This FAQ was prepared by the forum moderators on the basis of analyzing the questions most frequently asked by beginners. This section is going to be further extended, updated and developed, so please do not be hard on it.
Greetings, beginner!
Where you are and why it is interesting and useful.
You are on one of the largest and most attractive forums for traders. Just like other traders, we derive money from everything, from communication as well. Under the auspices of our general partner InstaForex broker our forum accrues bonuses for socializing which can be employed in trading. Thus, you will be able to plunge into the world of real trading while not risking a cent! Please find more information here.
So, let us introduce ourselves, tell you about our occupation, dwell upon the points discussed on the forum and explain you why it is helpful to you. We are traders, i.e. people earning from fluctuations of currencies', stocks', precious metals' rates and those of other assets. We do not have any top managers or directors regulating us and we enjoy the opportunity to work at any part of the world – the only thing necessary is access to the Internet. We decide on our working time ourselves: we can work either round-the-clock or just 1 hour a day, not on Sundays and Saturdays however. These days we, as all people, have fun and relax.
Our work is very simple: we buy some asset (for example, some euros for dollars), wait until the euro rate gets higher and then sell this asset, making profit thus. As you can see, the scheme is just the same, as in most business: to buy for the least price possible, to sell for the highest price possible. Yet in our case the scheme may well be the other way round – to sell first (if you think the price has hit its high) and then buy it out later, for a lower price with some profit. Most of us operate on Forex; currencies move both daily and nightly and their movements are rather amplifying which makes it possible to earn more.
Let us move to our working terms and their definitions.