Forex guide

Learn about forex

If you are interested in currencies like the dollar, euro, yen and pound sterling, learn forex trading with charts analysis to make money online. This app is a basic course for beginners and is like an ebook free where you can get education and knowledge about trading. The forex market is different form the stock exchange market but both ways of investing have similarities in fundamental and technical analysis, so if you know how to trade equities, penny stocks, cfds and options, that knowledge is useful to trade the eur usd currency pair although you should follow other rules to manage a position.

Inside this learning app you will find:

♦ What is the foreign exchange fx market?
♦ Who are the participants including professional traders.
♦ The size of this huge market and how much money is traded each day.
♦ Liquidity and its suppliers.
♦ Difference with the futures market.
♦ A brief economic history about forex quotes and currency rates.
♦ Trading hours by region, it is global so it is like a world session clock. The economic calendar is not provided inside.
♦ The main market finance centers as new york, london and tokyo.

There is basic knowledge that you need to have if you want to use tools to trade strategies:

♦ What are a pips, spreads and currency pairs like eur usd.
♦ The use of leverage, which is very powerful but you need to keep in mind risk management and lot size.
♦ Pending orders that are helpful to exit a trading position: Stop loss, take profit and trailing stop.
♦ The risk caused by slippage in large lot sizes.

If you want to go more in depth and start a journey to become a professional trader in forex it is vital to learn technical analysis that are methods to forecast a currency price and be profitable on the platform.
You will also find:

♦ The popular japanese candlesticks
♦ What are support and resistance levels and how breakouts happen to start a new trend.
♦ Price action which is simple trading without indicators.
♦ The meaning of volatility and momentum, the meter strength.
♦ What are chart patterns in technical analysis, some examples of them and what they imply.
♦ The trading of gaps as chart signals.

It is important to always practice first in a demo account from a recognized platform or a simulator where you can trade currency pairs with virtual money