The forex Handelstrainig is about the functioning of the foreign exchange markets and knowledge from the fields of technical analysis, the fundamental analysis of risk and money management as well as the development of a trading strategy, the trading plan and tactics in Trading on the FX market. Since successful trading requires knowledge, theoretical and practical preparation is essential.
What is Forex?
The forex market is the largest financial market in the world. Huge volumes of foreign exchange are traded here. On the forex market, a currency is traded against another currency. The prices of the currencies are subject to fluctuations. The development of value can be based on trends. These trends can last in the longer term. But there are smaller fluctuations within the trends.
They want to earn on these fluctuations. The foreign exchange market offers many opportunities to effectively trade currencies with a low capital commitment.
The most important terms
Foreign exchange is the currency of other countries. Not to be confused with cash. This is called varieties. These currencies are traded in pairs in forex. As an example US dollar against the euro. The fundamental analysis examines the macroeconomic and political criteria that may affect the prices of the currencies.
Technical analysis is a way of anticipating price movements and future market trends. The technical analysis deals with the actual market events. Charts are tools for technical analysis. They reflect the actual evolution of prices. These prices follow a trend.
Trader (Foreign exchange trader)
The trader does not act every day. Trading takes place only if the analytical instruments used show signals for a clear trend. On days that do not ensure this is not traded and thus the risk of loss is avoided.
Practical exercises with the demo account
The opportunity to acquire the practical skills of working on the forex market and to understand it at all is obtained by working with a demo account. Under real-life conditions, you will be able to use your own money without using your own funds to learn forex trading skills and knowledge. You can practice placing, deleting, and changing orders, as well as opening and closing positions.
Try different trading strategies and find the right solution for you. You can optimize them. Make sure you use this option. Do not make as many beginners the mistake too early to “enter” the real forex market. Do not take an increased risk. You should wait patiently to see positive results with virtual money as sustainable.
Error in forex trading training
Forex trading requires rules to be adhered to. These rules should be internalized. The biggest mistake is getting impatient. Do not think you will suddenly get rich. Work consistently and always have your available money in mind. Never use more than 2% of this for a trade. Another flaw is the lack of discipline in dealing with the strategy. This should be observed to prevent subjective mistakes.
Furthermore, ignorance of the specific market is a fatal mistake. Without knowledge, trade is like a lottery game. The last mistake I would like to mention, but which is not the last one, is when traders do not keep track of their positions. You will miss the date of exit and in the worst case lose everything.
The Forex trading training is the most important thing ever before you start trading. The more thorough the preparation, the greater the success will be. You can watch informative training videos explaining the basics and structure of forex trading.
Get to know different chart views, place them and how to hedge their positions to be more profitable. This information gives you as a beginner a glimpse into the world of international forex Trading and gives you the first basics for the necessary expertise to start trading forex. Your trade training is the best starting shot for a large Forexkarriere.