Forex Trading Tutorial for Beginners.
Make Forex Trading Simple.
Annotation.
What is traded in Forex market? The answer is simple: currencies of various countries. All participants of the market buy one currency and pay another one for it. Each Forex trade is performed by different financial instruments, like currencies, metals, etc. Foreign Exchange market is boundless, with the daily turnover reaching trillions of dollars; transactions are made via Internet within seconds.
What is traded in Forex market? The answer is simple: currencies of various countries. All participants of the market buy one currency and pay another one for it. Each Forex trade is performed by different financial instruments, like currencies, metals, etc. Foreign Exchange market is boundless, with the daily turnover reaching trillions of dollars; transactions are made via Internet within seconds.
Major currencies are quoted against the U. S. dollar (USD). The first currency of the pair is called base currency and the second one - quoted. Currency pairs that do not include USD are called cross-rates.
Forex Market opens wide opportunities for newcomers to learn, communicate, and improve trading skills via the Internet.
This Forex tutorial is intended for providing thorough information about Forex trading and making it easy for the beginners to get involved.
Confirm the theory.
Forex trading Basics for Beginners: Market Participants, Advantages of Forex Market Currency Trading Features: Online forex trading techniques A Sample of Real Trade Analysis Methods Forex Guide: Top 5 Tips to Guide You.
Trading Forex.
Any activity in the financial market, such as trading Forex or analyzing the market requires knowledge and strong base. Anyone who leaves this in the hands of luck or chance, ends up with nothing, because trading online is not about luck, but it is about predicting the market and making right decisions at exact moments. Experienced traders use various methods to make predictions, such as technical indicators and other useful tools.
Any activity in the financial market, such as trading Forex or analyzing the market requires knowledge and strong base. Anyone who leaves this in the hands of luck or chance, ends up with nothing, because trading online is not about luck, but it is about predicting the market and making right decisions at exact moments. Experienced traders use various methods to make predictions, such as technical indicators and other useful tools.
Nevertheless, it is quite difficult for a beginner, because there is a lack of practice. That is why we bring to their attention various materials about the market, trading Forex , technical indicators and so on so as they are able to use them in their future activities.
One of such books is “Make Forex trading simple” which is designed especially for those who have no understanding what the market is about and how to use it for speculations. Here they can find out who are the market participants, when and where everything takes place, check out the main trading instruments and see some trading example for visual memory. Additionally, it includes a section about technical and fundamental analysis, which is an essential trading part and is definitely needed for a good trading strategy.
© IFCMARKETS. CORP. 2006-2017 IFC Markets is a leading broker in the international financial markets which provides online Forex trading services, as well as future, index, stock and commodity CFDs. The company has steadily been working since 2006 serving its customers in 18 languages of 60 countries over the world, in full accordance with international standards of brokerage services.
Risk Warning Notice: Forex and CFD trading in OTC market involves significant risk and losses can exceed your investment.
IFC Markets does not provide services for United States and Japan residents.
Forex trading tutorial.
Our tutorial on forex trading contains general rules, tips and guidelines for a new trader. The first steps in the world of Forex.
Introduction.
Here’s our guide for beginner traders that will put the main ideas of the Forex market in a nutshell. The forex trader tutorial has been devised by the professional traders of the LiteForex Company whose extensive experience helped optimize its structure and contents. The tutorial offers all you may need for a quick start of your trading career.
If you are not acquainted with the terms and don’t have the least idea of how this system works, this Forex tutorial is exactly what you need. From the very beginning, you will appreciate the accessibility of the provided information. After reading the first section of our forex trading tutorial, you will understand the way the Forex trading system works and you will be able to communicate with your trading peers as an equal.
Traditionally, like any other Forex trader tutorial, this tutorial contains basic information on fundamental and technical analyses. The main mechanisms of price formation, the market impact of political and economic events, and other factors that affect stock prices are set forth in a simple and understandable way. Particular attention is paid to the popular methods of technical analysis. The author examines in detail the indicators and graphical patterns used by traders.
As you may have already noticed, a great deal of Internet blogs is devoted to trading psychology. It’s not for nothing! The Trading Psychology section of our Forex tutorial deals with the question of what the psychological pitfalls of trading are and why it’s so important to work on yourself.
The money management section of this Forex tutorial is worth a special mention. It reflects the authors’ personal experience since this subject is part and parcel of practical application and therefore cannot be examined separately. You will learn to control risks and place Stop Loss and Take Profit orders wisely, the way Forex market professionals do.
The last section of our Forex tutorial will help you build your own trading strategy. Starting with the basic idea and concluding with testing and adjustment, you will develop your first trading system together with the professional trader. This section is a logical conclusion of the whole tutorial as from now on you can start your safe journey in the world of Forex trading. Feel free to download our Forex tutorial right from LiteForex’s official site.
Introduction.
Technical analysis.
The fundamental analysis.
Trading Psychology.
