Forex Trading Basics
Welcome to the first segment of our free forex trading course.
Over the next few pages and quizzes you will learn the absolute basics of the forex markets to be able to start:
- understanding the language used by traders
- to understand exactly how the market moves and its structure
- how it is quoted
- what some of the terminologies mean
- expand your understanding of the currency pairs and timeframes.
Why You Must Learn The Forex Trading Basics
The most common problem we’ve seen after conducting research over the past two years on education is that the forex trading basics are completely overlooked.
There is a high chance that you have already gone through a forex trading course, whether it’s free or paid for, and still don’t grasp some of the most basic of concepts.
This is by no means an insult to you, it is evidence of poor information translating to knowledge for you to understand properly.
The best teachers are the ones that have experience and explain everything in a certain way that is transferrable to the student.
Like we mentioned before, trading is a LOST ART and has been translated to something that even the fundamentals are wrong.
You will get the concept as you progress through the course.
So as good as you may understand the markets, it may be a good idea – whether this is the first time you’ve read about forex trading or the 10,000,000th time – to glance over the forex trading basics at least once over.
With the forex trading basics learnt and understood, then you will progress faster and learn quicker.
At the end of the day, we want to filter out the misguided information that demonstrates how not to trade Forex.
Our only goal and obligation are to you, the reader – the student – to better yourself and learn how to trade to build up your savings.
You are here because, either:
You want to trade your own finances for better returns;
You don’t want to pay over the odds in commissions and fees for financial advice, which in turn either perform or underperform the S&P500;
You want to take your money and build it to something bigger to be able to trade from home.
Either way, you are here today to learn how to trade the forex markets as accurately as possible – and you are in good hands!
Over the next few pages, we will help you understand what specific parts are and how to set up a demo account.
We will also go through what the market structure is, and how undersold this part of the market is when it comes to education.
By the end of this segment, you will have been given the knowledge to confidently place trades and read the charts at a basic level (basic for this course).
This will lay the foundation to our more in-depth topics and make understanding the market structure, entry levels and strategies SO much easier and fluid.
So grab your notepad /or open up Word to take down notes (do not copy and paste it). You must translate the information on this course to your own words and scribe them down.
We say this because it is vital to the information sticking with you – we all speak different languages (not like English and French) but in terms of how we perceive things and by our senses.
Some speak in the language of sound so will record and understand notes better when they use the words – it sounds like when…
Some speak in the language of sight so will understand notes better when they use words such as “look out for a diamond” etc.
Let’s get this show on the road!