Easy Guide How to Make $2000 in a Day with Forex Trading
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The main thing to understand about the forex market – the price of currency is constantly changing.
Right now, for example, the Euro is $1.2, and an hour later it is $1.19. The value of one currency expressed in another is called a quote. Each such quotation falls on the chart in the trading platform and puts a point on it. This point is automatically connected to the previous price mark of the asset. So in forex, in real time, a price chart is drawn, and traders sit in front of their monitors or smartphone screens and watch how the chart changes in order to figure out when to start trading.
We have already mentioned a common modern solution – leverage. Its essence is that at the moment of opening a deal the brokerage company adds its own, additional funds to your own funds. The value of that generosity varies from 1:1 (when you trade on your own money) up to 1:500 (when for every dollar you have, the broker adds another 500).
Also brokers often allow their clients to trade smaller volumes than they trade on the market, that is fractional lots. The standard minimum transaction size is around $100,000. However, many brokers allow making transactions with a tenth or a hundredth part of this sum.