Course Content
Introduction to Forex Market
Start with the basics; what is the forex market, who are the key players, learn about market structure and size, what are the advantages of forex trading, and why you should trade forex. Learn how to setup a free practice account so you can try everything you learn.
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Basic Terminology
Learn the basic terminology used while trading forex. Get familiar with basic terms such as currency pairs, types of orders, pips, spreads, margins, and leverage.
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Synchronize Time and Place for Forex Trading
Delve into what is traded in the forex market, major currency pairs, cross currencies, and exotic pairs. Find out when the forex market is the most active and how money is made from trading.
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Get Equipped for Forex Trading
Familiarize yourself with the basic tools needed to successfully trade forex. Learn how to analyze charts, trend lines, and time-frames. Discover what trading strategies are at your disposal, such as; scalping, day trading, long vs. short trading, swing trading, and many more.
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Fundamental Forex Trading Strategies
Discover the factors that most commonly influence the market and what impact they can have on your trading decisions. Learn how and when to use fundamental analysis, and the importance of a good economic calendar which details upcoming economic events.
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Technical Forex Trading Strategies
Learn how to use technical analysis to evaluate the market and acquire a better understanding of the most popular trading strategies. You’ll learn about price action, support and resistance levels, chart patterns, and the importance of technical analysis.
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Fibonacci Technical Indicator
The Fibonacci Indicator is one of the most commonly used indicators. Receive an in-depth explanation of what the Fibonacci indicator is and how to use it when trading. Start creating your personal trader's toolbox.
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More Technical Trading Indicators
A profitable trader has many tools at his disposal. Learn about the essential tools used by traders such as; Moving Averages (MA), Relative Strength Index (RSI), Stochastic, Bollinger Bands, Parabolic SAR, ADX, and Pivot Points.
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Killer Combinations for Trading Strategies
The key to using forex indicators is to which to use together. Learn more about the Elliott Wave prediction pattern, divergence trading, carry trading, currency correlation strategies, and retracement/reversal strategies. Learn which indicators to use together for the best results.
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Forex in Relation to Stocks and Commodities and Trading with MetaTrader
Learn about the inter-relationship between stocks, commodities, and indices to the forex market. Take your first steps and learn how to master the MetaTrader trading platform.
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Forex Trading Course
About Lesson

What do we trade?

First, it is important to get used to the fact that in Forex, we trade currencies, not physical goods. Currencies are goods like any other, but when you trade forex online, you don’t see or touch the money until you withdraw the profit from your account. The idea behind buying currency is very simple. If you believe that a currency’s value will rise, you buy it with another currency and hold it until you no longer believe it will rise further. If you think a currency’s value will fall, you sell it. Whether you buy or sell, you exchange currencies – buying one currency and selling another (e.g. buying the dollar and selling the euro). When you buy a forex pair, you always buy the first currency alongside the second one. This means that you are selling the second currency. For instance, if you buy USD/JPY, you are buying the dollar and selling the Yen.  It is the same when you sell a forex pair; you always sell the first currency and buy the second. Currency instruments are always traded in pairs. Imagine a currency pair as a couple of boxers in the ring, caught up in an endless struggle over who is stronger. During the match, each has their stronger and weaker moments, their ups and downs. Sometimes they rest, and sometimes they attack. Symbols – Each instrument is indicated by 3 letters (the first 2 are the country and represent the base country for that currency, and the third is the currency’s name). For example, USD = U.S. Dollar.

There are 3 main pair categories:

Majors – The 8 most traded pairs in the world, for example, GBP/USD (British pounds/US dollar), USD/JPY (US dollar/Japanese yen), EUR/USD (euro/US dollar). In the next lesson, we will examine all 8 major currency pairs. Cross Currency Pairs (or Crosses) – All pairs that do not include the US dollar. For example, EUR Crosses are all pairs with the euro, except for EUR/USD (a Major). Exotic Currency Pairs – Pairs comprising one major currency and one “weaker” currency (from a developing market). These pairs are usually traded in much lower volumes. Commissions on exotic pairs, asked by the brokerages, are relatively high. For example, GBP/THB (British pound/Thai Baht).

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