The first time that I encountered Forex, I thought that it is another form of GPT or “Get Paid to” Programs. The first FX Broker that I signed-up for an account is the Marketiva.
They are offering a worth of $5 dollar bonus during that time and I am happy to be able to claim it without any problem.
Trying to trade for the first time, I had immediately lost my free $5 dollar bonus and I came to realize that trading the Forex market is not an easy thing to do.
There are a few requirements that you must have before you can participate on the trading business and they are the following:
1. Trading Platform
If you have found the Broker that you can trust then they will provide you their trading platform which is also known as “Deal or Trade Station”.
There are a few requirements that you must have before you can participate on the trading business and they are the following:
1. Trading Platform
If you have found the Broker that you can trust then they will provide you their trading platform which is also known as “Deal or Trade Station”.
This program will allow you to have access on various types of currencies and enable you to place your trades.
Details such as Dealing Rates, Open Trades, Entry Orders and Account Balance are also provided.
The most important part of the platform is the charts with some default sets of indicator tools that you can use.
The most important part of the platform is the charts with some default sets of indicator tools that you can use.
There are three different types of charts which are the Line, Bar, and Candle Sticks and they come in multiple different time frames which are the following:
1, 5, 10, 15, 30, minutes, 1 hour, 4 hours, daily, weekly and monthly
Technical traders have various strategies where they use different time frames in analyzing their best possible entry and exit price level.
The Marketiva Platform contains all the important tools required but most traders prefers to use the MT4 or Meta Trader 4 because you can fully customize your own script that will automatically run your trades.
1, 5, 10, 15, 30, minutes, 1 hour, 4 hours, daily, weekly and monthly
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| Chart Time Frame |
Technical traders have various strategies where they use different time frames in analyzing their best possible entry and exit price level.
The Marketiva Platform contains all the important tools required but most traders prefers to use the MT4 or Meta Trader 4 because you can fully customize your own script that will automatically run your trades.
With the addition of those new FX Brokers, they also have their own unique trading platform.
2. Computer
You must have your own computer where renting on an internet shop is not advisable because your account can be stolen.
2. Computer
You must have your own computer where renting on an internet shop is not advisable because your account can be stolen.
Anyway, you must have a very fast computer where Pentium 3 or higher is recommended. As for the monitor, you are free to use any sized as long as you are comfortable on viewing your trading platform.
The minimum requirement for the RAM is 256 MB. Take note the insufficient RAM memory could cause your computer to function at a very slow speed.
3. Internet
You must have an internet connection that is always stable. Broadband or ADSL and Cable are recommended while Dial-up can also be used but with some factors that are needed to be considered.
4. Operating Software
Most trading platform are designed to work on Windows versions but is could also work on their types of Operating System such as Linux but it will involve you to have some technical configuration.
Moreover, the most important requirement of all is that you must have knowledge and experience before taking Forex as a serious business.
3. Internet
You must have an internet connection that is always stable. Broadband or ADSL and Cable are recommended while Dial-up can also be used but with some factors that are needed to be considered.
4. Operating Software
Most trading platform are designed to work on Windows versions but is could also work on their types of Operating System such as Linux but it will involve you to have some technical configuration.
Moreover, the most important requirement of all is that you must have knowledge and experience before taking Forex as a serious business.
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