How to make money on the difference in exchange rates? The world does not stand still, there are various technological devices, new occupations and ways of obtaining money. Despite the negative image of earnings in the Network, as well as aggressive advertising and the imposition of various services, to work and earn money remotely from home, is quite real. However, this requires effort. This article will help you learn about how to earn money on the currency exchange rate.
About the different ways
The article will talk about how to make money on the exchange rate. The following is a small brief overview of everything that is connected with it. On the Russian market popular two key method – Forex and binary options.
Both tools allow you to earn on exchange rates on the Internet, but they differ in their working principle. In the case of “Forex” client has more options for risk management and the binary options allow you to make more profit in a short period of time.
This is quite a controversial tool. On the one hand, it allows to trader to ninety, and in some cases one hundred percent of the profits from their investments just one minute. However, it is not so simple. During the same period, you can lose the entire amount of investments and to ultimately round zero, wasted money and nerves.
The principle is simple only at first glance. You need to choose the direction where is the price of one currency against another, for example, after one minute from the current time. But to do that, you will need to spend a lot of time on training, learn technical analysis and many other nuances. You may have to move to a long term binary options, for example, from five minutes or even a few hours. The term of the contract is called expiration. This is the time it takes to close the deal. The binary options market is an example of how to make money on the currency exchange rate on the Internet.
The principle of operation is similar to binary options, but there are rules. In General Forex is designed for longer-term periods usually not exceeding one day. That is, positions are opened for a few hours, rarely for several days.
By the way, to move the position to the following day so easy; you have to pay an additional fee. The main difference between “Forex trading” from binary options trading less risky and not so profitable trades. Opening a position, you will not be able to get more profit or lose everything in a moment, but only pay a small Commission, which is called the “spread.”
If you are really interested in how to make money on the currency exchange rate, particular attention should be paid to where you are trading. Brokers there is a great variety, however, more than half of them are scammers, and they better not mess with. If you see Intrusive ads promising you millions practically just in a short period of time, it is worth considering. Most brokers use dirty methods to attract customers, and this is not the main one.
You should be wary of calls to managers. Most likely, they will offer any preferential terms, absurd bonuses or will conduct your trading. Immediately give up, as it is a Scam, and at best you'll just waste time and at worst will convince you to invest big money and, most likely, will not bring them back. Pay attention to the license.
Especially good if they have Russian and European certificates. Do not neglect search engines. It is better to spend a couple of minutes on the websites of specialized regulators to verify the license than to lose money and a lot of time.
How not to fall for the deception
In addition to the above calls from brokers and cunning of advertising, there are other tricks. You should be wary of various paid teachers, who for hundreds of dollars and hours of your time promises to teach you how to earn on the difference in exchange rates. Do not get fooled by the tricks of swindlers. There is, for example, the various “magic” signals. It's supposedly accurate predictions of the courses at a particular point in time. However, practice shows that this is impossible. Otherwise the whole industry would have no meaning, because the terms would be millionaires. And the Creator of such a system would not sell it for a few dozen dollars or a few hundred rubles, because, it would be advantageous to independently capitalize on this by hiding as long as possible. As for the regular forecasting of the future, it is quite possible, but requires long and difficult training.
How to make money on the currency exchange rate?
First you need to know how to choose a broker and to perceive the information. Then you should learn technical and fundamental analysis. This is probably the main secrets of earnings on currency fluctuations. Training options may be different, however, as mentioned above, beware of fraud. If a person wants to obtain a certain amount of lessons, it does not guarantee that they will help you.
Only a small percentage pay a guru really able to help you, but these people, as a rule, take as his disciples, friends and relatives or asking a lot of money, which is quite logical. For the time a Pro can earn more than if would be for someone to learn, especially from scratch. The best way to understand how you can make money on the exchange rate, independent reading of various information. No more than will practice, for example on the virtual account.
This is the best way to cool the ardor of the novice trader. When a person commits at least a hundred operations, it's likely that you will come to the understanding that he was little versed in such activities. Demo accounts allow you to trade with virtual. In other words, before you real quotes for currency pairs, but you will not lose your money and will be able to practice. Earn on demo, of course, also fail.
