Forex trading for beginners

Learn Forex and make a living with it. If you want to take part in the 5.3 trillion dollar market take a beginner’s course. When you master the basics you can follow more courses for more progressed students. Never play the game without the skills that you master by taking courses. Buying and selling on Forex without knowledge about the market is the main cause of all failings. So be well prepared before you enter the game.

Main focus of Forex

Whenever you’re trading Forex it is about keeping your risks small and letting your profits run. Your main focus should be on how much can you lose on a given trade. If you are very good at trading then you can get in contact with us. We work with the best traders from all over the world. Let’s look at this account: It went from one million dollars to a little bit over five million dollars over three years period. The minimum amount to open an account is thousand dollars but it’s best to invest at least $10000. You can expect to get anywhere from a 2 to 10 percent return on your investment per month. So you can’t select much of your money you’re willing to risk on stuff like that. You can see that we’re averaging rights around our own 5 percent return per month on this account.

How to use the MT4 platform?

Choosing the right broker

We only work with ECN brokers as FXCHOICE. The latter accepts US customers which is rather unusual. Further, it is a great broker with good services. Log in to the back office to open a demo or a live account. With FXCHOICE you can earn up to $ 250 per friend by referring them. Webinars will keep you studying and ameliorate your trading skills.

Open a free demo account now

What is Forex

Forex stands for Foreign Exchange. It is the largest financial market with over $ 5.3 trillion traded daily, which is much larger than the stock market. 4500 banks are involved. Currencies are traded in pairs through a broker or dealer. Pairs examples are the euro and the US dollar (EUR/USD), the British pound and the Japanese Yen (GBP/YPI) … There are 6 major currency pairs: EUR/USD, GBP/USD, USD/CHF, USD JPY, USD/CAD, and ASD/USD.

Until 1995 small investors had no access to the Forex Market. Until then it was only accessible to big networks and banks. The benefits of the Forex market are its deep liquidity, its 24 hours/day trading opportunity, and the possibility of trading from anywhere in the world.

Making a profit

Suppose that the dollar ($$$) is expected to weaken in value related to the euro (€€€). The Forex trader will use his dollars to buy euros. If the euro strengthens then the purchasing power to buy dollars has now increased. The trader can now use the euros to buy back more dollars than he started with, making a profit.

How do Forex traders make money?

What is a pip?

A pip is a very small measure of change in a currency pair in the Forex market. If prices move from 95.00 to 95.50 there is a 50 pip move.

Forex trade sizes

When you enter a trade by buying you have to exit by selling. When you enter a trade by selling you have to exit by buying.

When the market is moving up we say it’s rallying. Then your trade position is long or bullish.

When the market is falling your trade position is short or bearish.

95% of all traders lose because they start without any education in the field. Thus first be educated and only then start trading.

Forex market hours

verlapping trading sessions

The best time to trade is when trading sessions overlap. But you can trade during any session.

The market can only move in 3 directions:
– UP
– DOWN
– SIDEWAYS

You will learn how to make money in all these markets as well in the UP market, the DOWN market as in the SIDEWAYS market.

The different types of orders

INSTANT ORDER: Market order instantly executed at the current price.
PENDING ORDER: Limit order executed at your target price.
STOPLOSS ORDER: Executed at your target price to prevent loss.
LIMIT ORDER: Take a profit order executed at your target price to take profit.

When you place an order you must also place a STOPLOSS ORDER and take a PROFIT ORDER. When you buy you must exit by selling. When you sell you must exit by buying.

STOPLOSS ORDERS and TAKE PROFIT orders can be either sell orders or buy orders.

What is the spread?

The spread is the difference between the price at which a dealer will buy a currency and the price at which he will sell a currency.

if you’re serious about Forex trading you should consider mentorship. A mentor can explain to you what he learned through years of experience in a much shorter time. You can sign up to get mentorship at:

What you learned so far

– What Forex trading is
– How to trade the Forex market
– That the Forex market moves just like any other market
– Different types of orders used in Forex trading
– How to place a trade on the Forex market
– How you can earn money by trading Forex
– How you can protect yourself should your trade not go your way.

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