All Forex trading for beginners in Thai comes down to finding answers to questions such as: “When will the price start to rise or fall?” “When is it more profitable to buy or sell a currency?” and the like. This part of the work is considered the most difficult. Typically, one or more methods are used to find solutions. All of them are combined into a whole science — this is “Technical Analysis.”
The developed methods are reduced to the analysis of the quotes chart by calculating the values of individual indicators. To get the most accurate forecast results, technical analysis is combined with Fundamental analysis (macroeconomic indicators). If a trader correctly uses these tools, they can easily make profitable transactions with AUDJPY, NZDJPY, and other currency pairs.
Forex: How to start making money in Thai
How to start earning on Forex if you have not dealt with currency before? Very simple. The main thing is to understand the essence of what is happening so that new knowledge is superimposed on the right basis. Imagine that you have a box of chocolates. Now, it costs $10. There are two ways to make money on this product.
- Option one is to wait until the price rises to 12 and sell the chocolate. The difference between the buy and sell price ($2) is the trader’s profit.
- The second option is to sell a box of chocolates for $10. In this case, you must be sure that the goods will fall in price, say, to 8. If the forecast comes true, you will be able to buy back the box at a lower price. Profit is also formed due to the difference in the price of sale and purchase.
The Psychology of Forex Trading in Thai
The psychology of Forex trading helps the trader fight the main enemies. All of them live in our heads. Greed is danger #1. Here, everything is good in moderation. If a trader is greedy too little, they miss a lot of opportunities to earn. Profitable transactions remain, but their number and volumes are gradually decreasing.
When greed takes over, the number of unreasonably risky transactions increases dramatically. The result of uncontrolled behavior is a partial drain of the deposit or complete ruin. The best way to conquer greed and other emotions is to learn to control and suppress them. Do not rush to earn a million or open more positions. It is better to make one deal a day but understand the true reasons for what is happening.
