Currency trading is one of the biggest, most volatile and potentially rewarding forms of investment in the world. The forex markets generate huge profits for investors and dealers every day, with the big institutional players taking the lion's share. Small private investors are also developing the skills and self-confidence to make profits from online forex trading. Unfortunately too many newcomers are failing to learn how to trade forex effectively. They are missing out on what could be a lucrative second income – or in some cases a completely new way of life.
The Opteck platform is a great place to start your trading career. New traders are often confused about their motives for trading and their actual investment goals. Everybody is attracted to the idea of earning more money, and a lot of people love the idea of taking control of their own investments and operating independently of stockbrokers and fund managers. But few beginners look beyond those horizons. Opteck will challenge you to think about what you actually want to get out of forex trading. Once you've formulated your personal goals you'll be encouraged to start trading on the Opteck platform.
Stop – Think – Trade!
• Do I understand how currencies and other assets actually perform?
• Have I registered with Opteck to get free access to the Trading Academy?
• Should I use a free Opteck Demo Account to practice trading without risk of loss?
• Do I have clear financial goals or just a vague idea that 'I'm going to make money with forex trading'?
• Do I have a realistic trading schedule that is built around economic events?
• Am I ready to accept some losses and take the time to learn from my mistakes?
What is CFD Trading?
CFDs (contracts for difference)
are a fast and convenient way to invest in currencies. The basic principle is very simple; you open a trade on a currency pair when its value is low and close the trade when its value is high. The difference in the two values is your profit and it is paid straight into your trading account. The Opteck Academy will help you to learn how to trade forex and the VOD films and eBooks explain exactly what is CFD trading.
Some Key Forex Trading Terms
The main advantages of CFDs are their flexibility and simplicity. They also give you a high level of control and allow you to see each stage of your investment. You can immediately close any trade that performs poorly. • CFD – contract for difference. An instrument that allows you to invest in an asset without purchasing it. • Leverage – a system that allows you to boost your investment up to x10 with Opteck's money
• Margin - a cash reserve in your trading account to cover leveraged trades
• Stop Loss – an adjustable tool that will automatically stop an unprofitable trade (even if you aren't physically monitoring the trade).
• Take Profit – works on the same principle as stop loss, but closes profitable trades when they have met your expectations.
All these terms are explained in the online Opteck Trading Academy. It's free for traders and uses specially designed VOD films and eBooks to help you enter the global forex markets. You can also sign up for webinars and 1on1 training sessions.