Advertisements

How Do You Make Money With Forex Trading in 2021?

WHAT IS FOREX?

Forex, also known as foreign exchange, FX, or currency trading, is a decentralized global market where the world buys and sells currency. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. LEARN MORE

Make money with forex trading

WHY TRADE FOREX?

The foreign currency exchange offers an abundance of potential opportunities for veteran traders as well as those new to the markets. If you are searching for a target-rich environment for active trading, look no further than the forex.


why trade in Forex

FOREX CURRENCY PAIRS

AUD/CAD AUD/CHF AUD/JPY      AUD/NZD     AUD/USD CAD/CHF
CAD/JPY         CHF/JPY       EUR/AUD  EUR/CAD EUR/CHF EUR/GBP
EUR/JPY         EUR/NOK     EUR/NZD   EUR/SEK EUR/TRY EUR/USD
GBP/AUD GBP/CAD GBP/CHF GBP/JPY GBP/NZD GBP/USD
NZD/CAD NZD/CHF NZD/JPY     NZD/USD TRY/JPY USD/CAD
USD/CHF USD/CNH USD/ILS*     USD/JPY   USD/MXN USD/NOK
USD/SEK USD/TRY USD/ZAR ZAR/JPY

The majors and the commodity pairs are the most liquid and most widely traded currency pairs in the forex market. These pairs and their combinations (EUR/JPY, GBP/JPY, and EUR/GBP) make up the vast majority of all trading on the forex. Due to the fact they attract the largest volume of buyers and sellers, spreads are typically the tightest.


  • Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF
  • Commodity Pairs: AUD/USD, USD/CAD, NZD/USD

However, there are other currency pairs that allow you to take advantage of macroeconomic events in specific international markets, such as the USD/MXN (US Dollar/Mexican Peso).

How Do Make Money With Forex Trading?


The international currency trade furnishes participants with an unparalleled collection of opportunities. Given the depth and liquidity of the forex, it is possible to implement almost any viable strategy with maximum efficiency. From short-term intraday approaches to multi-session swing trading plans, profiting from periodic exchange rate fluctuations can become not only possible but probable.


Perhaps the single most beneficial attribute of the forex is flexibility. Unlike in more conventional trading modules such as stocks, forex trading profits are not limited only to buying low and selling high. You are able to make money from being either long or short in a specific market, increasing the number of potential trading opportunities exponentially.


Whether your outlook on a currency is bullish or bearish, you have the ability to capitalize upon the idea. Buy low and sell high or sell high and buy low ― the forex does not limit your trading options or your money-making potential.


How to calculate your Forex Profit?

As it pertains to any business ― active trading or otherwise ― profit is the difference between gains and losses minus operating expenses. The beauty of forex trading is that quantifying profit is straightforward because expenses are limited, and gains and losses are easily accounted for.


The best way to manage profit is through regularly referencing your trading platform. Software suites such as Trading Station, MetaTrader 4, ZuluTrade, and NinjaTrader calculate gains and losses on a pip-by-pip basis. As the market moves, your account balance is updated automatically via the functionality of your platform. Factoring in expenses is also a routine task given FXCM's low spreads and Active Trader's pricing structures.


At the end of the day, making money is the goal of any trader. With FXCM, you will always know your P&L, freeing up time for active trading.
If you are an active forex trader, then producing positive returns is your job. Fortunately, figuring P&L doesn't have to be an exhaustive task. All you need is your account currency, pair, trade size, and opening/closing prices—the Profit Calculator does the rest.


When it comes to risk management in forex trading, it's all about pip value. Knowing how much your trade's pips are worth is key to not overextending your account. The Pip Calculator can help you do just that, automatically. In addition, it is always a good idea to know where your account stands in relation to utilized margin and brokerage requirements. While doing math longhand is a challenge, the Margin Calculator makes short work of even the most intricate positions.


One of the greatest advantages of trading forex in the modern era is access to technology that aids in the application of indicators such as Pivot Points. Pivot points are a go-to technical tool for traders interested in building unique support and resistance levels to use for market entry or exit. Whether you practice a Classic, Woodie's, Demark's, or Camarilla methodology, the Pivot Point Calculator can quickly generate a set of practical values.

Why Trade With Exness?

Exness is a global leader in the provision of forex and CFD market access. If you are an active trader or a newcomer anxious to get started, our award-winning service suite stands ready to help you achieve your goals in the marketplace.

why trade with exness

HERE ARE THE BENEFITS OF TRADING WITH FXCM:

Diversity of options: Trade an array of popular currency pairs and CFDs with improved execution and no restrictions for stop and limit orders on major indices.

Powerful Trading Platforms: Engage the markets with confidence via FXCM's flagship Trading Station platform. It is available in desktop, mobile, or the Mac-friendly Trading Station Web 2.0 format. FXCM also supports MetaTrader 4 and the advanced functionality of Expert Advisors.

In addition to these perks, all live account holders enjoy access to Free Live Trading Signals courtesy of FXCM PLUS. Featuring proprietary signals and analytics, FXCM PLUS has everything you need to maximize your performance in the ultra-competitive forex environment. If you are an active trader, you can be eligible for different tier pricing. Learn More

Quick info

  • – Founded: 2008
  • – Regulator: FSA, Seychelles
  • – Minimum deposit: $1
  • – Leverage: Up to 1:2000
  • – Average spread: 0 (Zero and Raw spread) 0.3 – Standard
  • – Platforms: MT4, MT5, Web, Mobile  

Why trade forex with Exness.

– Super tight spreads
– Instant automated Withdrawals and deposits 24/7
– Multiple withdrawal and deposit methods
– Negative balance protection
– Regulated broker
– Mpesa and Mobile money broker  
– Funding in local currency

Risk Warning: Forex service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.


Post a Comment

0 Comments

Ad Code