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This Is How Forex Trading Works

This Is How Forex Trading Works

The way forex works are actually simple. For those of you who have experience in mutual fund investment, especially those who have saved dollars, of course learning forex trading is not difficult. There is one term in the workings of forex that must be known, namely PIP (Percentage in Point). PIP shows 4 decimal places in foreign currencies, except for the Japanese yen (JPY) which applies to 2 decimal places. PIP is the point of increase or decrease in exchange rates traded from opening to closing of the transaction. For example, the transaction opens at 1,500, then the chart jumps to 1,550 at closing. This means an increase of 20 PIP, which is our profit as a trader. If it goes down, it means we lose or lose according to the PIP value In the meantime, if you want to do this investment carefully, we suggest you read more investment news on credible websites.

Brokers usually provide special calculators for forex to calculate profits or losses in trading. But they also have an application that automatically calculates profit or loss in trader’s transactions.

They also provide demos for those who want to learn about transactions in forex trading. Beginners can contact brokers to try the demo for transaction training.

From this demo, we can see how forex works. In the smartphone application, there is already a forex game for novice investors. One of them is the Forex Game on Playstore.

Forex is not recommended for those who want to try. Better to learn forex trading well first, or even wiser is to equip yourself with other investments that are similar but simpler but the risk is lower. Call it like a mutual fund.

After understanding mutual funds, try to go to stock. The goal is just not to be surprised at very high forex risk.

After understanding the ins and outs and it is solid to plunge into this investment, make sure the selected broker is registered on the Bappebti website. It’s nothing, a lot of agencies are closed by the authorities, but in the name of himself as a broker.

You must know that forex is not a magical tool for creating money.

It takes effort and intentions and expertise to reap profits.

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