Most Popular Forex Trading Platforms

Everything in the world is growing rapidly, including the currency market. To ensure correct operation of such a complex system as the Forex market you should use modern software, consisting of many components. Initial part of this system Forex trading platforms allow any trader to generate the foreign exchange market and to implement their deal. Of course, all the leading trading in the currency market aspiring to ensure optimal and pick for themselves a highly reliable trading platform, because it is a link that must operate flawlessly for days.

Today there are a lot of all kinds of Forex trading platforms. Previously every serious broker generally sought to create a Forex trading platform, but now most brokerage firms have calmed down and provide their customers with a very reliable and popular forex platform MetaTrader 4, MT4 or MetaTrader 5.

Every beginner trader can analyze and compare long various Forex trading platforms. But much more useful to spend the time to choose the optimal Dealing Center (especially considering that the vast majority of the most deserving of them mainly use Forex trading platform MetaTrader 4 or MetaTrader 5) because trading conditions and principles of it, is much more important than the individual moments of the trading platform Forex.

Forex trading platforms are constantly being improved and now perform the following functions:

  • All modern Forex platforms have a structure produces accurate Forex quotes, fully tracing their dynamic change. Having a real quote on hand, traders can predict the timely and make trades, completely controlling the entire dynamics of the Forex market.
  • Recently, Forex trading platforms allow you to quickly and reliably fulfill all orders traders with easy access to all the tools of the currency market. Traders can quickly record profits, limit losses and produce a number of other functions, so fleeting and necessary for successful trading.
  • Now Forex trading platforms have complete financial statistics and records of all transactions made ​​by a trader, which can significantly facilitate trading account management.

Important Things To Consider

Analyzing all the brokerage company, you should only those that have favorable trading conditions for the conduct of any trade trader. Screen out companies with adverse trading conditions and characterized by negative reviews.

This is not strange, because the brokerage company ensures optimal trading environment for all trader’s trade in the foreign exchange market. The forex trading company provides the ability to trade more than 110 instruments, changing the leverage from 1:50 to 1:500 and enticing spread of 1 point.

Forex brokerage company calculates and produces enticing bonuses for the remainder of the deposit charge about 12% per annum, provides several methods of money transfer.

Every man once begins his new venture is natural that an inexperienced person during the development of a new class, there are often quite naive questions that are experienced people seem outlandish. For example, many people are starting to get acquainted with the international currency market, having heard something vague about it, and could not help wonder where to buy Forex?

On the web site, they have a verity of informative sections on “Trading Conditions”, “Questions and Answers”, “advisors and experts” and many others, the development of which allows traders to improve their professionalism. All information on the website of optimally without excessive pomposity.

But at the same time, even the best brokerage company can not guarantee a successful trader to trade, only the constant improvement of the professionalism and the formation of a trading strategy will allow the trader to receive regular income. Most Forex companies provide its customers with a variety of methods to improve the skills of DEMO-account, participating in various competitions and tournaments. And mastering the currency market, you can safely open a real account with a brokerage company, while acquiring a reliable trusted partner for years.

Importance of Using Anti-virus Software

Anti-virus should establish a special utility to find and dangerous threats. For example, anti-virus utility Zaitseva, developed by the creators of Kaspersky is able to help in the search for Trojans. And often finds that Kaspersky missed during checkout.

Particular attention should be paid to such matters as the shutdown and hang the trading terminal. For example, you spend analysis NZD / USD, about to open a transaction, and then you “eject” from the terminal. This is one of the signs that someone else is a trading platform for your password. If this situation is repeated several times, change the password.

Particular attention should be paid to the mailbox. Most of the break-ins occur through it. First, there should never store passwords, they can easily be stolen by fraudsters. Second, for serious cases it is better to have a separate box, and no one to give it and do not take back any mailings. If emails come to the box with suspicious links, suggestions, go to another site or even a letter from the administration with a proposal to change the password to participate in the action, you know, it most likely scammers. In any case, do not open such letters.

Sometimes investors allegedly offered to give them the password to evaluate the result. They say, they say, then change it, and if there is no money in the account, many agree. Then the investor refuses to invest, and after a couple of months you transfer money there, nothing suspect compose forecast about pair NZD / USD, but when going to open a transaction, you write: “Insufficient Funds”. You look at the balance and realize that disaster struck. Therefore, investors should not place any transfer trader password. In an extreme case, there is a feature as the password for the investor. But even his best is not to scatter on the forums.

Forex Trading

After 2007, it was possible to count several companies working with a minimum deposit of just a few dollars. In this case, the leverage has long ceased to amaze with their multiplicity, and we are talking about numbers above 100 and even 200 in some cases.

