How To Use Forex Trade Apps - Top Forex Trading Apps

Forex trading is currently known as an active financial strengthening activity. But you should know that trading is different from investing, which tends to be passive. The easiest and fastest way to learn more about forex trading Apps is to open a free demo account. Just download the Metatrader 4 platform Apps to your computer and place your first demo order.

However, you need to know that forex is one type of investment that has a high risk. even if you have started to learn forex trading, without experience and in-depth investment knowledge, forex trading can boomerang which attacks you and weakens your financial strength. So We hope to consider it first before you do it on a real account.

The initial stages of learning forex trading for beginners

1. Create a demo account first

Opening a demo account doesn't take long, you only need about 2 minutes or so. In learning forex trading, it's a good idea to immediately apply the theory and strategies that you get on the demo account first. However, do not immediately make forex trading transactions in real accounts. Therefore, you can start to create a demo account that projects a forex trading activity as your first step to learning these investment activities. First, let's take an example with the MetaTrader 4 (MT4) platform Apps, which most forex brokers offer.

2. Know the types of Forex trading platform Apps

The demo account that you create through the broker is indeed your identity as a trader, but you must also register the account with the trading platform to continue the process of learning forex trading. For that, you must first log in or register yourself on a trading platform. Before you register on the Forex trading platform Apps that you want to use, it would be nice to know the types of Forex trading platform Apps, especially in terms of your account security.

3. Understand the right time to trade forex

In trading, timing is an essential element that you need to pay attention to when learning forex trading. As you know, the money market continues to run 24 hours a day, 5 days a week. One of the best times to trade is when trading volume and volatility are high. High trading volume means that many units of a particular currency pair are being traded. High volume and volatility lead to large pip movements. Spreads are also small during high trading volumes, which means transaction fees are small.

4. Know the mechanics of technical indicators

With an in-depth understanding of technical indicators, it will be easier for you to perform calculations or analyses related to prices, volumes, and market interest related to foreign exchange. Technical indicators are one of the important instruments for you to understand when learning forex trading. The following are some of the technical indicators that are most often used by traders:

Moving Average (MA)
Parabolic SAR
Bollinger Bands
Average Directional Movement Index
Fibonacci Retracement

In general, the main function of technical indicators is to help you monitor market conditions. Without indicators, you may find it difficult to determine whether the market is bearish or bullish, what positions you should open, and when to open positions.

5. Studying fundamental indicators

Fundamental indicators are also one of the references you need to conduct analysis as a means of learning forex trading. In studying fundamental indicators, you will do more research on the economic and social data that affect a country's currency. The following are some of the most popular fundamental indicators used today, including:

Earning Per Share
Price To Earning Ratio
Price To Earning Ratio
Price To Book Value
Return On Equity
Debt To Equity Ratio

There are many other indicators that you can learn. But at least the indicators that we have mentioned above can be studied more deeply, to make it easier for you when investing in stocks.

6. Understand the risks before trading

Understanding the risks of forex trading is not just based on instinct. Many factors can be analyzed to present a variety of risk projections that will be present. Risk will always exist in every trading activity, but with a deep understanding and good management, you can determine the loss tolerance limit so that you can launch a wise strategy to divert large potential losses.

7. Using the best and most trusted forex trading signals

After you understand the points we discussed above, it's time for you to combine the techniques or strategies you've learned with the best forex trading signal applications. The following are the best forex trading signal applications that we often use in trading.