The most attractive tools of the trade on the forex.
Selecting the tools of the trade on the forex is no less important than all the other options strategies, sometimes it is the correct asset may be the secret to successful trading.
At what should not get hung up on standard tools, you can try the exotic and who knows maybe you will attract trade binary options or futures.
At the initial stage it is necessary to try all the available options, and then has stopped on the most suitable to hone their skills.
An overview of what you can trade in the trader’s terminal.
Why in the trader terminal, and not just in the forex? It’s pretty simple, because in the forex market trade only currency, but in the terminal, you can work with – currencies, metals, futures, options, indices and even popular companies shares.
Let’s start with an overview of the most suitable options for the novice trader.
• currencies or currency pairs – classic forex, your choice of a few dozen currency pairs, but one should choose only the most popular, exotic to trade is not highly desirable due to the large spread (commission).
The most popular currency pairs – EUR / USD, USD / JPY, GBR / USD, AUD / USD, as well as the pair includes at EUR – EUR / USD, EUR / JPY, as well as other options.
Beginners can try their hand at trading the ruble USD / RUB, but this should be done only if you are sure the current trends and use the leverage not exceeding 1:50.
• Binary options – is one way to carry out transactions, in its essence it is similar to wagering at the bookmaker. For profit you need to guess the scenario.
For example – EUR / USD is in an hour will be higher or lower than the existing one.
• Futures – a variety of goods that are traded on exchanges, it may be oil, gas and gold.
• Indexes – rather sophisticated tools, which affects the price of several components, such as the Dow Jones index 30 includes a value of the shares of the 30 largest US companies. That is, when trading you need to track changes on thirty lines.
• Promotions – they are also present in any of the terminals, but trade them better all the same in the stock market with the help of specialized trading platforms.
successful selection of the secret lies in the fact that to select the tool for which you really understand. For example, most analysts say that after the Olympic Games in Sochi, the ruble will go to the bottom against the dollar, and indeed it happens, so why not open the deal to buy the currency pair USD / RUB. After the price hike does not close it with profit.
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