But the great variety also has its disadvantages. With an increasing number of brokers on the agenda was a question of their choosing. After all, every trader needs a reliable Forex broker. How to choose and find it – it is a hard question.

First, it should be noted that brokers are divided into domestic and overseas. Naturally both will have their own corresponding rules and regulations. If the sum of capital does not exceed ten thousand dollars, there is not special need to use foreign brokers. So the majority of professional traders says that most especially disgruntled and wounded all sorts of troubles, they think quite differently and are ready with the minimum amount to go abroad.

Further brokers generally fall into two categories. Forex brokers are banks and so-called dealing centers. Banks are characterized by higher reliability, but only at first glance. In addition, banks do not take deposits from small and often have their own software. Unfortunately, they are not always convenient for the traders. As for reliability, it should be noted that there is not a single state bank. But with the past not so long ago, the issue of licensing procedure has become less concern. However, banks are characterized by the fact that in conflict situations the bank’s credibility is placed above the trader’s personal problems. Even if the bank is not right, its image will suffer greatly. Therefore, some people still prefer to use the services dealing centers, especially if they have little capital.

Forex Trading

A lot of people think about forex trading to be a betting and based on the techniques used for trading in the market, it could be classified as so, though the definition of betting is “to bet a stake on a outcome that is in accord purely on fortune” keeping that in mind and the quantity of work that moves into technical study. You can almost not say that the result is in accord with luck. Here are large numbers of people out there which are investing money on the forex trading, in actual fact, something like 90% of them and the motive is they do betting in the forex trading particularly new comers to the currency trading business. Hence the response to the subject, is forex trading a betting? It is really contingent upon on the traders’ techniques and lines of action.

The foreign exchange is the more or less hot-blooded marketplace in the world that makes it the providing material gain or profit but it is also the most difficult to forecast. There are hundreds of trading platforms out there in a literal sense that assert to earn money on the forex trading and the reality is that a number of them win for a time, the issue is that the market transform very fast and methods that may be money-making today may not be in the near future. The most fruitful traders in the world are the those who can get used to their trading policies very fast to the existing market conditions.

Being educated is truly the key of doing well in forex trading even though if you are eager to trust in a qualified trader that is selling forex products then it can be business producing a sizeable profit. A forex business is very straightforward and can be done with automation.

Emotional Control in Scalping

The discipline and emotional control is a key point in the success of any trader and much more so in a full-time scalping trader. At this point can be very useful to use stop orders and trailing stop to maximize the benefits and minimize the risk if you are not able to decide when to close an operation controlling emotions.

Of course, a full-time scalping trader with little or no experience should start trading with small amounts. Luckily any broker can provide virtually mini accounts that typically require an initial deposit 500 to $10,000 and you can operate minilotes (0.1 standard lots).

The scalpers maintain their positions from a few seconds to a few minutes at most. Its main objective is to getting small amounts of pips numerous times throughout the day.

Finally, remember that you should never trade with money you can not cope with the loss.

Use of automated trading

A good automated platform would undoubtedly the best choice for a full-time scalping trader. Unfortunately I can not advise any platform or automatic trading software but I can advise the use of software that can monitor active orders when we’re not watching the market. These programs can be a useful tool for full-time scalping traders: the trader decide when to open a trade and can leave the program monitoring market conditions to closing the transaction when conditions are favorable.

In short, a forex trader successful full time must combine the currency pair trading right at the correct time to apply discipline and rigorous emotional control.

Of course, there are no guarantees of any payoff but following these tips sure there are greater chances of success, or at least approach the forex market and taking my experience and knowledge for transition to full-time scalping trading.

You can take several styles at once, you can typecast in one or another type of trader, does not matter, what matters is that will suit your style, personality, experience and skills.

Trading Capital Appreciation

It is essential to evaluate our capital account. It can be used as the value of the account balance, i.e. the capital to consider excluding capital used in operations that can be opened or losses or profits from these open trades. However, it is much more common, and can be much more effective, use the net balance of the account (known in English as equity).

The net can be understood as the money we really have and which have at all times. There are different existing models that can be applied to calculate this value.

