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Learn to Trade - Ek safal trading ke liye Forex Lot Size aur Best Currency Pairs ko samajhna - Ep. 2 - YouTube
Channel: OctaFX Forex Broker
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so guys, here one standard lot is equal to 1 lac dollars
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so, what is the minimum amount do i need to invest into this as a beginner
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in the future, this is something that'll come in use for the people and the masses, and then you invest
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in it, that's what i feel
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earn money in the demo and then take that
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YES
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loads of money
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log into our main platform and there you can trade
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you don't make money easily on it, you literally mint it
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literally while sitting
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hello friends, i'm Zia and i welcome you to our next session, which is episode 2
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in episode 2, we will learn more about the nuances of trading, going to the next level
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and again, in the show we have our celebrities, Karan, Krystle, Nia and Mohit, but before we move on
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the winners from our giveaway in the last episode, the people who gave the correct answer,
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we will declare their names today
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so on the screen, you can see the names of the winners and they will recieve INR25000 from octafx
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as trading amount
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and those who didn't win shouldn't lose hearts, watch th episodes from start to end, and in the end
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of this episode, i will ask you 3 questions, related to what we will study here and if you give
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the right answers, you could be our next winner
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so, i'll request the winners to text octafx on their instagram page and they will give you your amount
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okay, so here we will show the viewers too what exactly is this website and how to download here
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viewers are supposed to open this website and click on the trading tab and will find the web tab,
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desktop, Android and iOS
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so in short, we can say that, everything is available here and it'll be convienient for the users
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to trade in any manner, which is a very nice thing about octafx
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so in the second episode, we will discuss things of the next level related to trading
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which will be quite interesting, because until now we have only learnt the basic, but now
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i will take you one level further and believe me, by the end of the 5th episode
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all of you will be making a profit, so today we will discuss here about fundamentals,
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technical analysis and risk factor. now the issue with beginners is always, the urge to learn
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everything at once, and when we do that, it creates a mix up resulting into issues
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hmm
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in short, i'll only say this that people don't cover their risk, that is loss. if i'm having a bit
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of a loss, i feel that, no i don't want to lose , why should i leave in loss
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the voice within says; no let's wait a bit more and in that waiting game, the loss only becomes bigger
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and when you try to get out, you can't because all your money is gone
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but has there been a situation where someone has gone completely bankrupt?
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of course, everyday.
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he's like; "oh this is a normal thing, you can go bankrupt too!"
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then why should we take such a massive risk?
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my mother scolds me for shopping online saying where am i wasting all my money
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you go bankrupt when you do it blindly
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what we are talking about here is that we should not go blindly
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so sir, is there an option in the market that we can enter anytime and then exit anytime too?
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yes, yes absolutely
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the forex market is open 24x7 from monday to friday
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okay
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you can say that it is for 5 and a half days and depends upon the time zone
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so like i told you in the first episode, you don't buy here, it is only exchange of currency
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hmm
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so like there is Euro and USD, so if there is some dispute between the EU nations and the US
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then there will be an effect, like the price of USD could fall or the Euro could rise
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correct
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so all these things matter here. this comes under the Fundamentals
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now trading is divided into 2 parts; Fundamentals and Technical.
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now some people only stick to the fundamental
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like watching the news, they find out that there is bad news in the market so it'll fall or it's good
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news so the market will rise.
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some people don't watch the news; they look at the charts, like i'm looking at the charts
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that the news is going on there, and people listen to it and trade
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but i'm looking into the charts and observing the impact of the news
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okay, so i'm seeing that the charts are going down means there is some bad news
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my main focus is not on the news but on the charts
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so this is called Technical Analysis, okay?
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sir but you've been talking heavy duty stuff, because you see we're all instagram kids
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so like all day, for others it's Sensex but for us it's instagram; likes, likes, likes; oh great, great, great
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so that's how it is for us; so like can we connect instagram to trading?
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see we can't connect instagram to trading but i think our mobiles have features
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to split the screen, so you can do it through that otherwise, there are app notifications etc.
