By Steven Lombardi
Encompasses a special rationalization of over twenty jap candle styles, approximately twenty symptoms, primary occasions, chart styles, Elliott waves and Fibonacci degrees.
Read or Download Bless My Pips - A Forex Trader’s Guide to the Currency Market PDF
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Additional resources for Bless My Pips - A Forex Trader’s Guide to the Currency Market
So how do you get that extra money? Hold up an old lady? Rob a liquor store? Sell your body to science? Nay, you use leverage. Leverage is a personal loan given to each individual trader by his or her broker to intensify that trader’s results. When a broker talks about leverage, you’ll usually see two numbers that look like this: :1 The broker is telling you that it is willing to lend you X amount of dollars for every one dollar you place into a trade. Leverage is an essential part of the forex industry because a trader needs to command a large sum of money in order to see results.
5, I’m prepared to place ten thousand units of currency at risk in hopes of making a profit. That’s a good safe amount, in my opinion. After you have chosen the amount of money that you’d like to trade, the next step is to set your take-profit. Remember that order? It’s the one that closes your position the moment you’ve made a certain amount of profit. ) Once you’ve set these two limit orders, you’ll be brought to the final step in your opening a position journey. Rejoice, reader. You are about to make the transition from average Joe to forex trader.
1. 1 Platform log in screen Here is where you enter the information that was provided to you when you registered for your ExpressFX platform. Once you’ve entered the correct account number and password, click Enter to access to the platform. You’ll notice that your password is a mess of random numbers and letters that are in no way easy to memorize. The first step that I always take once I open a new trading platform is to change the password. I usually like entering a password that’s very memorable to me.