Forex Trading Course for Beginners

Welcome to our beginners Forex trading course. If you’re completely new to the world of Forex trading and want to understand how to set up an account then this course is for you.

In this step-by-step course, you’ll learn about the Forex markets, terminology and how to prepare for your first trade.

What is Forex Trading?

FOREX TRADING refers to the exchange of one currency with another in at least two opposing sequences in order to profit from the change in the rate of exchange between both currencies.

When we say opposing sequences, it means that you must first be in possession of a currency of trade, use it to buy a certain amount of another currency, wait for the second currency to gain in value over the first currency held, then re-exchange the 2nd currency for the first one, getting more of the first currency in the process.

In ONLINE FOREX TRADING, this process is performed using certain technology such as trading platforms, is highly automated and occurs very fast. The process is a mirror of what goes on in the offline currency exchange market. It is also done on a much larger scale, as this process includes all players in this market on a global scale.

So what does a beginner who may have some faint idea as to how currencies are exchanged with a local Bureau de Change operator, have to know about the way the online SPOT FOREX market operates?

• Every currency listed in the SPOT FOREX market is a floating currency. That means that its value is determined by market forces and this is what makes the value of that currency subject to change.

• The change in value of floating currencies is a continuous process.

• The spot forex market is open 24-hours a day, 5 days a week.

• There are currencies whose values are either fixed to a single value or within a tight range by the government. These currencies are fixed currencies and are not suitable for SPOT FOREX TRADING. Examples of such currencies are the Chinese Yuan (CNY).

• Currencies are listed, priced and traded in pairs. This because what is traded in spot forex is the change in value of one currency relative to another currency.

• You cannot access the market directly. Rather, a trader will need to open an account with a broker. The broker will provide the platform, provide a fair and balanced field for all participants and generally provide market tools for traders.

Let us now examine aspects of these points listed.

Fixed vs Floating Currencies

A currency is said to “float” when its value is determined by forces of demand and supply for it. Change in value of a currency is what makes FOREX TRADING, and is a continuous process which occurs minute by minute, and second by second when the market is very active. You cannot make any money if the value of a currency is static, such as is the case with fixed currencies. Some governments either fix a set value for their currencies, or restrict its movements to a tight band.

Various factors cause traders to have demand for a currency, or cause them to jettison it for others. Many of these factors are listed in THE FOREX news calendar and form the basis of news trades. The relationship between these factors and the change in value of currencies is complex and demands careful study from the beginner trader. Indeed, a beginner IN FOREX should ideally not trade the news until these complex relationships are understood and mastered.

FOREX TRADING HOURS

The forex market is a 24-hour market. This is because there are three major trading hubs which do most trading activity over an 8 to 10 hour period. There are periods when the trading activity in at least two hubs will overlap, producing the periods of maximum market volatility. A situation where we have one zone opening for business in a day (Tokyo and Sydney- Asian session), followed by the London session (European market) and finally the New York session, gives an almost continuous state of forex trading activity over a 24-hour period, commencing on Sunday 9pm GMT and ending on Friday 9pm GMT.

Currency Pricing and Pairing

Currencies are traded in pairs and have two sets of prices. There is a bid price, and the ask price. So a typical quote for the Euro against the US Dollar will be displayed as follows:

EUR/USD = 1.0345/1.0347

In this example, the currency pair is EUR/USD, the bid price is 1.0345 and the ask price is the 1.0347.

Market Access

Access to the forex market is obtained through a FOREX TRADING ACCOUNT. Apart from a brokerage account, there are other requirements the trader must fulfill:

• There must be an acceptable means of depositing and withdrawing funds from the account. Various methods now exist in addition to the conventional bank accounts: credit cards, Skrill, Neteller, etc.
• The new trader must submit a government-issued ID and a document acting as a proof of residence such as a utility bill or bank statement to verify the identity and the residence of the trader.
• The trader must have the required trading capital deposited into the trading account. Such capital must constitute the required margin for any trades placed on the account.
• The trading platform does not work in limbo: it has to work on a hardware device such as a laptop, desktop, smartphone or tablet device. So the new trader must own any of these devices to be able to TRADE FOREX.

What will you learn?

• Step-by-step lessons for beginners that introduce you to the world of forex trading
• Understand the basic forex terminology including spreads, swaps and currency quotes
• How to set up a demo account
• Setting up trades using stop-losses and limit orders
• Creating a trading plan and using money management

Module 1          Introduction to the BINARY OPTIONS STRATEGY Course

Unit 1    An Introduction to the Binary Options Course

Unit 2    Risk and Money Management      

Unit 3    MT4 Settings and Template                      

Unit 4    Setting up Alarms on the MT4 Platform                  

Unit 5   Timing Your Entries in Binary Options                      

Module 6          News Trading and 60s BINARY OPTIONS STRATEGY

Unit 1    How to Trade High Impact Events with 60s Options

Unit 2    Understanding the Effects on Currency Pairs             

Unit 3    How to Read and Interpret Data                             

Unit 4    Setting up your Charts for 60s Options               

Unit 5    How to Trade the News with 60s Binary Options    

Unit 6    60s Binary Options - Live Trade Example                

Module 7          Day TRADING BINARY OPTIONS Strategy

Unit 1    Choosing the Right Assets to Day Trade                                               

Unit 2    How to Find Important Levels for the Day Trading Strategy    

Unit 3    Trade Setups, Indicators and Charting                                       

Unit 4    How to Trade into Momentum                                                   

Unit 5    Choosing the Correct Entry and Expiry Time                              

Unit 6   Day Trading Binary Options - Live Lesson                                 

Module 8          Day Trading the One-Touch Options Strategy

Unit 1    How to Trade Market Cycles                                                     

Unit 2    Plotting the Fibonacci Retracement Levels                                 

Unit 3    Plotting the Fibonacci Expansion Levels                                   

Unit 4    How to Choose the Correct Strike Price Range                          

Unit 5    How to Choose a Strike Price with Stochastics              

Unit 6    One-Touch Binary Option - Live Trade Example                          

Unit 7    One-Touch Binary Option - Live Trade Example 2                       

Module 9          Binary Options Strategies that use Indicators

Unit 1    Trading the MACD with Binary Options                                      

Unit 2    Trading Moving Average Crossover Strategy                             

Unit 3    Binary Options Strategy using Reversal Patterns                        

Unit 4    How to Trade Breakouts with Binary Options                              

Unit 5    Parabolic SAR Binary Options Strategy                                     

Unit 6    Advanced Stochastic Oscillator BO Strategy                             

Unit 7    How to Trade Earnings Releases with Binary Options                 

Unit 8    How to Trade with the Ichimoku Cloud                                       

Unit 9    News Trading Strategy with Binary Options                                

Unit 10  Advanced RSI Binary Options Trading Strategy