How Do I Trade - Lesson for New Traders
New traders should take a beginner course before trading online. This tutorial covers key ideas to grasp market basics.
How do you research the best ways to start trading? FX is the biggest money market in the world. It's bigger than the US stock market, because the daily trading is now more than 7 Trillion USA dollars.
Understand currencies and price fluctuations. Forex currencies are transacted in currency pairs. Choose a single currency pair and learn how to trade it until you get to know how that currency pair moves. The best currency pair is the EURUSD. Other good currency pairs are GBPUSD, USDCHF & USDJPY. These four currency pairs make up 160% of all online trade transactions. Since 2 currencies are in a currency pair the total is 200%.
About Currency Pairs Guides - Forex Guide Course for Beginners
- Market Participants - Training Course for Beginner Traders
- Major FX Pairs in Forex
- Forex Currency Pair Names
- Advantages of Trading
- Interpreting Currency Quotes
Get a charting platform which allows you as a trader to see the prevailing price as it happens and make trading analysis. Most popular software is MT4 Platform. MT4 software is easy to use, charts are well presented and the trading platform has multiple analysis tools for a fx trader to select and choose from. MT4 software displays price charts on the computer screen: the charts show the current buy & sell prices of the various Forex currency pairs. The MetaTrader 4 platform helps you to keep track of the trading funds on your account by showing the trading account balance and also calculates profits and losses and shows this information on the platform - the platform also indicates how the open trades opened in your trading account which you bought or sold are doing.
Beginner Tutorials for Learning Various Trading Platforms
MetaTrader 4 Platform Lesson Tutorial - Forex Lesson for Beginner Traders
The screen shot below shows the user work-space of MT4 Platform.
Learn a trading strategy that gives signals for entering and exiting trades. Price action is a common method pros used for over 100 years, even before charts. You can also use candlestick patterns, indicators, or systems. Tradeforextrading.com covers all these in detail.
Systems - Forex Guide Course for Beginners
- Making Systems
- How to Make a Strategy
- Writing Strategy Trading Rules
- Generating Signals
- Tips for Developing Systems
- Writing a Trade Journal
- Writing a Trade Plan
- Stochastic Trading Trading Strategy Example Template
- MA Cross-over Trading System
The Trade System uses the Indicators below:
Read Indicator Basics First Before Building Your Trading System
- RSI Indicator
- Stochastics Oscillator
- MA Indicator
- Parabolic SAR Indicator
- MACD
- Bollinger Band
- ADX Trading Indicator
Explanation of a System - Forex Lesson for Beginner Traders
Trading System Example - Forex Lesson for Beginners
Prior to trading with real money, start with a practice trading training account. Start by opening a demo trading practice account, and use it to practice trading until you understand the market and are consistently making a good profit on this practice trade account. Then, as a FX trader, you may open a live account.
Account Topics - Forex Lesson for New Traders
- Introductory Course Covering Different Types of Trading Accounts
- Using a Practice Account - A Forex Lesson for Beginners
- Initial Steps for Opening a Practice Demo Account
When you create a live account, trade according to your plan, and learn to manage emotions in forex trading by studying market psychology.
Market Psychology Tutorials
- Psychology of Traders
- FX Psychology and Emotions
- Trade Psychology Rules
- Market Psychology Principles & Guidelines 2
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