Forex trading tutorial

Introduction

Here’s our guide for beginner traders that will put the main ideas of the Forex market in a nutshell. The forex trader tutorial has been devised by the professional traders of the LiteForex Company whose extensive experience helped optimize its structure and contents. The tutorial offers all you may need for a quick start of your trading career.

If you are not acquainted with the terms and don’t have the least idea of how this system works, this Forex tutorial is exactly what you need. From the very beginning, you will appreciate the accessibility of the provided information. After reading the first section of our forex trading tutorial, you will understand the way the Forex trading system works and you will be able to communicate with your trading peers as an equal.

Traditionally, like any other Forex trader tutorial, this tutorial contains basic information on fundamental and technical analyses. The main mechanisms of price formation, the market impact of political and economic events, and other factors that affect stock prices are set forth in a simple and understandable way. Particular attention is paid to the popular methods of technical analysis. The author examines in detail the indicators and graphical patterns used by traders.

As you may have already noticed, a great deal of Internet blogs is devoted to trading psychology. It’s not for nothing! The Trading Psychology section of our Forex tutorial deals with the question of what the psychological pitfalls of trading are and why it’s so important to work on yourself.

The money management section of this Forex tutorial is worth a special mention. It reflects the authors’ personal experience since this subject is part and parcel of practical application and therefore cannot be examined separately. You will learn to control risks and place Stop Loss and Take Profit orders wisely, the way Forex market professionals do.

The last section of our Forex tutorial will help you build your own trading strategy. Starting with the basic idea and concluding with testing and adjustment, you will develop your first trading system together with the professional trader. This section is a logical conclusion of the whole tutorial as from now on you can start your safe journey in the world of Forex trading. Feel free to download our Forex tutorial right from LiteForex’s official site.

Introduction

Technical analysis

The fundamental analysis

Risk Warning: Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.

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Forex Trading Strategies

welcomes you to 2017!

If you want to start online Forex trading in 2017 or just looking for bestForex trading strategies that work. then you’ve come to the right place.

Or if you wan’t to learn Price Action trading then if you click this link, you’d be taken to my very comprehensive Price Action Trading Course …and yes, its FREE.

You have full access to hundreds of free Forex trading strategies and systems for different levels of traders from beginners to veteran traders:

How To Create A Solid Forex Strategy

One biggest mistake for many new traders is starting to trade Forex without a solid Forex trading strategy.

The Forex market is really attractive because it operates 24 hrs a day and you can trade when the market is going up or when the market is going down and in the eagerness to make money, or prove themselves they dive headlong into trading.

Does that mean the beginner Forex traders cant make money?

Yes, you can make money trading Forex…and its if you are a beginner trader and you get into Forex trading and start making money right away, you should be very careful to let ego overcome you.

You can make a fortune trading currencies in the short term but soon this will lead to a bad psychology and trading discipline problems and you’ll end up blowing up your forex trading account.

Good trading discipline, psychology and humility are only achieved through experience.

To be successful in Forex trading, you’v got to have a strategy/plan in place which you must follow.

Creating or finding a Forex trading strategy is very important as this addresses the following:

  1. Reason for taking the trade: why buy or sell? And what currency pair?
  2. Timing of the trade: why buy now? should you buy or sell after economic news release? Asian session, London session? New York session?
  3. Trading objective: what’s the profit target? What’s your stop loss?
  4. Money management? How much are you risking per trade? Per day?
  5. Documenting and analyzing your trading results? This identifies your strengths are well as weaknesses.

What is your reason for entering a trade?

And there should be a really good reason!

If you are entering a trade out of boredom or just the need to take a trade for the excitement, this is a recipe for disaster.

Nothing feels more worse than entering a trade and watching a trade turn into a loss when you precisely know you should not have taken that trade in the first place!

Every trade should be taken based on a condition that’s been stated in your trading strategy, whether it be a technical reason or fundamental reason or both. Follow what your trading strategy says.

Free

When selecting which type of forex trading strategy to use, you have two options:

  • You either pay for them
  • You can use any of the free Forex trading strategies on this site and test them out.

The trouble with paid Forex trading systems is that:

  1. You can spend a lot of money on buying a Forex trading strategy that does not fit your trading style.
  2. Later down the line you realize it does not fit your trading personality so you won’t be using it once your initial fascination starts to wear off. Waste of money.

With free Forex trading strategies:

  1. You have the option to test them out without paying for them and eventually find a trading system that suits you.
  2. Free Forex trading strategies can make money in Forex.

With that in mind, this Forex website has hundreds of Forex trading strategies for all kinds of traders from beginners to advanced traders.

You may also like these:

These Forex trading systems range from simple Forex trading strategies to complex Forex trading systems, from Forex trading strategies for beginners to advanced traders and including Forex price action trading strategies.

Here are the 6 different types of Forex trading strategies and systems on this site:

Table Of Contents

1. Forex Price Action Trading Strategies

These are Forex trading systems that are based on price action. Either they can be pure price action trading, which means they only rely on candlesticks and (or) chart patterns or a combination of other Forex indicators with price action. Yes, you can do currency trading just by looking at the price bars.

  • For a huge and amazing list of free Forex price action trading strategies , click here .

You can learn such price action trading systems like:

Click here to go to the the price action trading strategies.

2. Forex Scalping Systems

The next group of Forex trading strategies on this Forex website are Forex scalping strategies .

If you wan’t to be a forex scalper, you got to find trading systems that you can trade in a much lower timeframe like the 1 minute and the 5 minute timeframes.

Forex trading strategies

Forex Scalping Systems

Here are the list of forex scalping systems on this site:

To check out these free forex scalping trading systems and strategies listed above, click here .

Best Forex Scalping Strategies

If you are thinking of Forex scalping, you must have balls of steel and really high concentration and don’t even try to blink too (just kidding).

Here are some Forex scalping systems and strategies on this site:

Forex trading strategies

What Is Forex Scalping?

Forex scalping is a day trading technique where Forex trader executes a trade and exit within minutes or seconds on some cases.

So essentially, when you a forex scalp trader, you are not looking for big profit targets, you are looking for very small profit targets per trade like 5 pips, 1o pips or even 15 pips. And you are trying to take many trades throughout the trading session with these small profit targets.

So what’ the point of Forex scalping then?

Well, here’ the thing: the goal of the FX scalper is to make many trades throughout the trading session and hope that in the end, all those small profits will add up and exceed the trading losses incurred (and take care of spread costs for trading).

Many Forex trader do not like Forex scalping because they see no point in going for very small profits and being involved with this kind of high pressure trading environment.

But the funny thing is that hare are many trader that do like Forex scalping. If you are interested, this forex website also has forex scalping strategies which you can check them out and try if you like by clicking here.

3. Forex Currency News Trading Strategies

Then there are also Forex news trading systems here.

If’ you’d like to trade non farm payroll or interest rates decisions or employment/unemployment figures that are released monthly, these forex news trading strategies and systems are what you should be using.

Trading news can be both profitable and extremely risky as well.

If you don’t know what to do, do not trade news. You can wipe your trading account within a few seconds to minutes because price can move against you so fast you will be caught out.

But if you are not using Forex news trading strategies and then these days, its best to check everyday before you trade what major economic news releases are scheduled to be out and then decide if you wait until the news is released then trade or just simply wait for another day.

These are Forex trading strategies where you can use to trade forex news:

For more information on the news trading strategies, listed above, click here .

4. (Basic) Simple For Beginners

If you are a beginner, having a complex and advanced Forex trading strategy will confuse the heck out of you. Take your time!

What you need is to start with are basic Forex trading strategies and work your way up from there. These are really easy forex trading strategies.

Being a basic Forex trading strategy does not mean they are going to be unprofitable trading systems.

Simple here means that the trading rules of these Forex trading strategies are really easy to understand and execute when you are trading.

There are not many conditions or rules to confuse you. That’s why these are suitable forex trading strategies for beginners.

  • for an awesome list of simple forex trading strategies for beginners, click here .

Forex trading strategies

These are really simple forex trading systems suitable for beginners who are starting to trade forex.

Being simple does not mean that these forex strategies are not profitable. As a matter of fact, simple forex trading systems are much easier to use and can be extremely profitable.

Once you get the hang of it, then you can start to develop your own forex trading systems or move on to more advance forex trading strategies and even price action forex trading strategies.

If you are a beginner forex trader, you really don’t want to confuse yourself too much with all the other stuff…just find a simple forex trading system and demo trade it out for a while.

What you will find is that the simplest forex trading systems are the ones that can make money. Find out, stick to it and try to make it work for you by sticking to its trading rules with proper trading risk management.

5. Complex

As you progress up the ladder in your understanding, you’d come across to complex forex trading strategies and systems.

These type of forex trading strategies need a lot more thinking and trading conditions and hence the name-complex trading strategies.

Forex trading strategies

6. Advanced

I don’t know why I have to put up an “Advanced forex trading strategies” category but I have so there’s nothing I can do about it now.

Almost similar to complex forex trading strategies, the advanced forex trading strategies do take a bit of getting used to.

There can be a lot of conditions to fall into place before you can execute a trade.

Forex trading strategies

These forex trading strategies in the advanced category do involved a bit more thinking and they are not so simple if you are new forex trader.

Forex Trading strategies like:

Cick here to head over to these list of advanced forex trading systems given above.

Price Action Trading

Price action trading is simply technical analysis trading using the the action of candlesticks, chart patterns, support and resistance levels to execute orders.

To be a better price action trading, you need to have a solid understanding of how price action theory and how to trade it in real time.

For this reason, I’ve written a price action trading course. And yes, its not going to cost you anything…it is absolutely free.

Ff you like to to to know how to trade with price action then click this link and you’d be taken to my forex price action trading course which will teach you to become a better price action trader.

