign Exchange. It is the international market of the transaction of foreign currency that is taking place at every moment. One can invest there via internet and can withdraw the profit in the same way at any moment. The rate of transaction is shown every moment by graph.
Though we started our article comparing with Share market, it has some difference between these two. This trade takes place between two currencies or through the price of a commodity. Let us see an example. About one month ago the price of the Australian Dollar was higher than American Dollar. Or the price of Indian Rupee is gradually decreasing comparing to American Dollar. The difference between two currencies takes place at every moment. Forex is the earning method by business using this difference of currencies.
Suppose, you have invested with Dollar and Euro on behalf of Dollar. At this moment 1 Dollar equals to 0.76876 Euro. Seeing the graph you thought that the price of Euro may rise higher comparing to Dollar. You have bought 1000 Euro. After 10 seconds you see that rate of Euro has increased to 0.0 002%. So, you have benefited 0.02 Euro. Now if you sell, you will gain the money of benefit. On the other hand if the price of Euro decreases (the price if Dollar increases) then you will lose.
The main facility of Forex is that you can trade here at any time. You can use your own currency in lieu of Euro opposite to Dollar.
Now the price of gold is decreasing gradually. You can earn using this situation. If you have invested on behalf of Dollar, then as much as the price of gold decreases, the much of your benefit is. If the price of gold increases, you will lose. You can change your direction at any moment.
To understand ‘when and to who are to invest’ is the key point of Forex. For that there is much scope to analyze from different point and many angles. To learn Forex means to understand these points.
How To Trade Forex Practically: You have to be a member of a Forex Broker. There are thousands of Brokers. One can be a member of any of those at any time. To be careful here is better because there are many fake sites beside original sites that can do forgery with you. You can rely upon those sites which have been trading for five years or more. In most of the time software named Metatrader are used to make trade. So, download this software from broker site and install it. Follow the instructions given by them.
There is thing named Dummy Trade in the Forex sites. If you become their member, you can trade with imaginary money. Suppose you have invested 10000 Dollar. So, you can examine here how you can profit with this money or how you can protect your loss. The difference with the real money is that here you have no risk of loss or you cannot draw a single penny although you profit here a great amount.
You can trade with the real money when you can understand that you have comprehended Forex, can make profit or can avoid loss. You can use Skrill (Money Bookers), Payza (Alert-Pay) to withdraw money. You can take the help of a freelancer to withdraw money for the first time.
The lowest amount of investment varies from Brokers to Brokers. It ranges like 1, 50, 100, 200 Dollar. They pay loan to their members up to 1000 folds based on their investment. It means if you invest 100 dollar, you can trade with 1000,000 Dollar. Again! Careful!! Don’t invest this huge amount of money in the same trade. It will enhance your risk of loss beside your high hope of huge profit.
Related post of my other blog: Most successful forex trading system
The common rule of carefulness is that try not to trade with those which change frequently. The stable currencies like Dollar-Pound-Euro etc are comparatively safe for the newbie.
How to Learn: One should not do Forex without understanding it very well. If you want to do this job then try to know it well at first. You can know it from internet, video tutorial, ebook etc. Trade in the Dummy site at least for one month.
There are a lot of good information about forex .Sight other blogs. If desired, you can come back, Link