Thursday, April 26, 2012

How To Make Money With Currency Trading

By Todd Watson


I was not making enough with my main job. Well it was enough for subsistence level but more than that, I didn't have anything else. Like the smartphone that I needed but the service supplier denied my application for a new subscription. This implies I needed to purchase my new phone with cold money. That's why I started looking for an additional job online. And the most effective way to make money so far is Currency trading.

When I was searching the web, I discovered some encoding roles, writing jobs, selling jobs and online trading. I right away saw the posting from the site inviting folks to invest and become currency exchange traders. I joined up and boned up on the basics of Currency exchange in less than a week. Just to mention to the readers who do not know, Foreign exchange trading is the market of trading currencies. Here, you take advantage of the fluctuations in the price of the currency pair and make money out of the difference.

Lets use example currencies An and B from two states, whereby An is your nations local currency. The exchange rate is 1A = 1.5B. Now we have what we call the pip which is the lowest trading unit in Foreign exchange. Let's pretend you have 100,000A, which allows you to buy 150k B. We wait until the value if B becomes powerful, and the exchange rate changes to 1A = 1.3B. If we sell our 150K B, it'll cost 115,385. Your profit then is 15,285A. Obviously, the proportion of the return of investment is was at 15%.

When I was just starting out, I enrolled with a reputable broker that helps out new traders. The site allowed me to use Metatrader 4 free for the testing period. During my first month I observe the market while becoming familiar with my tools. I quickly learned the value of technical analysis and when to make a move.

Obviously I couldn't afford the pips, so I had my broker take care of that with leverage promoting. The arrangement was, I get my percentage from the revenues, and so I did.




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