Forex Basic Course For Beginners

Last Updated : Monday 18th September 2017


Written By Tim Baudin, Forex Trading Instructor

 

This is the free course on Forex trading basics for beginners to get the understanding of forex market and how it works.

It is recommended that you first go through our guide 7 Steps to Getting Started In Forex Trading to get the full picture about the right path to developing your Forex trading skills.

1. What is Forex Trading? – An Introduction for Beginners

Forex market is the place where banks, industries, investors, and traders come to exchange and speculate on currencies. Forex trading involves the trading activities in the forex market.

Forex market is one kind of financial market consists of tradable currency pairs. Forex means foreign exchange.

Read more >> 

2. Forex Market Hours and Best Time To Trade

Forex market has 4 major sessions.

These major sessions are,

  • Sydney session, 5:00 pm – 2:00 am (EDT)
  • Tokyo session, 7:00 pm – 4:00 am (EDT)
  • London session, 3:00 am – 12:00 pm (EDT)
  • New York session, 8:00 am – 5:00 pm (EDT)

Read more >>

3. Forex Lots Explained

In forex, a market lot is the minimum amount of units for trading.

A standard lot consists of 100000 units. There are mini, micro and nano lots too.

Read more >>

4. What is a Pip in Forex Trading?

Pip is the short form of “Percentage in point” which is a unit of change in an exchange rate of a currency pair.

Among the major currencies, only Japanese Yen (JPY) is priced to two decimal places. All other major pairs are priced to four decimal places.

Read more >>

5. Forex vs Stock Market – Advantages of Forex Trading over Stock Trading

Forex market has opened many opportunities that other markets do not have. Even it has many advantages than any other financial markets. This is why most of the traders tend to trade in forex market.

Forex market has opened many opportunities that other markets do not have. The advantages of forex trading over stock trading are given below

Read more >>

6. Which Are the Best Currency Pairs to Trade Forex?

Currency pairs are a very much like people, each one has its own personality. They move in different ways, make different trading patterns and have different volatility levels.

Read more >>

7. What is the Best Timeframe to Trade?

The timeframe you choose to trade should be the one that can easily fit into your busy schedule and lifestyle choice.

What is the best timeframe to trade from? What is a timeframe anyway? The video above goes over this and more.

Read more >>

8. How to Read and Interpret a Forex Quote?

In forex, a quote consists of a pair of currencies, one related with another.  Among these two currencies, the first currency is the base currency and the second currency is the counter currency.

For example, EUR/USD is a quote consists of a pair of Euro and US Dollar. Among these two currencies, the first currency is the base currency and the second currency is the counter currency.

Read more >>

9. Positions and Forex Order Types

In this section, we will discuss forex positions, orders and calculation of profit/loss. Before trading in forex, a trader should have a clear understanding of these topics.

Read more >>

10. Limit or Exit Orders in Forex Trading

Exit or limit orders are important as they are related to money management. Money management plays an important role in the success

Some of The frequently used exit orders are,

•           Stop Loss Order

•           Take Profit Order

•           Trailing Stop

Read more >>

11. What is Leverage in Forex Trading ?

The best advantage of the forex market that attracts a trader most is its leverage. Forex brokers offer up to 1:500 leverage. Leverage is the borrowed money from the broker on your initial investment to get a greater return.

The best advantage of the forex market that attracts a trader most is its leverage. Forex brokers offer up to 1:500 leverage. Leverage is the borrowed money from the broker on your initial investment to get a greater return.

Read more >>

12. Day Trading vs Swing Trading

What are the main advantages of Day Trading and Swing Trading? What is the best approach for me?

This is a question I get asked often by my trading friends, especially those new to trading. The vid above goes over this topic somewhat and below I expand on the main advantages of each trading approach.

Read more >>