Getting started in the Forex market can be quite difficult, because a trader has to learn a lot of information, to get new skills – choosing a Forex strategy, choosing an indicator, a currency pair, a time period, requires certain practices and knowledge. That is why experienced traders advise beginners to first carefully examine and consider everything, and then work on a training account, having received at least a minimum of practical skills.
Forex terminology highlights such a notion as a warrant in trade. You can make a sale / purchase of a currency on the market either by requesting a quote, giving Sell or Buy commands, or by placing orders — certain sales / buying orders of a specific currency according to the rate you selected in advance. Orders can be of two types: it is a stop order (Stop Order), a limit order (Limit Order), sometimes referred to as Stop Loss, Stop Profit, Take Profit. Continue reading