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ocatfx has an instagram page we can follow that
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sir, in the first episode, you told us about the trading pair, can you elaborate a bit on it?
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yes sure, we'll continue on trading pairs and i'll take you directly onto the screen
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and there i'll explain to you what exactly are trading pairs and then we'll discuss about lots
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so here i'll explain to you what exactly are trading pairs, okay?
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so you'll find it a little tricky to understand initially, but it won't be that tough either
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sir, according to what we scored in maths, we are aware how tough this is going to be
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still, the people who scored less in math turn out to make a lot of money still
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i scored high in maths, what do i do? like will i not be able to do anything here?
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no, you won't be able to do anything here!
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nope, it can't happen now
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no, now let it be, let's talk money
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sir, just teach me how to make money
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yes i was just doing that
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so the first trading pair i'll put here for an example
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does anyone from you have any idea about what this is?
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Euro and USD
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Pound and Dollar
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Euro and Dollar
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no Pound is different
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Pound will be GBP
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but sir, we are in India, then why should we trade Euro and USD
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shouldn't we trade in Indian Rupee and USD
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you can, there are a few exchanges in India, where you can trade in pairs of INR
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okay
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however, we are talking about octafx here so we'll trade in foreign pairs, okay?
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okay
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so now you all understood this, Euro and USD. now any idea what does this exactly mean?
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how much is 1 Euro for 1 USD
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this means that; the first currency here; it's called the base currency
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and the second currency here is called the quote currency
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how much USD is needed for 1 Euro
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got it
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so here you get this value, so like when we exchange currency when we go to foreign countries
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if you need dollar, how much INR you give
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okay alright
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similarly, for 1 USD how much Euro you'll need or vice versa
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okay
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okay guys, now next in pairs, there are a few categories
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like major pairs, minor pairs and then a few exotic pairs
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what are exotic pairs sir?
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exotic pairs
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the word sounded nice so we got stuck there
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exotic pairs are basically USD being traded in pairs with currencies from some different countries
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okay
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the fluctuations in those are high, and so it is quite risky, so we'll focus on the major currency pairs
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because the majority of the money is in those only
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so the major currency pairs are, and the best in those is -
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Euro USD
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and then USD CHF
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will anybody tell what this is; CHF?
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which country this belongs to?
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Hong Kong?
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no
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this is Swiss
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Swiss?
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Franc innit?
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yes
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so this pair is also very good, this also has good volatility; as in the market movements are quite good
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but the Swiss deal in Euro right, i've been there
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no no, the Swiss Franc is denoted by this
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and apart from this, there is another currency pair which is quite good, that is USD JPY
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Japan
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yes, that is Japanese Yen
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Yen, Yen
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okay
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so in these pairs too, if you are trading, you can pull off a decent profit
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in fact, many big traders, they only hold onto 1 currency pair, that is Euro USD
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okay
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hmm
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this is a very nice currency or a powerful one because it has quite high volume
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volume in the sense, that there is high trading here.
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now why is trading high in here? because there are 2 sessions, like the European sessions
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for the Euro and the US session in the evening. these mix up and overlap
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overlapping brings more people, more people brings more volume
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which means the movements in the market are quite good
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which is why more people trade in this and earn profits
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in fact there are many currency pairs and you can trade in anyone of those, but these are first choices
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now i'd like to ask you all is, that you're all aware about the stock market
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yes
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like you do have a bit of an idea about what it is?
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yes, seen it on TV
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so in that, suppose you buy something, you select a quantity
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yes
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so there, the quantities are dependant on you, you buy 1, 100 or 25; it's on you
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similarly when we trade in forex, there are lots, lots are basically
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we get a fixed quantity, okay? like we can't randomly get 10 or 15, there's a fixed quantity which
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we call lots
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now what are lots, i'll explain to you here and that is also divided into 3 categories
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okay
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so we can't decide it, it's pre-decided?
