It is no news that you can now trade foreign Exchange (forex) using your android phones. It Sound unbelievable ? Sure you can pocket some foreign exchange using your IOS, Androids, smartphones , you don’t need a desk top or Laptops before you can now trade forex.
It’s like I’m making no sense with this piece of information if my audience don’t have a fore-knowledge of foreign exchange. Forex means foreign exchange, it is a way of making quick, fast and legal money trading currencies. In forex trading a currency is check over another the base currency and the counter currency. The value of one is check over the other on the nearest increase. Successfully trading the forex market on an intraday basis requires precision and a very careful selection of trades.forex is high risk high yield investment
The secrete of forex is just perseverance ,little greed,focus and good orientation of the market .Before you can trade forex you must have gone for a workshop or serminar to get the technical know-how to trade the market,you must have register with a forex broker and fund your live account and also practice on a demo account for aleast two month before trading with the live account.
A forex trader should be able to place trade,analize the market befroe placing a trade. A trader should tade the news looking at the fundamental analysis and also the technical analys using the forex indicators such as MACD( Moving Average convergence and divergence) ,Japanese candles,bolingerband , RSI…
These forex indicator are important for you to turn a minimum of $200 to $500 or more in a month , that sounds incredible but possible. You can either be a part-time or a full-time forex trader depending on your daily schedule.
You might decide to be active or passive. Active when you trade on your personal account and passive when you allow an expert trader trade for you while you watch your money grow.
Forex is not a get rich quick scheme you need to learn to earn. Learning the nitigrity would enable you minimize the risk involve in trading forex. You need a basic knowledge of how the market works before investing your hard earned money.
How to start trading forex on your phone
To start trading you need a broker. There are a lot of forex brokers, it is your choice to register with one and make a minimum deposit of $100-$250 depending on the broker but I will recommend Alpari Forex Broker. Register with Alpari Broker. Open a demo account and live account. You automatically have $5,000,000 in your demo account to practice your trading strategy and for training purposes. The money in the demo is virtual money if you lose it, its not a problem. You would be advice to fund your live forex account with the minimum Deposit of $100 after you have mastered the market.
You will have to download metatrader 4 or 5 on Google Play Store this is the platform in which you can start trading forex on your smartphone.
With your smartphone you can trade anywhere you go provided you have internet connection. Trading is made easy with you smartphone for huge success in forex market.