In the price action trading course, you learn about such things as:

and lots more. Click here to go to this price action trading course.

  • If you’d like to know the type of forex trading strategy that one newbie forex trader used to make a million dollars in trading forex then read this post I wrote: How Fred Made $1 Million Dollars From 40 Trades In 3 Months-You Wouldn’t Believe What Happens Next !)
  • if you want to know how to multiply your forex profits fast then the pyramid trading method is one method you should know and learn how to do it properly.

And this is not all, there are:

  • lots of trading tips, trading methods and techniques,
  • forex indicators
  • expert advisors
  • forex articles

All you need to do is search the different categories of this website.

In here, there’s hundreds of free forex trading strategies and systems for different levels of traders from beginners to veteran traders.

So take your time to explore and I hope that you find the best forex trading strategy that you can use to trade the forex market and many profitable pips to you.

4 Essential Elements Of A Forex Trading Strategy

What is a Forex trading strategy (system)?

A forex trading strategy is simply a set of rules telling you when to buy or sell when certain market conditions are met in order to make a profit.

Any forex trading strategy should have these 4 core but basic elements:

  1. the condition(s) that should trigger you to buy or sell.
  2. where to place your stop loss order ,
  3. where to place take profit target
  4. and the system should have rules on how to manage a trade.

That’s the definition of a what a forex trading strategy is.

If a a trading system that does not have any one of these core elements, the you are going to be left confused in implementation.

To put simply, forex market can be said to be chaotic. So to have order in a chaotic market, you got to have rules.

Forex Strategies Resource

There’s also a lot more Forex strategies resources in this Forex website which includes:

Let me give you a brief overview of what is in them…

Candlesticks And Chart Patterns

In here, you have:

Forex Trading Videos

Watching forex trading videos is one quick way to learn about forex trading as well as to grasp trading concepts much quicker including learning forex trading strategies.

Forex Trading Videos in here include the following:

Free Forex Trading Signals (FREE)

I also provide free forex trading signals. These forex trading signals are based on price action trading setups.

It is really becoming on of the popular item on this forex website so I ask you to book mark it or join my email list where you get sent trade setup alerts sent weekly:

How it works in the forex trading signals area is that I will post the forex trading signals that may happen during the week giving your the charts and trading setups and how you can trade them.

After the week ends, I will give you an update of what happened in the forex trading signal review page.

In this way, you can actually see the “before” and “after” situation of price action at work and I hope that this will give you a better understanding of trading price action.

That Work

Every forex trader is different…what you like is not what I like. What you think is the best Forex trading strategy for me will not be the same.

This question is left for each individual Forex trader. You need to find the Forex trading strategy that fits your trading personality and when you do…then that would be your best forex trading strategy (in my opinion).

Therefore, if you are looking for Forex trading strategies that work. just understand that one system cannot work for all.

I may like price action trading but you may like to use indicators in your trading system. You need to research and test and find out what type of forex trading strategies and systems work for you simply because every body is different.

I’f you like moving average forex trading strategies, there’s lots of them on this site. If you like scalping Forex trading strategies, they are here to.

If you like news trading strategies, they are here to. If you like day trading strategies and systems, there are here to.

If you like swing trading strategies and system, many of the strategies here are swing trading systems.

All you need to do is find one that you like and make that Forex trading strategy work for you.

Or if you don’t find a Forex system that you like but there’s one that you “sort of like” but still does not really fit..then why not tweak it?

Why not change it by combining a few different trading techniques or ideas from “this trading system” and “that trading system” and then make a trading system you are satisfied with?

Nobody’s going to stop you.

Now, lets say that after you’ve found your Forex strategy that you like…what do you do next? Well, open a demo trading account with a Forex broker and test out the system to see how it works in real live market conditions.

That’s the only way you know how the forex trading system will work. All trading strategies and systems may look nice on this site but if you like on trading system, you really need to test it out.

Then once you’ve are satisfied, then you can start trading with real money.

This is where the fun begins…trading with live money.

How many Forex trading strategies do you need?

If you prefer to trade only one type of trading setup then you’d only need on forex trading system.

But if you like to trade different market conditions then having several solid forex trading systems for each of the different market conditions is essential.

  • if the market is in a trend, then you’d be using a trend trading system
  • if the market is in consolidation or in a range, you’d have to use a range trading system
  • if the market is getting to major support or resistance levels, you may have to switch to using a support and resistance trading system.

So its really up to the forex trader to decide. If you are beginner forex traders, I suggest you just pick only one forex trading and stick to it.

Forex Day Trading Strategies

If you are keen on day trading, there are so many forex day trading strategies you can find for free here and adapt them to suit your day trading style.

You just have to use your imagination: if a forex trading strategy is based on the daily timeframes, why not change the timeframe down to 15 minutes and see if it works in that smaller scale timeframe as well?

So if you see a forex trading system saying that “its is suitable for trading using only the daily timeframes,” that does not mean its written in concrete.

You can try that trading strategy in a much smaller timeframe so you can day trade.

Forex Trading Basics

Trade Forex With a 9-5 Job?

Similarly, if you are a man with a 9-5 job and trading Forex, sometimes its hard to trade while at work, right? Why not find a forex trading strategy that does not take a lot of time and that system is like a “SET AND FORGET TRADING SYSTEM.”

Well, there are forex trading strategies here that fit that criteria…you only need to trade once a day and check for the setup once a day.

If time is what you don’t have, I believe finding such a forex trading strategy will help you achieve the aim of trading forex while working.

Otherwise you will always have to hit the “boss key” when somebody comes around to your desk at work!

Swing Trading vs Day Trading?

Every forex trader is different. Some like trading shorter time frames and keeping their traders open for shorter periods which means day trading technique sort of comes into play here.

But then there are forex traders that are swing traders…

Swing traders are those traders that take a trade and have a much medium to longer term outlook. This means a trade can be opened and it may take a day to week or even months before the trade is closed. Swing traders like to wait for the trade to play out…how long it might take depends on price action and market movement really.

The advantage of swing trading therefore is the fact that, all the minor price fluctuation in smaller timeframes (which is the domain of the day trader) is ignored and a larger long term view is held regarding each trade that is placed.

The advantage of swing trading therefore are these:

  • trades held for days, weeks and months mean a lot more profit
  • minor price noise is irrelevant
  • trades are often entered at swing points, which are in most cases, present really low risk, high reward trade entry points.

The only main disadvantage of swing trading is you’ve sometimes have to maintain the trade even in its up and down swings of price as it heads towards your profit target.

The advantages of day trading are these:

  • profits or loss realized in a shorter timeframe during the day.
  • much more trading opportunities can be found during the day.

The disadvantages of day trading are these:

  • small profits for each trade
  • potential to over-trade
  • high pressure and hectic trading environment and need to be on constant alert to scan your trading charts for setups.

Scalping is also a very shorter form of day trading…it takes minutes or seconds to open can close a trade.

Top 10 Forex Swing Trading Strategies

Click that link above to check these amazing forex swing trading strategies out.

The Best Forex Brokers?

My general advice is this:

  • find forex brokers that have been established a long time a go and have good reputation and governed by forex regulatory bodies
  • find forex brokers that have offices in reputable countries like in UK, US, Canada and Australia because the regulatory compliance of these countries are much better than others..that’s why I say that. In the US, a reputable forex broker will be a member of National Futures Association (NFA) and will be registered with the U.S.Commodity Futures Trading Commission (CFTC) as a futures commission merchants and retail foreign exchange dealer. In UK, forex brokers are regulated under the Financial Conduct Authority(FCA) and in Australia, forex brokers are regulated under the ASIC.
  • also select forex brokers which have lower spreads. You trading cost increase if you have trading account with forex brokers that have huge spreads.
  • some forex brokers also have minimum deposit they require before you can trade. Check them out before opening a trading account with them.
  • ease of deposit as withdrawal.
  • how many currency pairs are offered.

Best Hours To Trade Forex?

Opinions may vary but one thing is certain…its much more easier to make money trading the forex market when the fx market has volatility and momentum.

And so the when it comes to that, many forex traders like to trade the forex market during the London Session and the New Your Session.

The London forex session is where huge volume of forex transactions are made everyday which is followed next by the New Your Session.

In the Asian forex trading session, its is most often characterized by thin volumes during the day.

Its best in my opinion to trade forex during the London fx hours or during the New Your forex trading session.

Best Currency Pairs To Trade?

Choosing a currency pair to trade is very important. Here’s why:

  • some currency pairs do not trend very well
  • some currency pairs only trend well during certain times during the day, for example, london and new your trading session.
  • some currency pairs have very large spreads in excess of 3-5 pips with some forex brokers and if you trade one standard contract, that’s roughly $10-$50 loss right away after you enter a trade and price has to move by this much in the direction of your trade to make that trade breakeven.
  • some currency pairs have very choppy characteristics which means they have tendency to spike and if your stop loss is too close, you’ll get stopped out

Forex trading strategies

How Often Do You Have To Trade?

WILL YOU HOLD POSITIONS FOR A LONG TIME? OR WILL YOU BE A DAY TRADER? Most traders are not full time traders because most will have day jobs while trading and this will often determine the type of trading a trader does from being a day trader to holding positions for a long time like a swing trader.

For some, because the forex currency market operates 24hrs during the day, they can trade after work for a few minutes or hours each day.

Your End Goal In Forex Trading

Forex trading strategies

Success Belongs To You

What is your profit target, what is your stop loss, how are your going to manage a profitable trade?

Nothing is more frustrating than seeing a positive trade turn into negative and eventually into a loss. That’s why Its important to place take profit targets, your stop loss and also you plan of trailing stop activation: when and on what condition you are going to activate it.

