How to Trade???

You dont need to be a Proffesor, PHD, degree holder to do forex trading, instead you just have to read my blog :), i will try to make everything easy for you. Now, before you enter a trade, there's a few things you need to understand.

1) Currency Pair
EURUSD - Euro per US Dollar, GBPUSD - British Pound per US Dollar, and etc.. Fore instance, GBPUSD price is at 2.0010, this means, 1 USD = 2.0010 GBP. For beginners, you may use EURUSD and GBPUSD as your main currency pairs.

2)BUY or SELL?
What is the next move of the currency pair you choose? North or South?
Let say at 8am early in the morning, GBPUSD is at 2.0150 and you enter a trade at this time. at 8pm in the evening, GBPUSD is at 2.0250 (rised 0.0100 or 100pips). If you entered BUY GBPUSD at 8am, you won 100pips, if you entered SELL GBPUSD at 8am, you made a 100 pips lost at 8pm. However, price falls and rises, it could fall 100 pips today and rise 200 pips tomolo. Win or lose is determined by the time you close the trade.

3)Open Position and Close Position
After you decided to BUY or SELL, its time to OPEN POSITION. In your MT4 Trading Platform, right click on the chart and select 'Trading' -> 'New Order'



Clicked BUY or SELL. You have now opened a position, and you will get to earn profits when the price goes the right way. If you clicked BUY, expect the price to go up, if you click sell, expect it to go down.

Monitor your trade. When you have made enough profits/loses, you can close the position to stop further loses or secured profits.