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Forex for Dummies

/ Education/ Forex for Dummies

There is no doubt about it – Foreign exchange trading, or forex, has garnered enormous popularity in the last decade, as droves of newcomers have crossed over from stocks and other investments to test their skills with the currencies of the world. And why not? Forex is our largest and...

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If learning currency trading is such a difficult task, how do we proceed? Please accept that we are only providing a framework for you to get started quickly. Trading currencies entails high risk, as the high casualty rate figure warns. You must approach the market in a disciplined manner with a...

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Currencies come in pairs, like the Euro versus the U.S. Dollar, or “EUR/USD”. It may surprise you, but currencies have no “intrinsic value”, as with stocks. Their value is “relative” to each other and the economies of the respective countries that stand behind them. The first currency listed is always...

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It is now time to set up your trading platform for analysis and execution of forex orders. The screen shot below is for the popular MetaTrader4 trading system, offered as standard by most all forex brokers. Let’s review the following diagram: The MT4 charting software, or any other proprietary model...

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As noted in the rules at the beginning of this forex trading tutorial, currency trading is all about improving the “50/50” odds in your favor by finding trends and anticipating when they might repeat a familiar pattern of behavior. When you find one of these high-percentage opportunities, you want to execute...

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Your assignment now is to convert the above scenario into a step-by-step trading plan that details each decision that you would have had to make. It is best that you do this on your own in order to feel comfortable with the result. You will then want to practice on...

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As you begin currency trading, remember these basic methods to help you toward more profitable trading. Currency trading always involves risks. You can feel more confident as you take it step-by-step. Understand how and why currency moves. Spend time seeing the correlation between interest rates, news events, the fundamentals and technical...

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Foreign exchange (forex, or FX for short) is the marketplace for trading all the world’s currencies and is the largest financial market in the world. There are many benefits of trading forex, which include convenient market hours, high liquidity and the ability to trade on margin. Learn more about eight...

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Once you have chosen your platform, you can start trading. Just open the deal ticket for your chosen market, and you’ll see both a buy and a sell price listed. You’ll also be able to decide the size of your position and add any stops or limits that will close...

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What is the difference between saving, investing, trading, and speculating? Sometimes people think they are saving, when they are really investing. Or they trade when they are trying to invest. Sometimes people simply don’t know the difference between investing and trading so they just end up saving. And that’s a...

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