Setting profit targets also helps you stop taking very little profits TOO EARLY.

Price will go where it wants to go. So if you have a buy trade, don’t think it will go up. That’s why you need a stop loss. Stop loss creates discipline and DON’T MOVE YOUR STOP LOSS as price heads to it…take that small loss instead a a big loss.

There’s another day to trade tomorrow. Trade for the long term…don’t trade like there’s not tomorrow.

Holy Grail Of Forex Trading?

The holy grail of Forex trading is money management. Sometimes called Trading Risk Management.

You get this one right by being disciplined and doing the right thing and what you will see it that it’s only a matter of time before you will start making good money trading forex.

What blows millions of forex trading accounts is Money Management. So doesn’t it make sense to grow yourself in getting this right?

You see, no forex trading strategy will give you 100% success rate. None. Once a trade is placed, the outcome that you want is not guaranteed because you can’t control the market price and where its going to go next! You are at the mercy of market forces of supply and demand buyers and sellers.

But what you can control is RISK. That’s the only thing you have absolute control over in a trade…your trading risk. You decide how much of your account you are going to risk in a trade.

Forex Trading Software

These days, when you talk about Forex trading software, it can be:

What are expert advisors? Expert advisors are trading systems coded so that this program can buy or sell without any human intervention.

If you have a forex trading strategy with clear rules on when to buy and sell, it can be programmed into an expert advisor.

Now, forex indicators, on the other hands are tools that that you often find on your trading platforms that assist you making a decision to buy or sell.

Moving averages, Stochastics, MACD, just to name a few, are forex indicators.

Now, when you open a demo account or a real live account with a forex broker, the software that you use to buy or sell is called the trading platform.

Many forex brokers these days also provide the Metatrader4 trading platform. The MT4 platform is a software that is easy to download and it my opinion, one of the very easiest to understand and use.

You will in no time at all understand how to use the MT4 trading platform and off course, its free to use as well provided by the forex broker.

Be A Profitable Forex Trader

Many traders make and lose a lot of money trading Forex.

Why because the human emotion is involved…greed and fear come into play. When your real money is on the line, you’d tend to do things you’d never do while you’d demo trade.

The temptation to trade a lot and make a lot of money “right now” is one biggest killer of forex trading acccounts.

It all comes down to controlling and managing your risk. Failure of this and you will not last long in trading forex online.

Can you make money trading Forex?

Yes and No. This is not a surprising answer. You can definitely make money. And also you can lose a lot of money.

The secret to making money in forex trading is managing your trading risk and finding a forex trading strategy that fit you.

Everything else is irrelaveant. If you can control your emotion and manage your trading risk, you will do well.

Yes, if you manage your trading risk and have balls of steel…Really, you can be profitable if you eliminate those things that sabbotage your forex trading like:

  • over trading
  • risking too much
  • not following your forex trading system’s rules
  • not following your trading risk management plan that you had.
  • not waiting for the right trading setups to happen before taking a trade because you are in a “rush” to take a trade

Its these things that will make you an unprofitable Forex trader and you can lose a lot of money if not controlled.

There’s a saying ” I’ve seen the enemy…and its me.” This is very true in Forex trading. You are your worst enemy when it come to Forex trading.

If you are new trader, you will see this and think I’m lying…

But wait till you’ve trade real money for a while and you will know what I just said is true.

How much do you risk per trade?

There’s so many schools of thought about how much risk one should risk per trade. But remember this: if you risk more of your account in a single trade, it would not take long before you can wipe out your forex trading account but on the other hand, you can make a lot of money if the trade goes right.

But you are trading forex for the long term, it makes complete sense to risk a small percentage of your trading account in each trade. The reason is simple: its would take so many losing streaks to blow your forex trading account.

So what’s the best % risk?

I’d say stick to 1-2% of your account in each trade. You may even go up as 5% risk per trade. But remember, with a 5% risk per trade, all it would take is 20 consecutive losing trades and your account will be wiped out.

The more you risk the more you lose or you can make more. You play this risk management game right and you can be making a tonne of money trading forex.

Trade Forex From Your Home

The beauty about Forex trading these days is as long as you have an internet connection and you have a laptop/computer or iphone/ipad, you can literally trade from anywhere in the world.

The currency market is at your fingertips in other words.

Which means, if you are housewife reading this, you can trade too. There are forex trading strategies on this site that allow you to take ONLY ONE TRADE A DAY and you only need to check the trading setup once a day.

Forex Trading Course (FREE FOREX COURSE)

There are many website that are selling Forex courses online. I know some of you don’t have the money to spend on such paid Forex training courses.

So I put together something I would have wanted as a beginner Forex trader.

I spent a lot of time making up a free Forex trading course for you. All you need to do is click this link: Forex trading course .

This Forex trading course covers most of the essential things you need to know before you start trading Forex.

Apart from this Forex course. have a look around on this site, there are so many strategies and trading tips and articles that can help you as a Forex trader.

It means the world to me if you can share this website with your friends and fans on Facebook, twitter, Instagram, or whatever trading forum you are on because you are benefiting from the free information I’m providing here and your friends will really thank you for showing them this free forex trading strategies site as well.

Swing Trading For Dummies Crash Course

This is a swing trading for dummies course that teach you the basics of what you need to know about the swing trading, the type of swing trading strategies and a few swing trading techniques and tips.

It should take you about 10 minutes to read through it word for word but if you just scan through it, it may take you 3 minutes.

Let’s get started?

Table Of Contents

Swing Trading is a short to medium term trading method which means that trading positions can be held for at least two days and upwards to a few weeks.

Now if you compare this to day trading. trading positions are opened and closed withing the same trading day. Nothing is carried on to the next day.

Okay, so swing trading is defined as a trading method, right?

But what actually is that trading method or what are the characteristics of a swing trading method apart from a trade being opened for more than 2 days, which essentially is the timeframe required to classify a trade as a swing trade?

To answer this question you need to understand these two things:

Why? Because this is essentially are the “bread and butter” of swing traders.

When you look at a price chart, to a naked, untrained eye, it simply looks like this:

Forex trading for dummies

But to a swing trader, this chart tells a lot more things than what the untrained eye can see, things like:

  1. a swing trader can easily identify the past and current trend on the chart and know if the structure of the trend is intact or not or if the trend can potentially change because the structure is broken
  2. a swing trader can easily identify the past price upswings and downswings and these can either form support and resistance levels that price can bounce up or down from some time in the future.
  3. a swing trader can easily identify the major support and resistance levels

This EURAUD daily chart below is the same chart as above and shows how the price moved between Jan 2015 and April 2016.

And when a swing trader looks at this chart, this is what he sees instantly:

Forex trading for dummies

To a swing trader, trading with the trend is really important.

Because in a trend, there are two things that a swing trader looks for:

  1. to see if the trend still intact or is the trend about to change or showing signs of changing
  2. and then once trend identification and analysis is complete, the next thing a swing trader does zoom in closer and look that the up swings and down swings of the trend.

Why look closer at the upswings and downswings of price in a trend?

Answer: that’s where the the best trade entries for swing traders generally are taken because such levels offer really good risk:reward ratio.

If you don’t know how to identify trends or the structure of trends, I recommend you read my price action trading course about trends and the structure of trends .

These two charts below will explain the concept of down swings and up swings in a trend very clearly…

This first chart shows AUDCAD on the daily time frame in a downtrend market.

Next thing you also notice is the price patterns of upswings and downswings as price continues to go lower and lower.

Forex trading for dummies

A similar but opposite situation happens in an up trend market as shown by this EURUSD daily chart below:

Forex trading for dummies

These up swings and down swings of price are like the waves in a trend:

  1. in an uptrend, the peaks and troughs of these upswings and down swings are increasing.
  2. in a downtrend, they are decreasing.

So in an uptrend market, price makes increasing higher highs and increasing lower lows. So here are some important points for you to remember:

  • the downswing in an uptrend happens when price makes a higher high (HH) and moves down to a higher higher low (HL).
  • So that whole distance between the formation of HH and HL is a down swing…it is not just one point.

Higher Highs and Higher Lows In An Uptrend Forex Market

Similar, in a downtrend or bear market:

  • the downswing happens when price makes a lower high (LH) and moves down to a higher lower low (HL).
  • So that whole distance between the formation of LH and LL is a downswing…it is not just one point.

Lower Highs and Lower Lows In A Down Trend Forex Market

Once you begin to understand these concepts mentioned above, you will see and understand how trends end or start. This is the very important trading concept.

How does a trend start? How does an trend end? What tools or methods would you use for knowing the start and end of trends?

These are questions not only for swing traders but many other forex traders as well.

For many swing traders, price action leaves clues as to when a trend may be starting or ending.

Now you can see how the concept of upswings and downswings that you’ve just read above are going to make sense here when it comes to trend identification.

When using price action only to identify trend start and end, the following two are really important concepts that every forex trader should know like the 10 commandments, except you only have to remember only 2 laws:

  1. An uptrend is said to begin when the Higher High is intersected and price closes above it.
  2. A downtrend begins when the a Lower High is formed and the higher low (HL) is intersected.

This chart shows you what I mean:

Forex trading for dummies

The chart above is a text book example. (Its perfect in every way, in an ideal situation).

The reality of forex trading is more like this:

Forex trading for dummies

As you can see on the chart above, it does look kinda confusing…and to be quite honest, it would be because there are always going to be few false “trend changes” signals before the trend actually changes.

There’s no way you can solve the problem That’s just the way this forex market works.

You just have learn to take it as it comes. As I said, the real market is not a text book example.

One solution is to really spend a lot of time looking at charts and understanding how price moves and price action…it is not a complete solution but it will help you a lot, believe me.

