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I am new to ForEx trading and have some questions. If someone could give me a moment of their time, I'd be much appreciative.
>pic related
What is the difference between buy and sell orders? If I click “buy” the dollar value has to go up for me to make money. If I click “sell” the dollar has to go down. How do I still make money if order value goes down? Can someone explain that to me?
What exactly is Volume? I understand it is an amount, but what is it an amount of?
Using a demo account, I made $8,000 in the last 48 hours using live updates on today’s USDJPY and EURUSD. Is this a true to world application to what I would otherwise be making with a live account? Or is this exaggerated with a learning curve?
Also, let’s say I wanted to withdraw $3000 and keep the rest in there to keep playing with. Pretending the account is real, how does that work? How long does it take to gain access to that $3000?
Can someone define Balance, Equity, Margin, Free Margin, and Margin Level? I have googled these, but would like a more human response and explanation because I’m still not quite getting it.
This is more for organization. How do I keep track of my stuff? Orders, profits, losses, etc?
Is there a proven system that works or one you use? What programs do you use? Advice on organization and tracking.
Using the picture, what exactly am I buying and selling (this likely refers to the volume question above)? It says I don’t have enough money every now and then. But if I’m buying a volume of 1-5, and the price is only $109, how do I not have enough money for that?
>ignore the $12,XXX loss, that was a test buy and I never got rid of it because I was trying to figure out the program.
>yes I’m new. Found Forex trading 5 days ago after stock watching for a year
>Forex seams more profitable, right?
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>>1953668
http://www.investopedia.com/
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>>1953668
>FOREX
>profitable
pick one
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>>1953668
>What is the difference between buy and sell orders?
When you buy, you buy the first currency in the currency paired against the second currency. For example, if you buy EUR/USD you're betting that the Euro will go up compared to the dollar.
>What exactly is Volume?
How much currency is being traded.
>Is this a true to world application to what I would otherwise be making with a live account? Or is this exaggerated with a learning curve?
Yes, but you can just as easily lose the same amount. Forex uses leverage, if you don't know what that is look it up.
Honestly, since you didn't know that much, finish http://www.babypips.com/school before you even think about trading Forex.
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>>1953670
Posting a link without any explanation is worthless. Especially one such as investopedia. It isnt in any way intuitive and to new comers, all it looks like is news related posts with no way of identifying answers to op's questions.
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>>1953677
>I'm too lazy to learn anything on my own. Please spoonfeed me
Kill yourself my man
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>>1953693
>>not knowing what a public forum is for
No, kid. Kill YOUR self
Go back to trolling b loser
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>>1953703
If he has literally no clue about Forex he should educate himself before he asks stupid questions on a forum.
Forums should be used after you have familiarized yourself with what you're asking about.
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>>1953731
That's just not how things work to retard. You need to get off your high horse and take a social class.
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>>1953745
>hey, I know nothing about Forex so can anyone here teach me everything so I don't have to look it up myself! Thank!
Fuck off, if he's serious about Forex he *needs* to do a lot of research, such as using BabyPips.
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>>1953752
Now you are just putting words into their mouth. They clearly know enough to make $8,000. And they are clearly trying to figure out the things they admitted they do not know. Instead of acting like a childish retarded troll who shitposts on newcomer threads.
Everyone starts somewhere. Even you did. Problem for you is that most people don't end up arrogant assholes trying to impede other people's progress unjustly.
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>>1953761
Trust me, it's not hard to make $8,000 on Forex, especially using a paper trading account with 1000:1 leverage. When I started paper trading Forex I knew nothing and made $10,000 in the first two days then lost it all a week later.
I also replied to his questions earlier in the thread so I'm not just being a dick withholding information from him.
I started by lurking Forex forums and using the BabyPips school, not by asking questions that can be easily Googled.
Come on man.
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What is the difference between buy and sell orders?
Buy order is buy x amount of x. Sell is sell
You get in before value goes down, and sell it before value goes down.
Volume is how many, in this case the USD/JPY pair, are being traded. I do not know the average volume in forex, but in stocks its easy to find quite alot of volume in voluminous times. Sometimes 200k of AMD were bought and sold within a minute, lots exchanging there.
You just played an event, look back and how many of these events happen? Just try to keep your profits. And, DO NOT LISTEN TO BIZ, neither seeking alpha or these analysts, DO IT YOURSELF. The days I looked for assurance and mildly listened to biz I lost my money.
idk about withdrawal
Balance is your account worth. Equity is whatever you're holding, from bonds to stocks to etfs to index funds. If this goes down, so does your balance. Margin is how much they're willing to let you borrow. I've never played with leverage so I would not be able to human response you
Account history, and maybe excel it all yourself
I think 4-X are for the biggest baddest people out there and ready to blow up their accounts with leverage and to follow the world markets the entire time
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>>1953772
I don't understand how you keep making assumptions that this person is not doing their research. I'm done responding this is taking too much of my time and all I'm trying to do is encourage a better board.
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>>1953778
Thanks. I agree about the biz comment. I found I was making better investments in stocks when I did it myself, too.
Appreciate the help.
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>>1953668
Currencies are long/short. Anytime, you take a position in the market, you will always have bought a currency and sold a currency. Ex: You buy a house. You've traded USD for real estate and property.
8k in 48 hours is irrelevant. No one knows the context this is used. The only time these kinds of raw numbers are used is when some large hedge fund manager is describing his success and is stating how much money he had under his management at his peak.
3k? Idk get a job. The money is yours based on your agreement. You should be able to withdraw whenever unless your broker blows up.
Balance: deposits -withdrawals + realized p/l
Equity: deposits -withdrawals + unrealized p/l
Margin: Deposits - withdrawals + realized p/l
Free margin: deposits -withdrawals + unrealized p/l - Used margin
Margin level - broker dependent
Tracking - errr, im working on that. But, personally I'm not sure if i'll need it. Don't plan on trading much.
Volume - The units are broker/platform dependent.
Forex - is profitable, and I'd say easier than stocks.
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>>1953812
He's asking literally the most basic Forex questions.
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OP check out babypips.com for an intro on forex. It should be a sticky on this board
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