Futures Currency Trading Advice

If you’re a person who have difficulties in learning by reading a bunch of theories, step by step guidance may be the one that you need. In other words, you’ll learn better with a good forex trading tutorial that split the lessons in a few steps and make you do the steps yourself so it can be easier to understand.

Nevertheless, if you’re not familiar with forex trading at all, you still have to start with theories such as definition of leverage, pips, currency pair, etc. But since the motto of a good forex trading tutorial is “make the student do it”, here’s what you should do:

1. Open a demo account in an online forex broker that uses MetaTrader4 trading platform. Here are some suggestions: Alpari, and FXCM who offer two types of trading platform, so make sure you choose MetaTrader4 (also known as MT4).

2. After you install the platform, log in and check the platform interface. With the trading platform before you, it’ll be easier to explain something and you can test it right away.

By default, the top left area is the currency pair column. The “symbol” column consist of currency pairs such as USDCHF (US Dollar and Swiss Franc), GBPUSD (British Pound Sterling and US Dollar), EURUSD (Euro and US Dollar), and so on.

The next column is “bid” (also known as “sell”) column; it represents how much you will get for selling the first futures currency trading. Example: sell EURUSD at bid rate 1.362 means you spend EUR 1 to gain USD 1.362.

The “ask” (also known as “buy”) column represents how much you must spend the second currency to gain the first futures currency trading. Example: buy EURUSD at ask rate 1.378 means you spend USD 1.378 to gain EUR 1.

Now right click on one of the currency pair and click “new order”. A new order window will pop out and you’ll see two big “sell” and “buy” button. Try to click one of them and you’ll get a confirmation message that you have executed the order successfully. You can check your trade information at the “trade” tab at the bottom of your

MT4 platform.

A forex trading tutorial that makes the student always actively participate in the lesson can make it easier for a new trader to understand how futures currency trading works. If you can understand your trading platform interface and their uses at the end of the tutorial, you have mastered the basis of futures currency trading.

Jasmin Agura
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Another mixed week with my two demo accounts. My Alpari demo account has now lost money however this was not due to Fapturbo, but was the result of testing another scalper on the same account. What it does however prove is the good futures currency trading practice of running new Robot AIs, and Indicators on a demo system before going live.

My Forex.com demo account fared well showing a small profit over the week when most pairs were moving sideways. Once again the week ended with a short carry over trade USD/EUR showing a loss but that is expected to reverse in the coming week.

David Ogden -Helping People Help Themselves.
Futures Currency Trading

My trading experience

Yesterday was an interesting day as I was trying out a new broker Forex.com and so was able to compare it to Alpari UK. The most obvious difference is the changes in spread, for example Alpari spread range from 0.9-1.2 in demo mode compared with Forex.com of 2-3 which can make a different to your profit and loss.

Alpari micro account works with 1:500 leverage which works well with micro lots of 0.01 meaning that each trade is around $2 controlling $1,000 of currency, so that losses and gains are conservative. I am gaining less than $1 per trade and maximum loss is around $3 with a starting account of $200. Yesterday seemed particularly bad with a couple of loses and an overall gain of $1.

My demo account with Forex started with $3,000 and using the FapTurbo money management system the first trade was a 0.2 lot size which meant I was controlling $20,000, my first trade lost me $5 so I actually reduced my lot sizes downwards and removed the automated money management in order to play with the setting. It was interesting to know that even trading the same currency pairs, the robots entered trades at different time to scalp profits.

David Ogden - Helping people help themselves
Futures Currency Trading
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