How make money on Forex market?

How make money on Forex market professionals?

The Forex market is the most liquid financial market in the world and with the most projection in the future. During the last 5 years it has had a share of more than 150% growth, currently has a daily trading volumes about 4 trillion dollars a day. But no one creates is that it is easy to make money in the Forex market despite the high daily volume that is negotiated, or magic recipes there are neither hidden formulas to make money in this financial market or any other. However with a good methodology and work hard constantly, you can make money in the Forex market. We will then develop a few steps to follow to establish a methodology of work and aspects to consider before opening a position.

Forex market

As we all know to Trade Forex it is necessary to operate with currency pairs, they can be any type of coins but must be borne in mind that the euro/dollar is 85% of all trading on Forex on a percentage of 200%, the trading of the currency pairs. Therefore it is important to study well the euro / dollar to familiar with its operation.

How the Forex professionals work?

This tends to be the daily routine of the professionals who every day makes money in Forex:

They are continuously informed on the major currencies and traded pairs: EUR/USD, USD/JPY and GBP/USD.

They are times of opening and closing of the various sessions, Sunday 23 hours 05 minutes, opening and closing bags, namely 9 hours and 15 hours 30 minutes for openings and the 17 hours 30 minutes and 22 hours to close, close daily from the market to 23 h, etc. A Spanish investor has to know that the largest movement occurs in the early hours of the morning, between seven and eight, which is when to start the European session of the Forex market. And once decided that now is our time.

They take into account the economic calendar of news and economic data: data on employment and unemployment, GDP, manufacturing production, ECB, FED, etc.

They know the changes in interest rates.

They carried out technical and fundamental analysis to operate in the Forex market

Mark strategies and trading systems: directional, scalping, counteract, etc.

Brokers and trading platforms: what to choose? What is best for each profile? What is the most appropriate for each task?

Daily appear new techniques of investment that should know and learn. The knowledge above the average is that makes the difference between profit and loss.

Aspects to consider before opening a Forex position.

Once decided that this is our time, at least we will take into account three aspects before opening a position:

See what has happened in the Asian session and what factors have moved markets

Work agenda is vital to a foreign operator, must know the news that day. I.e. should be clear economic agenda and the data will be published. For example, figures of employment, GDP, unemployment, inflation, PMI, at both sides of the Atlantic.

Perform a technical analysis of the currency pair is going to invest. It is important to see where are the crosses of currency in the what we are going to operate to try to identify possible technical patterns that can shoot currencies or press them down.

Forex steps 

6 tips to make money in Forex

Below are 6 tips which must be taken into account in order to achieve to make money Forex:

Choose a good forex broker

Most brokers offer security for your money, are like a Bank, but most allow only capitals. At the beginning you need to find a good Broker that allows operating in small accounts (micro accounts) in this way will be able to practice money management intelligently. A good broker gives the option to make many mini lots of investment.

Practice with the demo

All the broker provide demo to practice with play money. Operations are real, and you can see their progress without risking anything.

It is important to have patience

You need much more than a year of uninterrupted practice, and it is recommended to start with a small capital.

Think in percentages

Especially when operating in a small account. Of course, earn 50 euros from an account of € 1,000 does not sound much, but in reality you just increase your capital to 5%. That is more than what some banks pay in a year for deposits.

Preserve capital setting limits

It should always have an exit plan, for operations that are earning for them who are losing both.

You will always have time, not always money

No matter how long takes us to learn how to operate properly in Forex, there is worry that the market will always exist.