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.
Top 5 Books to Become a Forex Trader.
For many investors, the world of foreign exchange, or forex, seems daunting and thus is often overlooked or avoided. However, several books are available on the subject of currency trading, ranging from basic education on the forex market to advanced trading strategies based on fundamental analysis and technical analysis.
"Currency Trading for Dummies"
"Currency Trading for Dummies" is a good pick for traders who are just beginning to tackle the world of foreign exchange. Published in 2011, the book was written by Brian Dolan, a veteran of the forex market for more than 20 years, working as a currency trader and market analyst. Dolan was the chief currency strategist at Forex, where he oversaw fundamental and technical analysis, and is regularly used as a resource for the latest currency developments by the financial media. The book is one of the best for beginners, as it presents clear, easy-to-read instructions on the forex market.
"Day Trading the Currency Market"
Kathy Lien's "Day Trading the Currency Market" is widely popular among new and burgeoning forex traders. Her book provides a two-pronged approach, offering both theory and actionable learning, with balanced insight into fundamental and technical forex trading strategies designed to generate regular profits. Lien's book also offers extensive and specific information on every aspect of currency markets and foreign exchange trading. Lien walks readers, step-by-step, through Forex fundamentals — such as long - and short-term factors affecting currency pairs — as well as covering technical analysis trading strategies that professional forex traders utilize on a daily basis.
Lien, a world-renowned currency analyst, has decades of experience and an extensive resume. Previously working at JP Morgan Chase & Co (NYSE: JPM), Lien is BK Asset Management's managing director. She is a frequently featured guest on Bloomberg, CNBC and Reuters.
"Currency Forecasting"
Written by Merrill Lynch analyst Michael Rosenberg, "Currency Forecasting" is considered one of the groundbreaking and definitive works on forex trading. For decades, analysts and traders have turned to Rosenberg's concise, intuitive and brainy piece, which combines the macroeconomics of forex with fundamental and technical analysis. The book was first published in 1995, but it remains a helpful current guide to the currency markets. Rosenberg links international monetary dynamics to what legitimately happens in currency markets. He has long been hailed as a leader among forex analysts, and his ability to delineate clear connections between disparate finance and economic factors continues to make "Currency Forecasting" a go-to guide for traders interested in currency trading.
"Japanese Candlestick Charting Techniques"
Steve Nison's "Japanese Candlestick Charting Techniques" provides a lengthy and in-depth education on Japanese candlestick charts, a versatile technical tool that's very popular among forex traders. The book discusses how candlestick charts are used in conjunction with other technical tools to aid in improving technical market analysis. Candlestick charting is also often used for futures, speculation, hedging, equities or anywhere that technical analysis may be applied. Nison's background, comprised of years of research and study, as well as practical application and his to-the-point and easily understandable language make "Japanese Candlestick Charting Techniques" an ideal read for traders who are seeking a better understanding of forex trading strategy.
"How to Make a Living Trading Foreign Exchange"
Courtney Smith begins "How to Make a Living Trading Foreign Exchange" with an introduction to the world of forex, explaining the basics of foreign exchange trading and how it works. The largest portion of the book is devoted to trading strategies that Smith recommends for making money through forex trading, citing six ways that he touts as ideal for helping traders earn a steady income. Unique to the book is Smith's rejection rule, a strategy designed to double the profit generated from basic channel breakout systems. Smith's book also provides important risk management techniques, as well as material on the psychology of trading.
Forex Books for Beginners.
Here you will find the Forex e-books that provide the basic information on Forex trading. You can learn basic concepts of the Forex market, the technical and fundamental analysis. While all these e-books are recommended for every new Forex trader, they won't be very useful to the very experienced traders.
Almost all Forex e-books are in. pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are having problems downloading the books and you are using Google Chrome , try right-clicking a book download link and choose 'Save link as. '
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Trend Determination — A quick, accurate and effective methodology by John Hayden.
Introduction to Forex — by 1st Forex Trading Academy. This trading course intends to provide to all of the students analytical tools on the trading system and methodologies . In this respect, the purpose of the course is to provide an overview of the many strategies that are being used in Forex market and to discuss the steps and tools that are needed in order to use these strategies successfully.
The Six Forces of Forex — by Scott Owens. A small e-book covering the basic and the main problems of Forex trading.
Forex. On-Line Manual for Successful Trading — an introduction into every aspect of the Forex trading including detailed descriptions of the technical and fundamental analysis techniques, by unknown author.
18 Trading Champions Share Their Keys to Top Trading Profits — as the name suggests, the book shares the secrets of the 18 prominent traders with the Forex beginners, by FWN.
The Way to Trade Forex — a 1st chapter of the book that will show you not only Forex basics but also some unusual techniques and strategies that can work for the newbie traders, by Jay Lakhani.
The Truth About Fibonacci Trading — the basic facts and information about Fibonacci levels and their application to the Forex trading, by Bill Poulos.
Quick Guide to Forex Trading — a 2008 edition of the Forex guide for the beginners and private traders issued by Easy-Forex.
Chart Patterns and Technical Indicators — an explanation of the most popular chart patterns and some technical indicators, by unknown author.
Forex Trading — a rather generic all-topic guide for beginners in Forex trading, by Richard Taylor.
Trading Forex: What Investors Need to Know — by NFA. National Futures Association gives introduction to the online retail Forex trading and warns about the potential dangers of such activity. *
My Dog Ate My Forex — by Doug Breiten. A rather generic Forex e-book that, nevertheless, shares some useful insights with the Forex traders on their road to success.
Point & Figure for Forex — by James Chen. An article from 2007 issue of Technical Analysis of Stocks & Commodities magazine. Offers a basic introduction to point-and-figure charting and shows some P&F chart patterns.
MetaTrader 4 for Dummies — by Liam O'Brien. A collection of tutorials and tips on using MetaTrader 4 trading platform. Removed by author's request.
Introduction to Elliott Wave Theory — by Muhammad Azeem. A basic intro to one of the most popular concepts in modern technical analysis.
45 Ways to Avoid Losing Money Trading FOREX — by Jimmy Young. A definitive list of beginners' common mistakes that prevent profitable Forex trading.
An Introduction to Japanese Candlestick Charting — by Erik Gebhard. An inception into Japanese candles, describes 19 most popular candlestick patterns.
Description.
• For Virtual Trading simulator, trade with EUR/USD, USD/JPY, GBP/USD, Bitcoin and OIL)
• Forex trading Basics, Expert tips for beginners, Social - Copy trading Strategies: a step by step master class.
• Interactive quiz for testing your trading skills and intuition.
• A dynamic TOP 10 broker guide including (Etoro, Plus500, AvaTrade, FxPro, FXCM and more)
+ Updated QUIZ with 2X more questions.
+ QUIZ now features also explanations of the correct answers.
+ Possibility to share your QUIZ success with your friends.
+ Enriched and improved info in the "forex basics" section.
+ Improved compatibility for different screen sizes.
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