Forex Trading Guide for New Traders in the Market
29 Apr, 2012, 07:01 ET
SINGAPORE, April 30, 2012 /PRNewswire/ --
Foreign exchange is the world's most traded financial market. The act of trading forex trading essentially means buying one currency while selling another at the same time; primarily for the purpose of speculation.
Use this guide as a starting point for new traders looking to begin trading the foreign exchange market.
You can also learn how to trade forex with IFX Singapore.
Research & Analyze the Forex Market
It is best to know how to use the technical and fundamental analysis tools available to you through IFX Singapore, before you place a trade. This gives you the ability to potentially limit your risk and trade more effectively by having a greater knowledge of how different factors can affect the market's price movement.
Forex Trading Plan & Tools
IFX Singapore has a number of leading trading platforms so you can accomplish more reliable trading results - one of which is the Advantage Trader platform.
Advantage Trader is a downloadable platform which aims to be convenient for rapid and accurate analysis, giving you benefits from a number of multiple professional features, such as real-time price feeds and multiple time frame analysis to uncover potential future market directions.
IFX Advantage Trader FX Platform lets you customize its:
- Platform layout
- Charting package
- Price Alert
It also offers access to:
- Advanced drawing tools
- Risk management tools
- 100+ advanced technical indicator packages
- Deal Thru Charts
Create your own trading strategies by effectively using over 100+ built in strategies, whilst implementing the IFX Auto Trading technology.
Manage Forex Trading Risk
You can manage your risk of trading by setting stop and limit orders which allows you to protect your potential profits.
You need to recognize that when you place a trade you won't always be successful. So when you find yourself in a losing situation; it can become easy to let losses accumulate, in the hope that prices will turn around.
However, experienced traders are more likely to cut their losses quickly and run their profits by using their trading strategy and plan.
Forex trading comes with a high level of risk and is not suitable for some investors.
You should consider your financial resources, risk appetite, investment objectives and other relevant circumstances carefully before trading. It's possible you could lose some or all of your investments, including your initial deposits.
IFX is a trading name of City Index Asia Pte Limited. City Index is a leading global provider of margined foreign exchange, CFD trading and in the UK, spread betting. As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. To learn more visit: http://www.cityindex.com.sg/
SOURCE IFX Singapore
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