It is recommended to use such account for testing strategies and review. Of course, working with real money, the trader takes the process differently, after all, begins to manifest psychological moment, for example excitement, or, conversely, the fear of losing money. However, the longer you linger on a demo account, the better for you.
All that concerns the charts, various indicators and other useful things is here. The web a variety of useful literature on the subject. There are whole free schools, various trader chat rooms and forums, as well as useful training videos you can watch for free. Without the basic foundations of technical analysis it is better not even to begin to engage in trading. Japanese candlesticks different price limits, trading volumes, indices, you will likely need.
To learn the technical analysis perfectly is impossible, so you should develop constantly. With regard to at least an appropriate level, you will need from six months to a year, but the exact timing will depend on the specific person. There are people who have mastered the trading for more than five years and only then came to a steady income. It is important not just to wonder about how to earn on exchange rates, but actually something to do. The fact that the price is undulating, and the market is constantly in the dynamics, not so difficult to understand, but to give an adequate prediction at least for the next hour is difficult. This will require considerable effort and perseverance.
This point is not less important and necessary. In the same way as technical analysis, he gives the answer to the question about how to earn on rate fluctuations of currencies. The essence of fundamental analysis lies in the news. Every hour in the world there are dozens of landmark economic events that affect one or even a few currency pairs. If you decided to work with shares, you should pay attention not only on the General financial news of a particular state, but also on the financial statements, as well as the occurrence of the company whose bonds you want to buy.
It is important to learn how to properly interpret the event, understand when and how to respond to incoming information. For economic news, there are some sites and online portals where traders can obtain useful and relevant information absolutely free. Fundamental analysis and technical can contradict each other. This is normal, especially in the time of occurrence of strong events, such as at various summits and forums. In such times it is better to postpone trading for a couple of hours, and this insures not only the traders but also the brokers themselves. They can close sites or to reduce payments on transactions. Splurging doesn't benefit anyone.
In fact, you don't make the real deal. This is a game within a broker, however, it receives the current prices on currency pairs from special firms. It is important to know that your operations and transactions of other traders have no real impact on the value of currencies. In fact, you're making bets about the same as it does with football or another event, just as a bookmaker acts as a broker.
Many present it as real trades, but the real market requires hundreds of thousands of dollars. Currency exchange usually are overseas or require a special contract individuals with the Bank. However, knowledge and tools that you can potentially get a more affordable brokers will help you to move on, and you can use them where you want. You can try yourself on the stock exchange, on the derivatives market to trade real futures, in investment. Fundamental and technical analysis will work everywhere.
Psychology and trading
This is probably one of the most important and key moments. Most importantly – be able to distinguish ridiculous game and serious work. With this approach, any business will go well, and not only trading, but it is about him. Do not be lazy to read special forums, books, publications, learn to draw trend lines, analyze charts and news. As for gambling, he kills all the work and becomes one of the main obstacles to your success. Remember that trading is not a casino, not the roulette and not a magic way to make money. This is the same work as any other.
Here, as elsewhere, some get good money, and the rest at best remain at the same place where we started. Do not try to “win back” losses or lightning to increase investment. It is important to dose risk, try to limit the potential loss, not to make any steps if you are not sure in them. However, you need to be able to overcome your fear. Someone is all exactly the opposite: in place of passion comes the numbness and the fear of opening a trade. So, you need to understand yourself, to gradually increase investment. The Deposit must not cause any mental discomfort. In other words, you should start with the amount that you do not mind.
Is it possible to make money on the currency exchange rate? The answer is Yes. However, it is possible to lose a lot of money. Everything will depend on you, your efforts, time, theoretical and practical part of the work. Trading is a great work. If the soul does not lie to this lesson, it is better not to torment yourself.
But if you really interesting to see the price, to analyze the different currency pairs, read the news, make predictions and Refine their skills in this area, over time you will begin to make good profit. It remains to wish you beginners luck, but a few better times to think before to start to do something.