|
When you use retail spot Forex software, it only
requires an internet connection to trade real-time. No extra
data-feed is required. All online Forex brokers’ software is
real-time, rather than delayed.
If you download a free 30-day demo of the software, you can
"practice trade" in real-time with the exact same quotes as a live
account. The software is exactly the same, and you receive virtual
money for the account. You are then able to enter trades in real
time, and monitor them just as though it were a real account.
You will experience no difference between the demo account and a
live account. When you log onto your trading platform, you see your
price quotes, and you simply click on the price to sell or buy. It
will ask you
how many lots or contracts you want, and then you click ok, and you
are in. You can also use the charts they provide with the trading
platform; they will reflect the movement of the real-time price of
their trading platform. With those charts, you usually have the
ability to place horizontal lines where you choose (pivot numbers).
Each currency is quoted with a pip spread. This is how the dealer
makes his money. With most online retail brokers, there are no
commissions. For example, I want to buy the Swiss Franc, and the
current quote is
1.7205/1.7210. The dealer will give me the 1.7210 price, and I
would start the trade -5 points which equals $30.00.
In my trade window, I would see my money change as the market price
moves back and forth. As it moves in my favor, my negative position
is removed as soon as the market is trading 1.7210/1.7215, or
higher.
In the spot forex market, it is common for currencies to move 100
to 300 pips/points in a 24-hour session. If you like volatility,
there is no currency more volatile than the Franc.
If you want to see the software in action, just register for it at
fxsol.com, and download a free demo. You will get your password and
username immediately sent to you by email.
|