matter what, even 100 years from now. With a demo account, you can trade Forex without taking any risks, which will help you improve your trading skills. You could make more than what is depicted in the example above, but if you dont change your attitude and expectations, you will most likely make much less. You need to know if your trading system can stay profitable through increasing/decreasing volatility, growing/shrinking average daily range, impactful news events, etc.
If the value of euro (the base currency) goes down against the US dollar, the eurusd rate will also go down. Next, I would forward test (with a demo or micro account) the new strategy for, at least, a few months. It takes discipline, as well as patience, to properly test a new trading strategy. They are ambitious, hardworking executives with an excellent understanding of economics and finance. You can do research on any international Forex brokerage company that offers their services to Nigerian Forex traders, such as Alpari. The United States, for example, has the US dollar, the United Kingdom has the British pound, and South Africa uses the South African rand. Overleveraging, poor money management is one of the worst account killers for new traders. Your 20 per annum of return would put you way above the standard pension or mutual fund portfolio and pretty close to top performing hedge funds with over 250mil in assets.
However, do not worry, because there are plenty of free educational resources available online that you can use to learn about this business. Most successful traders make a much lower average monthly profit (3-7 is common). As a result, since the early 1970s, currency rates often experience significant daily fluctuations. You should also account for brokers fees and swaps. However, in 1971, the United States officially ended the Bretton Woods system when they stopped using the gold standard, effectively making their currency a free float. How to read currency rates, before we start discussing how you can make a profit from trading Forex, you need to learn to read currency rates like a professional trader. So, when you see the rate eurusd.1600, it means that 1 euro is currently worth.16 US dollars. You could do some more research and find out that the standard pension fund is working off 8 annual return benchmark (at least the last time I checked).
This forex system is very flexible for more interpretations. Forex Miracle Donchian Swing Trading Strategy: The miracle of trading is a forex strategy based on the Donchian channel. ITs a trend-range trading system. Time FrameRead more
Euro(EUR) To Turkish Lira(TRY) History Graph. Yahoo Finance (Yahoo!) 1 TRY.164 EUR, nov 17, 2018 10:00:02 UTC, the Central Bank of the Russian Federation (CBR) 1 TRY.165 EUR. The symbol for TRY can be writtenRead more