Introduction to Forex trading
Introduction to Forex trading is a free lecture from Forex trading strategies from a professional trader + Top 5 professional EA course. Enroll here in the course: https://eaforexacademy.com/courses/algorithmic-trading/forex-trading-strategies/
Introduction to Forex trading:
Hello traders! In this first Introduction to Forex trading lecture, I will explain to you what the Forex market is in the simplest terms possible without theory. Forex is the largest market on earth where traders can buy and sell currencies.
With over 5 trillion dollars in daily transactions, there are many participants - over 5 trillion dollars in daily transactions, banks, huge companies, hedge funds, investors, and Forex brokers.
The Forex brokers are exactly who we will use are retail traders to access the market. These are huge companies that offer the trading platforms we use to buy and sell currencies.
Now, there are reasons I prefer the Forex market over equities, bonds, commodities, or any other market. The Forex market is open 24 hours a day, Monday through Friday. The spread and commissions are lower compared to the other markets, which makes Forex a very accessible way to participate.
Because the spread for the currencies is so small, it makes Forex the most suitable for algorithmic trading.
If you are a complete beginner, and this is your first trading course, do not worry. It is not complicated. In the next lecture, you will learn about the spread, the platform, and how it works.
Most brokers use CFD trading, which stands for Contract for Difference. This means that every time we open a trade, we make a contract with the broker. If the price goes in our direction, and we close the trade, the broker will pay us the difference.
This means that we don't physically buy or sell the assets, but we are speculating on their value and can profit in both directions. For example, we can sell EURUSD. When the price goes lower, we can close the positions and take the profit.
So, here are the steps that each trader goes through. First, you need to choose a trading broker. There are thousands of brokers, and in the next lecture, I will give you some tips about them.
Secondly, you will have to select the platform you will be using. For my trading and training purposes in my courses, I use MetaTrader.
This is because it is a free platform, most brokers offer it, and it allows algorithmic trading. At the end of this section, I will show it to you, and I will teach you the basics that you need to know for the 5 strategies in this course.
Third, you have to decide if you will be trading manually or algorithmically. I highly suggest you complete this course before making that decision. This way, you will have a clear understanding of what manual trading and algorithmic trading are.
Fourth, you will have to select your strategy for trading. Many beginner traders begin to buy and sell based on the information they have heard on the news. They look at the economy calendar, or they listen to a friend.
That is a huge mistake and a big reason why most beginner traders end up losing their money. You need to have a precise strategy and stick to it. In this course, I will teach you 5 different strategies. It will be your choice if you want to trade using one of them, a few of them, or with all of them.
Lastly, you will need to test your strategies on a demo account. With Forex brokers, it is possible to have a free virtual account. This way, you will have access to the market, and you can practice as long as you wish.
When you are ready, you can fund a real trading account and start trading. I suggest that you don't rush into trading. Spend as much time as you need to practice until you are comfortable with the strategies you will be using, and until you are sure you are ready to risk real money.
The course and the Introduction to Forex trading are included in our Packages:
https://eaforexacademy.com/packages/
The Expert Advisors in the course are created with the following program:
★ Forex Strategy Builder Pro - 2 weeks trial:
https://eaforexacademy.com/software/forex-strategy-builder-professional/
★ EA Studio comes - Free course and 15-days trial:
https://eaforexacademy.com/software/expert-advisor-studio/
� If you have any questions about Introduction to Forex trading, please, write in our trading Forum.
https://eaforexacademy.com/forums/forum/general/
Our online algorithmic trading courses:
https://eaforexacademy.com/courses/algorithmic-trading/
Let’s connect on social:
Facebook: https://www.facebook.com/eaforexacademy/
Instagram: https://www.instagram.com/eaforexacademy/
LinkedIn: https://www.linkedin.com/company/33249615/
Twitter: https://twitter.com/EAForexAcademy/
Introduction to Forex trading:
Hello traders! In this first Introduction to Forex trading lecture, I will explain to you what the Forex market is in the simplest terms possible without theory. Forex is the largest market on earth where traders can buy and sell currencies.
With over 5 trillion dollars in daily transactions, there are many participants - over 5 trillion dollars in daily transactions, banks, huge companies, hedge funds, investors, and Forex brokers.
The Forex brokers are exactly who we will use are retail traders to access the market. These are huge companies that offer the trading platforms we use to buy and sell currencies.
Now, there are reasons I prefer the Forex market over equities, bonds, commodities, or any other market. The Forex market is open 24 hours a day, Monday through Friday. The spread and commissions are lower compared to the other markets, which makes Forex a very accessible way to participate.
Because the spread for the currencies is so small, it makes Forex the most suitable for algorithmic trading.
If you are a complete beginner, and this is your first trading course, do not worry. It is not complicated. In the next lecture, you will learn about the spread, the platform, and how it works.
Most brokers use CFD trading, which stands for Contract for Difference. This means that every time we open a trade, we make a contract with the broker. If the price goes in our direction, and we close the trade, the broker will pay us the difference.
This means that we don't physically buy or sell the assets, but we are speculating on their value and can profit in both directions. For example, we can sell EURUSD. When the price goes lower, we can close the positions and take the profit.
So, here are the steps that each trader goes through. First, you need to choose a trading broker. There are thousands of brokers, and in the next lecture, I will give you some tips about them.
Secondly, you will have to select the platform you will be using. For my trading and training purposes in my courses, I use MetaTrader.
This is because it is a free platform, most brokers offer it, and it allows algorithmic trading. At the end of this section, I will show it to you, and I will teach you the basics that you need to know for the 5 strategies in this course.
Third, you have to decide if you will be trading manually or algorithmically. I highly suggest you complete this course before making that decision. This way, you will have a clear understanding of what manual trading and algorithmic trading are.
Fourth, you will have to select your strategy for trading. Many beginner traders begin to buy and sell based on the information they have heard on the news. They look at the economy calendar, or they listen to a friend.
That is a huge mistake and a big reason why most beginner traders end up losing their money. You need to have a precise strategy and stick to it. In this course, I will teach you 5 different strategies. It will be your choice if you want to trade using one of them, a few of them, or with all of them.
Lastly, you will need to test your strategies on a demo account. With Forex brokers, it is possible to have a free virtual account. This way, you will have access to the market, and you can practice as long as you wish.
When you are ready, you can fund a real trading account and start trading. I suggest that you don't rush into trading. Spend as much time as you need to practice until you are comfortable with the strategies you will be using, and until you are sure you are ready to risk real money.
The course and the Introduction to Forex trading are included in our Packages:
https://eaforexacademy.com/packages/
The Expert Advisors in the course are created with the following program:
★ Forex Strategy Builder Pro - 2 weeks trial:
https://eaforexacademy.com/software/forex-strategy-builder-professional/
★ EA Studio comes - Free course and 15-days trial:
https://eaforexacademy.com/software/expert-advisor-studio/
� If you have any questions about Introduction to Forex trading, please, write in our trading Forum.
https://eaforexacademy.com/forums/forum/general/
Our online algorithmic trading courses:
https://eaforexacademy.com/courses/algorithmic-trading/
Let’s connect on social:
Facebook: https://www.facebook.com/eaforexacademy/
Instagram: https://www.instagram.com/eaforexacademy/
LinkedIn: https://www.linkedin.com/company/33249615/
Twitter: https://twitter.com/EAForexAcademy/
