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BASICS OF FOREX TRADING

By Muhammed Akingbade Uncategorized
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About Course

You will learn how the market works, key terms, currency pairs, trading strategies, technical and fundamental analysis, risk management, and how to use trading platforms effectively.

What Will You Learn?

  • You will learn the basics of Forex, including how the market operates, currency pairs, trading sessions, and key terminologies. It covers risk management, leverage, and margin concepts, as well as how to read Forex charts and use basic analysis for trading decisions.

Course Content

UNDERSTANDING CURRENCY PAIRS
Currency pairs represent the exchange rate between two currencies, with the first being the base and the second the quote. Major pairs include USD, minors exclude USD, and exotics involve smaller economies. Traders profit from rate fluctuations.

  • UNDERSTANDING CURRENCY PAIRS
    00:00

WHAT IS TRADED ON FOREX
In Forex, currencies are traded in pairs, such as EUR/USD or GBP/JPY. Participants buy one currency while selling another to profit from changes in exchange rates. Major, minor, and exotic currency pairs are the primary assets, along with derivatives like futures, options, and swaps.

TRADING TIME AND TRADING SESSIONS
Forex trading operates 24 hours a day, five days a week, due to the global nature of the market. Trading is divided into four major sessions based on global financial centers: Sydney (Asian Session): 10:00 PM to 7:00 AM GMT Tokyo (Asian Session): 12:00 AM to 9:00 AM GMT London (European Session): 7:00 AM to 4:00 PM GMT New York (North American Session): 12:00 PM to 9:00 PM GMT The most active trading occurs when two sessions overlap, such as during the London-New York overlap, which creates higher volatility and liquidity.

TECHNICAL ANALYSIS
Technical analysis in Forex involves studying price charts, patterns, and indicators to predict future market movements. It focuses on historical price data, trading volumes, and trends rather than fundamental factors. Key tools include moving averages, RSI, MACD, and support/resistance levels, helping traders identify entry and exit points.

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JO
Joshua Ojo
2 months ago
A well detailed explanation...99% recommendable for beginners 💯📉📈

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