Now that you have covered the the fundamentals of swing trading:

  • trends and trend identification
  • up swings and down swings in a trend

The next big question is how do swing traders enter a trade? You know that a swing trade can be opened and can last a minimum of 2 days to a handful of weeks, so how do swing traders actually enter a trade? What kind of trading methods do they use?

It is generally accepted that:

  • swing traders like to enter trades at really low risk, high reward entry points.

In an ideal situation, this is what I’m talking about:

  • a swing trader would enter a trade in an uptrend market just when the down swing is ending so he can profit in the uptrend move on the next upswing.

Forex trading for dummies

  • similarly, in a down trending market, the swing trader would enter a trade just when the up swing is ending so that on the next down swing, he can profit quickly as the price moves down.

The chart below shows an example of a market in an uptrend and price doing its upswings and downswings. The very point where the downswing ends is the best buying entry point for a swing trader:Forex trading for dummies

That really makes sense, doesn’t it? Yes it does!

If you wan’t to be a swing trader, I really do hope you learn price action trading. because it really complements it.

Here’s how:price action help you in finding better trade entries. Price action trading leaves you clues like bearish and bullish reversal candlesticks which can be used as your sell and buy signals.

  • in a uptrend, when you see a bullish reversal candlestick in a downswing, it can be used a buy signal. These are the type of bullish reversal candlesticks you should be looking for:
  • in a down trend, when you see a bearish reversal candlestick in an up swing, it can be used as a sell signal. These are the types of bearish reversal candlesticks you should be looking for:

Ideally, you want forex trading strategies that are ideal for swing trading. That means, these swing trading strategies must allow you to buy when a downswing is ending in an uptrend and sell when an upswing is ending in a downtrend.

Apart from the fact the many forex swing traders like to use different swing trading strategies.

Trading strategies can be based on price action trading only or a combination of indicators and price action trading or purely just indicators.

Here are some really good swing trading strategies that you can use:

Which is better? Swing Trading Or Day Trading?

Well, it really depends on you as a trader.

You got to make a choice on what you like and stick with it and make it happen for you.

I did write a post about titled Day Trading vs Swing Trading-Which Is Better? I suggest you check it out.

6 Disadvantages of Swing Trading

  1. Some new forex traders can find swing trading difficult to learn and do or it may not fit the trading personality of the trader.
  2. swing trading can take a lot of time when you are analyzing your trading setups especially if you are new new to trading forex.
  3. swing trading setups generally tend to form in larger timeframes like the 4hr, daily, weekly and you can wait a long time before the setup happens to take a trade.
  4. swing trading is not necessarily a set and forget system, you have to monitor your trades regularly to move stop loss to break even, move trailing stop etc.
  5. a swing trader can get so attached to a trade because he may be in that trade for a while and instead of exiting and taking profits, his attachment can cloud his judgment
  6. As in day trading, trading discipline and risk management as well as keeping emotions in check are very important. It is not uncommon for swing traders to exit on a retrace or trend change only to have the market immediately change back and head in the original direction and to be quite honest, this is sometimes very frustrating.

8 Advantages of Swing Trading

These are the reasons that make swing trading appealing to many forex traders:

  1. with swing trading, it is easy to manage take profits and stop loses because you can actually place your stop loss a bit further away from the market price to avoid getting stopped out prematurely and also your take profit targets a place a bit further away so that your risk to reward ratio are 1:2 or higher.
  2. swing trading is much easier to learn and do than day trading
  3. trading transaction costs due to spread are much lower than that of day trading because of less trades placed.
  4. you have a lot more time to analyse trades and then take trades and therefore swing trading can suit someone who has a day job.
  5. swing trading does not take a lot of your time…you can place your trade and walk away instead of baby sitting your trade like in day trading.
  6. Swing trading is much less stressful than day trading.
  7. Profits made a much larger than in day trading because you let your trades run of more than 1 day so the chance of increased profit much greater than in day trading.
  8. Swing trading allows swing traders to ride out the trend for maximum profit extraction using this best trailing stop technique
  9. the use of price action trading with swing trading really enhances the trade entres and exits

If you enjoyed this swing trading for dummies guide (or crash course), please don’t forget to share, tweet, like or mention it to your fans and friends. Thanks

The Complete Forex Trader

In this Forex Trading Course, I have shared my personal experience on how I developed THAT winning strategy. In this course, I will teach you How to Trade Forex with these easy to follow rules.

Какова целевая аудитория?

  • Anyone who is interested in Forex trading
  • People who want to learn how to manage their own savings
  • People who have tried to learn Forex trading, but things just don't make sense. This course puts it all together.

In part 1, we cover the introduction to Forex trading. We want you to understand what Forex trading really is, how it works, and where traders make (or lose) money. The attached .pdf file covers the same information the videos do, they are designed as a learning tool as well as a reference tool to go over things you may have forgotten.

  • A brief history of the Forex market.
  • Forex vs Stocks – the pros and cons
  • What is traded and how ?
  • Market size and liquidity
  • When are the good times to trade ?
  • Different types of Forex trading, and why we use ours
  • What to consider when choosing currency pairs
  • How is money traded in the market ?
  • How to read a Forex quote
  • Long vs Short / Bid vs Ask
  • First look at a Forex chart and how to read it
  • Lots, leverage, profits and loss
  • Types of orders

Part 1 – Download notes in PDF format

In this video, we are taking you through the basic understand of how things are actually traded in the forex market. It’s not vital to the actual forex trading strategies, but it is important for you to understand the first steps so that it makes everything else come easier.

We have a look at a few things to consider when choosing different forex pairs to trade, and give an example of how profit is made. As with all the 1xx videos, it’s important to understand it so future forex trading concepts are easier.

Forex 102 Which Pairs Are The Most Profitable.

Price action is a longer term Forex trading strategy, which means fewer trades but they are typically much much larger. This is not the type of strategy you can practice in a short period of time because it takes so long. My advice, is to use a scalping strategy first and while earning from that you can practice this Forex trading strategy on a separate demo account.

Price action is a longer term Forex trading strategy, which means fewer trades but they are typically much much larger. This is not the type of strategy you can practice in a short period of time because it takes so long. My advice, is to use a scalping strategy first and while earning from that you can practice this Forex trading strategy on a separate demo account.

Forex Trading – Price Action Part 2 – More on how to find important price levels

In this Price Action video, we start looking at diagonal lines. Remember, we use the same principles with diagonal lines as we do with the more common horizontal lines.

Price action is a longer term Forex trading strategy, which means fewer trades but they are typically much much larger. This is not the type of strategy you can practice in a short period of time because it takes so long. My advice, is to use a scalping strategy first and while earning from that you can practice this Forex trading strategy on a separate demo account.

Forex Trading – Price Action Part 3 – Finding those violent turns

In this video we have a closer look at how to enter using price action Forex trading strategy. Using both a limit and a stop entry, we maximise profit potential but still manage the exact amount of money we’re willing to risk.

Forex Trading – Price Action Part 4 – Pin Bar entries

The Non-Farm Payrol is the single largest news even in the Forex Trading calendar, and it happens every month. A lot of places try to show you how much you can make in just a few minutes, but the reality is that it is so volatile and difficult to predict that you might want to consider sitting it out. Or just use a Forex demo account!

This video is using a timelapse of a live Forex chart showing 4 currency pairs leading up to the NFP. I discuss the pitfalls and how some people trade the NFP. All the cards on the table, I do often trade the NFP myself but it is not recommended for beginners. Forex trading is risky enough, it is important to learn when not to trade.

Forex Trading and the NFP – Non Farm Payroll

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Forex trading course

Stephen Beak, Home Entrepreneur, and loving it

Learn to Trade Forex

FX Academy presents a new direction in virtual educational tutorials. The forex classes offered at FX Academy provide all that is needed for anyone to learn to trade– from basic information to advanced trading techniques. The program is geared towards both beginners and more experienced traders who want to learn Forex trading. Each course, offered on a number of levels in a vibrant and stimulating manner, comprises several interconnected lessons, each one accompanied by an animated video, recommendations for further study, trade simulators and more. In this way, students can learn to trade in an entirely individualized way.

In an effort to make our students aware of the essentials as they learn Forex, and with the aim of providing the best optimal coverage of the topic discussed, our team of experts will constantly update registered members with new material posted to existing lessons. In addition, new courses and curricula will be introduced as the program progresses. Learn to trade with FX Academy – the most innovative and successful way to learn Forex trading.

Introduction to Forex Trading

Introduction to Forex Trading

An introduction to the foreign exchange market, the world’s largest market, where approximately $2 trillion worth of currency is swapped every day. In this course you will learn why almost all individuals and businesses must participate in this market, and the reasons why people want to speculate in forex, including:

  • Availability of very high leverage.
  • The absence of any short selling restrictions.
  • Very flexible hours and lack of manipulation and slippage.
  • Forex is an attractive, alternative, and indicative asset class.

Start this Course ›

Learn forex trading

Support and Resistance Basics

Support and Resistance Basics

In Forex, support and resistance are key concepts, both referring to price zones where it is hard for the price to break through and move beyond.

In this course, in addition to giving you an introduction to Japanese candlesticks as the best method of visually displaying and interpreting forex price movements, we will explain how traders identify support and resistance zones in order to:

  • See likely “cheap” and “expensive” prices for a time period.
  • Use forex support and resistance to determine stop loss placement.
  • Determine where to go “short” or “long”.
  • Identify high reward, low risk trade opportunities.