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you can decide the lots, how many lots you want to trade, but the size of the lot remains fixed
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so guys, here 1 standard lot is equal to 1 lac dollars
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now you must be thinking you need 1 lac dollars to trade; but it't not like that
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this thing has been quite simplified by octafx, in the sense, there we're given leverage
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leverage means, if you have less amount and you want to make a big trade
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so you get something like a discount from there
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for example, the leverage that octafx offer is of 1:500, which means if you have 1 dollar
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you can trade upto 500 times it's value, that is 500 dollars
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okay
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now if you don't want to go in such a big lot; and i personally don't recommend beginners to
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because this is a big amount and they enter it and make a loss in the start and that demotivates them
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they're like no we don't want to do it, i've made a loss, it's a bad thing.
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so we shouldn't do this either right?
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no you don't have to go on to this; the standard lot
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can't go also sir, this is a lot of money
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okay so i'll tell you a smaller lot than this
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yes, yes a smaller one, like slightly smaller
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and because of the lockdown, an even smaller one
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after this, comes the mini lot
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the mini lot is defined as, when you place an order, as 0.1
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this looks a little safer
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okay
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that is equal to
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sir, can we not customize this by ourselves, as in, we don't want to invest too much or little but
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somewhere in the middle
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i think mini lot is that only
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yes yes, there is an even smaller lot
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here comes Nia's micro lot
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this one is 0.01 which means 1000 dollars
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okay
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hmmm
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so the lots in currency trading, they are divided into 3 parts; standard, mini and micro
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okay
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the beginners should go with the micro lot, which is 0.01, that is equal to 1000 dollars
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and in this too when we take a leverage of 1:500 and suppose you took 5 lots of 0.01
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then how much will it be? 0.05
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just like Mohit asked, can we do something in between
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yes
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so for the in between, what you have to do is multiply the lots, that is, the minimum is 0.01
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it's the starting point, nothing below it
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so what is the minimum amount needed to trade in this, like as in, i'm a beginner
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how much will i have to invest in the starting
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se you can invest as much as you like, but as a beginner
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minimum amount
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minimum amount in my opinion to start on octafx is 20 dollars
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exactly, so now what will be the lot for that value?
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see, the 20 dollars you invested, if you can get a micro lot in that and go with leverage as 1:500
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okay
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then in my opinion, the margin will be 8 dollars, that is out of 20, only 8 dollars would be used
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oh
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i didn't know that, this is something that should've been told
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which means you're using 8 dollars as margin, you have 20, but you're making a trade of 1000
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got an idea?
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why is it 1000? because you're using a leverage of 1:500. octafx also has brilliant opportunity
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you can say, it's an excellent platform, which is the demo platform
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demo, you have an idea.
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fake money!
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it is only for learning purposes
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yeah
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demo as in, you can go back in 7 days if you'd like
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in the demo platform, you can trade with, like she said, fake money, but the trades will be real
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and it'll work like the movements in the real market
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correct
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and there are a few promotions by octafx, like they have this special promo
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where you trade on the demo, earn on the demo and then take the money
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the demo is meant for practice, it'll help you com across and rectify your mistakes
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and after correction you'll be better off. so the purpose of the demo is that much only.
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but along with that, octafx is giving you a winning amount too to bring motivation
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so that you'll make real trades on the real platform
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so now you understood this, now after this we will talk about short term and long term, okay?
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so if you have less time, you should go for long term, where you put in your money
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and then you wait for a month, expecting that the price will be good after a month
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and then book your profit
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and if you're full time, then you should go with day trading, where all day through evening; 24x7
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the forex market runs and you can trade anytime
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right
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and short term is for an even lesser amount of time
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so this is also divided into 3 parts, day trading, short term and long term
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now what we'll do is, let's checkout the desktop application for octafx and what's it about
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how to operate it, how to make a trade and how to checkout lots in it
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we'll see it all now in a glance.
