Learning to trade forex in forex market
Thanks to the spread of the idea of electronic trading due to the development and spread of the Internet starting from the current century and with the presence of high-performance computers and smart phones, Internet trading has increased significantly, especially since the global economy is increasingly dependent on financial assets such as stocks and others, and also the emergence and spread of financial assets trading systems through The various means of communication, or known as the OTC system, is expected to continue to increase more and more.
Electronic trading is no different from exchanging anything else in our daily life except that it is done via the internet and is subject to the laws of traditional trading led by the law of supply and demand. Electronic trading is the exchange of financial assets through trading platforms or programs such as buying and selling currency pairs, stocks, commodities, and digital currencies through trading platforms provided by brokerage firms with the aim of profit from the price changes of these assets in the expected direction.
One of the most important advantages of electronic trading was the opportunity for many trading brokers who provide online trading platforms to enable a greater number of investors or traders to follow, conduct and execute transactions on their own, compared to traditional trading that required a presence in the headquarters of the market, and among the most famous examples of these platforms It is the MetaTrader 4 platform that is used in trading currency pairs, and in it it is also possible to trade stocks and their indices, in addition to commodities and digital currencies.
Tips before entering the world of trading :
- It must be borne in mind that day trading is not easy or comfortable as it seems at first glance, and also it is not considered a means of quick gain as some think, and despite the challenges that traders face daily, some take daily trading as a part-time and sometimes full-time job, so it is necessary. Follow the following tips in order to achieve the desired profits from spending time in day trading.
- Learn the basics of trading: science and knowledge are the weapon of the trader, and before entering the world of trading, the individual needs to understand the nature of the market he enlightens dealing with first, and to know the sources of his news and data, how to deal with them and how to benefit from them, then proceed to learn the basics of trading, its mechanism of action and the method of implementation in The different financial markets, then experience, and it is one of the most important elements that will determine the extent of his understanding of what he learned and his ability to enter the field of trading properly.
- Identifying risks and challenges: Trading, speculation or investment involves risk, and achieving profits from trading is based on the ability of the trader to identify risk and deal with it, and manage his capital properly, so accepting the idea of risk and discussing ways to deal with it is the first way to success in the markets.
- Trading depends largely on the psychology of the trader himself, you trade what you see, what you understand and what is suitable for your nature and vision, constantly develop your style, and the trader of the financial instrument can understand its movements, follow its news and bear the risk of trading on it.
- Trading with funds surplus to your needs: It takes some time to be able to achieve a fixed return in some form of the trading process, so starting the trading process with a large amount or deducted from your expenses or from your basic expenses is a great risk, as this constitutes a great psychological burden on you during the trading process Which may affect your decisions, and you should also know that one of the foundations of risk management associated with day trading is to use money that does not make you sad, and this is the concept of accepting risk, so we always recommend that you start trading in small amounts as an initial experience of dealing with the markets.
- Developing a plan and strategy for trading and capital management: In order to develop a successful trading plan and strategy in the currency market, it must be appropriate to the nature of the trader’s personality and his goals from entering the market, and the plan must be clear, realistic and feasible by the trader himself.