by Susan Wright
Forex trading is the speculation of the future rate of a particular currency pair. If a trader thinks the currency rate or price will go down they will sell, or go short, the particular currency pair they are interested in. All Forex trading done by retail traders and investors is facilitated by a Forex broker. There are many broker?s available on the internet.
The Forex market is a global financial market for the exchange of currencies. Various financial centers around the world act as hubs for trading between a wide range of different types of buyers and sellers 24 hours a day, except weekends. The foreign exchange market determines the value of one country?s currency relative to another.
Admiral Markets?operates in the Forex trading arena. The company?s Forex trading platform,?Meta Trader 4 (MT4), was developed by MetaQuotes Software. Admiral Market?s new CFD (Contracts for Difference) is making Forex trading easier through the use of multi-charts.
A contract for difference (CFD) is a contract between two parties stipulating that the seller will pay the buyer the difference between the current value of an asset and its value at contract time. If the difference is negative, then the buyer pays the seller. CFDs can be considered as financial derivatives that allow traders to take advantage of prices moving up or prices down on underlying financial instruments which are often used to speculate on those markets.
Admiral Markets Changes the Way Forex Investors Trade
Admiral Markets has recently come out with a new trading instrument ? Contracts for Difference (CFD) ? that allows traders to used multi charts for trading on indices, futures, stocks, and silver. The instrument has a variety of different features, indicators, charting tools, and news feeds.
While CFD is considered to be easy to use by traders, it is also?comprehensive?- allowing for 85 different indicators, a wide range of different time frames, and eight different types of charts for traders to choose from.
The instrument is available only to Admiral Market traders? customers, and it is now available on Admiral Markets AS live for both Standard and Micro accounts. The instrument can also be used on demo accounts. Contracts for Difference includes?the ability to?trade:
??30 Stocks (NYSE and NASDAQ listed large corporations)
??7 Stock Indices (S&P 500, DJIA 30, NASDAQ 100, Nikkei 225, CAC 40, DAX 30, and FTSE 100)
??1 Spot Metal (Silver)
??2 Energy Futures (Crude Oil and Natural Gas)
CFD has been deemed as ?the next generation of visual chart trading,? as it includes real chart trading using the upgraded Admiral Markets MT4 Supreme Edition. Here, traders are able to better manage their Take-Profit (T/P) or Stop-Loss (S/L) limits directly from the chart by clicking on the line and moving it with their mouse.
Other features of the?CFD instrument include:
??The ability to modify or cancel pending orders. In addition to moving the mouse directly in the chart for altering Stop-Loss and Take-Profit orders, traders can also do the same in order to close out an order altogether.
??Use of true multi-chart trading. Traders can also use several open charts for only one instrument.
Through the MT4 Supreme platform, traders can use the extended features for managing the 1-Click Trade Manager. This allows traders to change settings such as the color of their lines, and/or to indicate whether or not they want a confirm for changing their Stop-Loss and Take-Profit limits.
In addition, when traders have their charts on, they will have labels for the different lines on each chart. This can help to make the purpose of each line more clear as well as in more clearly ordering their charts overall. As with all of the company?s other programs, Admiral Markets? CFD use is secure due to Admiral Markets? cooperation with ESET, LLC, an online security application.
The ease of the new CFD instrument fits well with Admiral Markets? 1-Click Trade Manager, or Mini Terminal, in that traders can place their buy and sell orders by simply clicking on the large green and red buy and sell buttons.
The MT4 will show traders a dotted horizontal line for each of their orders, and it also draws markers that show traders where their orders have been opened and closed. A trader is able to control their lot size on their new orders. In addition, they can set a stop-loss, take-profit, or a trailing-stop by using the fields that are shown on their screen directly above the buy and sell buttons.
The MetaTrader 4 also allows traders to open a calculator for each of the fields that shows users the equivalent number of pips to cash. For instance, if a trader is trading 0.25 lots and they want a stop-loss that is equal to $100, then they would simply tell the calculator to work out the number of pips that would be equal to the $100 price. Should traders have a specific type of order that they regularly place, they can save a template for quick re-use.
Pending orders such as stops and limits can also be easily placed by clicking on a yellow button on the trader?s computer screen. They can then choose the type of order, the entry price, stop-loss, and take-profit options. Here, the entry price for a pending order can either be defined as a fixed price or as a number of pips. For example, if a trader chooses to do a buy-limit order and they enter a value of 20 pips rather than a specific price, the limit order will then be created 20 pips below the current price.
Through its offering of education via seminars and webinars, the company takes steps to ensure that traders are well informed prior to initiating any trades using real currency. This, along with the analytical tools that are provided for traders directly on the website, help to ensure more successful trades.
Admiral Markets? one-click trading has allowed traders to simplify their moves ? including the opening and closing of positions ? with one single click of a mouse. Interested traders can immediately?begin using CFD?via a demo account prior to trading with real currency.
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