Start this Course ›

Learn forex trading

Advanced SR & Trend Lines

Advanced SR & Trend Lines

As a good understanding of how to identify support and resistance is essential to profitable forex trading, it is important to learn advanced support and resistance concepts. In this course, we will show how to determine the quality, and not just the position, of likely support and resistance, by measuring whether there are several confluent factors acting on the support/resistance, such as the age and durability of the zone. We will also explore several advanced methods of determining which zones are likely to act as support and resistance, using:

  • High and low prices of previous days and weeks.
  • Start and stop points of previous trends.
  • Round numbers, bollinger bands and moving averages.
  • Trend lines showing mobile and advanced support and resistance.

Start this Course ›

Learn forex trading

Fibonacci Retracement Levels

Fibonacci Retracement Levels

This course will teach you about an indicator called the Fibonacci Retracement (“Fibs”). The indicator is based on mathematical proportions that occur widely in nature and in human behavior. Simply put, when the price moves in one direction, it tends to pull back – retrace – to certain levels, which are percentages of the original move. You will learn the most reliable levels in Forex Fibonacci Retracement, as well as:

  • How to draw Fibs on your chart correctly to identify likely S/R.
  • How to use multiple time frames to draw Forex Fibonacci Retracement.
  • How to use Fib levels to set trade entry/exit points.

Start this Course ›

Learn forex trading

Moving Average Crossovers & Momentum

Moving Average Crossovers & Momentum

This course will teach you how to bring together what you have already learned into the coherent methodology of Technical Analysis. Technical analysis is the term for the use of indicators derived from past price movements in forecasting future price movements.You will see how momentum indicators such as moving averages (MAs), together with identification of S/R, can provide a more accurate determination of the likely best trade entry and exit points. We will teach you how:

  • DBBs can be used as Momentum indicators in Forex technical analysis.
  • To use S/R ranges and channels as momentum indicators.
  • MA crossovers by price or by other MAs can identify trend changes.

Start this Course ›

Learn forex trading

Learn Forex Trading Course

Published: October 18, 2016

With Our Comprehensive Forex Beginner’s Course

Welcome to our forex trading course. If you feel like you’re a penguin in the desert when reading about forex trading, don’t worry, our forex course is here to guide you and help you through your journey in the kingdom of money .

Our forex education aims to introduce the trader to the basics of how to trade forex. Nobody wants to have a brutal freshman experience as he takes his baby steps to a new activity. By enlightening the new trader as to what he shouldn’t do in the markets, we aim to minimize the birth pains of his budding career. The new trader can expect to find a no-nonsense discussion of the various pitfalls and dangers associated with currency trading in these pages, but he will also find a good deal of advice on what he should do: study, be patient, be humble, and don’t gamble.

Sound interesting? Read on then, here’s our first lesson.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.

Learn forex

Learn forex

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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. Please read our legal disclaimer.Copyright © 2017 . All Rights Reserved

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Forex trading for dummies, part I

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    Currency trading for dummies

    Introduction

    In this article you will learn the Forex market’s basics – including its size, scope, structure and the route mechanics of currency trading.

    We will also identify and explain the key terms associated with Forex.

    Part II will explore the different types of market analysis and trading styles, before exploring how they can be tested on a Forex dummy account.

    Knowing why we do the things we do, helps us prioritise and provides motivation.

    So as a preface to this article, let’s start by answering why anyone would start financial trading in the first place?

    Consider this quote from the Boston Federal Reserve:

    “When you or I write a cheque, there must be sufficient funds in our accounts to cover the cheque. But when the Federal Reserve writes a cheque, there is no bank deposit on which that cheque is drawn. When the Federal Reserve writes a cheque, it is creating money.”

    More specifically, it is creating debt.

    Unlike the Federal Reserve, the European Central Bank and most other national banks can only inflate their home economies in a more modest way.

    However, because economies are wired together like networks, rather than simple circuits, the debt travels across borders and through generations.

    For many, the only way to repay it is by creating more debt, thus leading the global economy closer to the next inevitable meltdown.

    Which conveniently brings us to the next point.

    Why start financial trading at all?

    Because everything else can be classed as economic suicide.

    Very slow, yet very definite.

    Every financial institution in the world knows this.

    That is why they train professional financial traders and hire them.

    When you bring your hard-earned money to a bank, you are not actually just leaving it there for safekeeping.

    It is not the Wild West.

    You are actually lending your money and the bank can do whatever they want with it.

    What they often do is either speculate on financial markets, or loan up to 90% to others.

    As money is re-deposited and re-lent, a currency can grow exponentially.

    This is neither good, nor bad.

    This is how the contemporary global economy functions – and it has been like this for quite a while now.

    The Internet age has made financial markets widely accessible.

    And that’s a good thing, because you can now be your own bank so to speak.

    However, the next time the bubble bursts, your national bank won’t buy out your debt – just your bank’s debt.

    This pretty much covers the initial question.

    Highly volatile markets like Forex attract private investors and traders.

    These traders often have no background in financial trading and only bits of knowledge on the subject.

    As a rule, Forex newcomers have a few things in common, including that they:

    1. are eager to improve their economic situation
    2. expect to earn ever so much from investing ever so little
    3. hope, without a plan, to achieve this in a very short time
    4. approach Forex with unrealistic expectations, which helps them justify quitting at the first trading failure.

    This article was written with the aforementioned approach in mind.

    It’s set out to create general awareness regarding financial trading, with a particular focus on Forex trading.

    Most importantly, this guide is set to cool down appetites:

    to convince you that trading works best when comprised of analysis and patience.

    and works worst when hectic and hasty.

    In this manner, we hope to change the mindset of aspiring traders and prevent them from leaving empty handed before they have even truly started.

    Currency trading for dummies

    The Foreign exchange market – often called Forex or the FX market – is the most traded financial market in the world.

    It is the financial hub through which the world’s economic, investment and speculative flows move.

    However, unlike most other financial markets, Foreign exchange is the trader’s market.

    It is open around the clock, so traders can react to world events in real time.

    It is the market where million-dollar trades take split seconds to execute, tipping the balance in supply and demand only slightly.

    Average daily currency trading volumes exceed $2 trillion, which is least 10 times the volume traded at all the world’s stock markets combined.

    Above 90% of that volume comes from speculative trading, which puts Forex market liquidity far above any other market.

    Liquidity is a good thing for a trader.

    The higher the liquidity, the deeper the market.

    This means it’s easier for traders looking to buy or sell to find each other

    A market open around the clock

    Forex is a decentralised marketplace.

    It is not bound to one physical location that is open during business hours.

    Rather, it exists as an electronic trading network, available 24 hours a day, five days a week.

    A Forex trading day consists of three overlapping trading sessions that last roughly eight hours each:

    1. Asian-Pacific – 00:00 to 08:00 GMT
    2. London or European – 08:00 to 16:00 GMT
    3. North American – 16:00 to 24:00 GMT.

    This way, Forex is traded around world and around the clock from early Monday morning to late Friday night.

    Trading sessions vary in total trading volumes, as well as relative trading volumes per instrument.

    For example, the London/European session accounts for approximately 50% of total daily Forex trading volume.

    This is followed by North American and Asian-Pacific trading sessions, which share the remaining volume more or less equally.

    The most actively traded currencies per session are usually the ones native to the region.

    Thus, during the Asia-Pacific session, the most traded pairs are:

    1. USD/JPY (18% total daily volume in 2013)
    2. USD/AUD (7%)
    3. EUR/JPY (3%).

    This is also due to market news being released at these hours by local financial institutions.

    Market interest and liquidity peak during the London/European session, with European currencies trading against the US dollar including:

    The North American trading session overlaps with the European and Asian-Pacific sessions – adding USD/CAD (3%) to its trading menu.

    By the way, the US dollar is the most traded world currency – taking 87% of all Forex trades.

    What else is there to trade on the financial markets?

    Currency exchange, as you probably know, is not the only financial market in the world.

    Other examples are the precious metals market (i.e. gold, silver, platinum), energy futures (crude oil, natural gas), stocks, indices, the grain market, bonds and other instruments.

    Markets vary in almost every feature imaginable, but the underlying principle of supply and demand forming price remains the same.

    Despite the variety of financial instruments available to Forex traders (depending on their broker’s offering), this guide will concentrate on currencies.

    As a side note, a certain amount of speculation exists regarding the interrelationship of markets.

    Markets do not exist in a vacuum, so from time to time their movements coincide.

    However, correlation does not always equal causation.

    The mechanics of trading currency for dummies

    In the Forex market, financial instruments are presented in the form of currency pairs. since currencies are valued against one another.

    Every exchange operation involves both buying and selling.

    For example, placing a buying order (known as going long) on the EUR/USD pair would involve buying euros in exchange for US dollars at the order’s opening.

    Traders would then wait for the euro currency to appreciate against the dollar, before selling it back and yielding more dollars than there were before the transaction took place.

    This is called the round trip and constitutes a single complete trade.

    A sell order (or going short) on the EUR/USD pair would require the reverse sequence, since the trader expects the euro (the base currency) to depreciate against the dollar (the counter currency).

    There are three things to note here.

    First, this mechanism applies to all currency pairs.

    Second, traders can sell currencies they do not actually own.

    Third, both buying and selling takes place in every transaction.

    Any two currencies can be combined to make a Forex pair, but not all make much sense to actually trade.

    What attracts Forex traders is liquidity and volatility.

    With this in mind, all currency pairs are divided into four groups – majors, minors, cross pairs and exotic pairs.

    Majors and minors all include the US dollar on the one side:

    1. majors are EUR/USD, USD/JPY, GBP/USD and USD/CHF
    2. minors are USD/CAD, AUD/USD and NZD/USD.

    Combinations of currencies from these pairs that do not involve the US dollar are called cross pairs.

    They are EUR/JPY, GBP/CHF, AUD/CAD and so on.

    All the other pairs – the so called exotic pairs – account for less than 10% of total daily volume.

