How to Trade Forex

You can choose to open a short position, buying a currency pair and selling it at a higher price. A short position can earn you a profit if the price of the currency pair falls. You should avoid long trades due to additional fees and restrictions. Short positions are also popular. Unlike long positions, short positions do not have any additional fees or restrictions. However, you should know that a pip represents a single point of movement on a forex pair. This corresponds to one decimal place in the price of the currency pair.

When you place a trade, try to identify the major trends that may be affecting the price of a currency. Important economic events, such as the release of U.S. non-farm payrolls data, can cause dramatic changes in price action. Learn more about these events in the Forex Strategies article. Then, decide which currency pair to trade. Ideally, you should be trading two or four pairs at a time. That way, you won't be overwhelmed with too many diagrams.

exness best brokers forex trading, licensed in Seychelles, Cyprus, UK and South Africa. The exness account types are complete, the transaction has rebates, the standard account rebate is 35%, the Pro account rebate is 23%, and it is automatically returned to the exness mt4/exness mt5 account every day. Exness us clients only. Click the link below to sign up exness real account。

exness account opening link

Telegram: @Rebate521

WhatsApp: +60 1137795264