Risk and money management.
The creation of trading strategy.
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Risk Warning: Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.
LiteForex Investments Limited registered in the Marshall Islands (registration number 63888) and regulated in accordance with Marshall Islands Business Corporation Act. The Company’s address: Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. : clientsliteforex.
Liteforex Investments Limited does not provide service to residents of the USA, Israel, Belgium, and Japan.
13 Forex Apps for Smartphones to Help you in Trading.
Many people have made and lost fortunes by trading on the well known Forex market , and thanks to its success, many developers have created apps for those who want to try their luck at currency exchange. Therefore, those that either want to start learning the Forex trade, or who want to be on top of all the financial news and make quick trades, have at their disposal lots of Forex apps for practically all mobile devices.
These Forex apps for mobile devices come in all shapes and sizes, each bringing new advantages to those that rely on them. If you have used similar services in the past, some of these names will be very familiar, as they are the mobile apps of the respected companies that users have made trades on.
Best Apps for Forex users.
Image Credit: Alphaquantfx.
As mentioned before, there are lots of Forex apps out there. Many of them are available on different platforms, such as Android, iOS, BlackBerry or Windows Phone, which means that practically everyone interested in Forex trading will have the possibility to install them.
Also, keep in mind that some of these apps are specialized in providing one kind of information, and truth be told, it would pretty hard to make one app that would be able to provide everything a Forex trader would need, so if one app does not satisfy your needs, then you might want to look at some others that have other features.
Bloomberg is one of the best known and relied upon sources for financial information of all. Most of the Forex traders that are interested in viewing the latest business news and charts rely on this easy to use app. Its simple user interface and top notch quality have made it a favorite in its field.
Another very respected service that was available for a pretty long time is MetaTrader (Developed by MetaQuotes Software). It’s PC users have always been satisfied with the services’ features and stability, and the mobile apps are living proof that the developers have brought all the functionality of its bigger brothers into the mobile world.
The official Forex app is available for Android and iOS users and it allows them to view rates for over 50 different currencies easily. Its intuitive user interface gives it the advantage, as it is very simple to navigate the app and access all the information that it provides.
Image Credits: Igmarkets.
Another great app for Forex traders is Trade Interceptor. It offers a host of features crafted especially for those who want to do serious trading on Forex or CFD. Its interface is simple to read and it provides live information, graphs and many other tools for analysis.
Scoring a very attractive user interface that is both simple to interact with and provides lots of information, E*TRADE is a very popular app amongst Forex traders. The app features some other tools that might come in handy, such as a voice recorder or a real time list of DJIA, NASDAQ 100 and S&P 500 quotes.
NetDania Forex & Stocks is pretty good app for Forex traders, as it provides real-time stocks value or gold and silver rates. Also, it allows users to view live charts and all of this in a compact, but well designed user interface that works blazing fast and is very reliable.
If you want to trade stocks with the help of a very reliable app that is easy to use and has a awesome looking user interface, then you must try out OANDA fxTrade. The app features live charts, easy buy and sell options and lots of other features that might come in handy to a good Forex trader.
This simple app can come in handy if you ever need a reliable currency converter. Supporting over 160 different currencies, this app can convert from anything to anything else in the blink of an eye. Also, as part of the latest updates, it now supports real-time charts and historical data.
Image Credit: MetaTrader 5.
Apple’s own iTradeMobile app is pretty useful when it comes to Forex trading. It supports up to three CFD and PAMM accounts and it allows users to view real-time data and also buy or sell currency very fast. Being developed by Apple, the app has a premium build and it works flawlessly.
If you plan on having at all times the latest information in the financial world, like live quotes or real-time charts, then you can try out FOREXYARD. This is a very simple to use app that can keep you informed of all the changes between different currencies.
Forex trading is all about anticipating when a currency will be best to buy, so that, in comparison to another currency, you will be able to sell it off for a profit. But knowing when the time is right to make your move is more of an art, and if you know every event and news article about finances and other related areas, you will be able to make great decisions. This app is a great news app for forex Traders.
MBT Mobile is a well known name for Forex traders, as this awesome app allows them to view their account balances easily and also provides top notch information in real time for those who want to be on the lookout for the deal of a lifetime. Also, it allows users to customize what currencies they see, so they can focus on the ones that count.
Even though this app is still in its infancy, it still deserves the attention of interested Forex traders. It features all the ususal features that one might find in any of the other apps, and all of these goodies are wrapped in a very well designed user interface that looks good and moves fast.
Although each of these apps are very well designed and they provide top notch services to all their users, keep in mind that the world of Forex trading is constantly on the move and it pretty hard to get started. Do lots of research before you try to give it a shot.
Also, for those that have been in this business for some time now, they will find these Forex apps very useful, as they provide everything from news to daily currency rates and all kinds of other useful information. If you know other apps that could help Forex traders, leave us a comment and we’ll see to it that it is listed amongst the others.
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