    They are less liquid, but they can be as volatile.

    Profit and loss

    Profit and loss (P&L) is how traders measure success and failure.

    However, unlike the previous material in this article, P&L calculations might not be easy for a dummy in Forex to understand.

    Having a clear understanding of P&L is important.

    Especially when you consider that changes in your P&L will directly affect the balance on your margin trading account.

    It is true that modern trading platforms calculate P&L automatically, so why bother?

    Because platforms only do it after you have opened an order, which is already too late for calculating risk.

    It is all about leverage and margin.

    Financial leverage is a feature offered by Forex brokers to help traders control larger amounts of assets, despite having relatively small accounts.

    Let’s say you have an account with a leverage ratio of 100:1.

    This means that $1 of margin in your account can control a $100 position size.

    Margin is the amount of money that participates in a trade.

    Let’s say EUR/USD is at 1.1234/1.1240.

    This means you can buy one euro at the ask price of 1.1240 US dollars, because that is how much is being asked for it.

    Alternatively, you can sell one euro at the bid price of 1.1234 US dollars, because that is how much is being bid for it.

    Imagine you want to go long and buy 100,000 Euros.

    Using the currency pair quote from above, you would need 112,400 US dollars to do that.

    But since you have 100:1 leverage, the required margin to make such a transaction is only 1,124 US dollars.

    The remaining sum is provided by your broker.

    However, you must have the required margin on your trading account (meaning your margin level is above 100%) to keep these positions open.

    As soon as your margin starts falling below 100% (and fall it might as the floating P&L from active trades affects your balance directly), your broker may close your order automatically.

    This is called a margin call and it is performed when a debtor (traders) can no longer meet their obligations to their creditor (the broker) for the leverage provided.

    This is the dual nature of financial leverage – potentially profitable and as potentially devastating.

    Margin calls can come at 100%, 50% or 30% margin levels, depending on the broker.

    For these reason, a trader must not only evaluate his margin requirements prior to entering trades, but also be aware of the broker’s conditions on margin calls.

    P&L is calculated in pips, sometimes called points or ticks.

    A pip is the fifth digit in a currency price quote.

    For example, when the EUR/USD ask price changes from 1.1240 to 1.1245, it has moved five pips up.

    When the USD/JPY bid price changes from 112.45 to 112.37, it has moved eight pips down.

    Pip value is a fixed amount and is measured in the currency of your account.

    For example, assuming your account balance is in US dollars – buying one lot of EUR/USD will yield one pip of $10.

    But if your account is in Euros, one pip will equal around eight euros.

    You may find it convenient to use a trader’s calculator, many of which are available online

    Knowing how many pips in a P&L drawdown that your account can bare before it’s on a margin call – is as important as knowing how much margin is required to open a trade in the first place.

    Currency trading for dummies

    Swaps and interest rates

    A swap – sometimes called a ‘rollover’ – is a unique type of a transaction that occurs every time an order stays open from one date to another.

    Swaps are almost unique to Forex market and they exist because of interest rates.

    Interest rates are the biggest drivers of money supply.

    This is important to realise for dummies when trading Forex, as interest rates are the primary tool that central banks use to control inflation.

    When interest rates are increased, it becomes more expensive for banks to borrow currency from the central bank.

    This causes a shortage in currency supply and pushes the currency price up.

    Ergo, inflation decreases.

    when interest rates are cut, money is borrowed at a lower cost and in higher volumes.

    which stimulates inflation.

    Either can be useful at times, which is why national banks periodically raise and lower interest rates.

    What does this have to do with a trader?

    Well, in effect you are your own bank now remember?

    Interest rates apply to you as well.

    For example, when trading a pair in which the base currency has a higher interest rate than the counter currency (like NZD/JPY at 3.6% to 0.1% respectively) – it’s cheaper to buy and hold NZD than JPY.

    The difference between interest rates within one Forex pair is called the interest differential.

    In cases where the interest differential is a positive number (as it is with NZD/JPY at 3.5%), you will earn interest simply for being in a long trade.

    Similarly, for being in a short trade, you will be due to pay interest.

    The information on swap rates is always available in a currency pair’s description – either directly on your trading terminal, or on your broker’s page.

    At 00.00 GMT, your broker will credit or debit your account based on active trades, along with the volumes of those trades.

    To be continued

    This rounds up part I.

    Part II will expand on how to trade Forex for dummies through exploring different types of market analysis. along with trading styles that can be tested on Forex dummy accounts.

    This is also where you will find calculations and answers for the self-test assignment.

    Please enable JavaScript to view the comments powered by Disqus.

    Risk warning:Trading foreign exchange or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. You should ensure you understand all of the risks. Before using Admiral Markets UK Ltd services please acknowledge the risks associated with trading.

    The content of this Website must not be construed as personal advice. Admiral Markets UK Ltd recommends you seek advice from an independent financial advisor.

    Admiral Markets UK Ltd is fully owned by Admiral Markets Group AS. Admiral Markets Group AS is a holding company and its assets are a controlling equity interest in Admiral Markets AS and its subsidiaries, Admiral Markets UK Ltd and Admiral Markets Pty.

    All references on this site to ‘Admiral Markets’ refer to Admiral Markets UK Ltd and subsidiaries of Admiral Markets Group AS.

    Admiral Markets (UK) Ltd. is authorised and regulated by the Financial Conduct Authority. (FCA Register No. 595450).

    Admiral Markets (UK) Ltd. is registered in England and Wales under Companies’ House. Registered Number 08171762. Company address: 16 St. Clare Street, London EC3N 1LQ, UK.

  • Forex Trading Reviews

    Account and Portfolio

    Account and Portfolio Information refers to the data and display options associated with the financial account and transaction information of a forex account. All of the best forex brokers will update account information in real time, display account balances, and provide history reports and statements. While Account and Portfolio Information is relatively important, it’s safe to assume that most forex brokers offer the most important features. An investor who requires specific portfolio reporting features may want to take a harder look at the features in this category.

    Most important account and portfolio features
    • Account History Reports – You can create reports or view statements of your portfolio or account information.
    • Download Statements – You can download your account statements.
    • Export Data – You can export your portfolio or account data.
    • Gain/Loss – You can run gain and loss reports for tax planning.
    • Order Status and Balance – You can quickly view your current trading positions, open orders, and account balance.
    • Real-Time Updates – Your account balances update in real time.

    Cross Currency Pairs

    Cross Currency Pairs includes secondary currencies traded against each other and not against the U.S. dollar. Examples include EUR/JPY, EUR/GBP, and CAD/JPY. This category represents another set of highly traded currency pairs that most reputable brokers offer. The Cross Currency Pairs category is especially important for a forex trading account denominated in a currency other than the U.S. dollar, or for more advanced traders exploiting discrepancies between other economies.

    Most important cross currency pair features
    • AUD/JPY – The broker offers trading in the Australian Dollar vs. Japanese Yen currency pair.
    • CAD/JPY – The broker offers trading in the Canadian Dollar vs. Japanese Yen currency pair.
    • CHF/JPY – The broker offers trading in the Swiss Franc vs. Japanese Yen currency pair.
    • EUR/AUD – The broker offers trading in the Euro vs. Australian Dollar currency pair.
    • EUR/CHF – The broker offers trading in the Euro vs. Swiss Franc currency pair.
    • EUR/GBP – The broker offers trading in the Euro vs. British Pound currency pair.
    • EUR/JPY – The broker offers trading in the Euro vs. Japanese Yen currency pair.
    • GBP/CHF – The broker offers trading in the British Pound vs. Swiss Franc currency pair.

    Major Currency Pairs

    Major Currency Pairs are the most important, most traded worldwide currency pairs available through a forex broker. These pairs consist of currencies from the world’s most developed economies including Europe, Japan, Canada, and Australia. A major currency pair is created when one of these currencies is traded against the U.S. dollar. Examples include EUR/USD and USD/CAD. Major Currency Pairs is an important category because these pairs represent the most heavily traded and liquid currency markets in forex trading.

    Most important major currency pair features
    • AUD/USD – The broker offers trading in the Australian Dollar vs. the US Dollar currency pair.
    • EUR/USD – The broker offers trading in the Euro vs. US Dollar currency pair.
    • GBP/USD – The broker offers trading in the British Pound vs. US Dollar currency pair.
    • NZD/USD – The broker offers trading in the New Zealand Dollar vs. the US Dollar currency pair.
    • USD/CAD – The broker offers trading in the US Dollar vs. Canadian Dollar currency pair.
    • USD/CHF – The broker offers trading in the US Dollar vs. Swiss Franc currency pair.
    • USD/JPY – The broker offers trading in the US Dollar vs. Japanese Yen currency pair.

    Trading Technology

    Trading Technology encompasses all technology that enables the execution of a trade as well as tools to simplify trading or execute advanced strategies. The Trading Technology category includes a spectrum of features, from alerts and real-time quotes to the more advanced features such as automated trading and conditional orders. Trading Technology is one of the most important categories when considering a forex broker because the ability to execute a chosen strategy is highly important when forex trading.

    Most important trading technology features
    • Alerts – You can set up personalized alerts for your portfolio.
    • Automated Trading – You can place trades by setting automated triggers.
    • Conditional Orders – You can place orders that, when executed, immediately triggers or cancels another order.
    • Customizable Interface – Layout and features of the trading platform can be customized and changed.
    • In Chart Trading – You can use the charting tools to actually place trades.
    • Real-time Charts – Real-time updating charting tools are available through the broker.
    • Real-time Quotes – Up-to-date price quotes are available in real time.

    Customer Service and Support

    Customer Service and Support is the availability of the forex broker’s support channels. The forex brokers with the best support are available during all trading hours through multiple channels including live chat, email, and phone. Some of the top forex brokers also have retail locations where you can speak to someone in person. Support especially matters for online forex trading because forex markets trade around the clock, necessitating access to support at all hours.