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so now, first we have to create an account
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so now you can see here, there is an option for a primary account
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and if you see below, you can see a list of all the accounts that are present here
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you can see it here on my screen, here's the demo account, the value, the balance and all of it
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and on the right side you can see, there is a trading account here, you have to click there
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on the account list. now here you can see, it says open a real account
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and next to it you can also see the demo account, it has 0 in it
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so you have to now click on open a new demo account
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now here, this is the most important thing for beginners, like i said earlier
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we have to start with a smaller lot, so you have to open your account in micro
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okay, MT4
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now octafx gives us 3 options, MT4, MT5 and ECN. most currency pairs are available in MT4
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some European and Amercian stocks are also covered in this, apart from that cryptos are also in it
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next is MT5, or the MetaTrader 5. this has a few more indices of stocks in it but we don't need those
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in the start. ECN also we don't really need, that is only after you reach a certain level
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we will only start an account in Micro right now and make good money in this itself
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so we don't need to go ahead unnecessarily right now
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so you have to click here, where it says selected on the Micro tab
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so here you can see that, your demo account is successfully opened, on the screen
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and here you can find your account number, trader password, investor password
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and all of those things, right here.
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by using this, we have to login to our main platform and then you can trade
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when you open the desktop application, this is what you'll see on the screen
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okay
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now what you have to do is, on the left side where it says demo, or by right clicking on the accounts
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you have to click on the login to trade account option
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okay
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when you click, this box will popup and you have to enter your login and password
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and for that the account that we had just created, the account number, that is the username
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which we have to enter, okay?
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and after that the password will be the trader password. after logging in after entering these
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then you'll see these things on the screen meaning you have successfully logged in
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and on the bottom corner you can see the connection has been established
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now we have to see the markets here. by pressing Control+M, you can see the markets on-screen
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you can see the market has started and is live
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yes
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USD CHF, GBP USD, Euro USD, all of these have been given here. here the bid price and ask price
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and the gap or difference between them, is called the spread
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and that is a kind of brokerage that octafx charges.
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okay
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now the best thing here is, the spread of ocatfx between any currency pair is very low
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that is, the brokrage is very low and that is the best thing about it
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so here, on the dashboard, all the currencies have been given and to see any currency on chart
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you simply have to right click on it and then on chart window from the dropdown menu
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okay
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so here you can see the chart, for example i have the Euro USD chart on-screen
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here you can see the chart. so now here, in the oncoming epsiodes, we will focus on the charts
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yes
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try to understand them, and our main strategies in those, they will be phenomenal
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as in, believe me, once you learn those, you'll drop the demo account for the real one right away
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loads of money
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you won't make money easily in it, you'll literally mint it
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now that's something
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now i'd like to tell the viewers that, if you have seen this episode properly
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then i'll ask you 3 questions from it and your first question is
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in major currencies, when i told you about them, which were the pairs to focus on more?
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okay guys, second question is
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i have told you about lots, like standard lot, mini lot and micro lot
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so which lot has the least quantity in it is what you have to tell
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and today's final question is, that i asked you to open an account on octafx's website
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which account do you have to create
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and so along with this friends, those of you who want to open a demo account, there is an offer
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by octafx, where you have to use the promo code LEARNFOREX, and if you use that
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whatever you'll deposit, in fact in your real account, the amount will be doubled.
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and guys please like this video, subscribe and share with your friends
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everywhere on WhatsApp, Instagram, Telegram and all othr social media options you have
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so that your friends also get an idea on what is forex and what's octafx and how to trade in it
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so guys, that's all for now, see you soon and till then, take care and have a great day!
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you're ready?
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ready!
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now many good traders, they simply hold onto the RSI and do brilliant trading
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what do you see on the chart?
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i think it looks like an ECG graph, like the heartbeats going up down up down
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these are trend lines!
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how would we know from this line when we have to buy and sell?
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when you start making lines here, you'll forget how to throw lines elsewhere
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the profit from 1 tip is 10 dollars
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profit and loss is a part of trading
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here you have to get a 90 and a 10 here, okay?
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this is called Agressive Settings
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we'll earn money!
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exactly
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woah!
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