LET'S TRADE! LET'S BUILD OUR FUTURE! Forex Trading Tips (1)

So, have you signed up AGEA? Have you started trading? You don't know how to trade yet? Now, I'll tell you how. But, first of all, make sure that you have uploaded your ID image and address image. They are needed to verify the authenticity of your AGEA account. Besides, you won't be able to start trading if you haven't uploaded them yet.

The first thing you have to know is how to read this following picture:

Currency, is always in pair and called "pairs". If USD is written first (base currency), then it's called "Direct Currency", for example: USD/JPY, USD/CAD, etc. On the contrary, If USD is written last (or we can call it "counter currency"), it's called "Indirect Currency", for example: GBP/USD, EUR/USD, and so on.

There is another kind of currency; "Cross Rate". It means USD is not traded in pair, for example: EUR/GBP, GBP/JPY, etc. Just look at the table above, you'll see some pairs and if you have understood what I told you before, you can conclude whether it is Direct, Indirect, of Cross Rate.

Let's take action, now! Pay attention to "Bid" and "Offer" column. Bid means you want to SELL the pairs and Offer means you want to BUY an order. "Last" informs you the last closed price. Just click the table if you want to SELL or BUY the pairs.

"Change" describes how far the price moves. Each pairs has its own change. It could be rising (positive change) or falling. In AGEA, positive change is represented by green color. And if negative change happens, the color turns red.

If you sell a pairs, it means you're expecting to take profit when the price of the pairs falls down. When you buy it, you will get profit if the price moves up. If you want to get some information about the price movement, you can click fxstreet.com, instaforex.com, and others. Otherwise, you can see the highest price or the lowest one in "high" and "low" column. It will help you to decide what action you should take.

But there are more accurate ways to decide whether to sell or buy a pairs. They are learned by understanding the fundamental and technical analysis. We'll discuss about it on the next post, see you....