    Most important customer service and support features
    • Email – You may access customer support by email.
    • Live Chat – You may access customer support by live chat.
    • Phone – You may access customer support by phone.
    • Trading Hours Support – You may access customer support during the majority of trading hours.

    Mobile Trading

    Mobile Trading is the ability to access a trading account using a mobile device. Mobile Trading encompasses the availability of dedicated apps for a variety of devices, the functionality of the features within the mobile app, and how users have rated the application. Mobile trading continues to grow in importance as the quality of applications improves to meet the demand for high-performance, on-the-go trading tools.

    Most important mobile trading features
    • Android – The broker provides an app for Android devices.
    • BlackBerry – The broker provides an app for BlackBerry devices.
    • Create Alerts – You can create alerts with one or more of the mobile trading applications.
    • Favorable App Store Reviews – Three or more stars have been awarded to the broker’s iPhone app from users in the Apple App Store or Google Play.
    • iPad – The broker provides an app for the iPad.
    • iPhone – The broker provides an app for the iPhone.
    • Mobile Research – Research features are available using one of the mobile applications.
    • Mobile Website – The broker offers a separate mobile website for accessing your account from a mobile web browser.
    • Place Trades – You can place trades using your mobile device.
    • Portfolio Tracking – You can track your portfolio using a mobile device.
    • Streaming Quotes – Streaming quotes on mobile devices are available.

    Research is the resources that a forex broker provides to their clients to help them make decisions and understand market activity. The research provided by the best forex brokers include advanced charting capabilities, third-party research, research reports, and market commentary. Forex trading can be highly computer driven, and some forex brokers offer traders access to historical data so they can back-test strategies before allocating real money. Research is an important category for traders who are looking for assistance in making decisions as well as independent traders who are seeking confirmation on a trade or a second opinion. Some of the more self-directed brokers offer less research amenities because they cater to more advanced traders who pay for third-party research.

    Most important research features
    • Charts – You have access to charts so you can conduct research on investment products.
    • Historical Data – The broker gives you acess to historical exchange rate data.
    • Market Commentary – You have access to market commentary from outside experts.
    • News – You have access to daily market news and updates from third party services.
    • Research Reports – The broker provides you with various research reports.

    Trading Platforms

    Trading Platforms covers the different software platforms available for forex trading provided by the broker. Trading Platforms can differ based on a trader’s needs and are often categorized as a standard or professional platform. Additional platforms include mobile platforms to execute trades on the go and virtual platforms to test strategies without risking money. Trading Platforms is an important category if a trader is looking for a forex broker that can meet the trader’s needs as they change.

    Most important trading platform features
    • Mobile – The broker offers a platform to execute trades on a mobile device.
    • Professional – The broker offers multiple platform levels including a professional platform.
    • Standard – The broker offers multiple platform levels including a standard platform.
    • Virtual Trading – The broker offers a virtual account for customers to practice trading without risking any actual money.

    Introductory Offers

    Forex brokers often offer promotions to attract a prospective customer. Examples of incentives include introductory offers for opening an account and customer referral programs. Others offer free trading demos so traders can practice forex trading before committing to the broker. Incentives aren’t considered very important because they’re generally not related to the actual services of the broker, but it can be nice for some customers to be aware of the potential bonuses as they make a decision between two forex brokers.

    Most important introductory offer features
    • Free Demo – You can access a free trading demo so you can try one of the trading platforms.
    • Referral Program – You can be rewarded for referring a friend to the broker.
    • Special Offer – Special offers for new traders who open an account are available.

    Other Investment Products

    Other Investment Products consists of other investment products a forex broker makes available for someone to trade. Other Investment Products include stocks, futures, options, and CFDs. This is a less important category because most forex traders are highly specialized, but it can be a more important category for professional traders with expertise across multiple products.

    Most common investment products
    • CFDs – The broker provides other instruments settled as Contract for Difference
    • Futures – The broker provides trading of some futures products.
    • Options – The broker provides trading of some options products.
    • Stocks – The broker provides trading of some stocks.

    Trading Education

    Education is all of the resources an online forex broker provides to help their clients learn about forex trading and navigating the platform. A forex broker that excels in the Training Education category regularly offers webinars and videos so traders can advance quickly, learn new concepts in forex trading, and easily get accustomed to the broker’s platform. Additionally, the best forex brokers provide a superb trading community to facilitate the exchange of trading ideas. Education is less important to an advanced investor, but a beginner benefits greatly from the courses and webinars offered by most forex brokers.

    Most important trading education features
    • Courses – You can access educational trading or investment courses from the broker.
    • Glossary – A glossary of important investment terms is provided by the broker.
    • Live Seminars – You can attend live in-person seminars around the country from the broker.
    • Trader Community – You have access to an online community to have discussions and share advice with other traders.
    • Videos – You can view training videos on the broker’s platform.
    • Webinars – Webinars are available to help you learn about investment products.

    All

    Forex training

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    Asia Forex MentorAsia’s Largest Education Company* based on traffic numbers for year 2015, 2016 and most importantly..

    Majority of our students know us through referral via word of mouth. Our students recommend their family members, friends, colleagues over to us for 1 reason. They make money with what we teach. No fluff, no bullshit, actual professional trading – the lifestyle method.

    “People come and refer others to AsiaForexMentor because what I teach works. I’ve produced tons of successful students who have gone on to quit their job and become full time traders & fund managers. The list of testimonials which I’ve collected among the years from my students and mentees are in piles…”

    “I’ve been a full-time forex trader since 2000 and a forex trading mentor for over a decade. Asiaforexmentor was founded in 2006. Way before the whole load of crappy forex courses and robots (EAs) came to the market. We are the authority in the forex industry and are invited to speak at various events all over the world.”

    “Over the years, I’ve tune my trading to be from a trader who is bounded to the screen for 12 hours a day to being a “lifestyle trader” who trades only when there’s a setup that meets our plan and analysis (1-2 hours a day). Meaning that I revolve forex around my life and not my life around forex.” – Ezekiel Chew, Founder and CEO of Asiaforexmentor

    Forex trading course

    Now, Read This Next Part Very Carefully

    The system these students are talking about isn’t one of those Forex Robots you’ve probably seen online. You and I both know that if those really worked, everyone on earth would be buying one.

    My students are taught the exact same system I’ve been using for over a decade to make a full time living as a forex trader. Some of them work day jobs and trade only a few minutes a day, others have become full time forex traders like myself.

    If you’re reasonably smart and the least bit patient, I’ll show you how to do the same thing. It’s not hard, but you DO need to know what you’re getting into. So let’s start by answering the common questions my new students have had about this forex training…

    Where Can I See a Sample of What Your Students Are Learning?

    To see a sample of what I’m teaching my students in our popular AFM Forex trading Course | special mentorship program, you can sign up for my Famous FREE forex trading strategies. It’s like a mini forex university – containing different levels from Beginner to Expert. After clearing the levels, the knowledge you’ve gain are beyond 90% of the forex traders. Fill in this form and I’ll send you full access today FREE

    Get Access to Asia Forex Mentor Forex Trading University – 100% Free

    *If you change your mind after signing up, you can cancel your subscription right from your email inbox in just 3 seconds

    Forex Trading Blog see all

    Join the many followers of my forex blog. This is where I share my years of forex trading experience

    Forex trading course

    I feel really bad to see the stock market crashing and many people getting burnt with the massive selloff in the market. Here’s the s&p chart where we can see the massive selloff. Right now, the s&p is being supported by my blue dotted line and my orange line which are my Bollinger bands […]

    Posted On: 25th August 2015

    Forex trading course

    How to Make Money in Forex When we trade forex, I believe we all want to achieve one thing: That is to make money in forex. It’s pretty obvious isn’t it. However, the fact is, most of the traders aren’t successful in live but they make good money in demo. Why? The answer to this […]

    Posted On: 24th October 2014

    Forex trading course

    2 Main Types of Forex trading methods In this forex trading article, I’m going to talk about 2 main types of forex trading methodology. Yes, I do know that there are thousands and if not millions of forex trading strategies out there. And these forex trading strategies are also categorized into these 2 main types […]

    Posted On: 14th October 2014

    Forex trading course

    Forex Traders are the Coolest People You heard that right! We are the COOLEST people around. You can’t be not cool if you are a forex trader. LOL> What i meant was to have a cool head in trading. Alot of times in trading, we will meet with setbacks. And the setbacks almost always occur […]

    Posted On: 19th September 2014

    Is This Forex Trading Course | Special Mentorship program Only for Beginners?

    No. I have students who are just getting started and I have students who have spent over fifty thousand dollar on Forex training and been actively trading for years.

    But the more important question is: How consistent is YOUR ROI and your income? What’s your average ROI? Could you quit your job tomorrow and still pay your bills using forex trading alone and still have enough money to keep trading?

    If not, what could it hurt to investigate a system that will help you do all of the above? Whether you’re advanced or just getting started, what really matters is results. So if you’re not consistently getting the results you want, you owe it to yourself to join those who are getting those results.

    Isn’t Forex Trading Risky?

    Any kind of investing is risky if you don’t have the right knowledge, the right tools, a good mentor and if you don’t manage your own internal sense of urgency. I know people who have lost money trading stocks, bonds, options, currency and even investing in real estate and mutual funds, all of which are supposed to be safe.

    Some peoples’ money isn’t even safe sitting in their savings account because they have no plan for managing it. All this happens because of the person’s lack of knowledge, planning and, most of all, lack of self-control.