  • Home Equity Model (Core Equity Model): This model takes into account only the account balance less the capital used to open operations, that is, the margin free. No one considers the development of these operations.
  • Total Equity Model or Net Balance Total (Total Equity Model): In this model, it introduces floating profit and loss. Initial capital is subtracted from used capital to open operations, joins the floating profit and loss. The result is the actual total capital available with which we have to open operations.
  • Total Equity Model Reduced or Reduced Total Net Balance (Reduced Total Equity Model): This is the pricing model of trading capital that can be more complicated and is a combination of the other two. It takes into account the initial capital less capital used to open operations and adds the benefit secured by stop loss orders in positive territory, so you can also find references to this model as Model Home EquityConquered. Also, some authors added that benefits obtained from a stop loss that, while still in negative territory, it has secured a reduction of potential losses.

Magic Number in Metatrader

In real life, a trader may encounter different situations, all of which have the easiest solution using the Magic Number. For example, the trader combines in its own operative hand account with one or more Expert Advisors. The EA should manage its own operations without interfering with the operations that the trader carried out manually or with another EA operation. A simple solution can be assigned a unique number and different to all orders to open the same Expert Advisor. The Magic Number must be non-zero, then zero is the default for all orders, which is the same as saying that if the Magic Number is zero, an order has no Magic Number. Thus, the operations will not open manually MagicNumber and open operations group for the same EA that share the same ID number so that each EA can know what the orders should be handled and what not, this identifier is the MagicNumber.

The last situation where the Magic Number is saved in an easy and simple way in which a single EA is operating on the same account, different timeframes in the same or different currency pair. In this situation you can associate a different MagicNumber and  Expert Advisor. For example, put a Magic Number to EA in the timeframe 15 minutes of the EUR / USD and another Magic Number differently to the same EA operating in the EUR / USD but timeframe 30 minutes. Even with this implementation of the Magic Number you can have the same EA working on two graphs different from the same pair of currencies and same timeframe but with different settings on each graph. For example, we could have an EA based on moving averages trading in EUR / USD M15 with exponential moving averages, and the same EA running on another chart of EUR / USD M15 with simple moving averages.

Plan Your Forex Survey

We must have a plan in which there must set some goals, as you travel the road to them and what you do to potential mishaps that may arise or surely arise. Having a plan does not guarantee success at all but it is much better to have it get it clear.

It is assumed that you have been training and practicing for at least one year with your trading system, so you have to have data on it, for example, maximum drawdown expected. Suppose the maximum drawdown wait is 30%. If we review the lesson on the pip and you will see a standard lot is $100,000. When trading 1 lot in pairs like EUR / USD the benefit is $10 per pip of profit and loss is $10 for every pip lost. So, do not count the pips of commission you get from the broker, with a movement against only 30 pips would have lost $300 thereby doubling the maximum drawdown, it would lost more than half of the money in the account and there would be the only limit of a call margin. Obviously in this case, 500 USD not be the amount of money needed to start because it would be too risky for trading conditions for the broker and trader’s trading style.

Now suppose the same conditions as above but instead for the broker it only allows operations with 1 lot per 0.1 changed. To reach that point, it would be disastrous with 300 pips loss. And with 150 pips, the loss would have reached the maximum drawdown. This situation is a lot more lenient. And it can be worth $500 as starting capital, or may not, depending on the objectives and other characteristics of the trader’s trading style.

Commodity Trading

Small movement in the price of the commodity can bring big profit. In other words, if you want to buy for example 100 troy ounces of gold, you are able to do so only with the composition of the backup (the so-called margin). It is roughly only around $1000! Or, if you want to buy 5,000 bushels of wheat, all you have to deposit around $900! With this phenomenon, we can not buy or sell something at full price, but make only a minimum deposit (margin). There is not any other business that would offer something like that! Let us therefore now show a few examples of the.

Currency trading

Let’s take advantage of the phenomenon described by leverage a concrete example of currency trading. Imagine that you want to speculate on the movement of the euro. Based on your technical analysis expect that the price of the euro will grow – So you want to buy euro now, so it can later sell at a profit. But you know a lot of informations got from the newspapers or TV. To earn a good buck movement, we would have to invest millions or buy tens and hundreds of thousands of Euro, and only in this case, if the price of the euro moves up. But where from to take millions of Euros to invest in currency trading. Weighing in commodity trading never require hundreds of millions of Euros!

Minimum “standardized” contract of euro in commodity exchange is the “Euro pack”, worth 125,000 euros. If you decide to buy one euro contract package, it is actually buying the currency. The 125,000 Euros are equal to 3,750,000 crowns. Now imagine that the purchase of such contract simply requires a small deposit or margin - not 70% of the price, or 50% or even 25%, but only for about 3200 U.S. dollars (in the case of transactions undertaken throughout the course of one day’s deposit is often significantly less – around $1000!). If the Euro really grows, then you will be credited to the account of profit. If the Euro goes in the right direction by only one cent, we earned $1,250!