How to effect deals and gain profit?

Let us take a more detailed look at the transaction process with the use of the trading terminal.

Prior to entering into a transaction, a trader should decide on the forecast concerning the future currency movement of the selected currency pair. Depending on this, the type of the transaction Buy or Sell should be chosen: Buy or Sell. If the rate tends to decrease, opening a deal will be the Sell operation, and closing – the Buy operation; if the rate tends to increase, then opening - Buy and closing – Sell. The history of quotations on different currency pairs for long periods of time (more than 10-15 years), charts of rate fluctuations in time, and also a set of different instruments for technical analysis are at your disposal.

Do not solely rely on your intuition! Undoubtedly, in most cases it can lead you to successful transactions, but only for a short period of time. Intuition alone is not enough in a long-term plan for the effective and profitable trade. Practice your professional approach by using the technical and fundamental methods of analysis for forecasting.

The basis of the technical analysis - is applying the mathematical tool technique for the current and historical values of the currency rate, analyzing the rate chart representation by using different techniques. The fundamental analysis is based on using information concerning the economical situation in different countries, taking political and other events that effect financial markets into consideration. Only weighed and balanced applying of different forecasting methods together with the strict self-discipline can lead a trader to the successful and stable work at markets.

Provided that the forecast has been made and you have made the final decision about the direction of the transaction, you shall order the current quotation for the selected currency pair. Make a double click on the currency pair in the “Market watch” window (situated at the upper left in the terminal) where the values of the rates are displayed. The window where you are to select the order type Buy or Sell will get opened, and where you are also to set the desired amount of the deal in lots.

What is “lot”?

Lot is the unit of measuring the amount of the transaction, the specified currency amount. The lot volume for different currencies is specified by the account type and depends on the leverage. Different account types in our company allow operating with different in volume lots. This information is available on the page Trading conditions.

Once you have selected the operation Buy or Sell by clicking the corresponding button, the order will be executed and at the bottom, in the window "Terminal" - section "Trade" the a line with the parameters of the given order will be displayed. Thus, we opened a position! If the information concerning the order setting has been displayed it is impossible to be cancelled.

One nuance should be mentioned. If, following this order, the other order of the same amount but at the reverse direction (Sell or Buy) is opened, the previous order will not get closed, but the other position will be added. Closing a deal is executed from the shortcut menu by right-clicking the mouse with the pointer on the order information line ( "Terminal" window - section "Trade"). Closing a deal is executed, for example, when the forecast has met the expectations and the rate movement to the expected direction has occurred. At the moment of closing a deal the received profit or loss will be automatically added and displayed in the status of the trading account balance.

While setting an order use the means for minimizing risks by setting the parameters Stop Loss and Take Profit. Their volumes can be specified either while setting the order or later at any time after the order has already been opened.

Having set the parameter “Take Profit” you will specify the level (rate) of currency upon reaching which the order will be closed with profit (without your participation and even when the terminal is switched off). This order is saved as the order parameter on our trading server.

Depending on the deal direction (Buy or Sell), the amount “Stop Loss” and “Take Profit” can be either above or below the current rate. For example, if the order is “BUY”, then the Take Profit volume is set above the current rate, and the Stop Loss- below. And vice versa, at the opened order Sell Stop Loss is above and Take Profit is below the current rate.

To test yourself “in business”, download the program for the trading terminal, register in the Trader Room and open a demonstrative account in any currency (at your option).

After the stage of the prior acquaintance with the trade process and the skills consolidation, after testing a demo account start trading on the real account, choosing the most appropriate Trading conditions and minimum deposit requirements for you.

Remember, that work at Forex is rather risk-bearing! Thereby, do not involve more money than you are ready to lose in trading.