Wednesday, October 27, 2010
ForexCent is the best Forex broker
ForexCent provides the best conditions for internet-trading at Forex market. We will give you an opportunity to make transactions with more then 60 financial instruments and offer minimum fixed spread from 3 points with no commission and no delay in order execution.
* Reliable company with pure reputation
* Excellent support service
* The best trading platform MetaTrader 4
* Quick opening of a trading account
* Leverage up to 1:500 for micro accounts
* Free welcome bonus 5$
* Automated deposit will allow you to start trading immediately after you open an account
* Instant execution of all orders
What is FOREX?
FOREX is an acronym that stands for Foreign currency Exchange. Foreign Exchange market is like a large exchange bureau, where major players such as Banks, Brokerage Houses, various Funds and Corporations buy and sell currency.
An estimated daily volume of trade at Forex market is from USD 1.5 to 3 billion. Nowadays technologies allow individuals to participate in Forex trading as well as large corporate investors.
Forex in Detail
How to Make Money at Forex Market
For example let's look at the EURUSD chart of April 21, 2009. After preliminary technical analysis you made an assumption that euro will continue to rise against dollar and decided to buy it. Supposing your deposit is $3000, leverage is 1:100 and you are going to buy 100 000 EUR for $142 300 (the rate is 1.4230). But where will you get $142 300 if you have no more than $3000? The answer is simple: leverage is 1:100 and it means that in order to make transactions having $3000 account automatically you can obtain a $300 000 credit that is 100 times more than you actually have!
So, at 9:37 a.m. you bought 100 000 euro for 142 300 USD (rate is 1.4230 dollar for an euro) with a stop loss at 1.4200 that is 30 points less than the purchase price. A stop loss order will limit an investor's loss on a security position in case of price drop. Supposing you are waiting till the moment when price increases till 1.4330 that is 100 points more than a purchase price.
After a while price rises and a bit later at 1:54 p.m. you close transaction at 1.4330 selling 100 000 euro at a new rate 1.4330 and get $143 300 or $1000 more than before and this is your net profit.
The idea of Forex trading is defined in a simple rule:
BUY LOW AND SELL HIGH
Try Demo Account
Demo account is the first step of a novice trader. Demo account allows you to get acquainted with a trading platform, study the basis of trading and develop your own strategy risking no money. Everything you need is to download a trading platform MetaTrader and open a free demo account.
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