The first step of foreign exchange introduction knowledge: understand the related terms of margin trading.
For example, what is spread and what is stop loss and take profit? What are the types of transaction prices, leverage ratio and other related basic terms, and understand the principle of foreign exchange margin trading.
Step 2: Learn technical indicators.
At present, the international popular technical indicators do not work, but a large part of people think that technical indicators are very helpful to analyze the trend of the foreign exchange market. The boll commonly used technical indicators such as random indicators, multi-control indicators, bollinger bands, moving average indicators MA, etc. When learning these technical indicators, we need to understand the composition principle of technical indicators and master the application methods of indicators, but we need to use them flexibly, not mechanically, because technical indicators are lagging behind, provided that history will repeat itself. And technical indicators sometimes deviate from the real market.
Step 3: Learn how to analyze the fundamentals of foreign exchange.
Fundamental analysis is ignored by many foreign exchange traders, because the foreign exchange market is a global market with huge data and technical terms, and ordinary investors simply have no time to take care of all the information. But we need to understand the most commonly used data concepts, such as: gross national product GDP, the impact of changes in national interest rates on the value of the country's currency, export data, non-agricultural employment data, housing operating rate and so on. Just like the stock market, good news will lead to market rise, and bad news will lead to market fall. Of course, the foreign exchange market is more transparent than the stock market
Step 4: Practice makes true knowledge.
After understanding the above knowledge, you can practice through simulated trading, which is the basis for truly understanding and improving the level of foreign exchange trading. When we simulate, we should pay attention to:
1, light warehouse receipt to avoid heavy warehouse;
2. Develop the habit of setting stop loss;
Finally, regarding the attitude towards risks, investors should first correctly understand the risks in trading, what kind of results they want in the market and how they are prepared to trade. On this basis, they should control the risk and limit the risk of the order to their own tolerance. Remember, the key difference between simulated trading and actual trading is mentality. Many people do a good job in simulation, but the actual transaction is a big loss. We must adjust our mentality, adjust our mentality to the actual combat mentality, and remember to maintain a normal mind.
The first step in the skills of forex beginners is to understand the basic knowledge and terminology of forex trading. If you don't understand the basic knowledge and terminology related to foreign exchange trading, the technical analysis articles of experts may not be understood at all, and you can't learn and understand the latest market in time. Therefore, for the basic knowledge of foreign exchange, such as spread, stop loss, leverage and currency equivalence, we should understand the basic principles and skills of foreign exchange trading in time.
Step 2: Understand the analysis chart of various technical indicators. The analysis chart of technical indicators is very helpful for beginners to clearly understand the trend and market of foreign exchange. Therefore, for common technical indicators, such as stochastic KDJ indicator, multi-control MACD indicator, Bollinger band boll, moving average indicator MA, etc. The calculation and application methods and composition principles of these indicators need to be understood in time. Of course, knowing the indicators like the back of your hand doesn't mean copying them mechanically. After all, indicators are dead, the market is changing, and it is common for indicators to be inconsistent with the market. You should know how to analyze yourself.
Step 3: Fundamental analysis of foreign exchange is very important. The foreign exchange market is global. In different regions, economy, politics, current affairs, various indicators and exchange rates have great influence on the foreign exchange market. Therefore, it is necessary to understand the commonly used foreign exchange data analysis, and the fundamental analysis is in place, which will also help you understand the foreign exchange market in time and let you find a favorable opportunity to sell from the complicated market.
Step 4: Summarize the experience in time after making the order, and lay a good foundation for the successful profit of the next order. After you have completed the first three steps, I believe you have a certain understanding of the foreign exchange market. You can place an order at this time. It is very helpful to make every order well and sum up experience in time. In addition, it should be reminded that novices should start with simulated trading, even if they are simulating orders, it is very necessary to set stop loss and light warehouse receipt.
Essential knowledge for beginners of foreign exchange: first, base currency.
These are the examples mentioned above: USD (US dollar), EUR (Euro), GBP (British pound), AUD (Australian dollar), JPY (Japanese yen), CHF (Swiss franc), NZD (New Zealand dollar) and so on.
Second: the value of the base currency is always 1.
For example: USD/JPY 120.5438+0. In this set of quotations, the US dollar is the base currency. USD/JPY/KOOC-0/20.0/KOOC-0/means USD/KOOC-0/equals JPY/KOOC-0/20.0/KOOC-0/. Whether you buy/sell, you are trading the base currency.
Third:? Point? The concept of
In the international foreign exchange market, the exchange rate price * * * has five digits, and the last digit of the exchange rate price is called a point, such as 0.01kloc-0/4.51USD and 0.0008+0 EUR-USD. It is the smallest number to measure the change of a specific currency against the exchange rate, and often refers to the last number of the exchange rate (in most cases, the fourth place after the decimal point).
In foreign exchange transactions, you will see bilateral quotations, which consist of buying price and selling price. The difference between the bid price and the selling price is the spread, and traders profit from the spread.
Fourth: The best trading opportunity is the currency with the largest trading volume.
For example, if 85% of foreign exchange transactions today are major currencies, including US dollar, Japanese yen, euro, British pound, Swiss franc, Canadian dollar and Australian dollar. The huge trading volume makes it impossible for any institution to manipulate this market, and the price moves regularly, which is fair to ordinary investors.
Compared with the huge trading volume, another remarkable feature of the foreign exchange market is that it is a 24-hour global market. Market trading starts from Sydney every day, and with the rotation of the earth, the business days of every financial center in the world will start in turn.
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