How Do I Become a Foreign Exchange Trader?

Forex traders are traders who specialize in foreign exchange trading. Including: In the foreign management department or finance department of each foreign exchange bank, the foreign exchange price of each bank is specifically understood from the telex video screen, and the operation method of "cheap buying and expensive selling" is used to earn the difference in international finance. personnel. Self-employed. A self-financing business, usually a bank, who buys and sells foreign exchange, usually a retailer of currency, sets up a booth at the port of entry and exit to exchange foreign currency, and the price is different from the bank ticket or telegraphic transfer, with a 20% to 30% difference . Others who trade foreign exchange at their own profit and loss.

Forex trader

Forex traders, what the current industry calls

1. Manage foreign exchange fund transactions;

2. Collect and sort foreign exchange data, collect and update foreign exchange policies and related regulations;

3. Manage the foreign exchange position of the whole bank, carry out foreign exchange spot and forward products and basic type

Beginner, Intermediate, Advanced, Teacher

Awarded by the National Ministry of Human Resources and Social Security, the Workers' Education and Vocational Training Association

(1) Elementary forex trader

1. Secondary education or college or above in finance and economics;

2. Engaged in related work for more than 2 years;

3. People of insight who have certain financial knowledge and are interested in precious metals investment trading.

(Each of the above conditions can participate in vocational training)

(2) Intermediate foreign exchange traders

1. Have obtained a preliminary certificate and have been engaged in related work for more than 2 years;

2. College degree or above, and engaged in related work for more than 4 years;

3. Bachelor degree or above, and engaged in related work for more than 3 years;

4, with a secondary education, and engaged in related work for more than 8 years;

5. No education, but engaged in related work for more than 10 years

(Each of the above conditions can participate in vocational training)

(3) Senior Foreign Exchange Trader

1. Have obtained an intermediate certificate and have been engaged in related work for more than 2 years;

2. College degree or above, and engaged in related work for more than 8 years;

3. Bachelor degree or above, and engaged in related work for more than 5 years;

4. Graduate degree or above, engaged in related work for more than 3 years;

5, with a doctoral degree or above, engaged in related work for more than 1 year

6, no education, but engaged in related work for more than 13 years

Forex Trader Crocodile Principle

It is an important survival rule because it is a useful and simple trading rule used by traders all over the world. The law stems from the way crocodile devours: the more the prey tries to struggle, the more the crocodile gains. Suppose a crocodile bites your foot. If you try to break your foot with your arm, its mouth will bite your foot and arm at the same time. The more you struggle, the deeper you fall into it. So, in case the crocodile bites your foot, this will be a forex signal that does not pay back. It is important to remember that your only chance of survival at this time is to sacrifice one foot.
The necessity of stop loss Volatility and unpredictability are the most fundamental characteristics of the market. This is the basis for the existence of the market and the cause of risk in transactions. This is an immutable feature. There is never certainty in trading. All analysis and prediction are just a possibility. Transactions based on this possibility are naturally uncertain. Uncertain behavior must have measures to control the expansion of its risks and stop losses. That's how it happened.
Stop loss is naturally generated by human beings during the trading process. It is not deliberately made. It is an instinct for investors to protect themselves. The uncertainty of the market has created the necessity and importance of stop loss. Successful investors may have different trading methods, but stop loss is a common feature that guarantees their success. Soros, the world investment master, said that there is no risk in investment itself, and that there is risk in out-of-control investment. Learn to stop losses and never fall in love with losses. Stop loss is far more important than profit, because at any time the principal is guaranteed, and profit is second. The establishment of a reasonable stop loss principle is quite effective. The core of the prudent stop loss principle is not to allow the loss to continue to expand.

Forex traders moving average

A moving average is a line drawn by averaging closing prices in the past several periods.

Here are 2 different moving averages:

Simple Moving Average (SMA)-The simple moving average is the sum of the closing prices in several (n) periods (such as 5 or 10 minutes, every day, etc.), divided by the total period n, to get the nth period average of. Then the average value of each period is marked on the graph and connected with a curve to obtain the average line of n periods.

Smooth Moving Average (EMA) Since the moving average is a lagging indicator, in order to get closer to the market, the smooth moving average gives higher weight to recent data when calculating the average. This allows you to see market trends earlier.

There are many uses for moving averages, mainly for identifying / confirming trends, as well as identifying / confirming resistance and support levels. For example, the fast line is higher than the slow line, which is called the "golden fork", which is a buy signal. When the fast line crosses the slow line downward, it is called "death fork" and it is a sell signal.