Get to Know Forex Trading And a Complete Price Action Strategy
cungkring.com: What is Forex Trading? This question is generally asked by those who are unfamiliar with one of these popular online businesses. Indeed, to be able to run a trading business, at least you know in advance what forex trading is, how it works, profits, the strategy carried out, one of which is a complete Price Action.Generally, before doing techniques or tricks on forex trading, the first thing you should know is Forex Exchange or forex. We also know it by another name in Indonesian, namely Foreign Exchange.in other words, forex is trading foreign currencies from various countries.
By knowing about the meaning or definition, tutorials, tips and tricks for doing forex trading business, will help you better understand what forex trading really is. Even though it is reported that it generates a lot of money, getting to know more about its advantages and disadvantages is a proper thing.for more information about forex trading, let's look at the following description.
Get to know Forex Trading and a complete Price Action Strategy
DEFINITION OF FOREX TRADING
According to its understanding, forex trading is the trading of buying and selling foreign money.for example, you can buy currency from Japan or JYP and at the same time you can also sell currency from European countries called euros. This activity is called by the acronym JPY / Euro.In short, forex trading is a technique used to benefit from rising and falling currency rates.
However, it is important that you know that this type of trading does not take place in a physical place or a market that exists in the real world. Instead, forex trading is carried out in cyberspace using online platforms and trading applications.some people do not know this well due to the lack of information received.
FOREX TRADING MARKET
As we have discussed in the understanding section of forex trading, the forex market is trading currencies. Did you know, this industry can be a container that circulates more than 4 trillion dollars at once per day and is very liquid.In addition, the forex market is open 24 hours non-stop for 5 days.
However, because there is a time difference in various countries, trading activities are carried out at four different times.when trading forex it can be done anytime and anywhere even by relying on even a small capital.
HOW TO DO FOREX TRADING
Maybe you already have dreams of having a big advantage from forex trading. But, before that you should know more clearly in advance what language is used by forex trading.most importantly you need to know how to read candlesticks. If you already know, your habits are 75% of the people who have traded.
Apart from knowing the language, ha, which is included in the tips for doing other trading is to know well the important terms in it. Knowing resistance and support and reading trends.actually there's a lot more that you need to learn and it's still around the basics. This is also called the Price Action strategy.
This basic thing is actually the most important thing for you to know compared to various other indicators such as MACD, Bollinger Band and so on.Don't focus on anything else if it's just the basics, you don't understand very well.
TERMS OF DOING FOREX TRADING
Let's learn some important terms in Forex Trading as follows:
- Bull / bullish: a term that means buying or instilling confidence that an asset will increase
- Bear: Bear or Bearish is the opposite of bull or bullish in other words, the belief that the price of an asset will decrease
- Long: Can mean to buy
- Short: Selling in hopes of being able to buy an asset at a more affordable price
- Shadow: A line found on a candlestick chart candle that indicates the stock price has moved relative to the opening and closing times.
- Real body: The area on the candlestick chart that indicates the closing price of the stock is high or lower than the opening price.
- Candlestick: The shape of a rectangle seen or Real Body.some have a high line or vice versa.
- Leverage: The act of borrowing money
- Margin: The process of depositing against a broker to open and maintain positions in one or more currencies.
- Bid: The price a forex trader is willing to sell a currency pair on
- Ask: The price a forex trader will buy a currency pair for
- Spread: A trade from the selling price and the buying price
- Pop: A company that provides retail brokers with access from big banks to trading liquidity
- Lots: In forex trading, a lot is equivalent to 100,000 units of the base currency.standard lot is similar to trade size.
The description above is complete information on getting to know forex trading with a price action strategy that you need to know before finally making a decision to trade.This information talks about the basics of online forex trading business activities and there are many more things that you need to know.
Given that trading forex is not without risk, but it can make you suffer losses, always make a good plan.pay attention to tips and tricks to stay safe and don't trade without a powerful and right strategy for you to be successful. Always be careful and hope it is useful.
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