News Update :

What is happening as FOREX trading in Srilanka

Saturday, December 3, 2011

Sri Lankans have suffered a lot of scams in recent years. Investment scams such as Sakvithi and Golden Key promised extraordinarily high returns on deposits. However, all these activities have failed at some point, costing depositors of their hard earned money. What is worse, pyramid schemes are still rampant in the region. Forex Trading, however, is not a scam. It's really a viable way to make money in the foreign currency market.

A relative lack of Internet use in this region makes FOREX trading in Sri Lanka a little known and explored Littler option to search for investment income. However, for those who have Internet access, a little practice can make a lucrative investment opportunity for the savvy investor.

The first step is to choose a forex broker. Two options exist for the good Forex trading in Sri Lanka. The first is eToro. This trading platform is ideal for the beginner. This is because market data are presented using a graphical interface that makes forex trading almost like playing a video game. Real-time data is converted graphically to show a runner wins or loses ground in a race. There are other graphic simulations that operate similarly to help newcomers learn about the FOREX market.

AVAFX is another really good trading platform for those with limited experience. While trading on this site is not like playing a game, technical analysis and data are presented in a way that even someone with no experience in the financial markets can see what is happening minute to minute.

Both offer a multitude of free tools that allow the investor to formulate a negotiating strategy and create commands that dictate when to open a trade, when to close a trade and when to take profit or stop loss. A tool, known as a trailing stop loss allows a trader to enter a trade and get as long as the movement is in a favorable direction. The stop loss is set a number of pips behind the entry point. As advances in position, the stop loss follows the same number of pips behind. When the market turns around, he can not move the prescribed number of seeds before the stop loss kicks in and closes the trade.

The best way to learn forex trading in Sri Lanka on either platform is to use free demo accounts they offer. These demo accounts allow you to create orders and make trades based on data in real time without risking a penny of their hard earned money. We can look at market movements and see how he / she would have made or lost on the same business while remaining secure in that no money was risky.

One thing that most traders do not understand is that the demo account is good for practice but does not represent actual trades in the market. Trades initiated in the demo account has no real impact on the market.

A note to be observed in forex trading in Sri Lanka is that all winning trades for you is a losing trade for someone else. The same is true if you enter a business that loses money. Someone is making money with this trade, it just was not you.

The foreign exchange market is not a get rich quick. This is a very real, until recently, very secret, the financial market that holds great potential with many risks.

The key to FOREX trading in Sri Lanka begins to find the best trading platform for your trading style. EToro AVAFX and both offer many useful tools that can make it easier and more productive to trade with them. Then you have a great practice using the free demo account offered by the platform chosen. Few people in the world can claim to be experts in the financial market. Anyone who may have accumulated a lot of direct experience using demo accounts and live out the trades on the market.

95 percent of new investors in the FOREX market failure. These people lose their investment and get discouraged. A major reason is that they do not take the time to become competent and experienced in making crafts using their demo account before they jump in with both feet. You want the other 5 percent of investors who make money with Forex Trading.

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