Online forex trading for professionals is characterised by commitment and dedication as traders take this very seriously and consider it a full-time career. Through using various training methods that provide consistent results, beginner traders can become professional traders. Also being able to determine which techniques can be successful in the market, can also boost your expertise.
Before we move on to understand how professional traders work, let’s understand the forex market a bit more. So, what are the three ways to trade in the forex market?
Even though the concept of forex trading is very similar to currency exchange, it is interesting to notice that a majority of forex trades are not made to exchange currencies. Rather, the purpose is to either speculate or hedge a position in respect to future price movements. The most popular ways to trade in the forex market are:
Read on to learn what a professional trader is, what the types of expert traders are and why MT4 is the best choice.
If you are a professional trader, it means that you work in finance or you are engaged in investing as a full-time career. These traders either work for themselves, for a CFDs broker or other investment firms, or even as freelancers that trade on behalf of other clients. All environments require the same duties more or less. However, each trader has different experience and education. There are two types of professional traders:
The role of the professional trader is to buy and sell investment products so as to generate revenue. Let’s take a look at an example. If a trader buys a stock for let’s say 2 dollars per share and sells it when its value is 5 dollars, then the trader makes a profit. The professional trader’s job would not stop there. Instead, an expert trader would analyse the markets, build his/her strategy, review trades individually and engage with other experts in the field.
Tips for becoming a professional trader:
Most traders fail to focus on who they are which eventually leads them to finding more traditional ways to make a profit. Becoming a professional trader requires following a few classic rules designed to keep you focused on your end-goal.
MT4 is the best online trading platform for professionals and the industry-standard, chosen by numerous traders worldwide. Its intuitive and customisable interface, its advanced analytical features and other tools make it the best choice for both new and professional traders as they can adjust it according to their level of experience. In fact, the platform offers access to technical and fundamental analysis, EAs (Expert Advisors) and basically everything an expert trader needs to view and manage orders and currency prices and place trades. Traders can download and access the platform through a forex broker.
Not to mention that MT4 is supported by Windows, macOS, Android, iPhone, and web browsers. Traders can log in to their account and monitor their trades on the go, anytime. The MetaTrader 4 Advanced for Windows enables traders to make use of the latest trading features like automated strategies and the built-in ability to use EAs.
Some of the features are as per below:
Traders from all around the globe, download MT4 for online trading and make the most of its advanced features and tools.
Professional traders step into more advanced techniques like the ones described below. Forex refers to exchanging currencies. It can also be speculative, such as in CFD trading. In fact, many investors hedge their stock portfolios with some percentage investment in forex, as these are stable commodities, given we’re sticking to national currencies of stable and large economies. Popular currency pairs such as JPY/USD have high trading volumes and are very liquid investments, making it attractive for short-term traders and investors with lesser available funds.
Since currencies fluctuate a lot, if one is in the business of exports or imports, they can hedge their future risk by entering forward contracts or swaps. Such contracts fix the exchange rate for a future settlement date. This secures the trader from potential future fluctuations and helps them realise/pay the actual value of goods or services provided/received.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||76%||40||$24 129.38||4.39%||4.16%||$461 254 701 638|
|2||ETH||Ethereum predictions||64.4%||74||$1 804.53||5.98%||8.69%||$219 936 602 750|
|3||USDT||Tether predictions||92.4%||1||$1.000145||0%||-0.01%||$66 486 165 109|
|4||USDC||USD Coin predictions||92.4%||1||$0.999924||0%||0.01%||$54 212 170 056|
|5||BNB||Binance Coin predictions||68%||61||$331.99||4.39%||16.48%||$53 562 837 067|
|6||XRP||XRP predictions||80.8%||40||$0.382330||2.12%||1.69%||$18 483 019 171|
|7||ADA||Cardano predictions||73.2%||52||$0.543298||4.60%||6.44%||$18 337 708 125|
|8||BUSD||Binance USD predictions||93.2%||1||$1.000576||0.04%||0.21%||$17 888 223 823|
|9||SOL||Solana predictions||74%||44||$43.21||6.94%||2.89%||$15 048 127 510|
|10||DOT||Polkadot predictions||69.2%||58||$9.31||8.45%||10.51%||$10 288 809 309|
|11||STETH||Lido stETH predictions||94.8%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|12||HEX||HEX predictions||70%||62||$0.054472||8.20%||10.77%||$9 446 016 831|
|13||DOGE||Dogecoin predictions||82.8%||27||$0.071055||2.78%||4.16%||$9 426 956 868|
|14||AVAX||Avalanche predictions||68%||69||$30.28||10.86%||30.10%||$8 614 953 421|
|15||MATIC||Polygon predictions||64.8%||77||$0.946930||3.64%||4.99%||$7 608 398 583|
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