In recent years you will have heard from friends or on the internet about how to do forex trading but on the EUR/USD pair.
That means you can you are trading EUR/USD both when its price rises and when it falls.
But before I show you how to do this, I want to start with the basics.
Here is the Forex broker I use trading Vantage Markets
Table of Contents
What is EUR/USD?
EUR/USD is the most popular currency pair in the Forex market around the world.
EUR/USD = how many US dollars (USD) you need to buy 1 Euro (EUR)
- EUR → base currency.
- USD → billing currency.
For example, the exchange rate fluctuates around 1.170 – 1.172 (e.g. ~1.1704 – 1.1719) so to get 1 euro you give approximately 1 dollar and 17 cents.
Example for trading with 1 lot (100.000 units) and the current price EUR/USD = 1.1710
Example for Long (Buy)
- You buy 100.000 EUR for 117.100 USD
- After 2 days the price goes to 1.1810
- You sell the 100.000 EUR and get 118.100 USD
- Profit → 1.000 USD (100 pips × 10$/pip)
When you see the EUR/USD chart and you think it will go up, you should Buy (Long) and when you think it will go down → Sell (Short).
However, it's not that simple, you have to learn a strategy that you have to follow faithfully, remember that 90% lose their money within a week and the reason is because they don't know how to take risks.
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What is a Forex broker?
A Forex Broker is the company (or platform) which allows you to trade inthe Forex markets but not only, that is, it allows you to buy and sell currencies (e.g. EUR/USD, GBP/JPY, etc.) online from your laptop/PC or your mobile phone.
The Forex broker that I personally use is Vantage Markets .
If you want to register step by step from broker vantage markets you can watch this video in Greek
How to trade EURUSD
To do EURUSD trading First, you must have completed the previous steps.
After you have downloaded it metatrader 4 or 5 you will go to the original category and click on the symbol with the μολύβι and in the search you will write the EURUSD, as I show in the image below.
Then you will go back to initial category and it will have you display EURUSD you will click on it and it will show you the chart category and you will step on it.
Once it shows you the chart that will can you sell to win if the market falls or you can do buy if the market is going up.
and as we said above you will place the lowest lot which is the 0.01.
Risk management and trading on EURUSD
When you start and make your first trades, you should observe risk.
For example, all positions you should open should be 0.01 lot if you are a beginner and always stop loss.
Also, what you should know is that for every trade you make, you have to risk the 2% to 3% of your account, that is, if you have 1000 euro you have to lose on every trade maximum 30 euros.
What hours to trade EURUSD
The volume of transactions EUR / USD It is usually at its highest point during the overlap of the London and New York trading sessions, around
The 12 to 15:00
EURUSD trading strategy
There are thousands of strategies for trading EURUSD.
Personally, I choose to do trend trading, let me show you an example.
Below you will see a EURUSD chart which within a few days gave both long and shorts and what I'm looking for is to find where the trend breaks and there, in combination with the time, I'll take the trade
Disclaimer:
What we mention on the website Bitsounisproject is for educational and entertainment purposes, does not constitute investment advice.
List of Exchanges and Brokers (Affiliate)
- Bybit EU to buy cryptocurrencies register from here.
- Bitunix for cryptocurrency trading Register from here.
- Vantage Markets for trading Forex, Gold, Crypto and more register from here
