Opening a trading account, a person chooses the currency in which his capital will be in the deposit. At the moment, the assortment of deposit currencies is quite large, and some brokerage companies suggest to reflect the balance of accounts even in gold. Since the clients of organizations can be citizens of a huge number of countries, then it is doubtful that the convenience of replenishing the deposit only in some of the monetary units. Even the USD dollar, which is distributed all over the world, is not convenient for all people who want to open a trading account. The customer may wish to have a deposit in the national currency.
Companies that are constantly interested in the needs of their potential customers are trying to expand the list of currencies in which the balance of accounts can be displayed. US Dollars, Russian Rubles, Euros, Gold, is just a short list of popular options available to traders. As a rule, an account can be replenished with any money signs, and in the future funds are converted into a unit of deposit.
The most common in the foreign exchange market are deposits opened in US dollars. Some US companies generally do not support the ability to open accounts in any currency other than the dollar, the euro and the pound sterling. Strangely enough, but large American brokers are in no hurry to provide their customers with a wide choice of deposit currencies, no options for replenishing the account. Conservatism in the rules of working with a client is present in such brokerage organizations.
DCs, which focus primarily on the Russian market, on the contrary, seek to provide their customers with a wider range of services, opportunities. Here you can not only get a balance with gold, but also refuse to pay swap, and take advantage of the return service part of the spread spent in trade. The domestic exchange rates that are taken into account when converting are generally quite loyal to traders. Brokers often carry out various promotions aimed at motivating clients to replenish the account in ways that are convenient for the company. In this case, money transfers to the organization are made without the commission of payment systems.
The choice of trading goals in the currency market
When entering into Forex agreements, we often issue Take Profit and Stop Loss orders. In this case, there is a need to determine the price values for which one or another order will be established. There are different ways to determine the optimal placement of Take Profit and Stop Loss, but are they all effective? For example, some speculators can deduct price levels that will later turn into a limiter of profit and loss. Other experts for work on the Forex choose some fixed values, using them further in their work. Such values are most often selected as a result of testing the strategy on the history.
What are the uncomfortable fixed warranties? 1. First, such figures are likely to be groundless, except for testing on history, which means that we may face a "fit". In this case, the question arises, and why exactly such figures are chosen, and not some other?
2. Secondly, the flexibility to work with similar deals disappears, each position will be considered in the typical case, and not individually.
A more flexible method is to determine the values of Take Profit and Stop Loss for each specific position. In this case, the trading system of the trader necessarily contains the principle of deduction of the point of entry for the transaction or exit from it. Each new trading operation can begin not only with the detection of a signal for purchase or sale, but also for determining the market values that will be presented by us Take Profit and Stop Loss.
The goal is the price we expect to achieve. After analyzing the situation, the trader determines the value of the price to which the market should come. In fact, the resulting point is calculated and will be a Take Profit order. If the position is closed on Take Profit with a profit (not always the operation can be profitable even with the given order), the speculator can say that his market goal has been achieved.
Choosing a trading goal is part of the system used by the person in the work. In the absence of such an element in the strategy, one can say that the trader's transactions have no goals. Such cases are quite possible, in particular, work on Forex without Take Profit, but using trailing foot. In such a situation, a person as if pushing the market price with his warrant. The deal will be closed only if the price starts to unfold in the opposite direction.
Brokerage companies and beginners
What only do not brokerage companies to find new customers. Online advertising, contests, affiliate programs and more in an arsenal of organizations looking for traders. Newbies in the market often have excessive expectations that appear not by chance. Advertising tells people how to easily work in the market, how easy it is to make money. Omissions form the beginnings of speculators of the idea of trading, as a simple process, brings a lot of profit. In fact, stable earnings on Forex are a rare occurrence. Let the beginner think that a profit of + 50% per month is not a big value, but reality dictates its figures.
Professional traders often find income at + 10% per month a very decent option. Achieving such results is not easy if you look at the job in the long run. Show monthly income when working in the market, it is already an indicator of high professionalism of a person. Newcomers can also earn 50% in one month, but in the next month they'll lose their entire deposit. Stability is unavailable for newcomers who have just arrived.
Beginners speculators are happy to take free training courses, take bonus accounts, take part in contests. Thus, the broker gets an opportunity to really get interested in people who came to Forex. Newcomers do not understand that paying attention to low spreads, they do not take into account the value of the requester, which can bring more inconvenience in trade than an overestimated commission. Companies can also be understood, because they have competition between themselves. Organizations are constantly inventing new opportunities to engage people. Laying clients of other companies is not easy, because these speculators are already familiar with the terms of the various brokers. It is much easier to look for new traders who are only familiar with the market.
It is for nothing that training centers, analytical departments, which provide all kinds of services to potential clients, are opened. Everyone will happily agree that he will be taught free to make money on the foreign exchange market. Brokers take this need by offering their options. Their courses, as a rule, are introductory classes aimed at familiarizing a person with Forex in general. It is desirable to understand that the broker does not set the goal of teaching the client to earn, his task is to introduce the speculator to the market, to provide him with all the necessary information to start work .