Double click on the Fxcm icon located on your desktop. Wait 30 seconds and the trade platform log-in tab will appear. Enter your user name, Enter your pass word Wait 45 seconds for for the Fxcm platform to be displayed . Take a few minutes to look at how the bells and whistles are layout on the platform.
The upper left hand corner of the platform has the currency pairs, you can scroll up and down until you find your selected pair. The top right hand side of the platform has trade account balance, equity, profit /loss tabs The bottom area is the terminal where all live trades are displayed.
There are 2 type of trade accounts a) Demo trade account b) Real trade account
The demo practice account otherwise called paper trading is the account used by NEWBIES to trade in a live market in order to gain hands on experience. After 3-4 weeks of paper trading or when ever NEWBIES are comfortable with their developed skills and techniques then they are ready to upgrade from a Demo account to Real account to begin trading for real profit.
Before trading demo or real account there are a few things to keep in mind. a) Leverages — Forex markets allow large leverages on each account traded. As a result traders take substantial positions without making large investment. The leverage acts as a double edged sword which results in large gains at times and large losses at other times. Traders are required to signed RISK/REWARD instructions saying they understand the process before they are allowed to trade the forex market.
a)Forex currency are traded in units of mini-lots and lots. Each currency pair has a BUY tab for going long and a SELL tab for going short.
To begin paper trading any currency pair place your mouse on top of the BUY tab or The SELL tab and click once. After clicking the pair, a market order will be created. Complete the market order by entering 1-100 mini lots or lots in the amount(k) column then click OK
. Traders can only buy or sell the same pair. Traders cannot buy and sell the same pair at the same time. In this example a BUY order of eur/usd currency pair has been placed. After clicking this pair a market order is created Complete the market order by entering 5 mini lots in the amount(k) column then click OK
The eur/usd currency pair is now displayed on the terminal (bottom area of the platform). From left to right on the terminal we have symbol- eur/usd amount-in our case we bought 5 mini lots. Avgo-current market price. close- This is your profit or loss figure when closing your order. Gross p/l- is the amount of gain since entering the market.
To close this order and get out of the market highlight the eur/usd by placing the mouse over the pair and right click.
A close tab will be appear. highlight the close tab and click close. After which a close market order will be created.. Click OK and your position is closed.
Comments: In our next update we will continue laying out the nuts and bolts, sign up real account, how to read signals, when to get in the market to guarantee a good profit, trade with news, how to read the charts
cjsystems
The upper left hand corner of the platform has the currency pairs, you can scroll up and down until you find your selected pair. The top right hand side of the platform has trade account balance, equity, profit /loss tabs The bottom area is the terminal where all live trades are displayed.
There are 2 type of trade accounts a) Demo trade account b) Real trade account
The demo practice account otherwise called paper trading is the account used by NEWBIES to trade in a live market in order to gain hands on experience. After 3-4 weeks of paper trading or when ever NEWBIES are comfortable with their developed skills and techniques then they are ready to upgrade from a Demo account to Real account to begin trading for real profit.
Before trading demo or real account there are a few things to keep in mind. a) Leverages — Forex markets allow large leverages on each account traded. As a result traders take substantial positions without making large investment. The leverage acts as a double edged sword which results in large gains at times and large losses at other times. Traders are required to signed RISK/REWARD instructions saying they understand the process before they are allowed to trade the forex market.
a)Forex currency are traded in units of mini-lots and lots. Each currency pair has a BUY tab for going long and a SELL tab for going short.
To begin paper trading any currency pair place your mouse on top of the BUY tab or The SELL tab and click once. After clicking the pair, a market order will be created. Complete the market order by entering 1-100 mini lots or lots in the amount(k) column then click OK
. Traders can only buy or sell the same pair. Traders cannot buy and sell the same pair at the same time. In this example a BUY order of eur/usd currency pair has been placed. After clicking this pair a market order is created Complete the market order by entering 5 mini lots in the amount(k) column then click OK
The eur/usd currency pair is now displayed on the terminal (bottom area of the platform). From left to right on the terminal we have symbol- eur/usd amount-in our case we bought 5 mini lots. Avgo-current market price. close- This is your profit or loss figure when closing your order. Gross p/l- is the amount of gain since entering the market.
To close this order and get out of the market highlight the eur/usd by placing the mouse over the pair and right click.
A close tab will be appear. highlight the close tab and click close. After which a close market order will be created.. Click OK and your position is closed.
Comments: In our next update we will continue laying out the nuts and bolts, sign up real account, how to read signals, when to get in the market to guarantee a good profit, trade with news, how to read the charts
cjsystems
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