    The good news is, while only 4% of forex traders are profitable, those 4% are consistently profitable. My friend, NO ONE is that lucky. They know something the other 96% doesn’t know, they have a dependable system which they follow and they don’t let their emotions get in the way.

    I’m convinced that anyone can make forex trading safe and profitable. I know this because I’ve been one of those 4% for over a decade, and if you’re reasonably smart and have a little bit of patience, you will be too.

    What Will I Learn with Your Forex Trading Course | Special Mentorship Program?

    This is a summary of what you’ll learn using AFM Price Action forex trading system (Do Note that this is just a preliminary portion of the 3 Months Mentorship Program – In our mentoring process we go way deeper, way advance and fully customized to every individual):

    Money Management Skills: How to manage your funds so you always have enough money to trade with.
    Risk Calculation: How to calculate and manage the maximum risk involved in every trade.
    Trading Psychology: How to take the emotions of fear and greed out of trading and time your trades for ultimate profitability. (This is probably the most important, and most neglected trading principle)
    Stop loss strategies: How to put a lid on your risk if a trade goes ill.
    Entry Strategies: The best way to enter any trading position. Dozens of strategies are covered so that you can choose the one best suited for your trading style.
    Profit Taking Strategies: Strategies for creating consistent and predictable profits and income.
    In depth Price Actions Skills: This is the most powerful, yet least understood trading principle. Most people think they’re doing price action analysis when they’re really just guessing. I’m convinced that this is one of the biggest differences between the 96% and the 4% and I’ll show you how to get on the ride side of that statistic.

    THIS IS IMPORTANT: Ezekiel is now only doing one on one mentoring with a Select Few Each Month.

    Ezekiel is no longer doing mass teaching. And only looking to work with one on one mentees that meets his stringent criteria. He now dedicates his time with his family and therefore can only spare a portion of his time with a select number of mentees.

    Through his 11 years of coaching, he have revolved his coaching methods to more than just a mere 2 days program – This is how traders blow thousands on forex trading training which never gets applied or which they didn’t even have the chance to fully absorb.

    It’s now a comprehensive FULL 3 months mentoring program with specific tasks and homework to do. With this revolutionary program, superstars are being made.

    Why Do So Many Forex Traders Lose Money?

    Yes, the bitter reality is that only 4% of Forex Traders make any money at all. Even hedge fund owners and bankers lose money once they try to trade on their own. This happens because they’re used to trading according to a set of rules that their employers requires them to trade by.

    But when they leave their employer, those rules go out the window and they have to manage their own internal motivations. This is how greed and fear can get the best of even the most knowledgeable traders. Shockingly, a lot of these traders end up having to “fall back” on teaching what they know and YOU end up paying them thousands for a training seminar.

    This is one reason I’m thankful for being self-taught. I was forced to discipline myself, and I help my students do the same thing. My system takes the emotion out of trading and helps you become one of the 4% by teaching you more than just strategies.

    Can I Get Rich with Forex Trading?

    I’m sure it’s possible, but in my opinion this is the wrong mindset to approach forex trading, especially in the beginning. I’ve made a lot of money over the past 17 years, but I didn’t start out that way. I spent a lot of time studying first and honestly, I let a lot of good opportunities slip by during that time because I knew I needed more knowledge before making live trades.

    Now that I’ve been coaching forex trading for a full 11 years now (past the decade mark), I’ve found that EVERY person who gets into this with big dollar signs in their eyes loses money. Not most of them, ALL of them.

    A good forex trader isn’t driven by the need to get rich, they’re driven by a strategic way of thinking and making decisions. This is why my system teaches you to trade without being driven by urgency or by the need to make a ton of money overnight.

    Is Your Forex Trading Course Singapore | Special Mentorship program Only for Students in Singapore?

    No, this system is being used by students all over the world:
    United Kingdom
    United States
    Singapore
    Australia
    Brazil
    Canada
    New Zealand
    Japan, Korea
    Dubai
    Asia – Indonesia, Brunei, Vietnam, Thailand, Malaysia, Philippines
    Forex trading course

    I Have a Day Job, Will I Still Have Time to Trade and Learn this System?

    Yes, as long as you’re willing to invest just one or two hours a week minimum, you’ll be fine. With my forex lifestyle trading methodology, trading doesn’t take a whole load of time and not looking at your screen for the whole 8 to 12 hours a day which is extremely bad for health in my opinion.

    Traders who spend too much time analyzing and studying at their keyboards usually end up making decisions too late or too early and missing opportunities or losing money.
    CLICK HERE TO LEARN MORE

    Some of Asiaforexmentor’s Student Reviews and Results

    In Your Experience Ezekiel, What are the Biggest Mistakes Forex Traders Make?

    Inconsistency: many forex traders make huge amounts of money in just a few days, only to lose it all. This is why it’s smart to focus on consistent income instead of getting rich. If you do this well and manage what you do make, you’ll be better positioned to start creating wealth from what you’ve earned.

    Wrong Forex Trading Strategy or System: most traders spend thousands on forex trading seminars where they learn only a fraction of what’s being taught and have no guidance for applying what they’ve learned. Other’s waste money on junk “Robots” and other forex scams.

    Using Forex indicators that have lags in data analysis: even the best analysis tools have delays. This is why I teach price action. it helps you predict the movement of a position before the move comes. This is the second most significant difference between the 96% and the 4% (the first is the ability to manage your internal urgency and make smart trading decisions).

    Watching their screen too much: over analysis leads to procrastination and failure to act on opportunities due to fear or information overload. This is why I discourage spending too much time at your computer analyzing trades and trading positions.

    Their Experience Works Against Them: traders who have experience working for large companies believe they can do just as well for themselves, but underestimate their ability to self-manage their trading decisions. When they leave their employer, they have no one to hold them accountable and they start making impulsive decisions based on fear or urgency instead of knowledge and strategy.

    Put an end to your quest of hunting for forex courses or coaches, there will be a new one popping out every other week. If you are looking for the “Guru’s guru” “The Best in the Industry” “One of the World’s Best Forex Trader” – as testified by my students. Apply to work with me. But do note that based on records, I only accept 1-2 out of 2000 who apply.

    Welcome to the Forex Masters Website

    and to one of the

    most exciting opportunities

    for entrepreneurs in the world :

    FOREX TRADING!

    Introduction to

    Forex Trading

    Foreign Exchange is the simultaneous buying of one currency and selling of another. In other words, the currency of one country is exchanged for that of another.

    The currencies of the world are on a floating exchange rate, and are always traded in pairs – Euro/Dollar, Dollar/Yen, etc. In excess of 85 percent of all daily transactions involve the trading of the major currencies – U.S. Dollar, British Pound, Euro, Swiss Franc, Japanese Yen, Canadian Dollar and Australian Dollar.

    The Foreign Exchange market (FOREX) is the largest and most liquid financial market in the world with a daily turnover of well over $5 trillion, more than three times the aggregate amount of the United States Equity and Treasury markets combined.

    has been awarded

    Forex trading training

    Best Forex Training R&D Company

    South Africa for 2016

    Corporate Vision Magazine, UK

    the Bank of International Settlements (BIS).

    the Forex currency market trades roughly

    $5 trillion per day.

    making it the largest and most liquid market

    Bank of International Settlements

    By comparison, the currency futures market is only one percent the size of the Foreign Exchange Market.

    Forex trading training

    Unlike other financial markets like the futures and stock markets, the Forex market has no physical location and no central exchange.

    It operates through an electronic network of banks, corporations and individuals (referred to as Interbank) trading one currency for another.

    This lack of a physical exchange enables the Forex market to operate on a 24-hour basis, moving from one time zone to the next, across each of the world’s major financial centers every day.

    Trading moves from major banking centers of the U.S. to Australia and New Zealand, to the Far East, to Europe and finally back to the U.S.

    In the past, the Forex Interbank Market was not available to small speculators due to the large minimum transaction sizes and often-stringent financial requirements. Banks, major currency dealers and the occasional huge speculator used to be the principal dealers. Only they were able to take advantage of the currency market's fantastic liquidity and strong trending nature of many of the world's primary currency exchange rates.

    Today, foreign exchange market maker brokers are able to break down the larger sized interbank units, and offer small traders the opportunity to buy or sell any number of these smaller units (lots). These brokers give virtually any size trader, including individual speculators or smaller companies, the option to trade the same rates and price movements as the large players who once dominated the market. Market makers quote buying and selling rates for currencies, and they profit on the difference between their buying and selling rates.

    Because of its high liquidity and volatility,

    the Forex Market offers traders numerous advantages over other markets.

    See risk disclaimer below.

    Because of its sheer size, liquidity, and speed.

    even tiny fluctuations in the currency markets

    can result in staggering profits.

    See risk disclaimer below.

    Let me repeat that, because it is very important:

    The FOREX market is so big — and so liquid —

    even tiny, almost imperceptible moves can result

    in million-dollar profits, literally overnight.

    Here’s an example of what I’m talking about:

    Back in 1991, George Soros made $1 billion in ONE DAY trading the British pound!

    Now, that sounds incredible, doesn’t it? An amazing amount of money to make in a single day.

    But here’s the thing: 1 billion dollars is a mere .03% of the DAILY FOREX VOLUME.

    That’s LESS THANone-tenth of one percent . It’s nothing. a drop in the bucket!

    Yet most people assume for Soros to make his billion-dollar fortune, the market had to move in big leaps and bounds. But it didn’t. His fortune was created on a tiny move!

    Compare that kind of movement with the stocks you own. Would a .03% uptick in the price of your shares make you a millionaire?

    Ignoring the currency market means letting money sit on the table. It’s a big mistake. The truth is, the FOREX market is so vast that it’s easy for staggering sums of money to get lost in the cracks. only to be picked up by savvy individuals who understand how the game is played.

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