What are the basics of trading Forex for beginners
I give you a a guide with 25 points that represent the main concepts that you need to learn in order to proceed with your Forex Trading career:
- What is the Forex Market;
- Currency and currency pairs;
- Why do prices move?
- Forex sessions and what to know about them;
- Leverage;
- Margin;
- Pip;
- Lot;
- Spread;
- Different types of orders;
- Entry point;
- Stop loss and Take profit;
- Forex Brokers;
- Different types of Brokers;
- What you should look for when choosing a Forex broker;
- Trading platforms;
- Different charts;
- Technical and fundamental analysis;
- Risk management;
- Drawdown;
- Risk per trade;
- Risk to reward ratio;
- Correlation;
- Psychology behind trading;
- Different types of strategies/systems.
You can find all of this online, make sure that the website where you learn these concept from is a reliable one.
If you are interested, I also have a beginners’ course that cover all of this and much more: Forex Trading: Your Complete Guide to Get Started Like a Pro.
The link redirects you to the page with a 95% discount.
What after this? Now you know everything you need to know to face the market, but you need a strategy. Do you prefer automated systems? Do you like to analyze each market scenario? Do you prefer something in between like semi-automated strategies?
Once you master the first 25 points, you will know better what kind of trader you are and what kind of strategy may suit you better.
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