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Forex trading for beginners can be especially tough. This is mostly due to unrealistic expectations that are common among Forex newcomers. What you need to know is that Forex trading is by no means a get-rich-quick scheme. This App is our ultimate guide to Forex trading for beginners. On this page, you will receive an introduction to the Forex market, how it works, and key terminology, along with the benefits of trading Forex.
In this app we will cover How to Trade Forex, the fundamentals of risk management, the different ways you can analyse the Forex market, and an overview of the most popular Forex trading strategies. By the end of this guide, you will have the knowledge you need to start testing your trading skills.
What is Forex?
Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The Forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. All the world's combined stock markets don't even come close to this. But what does that mean to you? Take a closer look at Forex trading and you may find some exciting trading opportunities unavailable with other investments.
Why Learn Forex Trading: Advantages Of Forex Trading
There are many benefits and advantages of Forex trading for Beginners. Here are just a few reasons why so many people are choosing Forex Trading:
No commissions Forex Trading
No clearing fees, no exchange fees, no government fees, no brokerage fees. Most retail brokers are compensated for their services through something called the “bid/ask spread“.
No middlemen in Forex Trading
Spot currency trading eliminates the middlemen and allows you to trade directly with the market responsible for the pricing on a particular currency pair.
No fixed lot size in Forex Trading
In spot Forex, you determine your own lot, or position size. This allows traders to participate with accounts as small as $25.
Forex Trading is a 24-hour market
There is no waiting for the opening bell. From the Monday morning opening in Australia to the afternoon close in New York, the forex market never sleeps. This is awesome for those who want to trade on a part-time basis because you can choose when you want to trade: morning, noon, night, during breakfast, or in your sleep.
No one can corner the market in Forex Trading
The foreign exchange market is so huge and has so many participants that no single entity can control the market price for an extended period of time.
Low Barriers to Entry
You would think that getting started as a currency trader would cost a ton of money. The fact is, when compared to trading stocks, options or futures, it doesn’t. Online forex brokers offer “mini” and “micro” trading accounts, some with a minimum account deposit of $25.
Topics Included in this App
1- Introduction to Forex Trading to Beginner
2- The Structure of the Forex Market
3- Major Currencies & Trade System
4- Market Analysis in Forex Trading
5- Type of Foreign Exchange Market
6- Benefits of Forex Trading
7- Fundamental Market Forces
8- Technical Indicators in Forex Trading
9- Pattern Study of Trends
10- Technical Strategy in Price Patterns
11- Oscillator Divergences
12- The Role of Inflation in Forex Trading
13- The Commodity Connection
14- Position Money Management
15- Foreign Exchange Risks
16- Trading Rules
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