Tuesday, December 11, 2012

Forex Trading Demo

Today is December 12, 2012 to spell it in figures: 12-12-12, well, I am always fascinated with a triple number because I believe it brings some sort of luck (chuckle) so I used this day as a good timing to try forex trading online.

No, not the "real" mode of trading but just a demo account, an environment where I could practice trading on real time using the amount provided by the forex trading site.

When I logged in to the account I created, I was so confused what to do, what I saw was a strange world, a totally different scene from what I had thought about forex trading.

I did not understand a thing, so I did not post an order instead, I made more research and readings how to understand the movement of the market, the terminologies used in trading and other practices that a new forex trader must know.

The concept of Forex Trading is Buy Low, Sell High. for example you buy Euro at 1.40 dollars, if you sell it when the exchange rate becomes one Euro is to 1.43 then you have a profit of .03 credited to your account. Experts say that the safest currency pair to choose is Euro/USD.

But before I would put an investment into this form of trading, I will undergo a thorough tutorial first on how to make money on forex trading to avoid committing many mistakes. Most sites would allow an investment starting $50.00 so it is quite affordable for low income earners like me. 

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