Short for Foreign Exchange which is exchanging one currency for another. Forex trading is the purchase of one currency and selling of another simultaneously for profit
BeginnerEarly Stages For Beginners8 Topics
Forex Terminology11 Topics
- Major and Minor Currency Pairs
- Basic Forex Terminology
- Pips & Ticks
- The Broker & The Spread
- What is a Lot?
- Stop Loss & Take Profit
- Margin & Leverage
- Retracement & Reversal
- When Can I Trade Forex? Sessions - Market Open and Close
- 3 Types of Analysis (Technical, Fundamental, Sentiment)
- 3 Ways a Market Can Go (Up, Down, Sideways)
Margin & Leverage2 Topics
IntermediateIdentifying Scams2 Topics
Brokers for Beginners5 Topics
Technical Analysis13 Topics
- Types of Charts
- Understanding Japanese Candlesticks
- Candlestick Patterns For Beginners
- Single, Double & Triple Candlestick Patterns
- Support and Resistance
- Confluences w/ Candlesticks & Support & Resistance
- Counter Trend Trading/ Counter Trend Lines
- Moving Average
- Top-Down Analysis
- Consolidation Trading (Breakout, Retest, Continuation)
AdvancedUsing Indicators6 Topics
Technical Analysis (Part 2)8 Topics
Market Structure5 Topics
Fundamental Analysis9 Topics
CompletionRisk Management for Beginners8 Topics
Psychology for Beginners7 Topics
Personal Psychology Questions2 Topics
Why Should I Trade Forex?
Yerrrrrrp! We’ve come to the end of the section and I’m pretty sure you learned so much! You’ve learned what Forex is, how you actually trade Forex, who trades Forex, the difference between Forex and other financial markets, and the convenience trading Forex can potentially provide you.
The convenience of the markets being open 24 hours a day with preventative safety measures that can help your account such as a stop loss and a take profit, and the ability to buy AND sell anything you say as opposed to being limited to just buying something, it’s no wonder why a lot of people are trying to learn how to trade.
Now that we’ve gone through all of the beginner background material on understanding what Forex is, it’s time to actually start learning the ins and outs of the currency market. Brace yourself, it’s a lot… but it is fun! See you in the next section!