Forex Trading lessons

Lesson 7: Summary of Forex terms we have learnt so far

I think we’ve done enough maths for one day!

Let’s now round up some commonly used forex phrases and what they mean in the world of Forex.

Major and Minor currencies:
The eight most commonly traded currencies are the GBP (Great British Pound) USD (US Dollar) EUR (The Euro), JPY (Japanese Yen), CHF (Swiss Franc), CAD (Canadian Dollar), NZD (New Zealand Dollar) and…

Lesson 8: Forex Orders

It doesn’t matter how much you love trading forex, it is impossible to sit in front of a computer staring at graphs and exchange rates all day. You also have a life to lead. To make sure you don’t risk your relationship, or miss that important footie match, there are several pre-programmed “orders” which you can place on your account…

Lesson 9: Using a demo account

First and foremost- It is ESSENTIAL that you start your trading career with a practice or demo account. This is the best way of learning how to trade forex with the freedom to make mistakes and most of all learn from them, completely risk free. This is because Mr Wolf of the street, you are using virtual money and not…

Lesson 10: Some facts about Forex Trading

Some simple facts to get your head around:
All traders lose money on trades.
It’s the old footballing adage, “you can’t win em’ all” and the same applies to trading. Even the most experienced traders have periods where they lose money or have bad luck on trades. The volatility of the currency markets, some unexpected news from a far off land, or…

Lesson 11: Types of Forex Broker and why they exist

What does a broker do?
In order to even begin trading forex through a demo account you must be assigned to a Forex broker. Brokers are agents who give you bid and ask prices for different currency trades, look after your accounts and provide you with virtual money in order to trade with in the shape of leverage ratios.

How did Brokers come about?
In the…

Lesson 12- Which forex broker should I choose?

 

 

The type of broker you choose is entirely down to you. Essentially they all do the same thing, facilitate trades, but each type have different ways of going about it. One is not better than the other and you have to decide which type suits your style of trading. Below are seven major things you should consider when choosing a…

Discolsure

This website is for educational purposes only. We do not give financial advice or receive commissions from brokers. We aim to be as ethical as possible and offer general information on Forex only.

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