How Do I Trade Forex - Basic Forex Trading - Introduction To Trading

This is one basic forex trading advice, FX is the biggest and largest financial trading market in the world. It is bigger than the US stock market, because the daily trade turnover has now exceeded 7 Trillion USA dollars.

Understand currencies and price fluctuations. The other basic forex advice is learn about currency market moves, currencies are transacted in pairs. Select a single pair and learn how to trade it until you get to know how that pair moves. Best pair is the EURUSD. Other good pairs are GBPUSD, USDCHF and USDJPY. These four pair make up 160% of all online transactions. Since 2 currencies are in a pair the total is 200%.

Basic Tutorials- About Currency Pairs Tutorials

• Market Participants
• Major Forex Pairs
• FX Pair Names
• Advantages of Trading
• Interpreting Quotes

Get a charting package which allows you to see the prevailing price as it happens & make technical analysis. The most popular software is MT4 Platform. It is easy to use, chart are well presented & the software platform has multiple analysis tools for one to select from. The platform/software displays charts on PC Desktop computer screen: the charts explain the current buy & sell prices of the various Forex pairs. The trading software helps you keep track of your funds and how the pair which you bought or sold is doing.

Basic Guides - Software

Learn Platforms

MT4 Training Tutorial

Download MT4

The screen-shot below illustrates the user interface of the MT4 Software Platform.

Basic Forex Tutorials About MT4 Software Platform

Learn a basic Forex trading system which gives you an indication of when to enter and when to exit trade transactions. Following the markets price action is a popular analysis method that experienced traders have been using for over a hundred years before charts. Candlestick patterns, indicators and systems can also be used. All these techniques/methods are discussed in detail on tradeforextrading.com.

Basic Tutorials - Systems Strategies

• Systems
• Create a Strategy
• Writing Strategy Trade Rules
• Generating Signals
• Tips for Systems Trading Strategies
• Writing a Trade Journal
• Writing a Trade Plan
• Stochastic Oscillator Trading System
• Moving Average Cross-over system

A good Basic Forex Trading System uses the Indicators below:

Please Study Them Before Creating Your Strategy

• RSI
• Stochastic Oscillator Indicator
• MA Indicator
• Parabolic SAR
• MACD
• Bollinger Bands Indicator
• ADX

Explanation of a Strategy

Basic Strategy

Start with a practice account before trading with real money. First start learning about Basic Forex Trading byopening a practice trading account & practice trading with this practice trade account, until you get to learn and understand how the foreign market works and when you're confident and consistently making good profit in your practice account then you as a trader can open a live account.

Basic Tutorials - Account Topics

• Types of Accounts
• Practice Demo Practice Accounts
• Opening a practice demo account

When you open a live trading account, trade with your plan & learn how to manage the emotions in fx by learning about market Psychology.

Basic Guides - Forex Market Psychology Topics

• Psychology of Traders
• Psychology and Emotions in FX Trading
• Market Psychology Principles
• Currency Market Psychology Principles 2

Learn More Topics and Courses:

• How Can I Add AEX in MT5 Phone App?
• How Can I Trade IBEX35 Indices for Beginner Stock Index Traders?
• Stock Index Trading Strategy for Trading AS 51 Index
• EURUSD System EURUSD Trading Strategy
• How to Interpret/Analyze Forex Market Moves Explained