Binary option robot AGO: Forex trading tutorial for beginners pdf

Forex Trading Tutorial for Beginners.

Make Forex Trading Simple.

Annotation.

What is traded in Forex market? The answer is simple: currencies of various countries. All participants of the market buy one currency and pay another one for it. Each Forex trade is performed by different financial instruments, like currencies, metals, etc. Foreign Exchange market is boundless, with the daily turnover reaching trillions of dollars; transactions are made via Internet within seconds.

Major currencies are quoted against the U. S. dollar (USD). The first currency of the pair is called base currency and the second one - quoted. Currency pairs that do not include USD are called cross-rates.

Forex Market opens wide opportunities for newcomers to learn, communicate, and improve trading skills via the Internet.

This Forex tutorial is intended for providing thorough information about Forex trading and making it easy for the beginners to get involved.

Confirm the theory.

Forex trading Basics for Beginners: Market Participants, Advantages of Forex Market Currency Trading Features: Online forex trading techniques A Sample of Real Trade Analysis Methods Forex Guide: Top 5 Tips to Guide You.

Trading Forex.

Any activity in the financial market, such as trading Forex or analyzing the market requires knowledge and strong base. Anyone who leaves this in the hands of luck or chance, ends up with nothing, because trading online is not about luck, but it is about predicting the market and making right decisions at exact moments. Experienced traders use various methods to make predictions, such as technical indicators and other useful tools.

Nevertheless, it is quite difficult for a beginner, because there is a lack of practice. That is why we bring to their attention various materials about the market, trading Forex , technical indicators and so on so as they are able to use them in their future activities.

One of such books is “Make Forex trading simple” which is designed especially for those who have no understanding what the market is about and how to use it for speculations. Here they can find out who are the market participants, when and where everything takes place, check out the main trading instruments and see some trading example for visual memory. Additionally, it includes a section about technical and fundamental analysis, which is an essential trading part and is definitely needed for a good trading strategy.

© IFCMARKETS. CORP. 2006-2017 IFC Markets is a leading broker in the international financial markets which provides online Forex trading services, as well as future, index, stock and commodity CFDs. The company has steadily been working since 2006 serving its customers in 18 languages of 60 countries over the world, in full accordance with international standards of brokerage services.

Risk Warning Notice: Forex and CFD trading in OTC market involves significant risk and losses can exceed your investment.

IFC Markets does not provide services for United States and Japan residents.

FREE Forex Trading Guide (For Beginners) PDF.

Table of Contents.

Free Forex Training & Tutorials – PDF download.

In order to be successful in the Forex market, you need 1 of 2 things. 1.) To be a genius investor or 2.) To follow the right people, guides, training and tutorials. As I’m not a genius I learnt through the second method and decided to write this guide to help any aspiring forex traders to get started.

Define your trading schedule.

FX trading (mainly research) takes a considerable amount of your time (and money) in the beginning. You can be a part or full-time trader, depending on your current occupation and knowledge. The Forex market is open 24 hours a day and you can trade (almost) instantly with most online brokers.

Define your own trading style.

Even before you learn to trade, it’s important to set your goals according to your schedule. If you can trade for 5-10 hours a week don’t try to start with a 100% monthly ROI, as your risk is simply too high. Aim for small mini profits and build from there.

Forex trading consists of opening a series of independent trades that can remain open from minutes to months, decide which methods you will choose to target (and learn) as the methods of research and implementation are completely different.

Choose a reliable broker.

Probably my most important piece of advice on this ENTIRE BLOG . A broker (or platform) is going to be your main point of call to the forex market, and can also be the difference between a successful trading career and a broke individual.

If you haven’t done it yet, check out our list of the top 5 forex brokers.

Once you create an account with a broker and deposit you will be able to trade in the forex market using their tools. For this service, the broker will charge a fee, which is a tiny percentage of your funds, based on the amount of capital you use to open a trade. You shouldn’t even consider these fees in your calculations, because they’re so low when compared to the potential profits, than they can be rounded to zero in the long term. An example of competitive broker with low fees is eToro, which charges a variable fee of $0.01 or less daily for a trade of $40.

You should, however, take a look at the monthly growth of your account, with all profits minus collected fees and calculate if your broker is screwing you or not. Find a good broker that provides detailed reports of your monthly profit.

Equip yourself.

You need a reasonably powerful computer and/or a mobile device with Android or iPhone OS to access the Forex market. Some brokers offer you free software to install on your computer, like Oanda, while others offer you a web-browser-based platform, like eToro. Both of them offer mobile apps too. Mobile devices don’t really need to be powerful, just about any entry level phone will do, but a good, reliable device is suggested.

Open your account(s).

Go to your broker’s website and create an account. It’s a good idea to have your personal and banking documents at hand, which should be sent to the broker for verification purposes (a scan is usually fine). The Forex market is highly regulated by governments, and this protects your account and funds (more about that here).

Make your first deposit to fund your account using your credit card or other accepted means. Brokers usually accept bank wires, Skrill, WebMoney, paypal and other popular payment systems. Make sure to keep your account information, such as username and passwords, in a safe place. After setting up your account, let’s go :

The steps to trade | How to actually open trades.

The Forex market is massive 5 trillion dollars is traded EVERY DAY! That’s just an insane number to process, so before we go into technically opening a trade with you broker, let’s understand what a trade means. A Forex trade is “to use a portion of the funds of your account to purchase a small amount of a foreign currency”. Then, wait for that currency’s price to increase and finally, sell that currency at a higher price ( hopefully ). The final result is a small profit in your account. After repeating this process a number of times during a period of time, the accumulated profits are potentially higher than any other investing instrument has ever offered, making the Forex market one of the most lucrative business opportunities. But do remember trades can go down just as fast as they went up. So be careful guys!

To make things more interesting, your broker’s technology will provide you access to a large variety of currencies to buy and sell other than the base currency of your account. This means, if your account is in dollars, you will be able to make trades that involve both the euro and the Japanese yen. (We also have a learn forex trading in 30 days pdf guide if interested.)

A pair is expressed as three characters of a currency’s name, involving to currencies separated by a slash. EUR/USD, which is the most traded pair, is the price of the euro related to the US dollar.

All trades consist of buying or selling a specific pair . For example, if you believe next week the euro’s price will increase in relation to the dollar, you should buy the EUR/USD. If you believe the euro’s price will decrease, you should sell the EUR/USD. After a time of waiting for the price to change, you should close the transaction, and the profit will be added to your account. As stated before, you can make trades with virtually any pair; therefore you can buy and sell pairs such as:

EUR/JPY – Euro/Japanese yen.

GBP/JPY - Pound Sterling/Japanese Yen.

EUR/CHF – Euro/Swiss Franc.

This is how pairs will look on your broker’s platform:

Making profits: How to decide if you will buy or sell a pair.

The most crucial aspect of Forex trading, is to make the right choice. To buy or sell. In order to make that decision successfully, you should follow these steps, and remember closing a trade too early is as bad as losing money on a trade! And avoiding a trade you were going to make that ends up going down can be as good as making a profitable trade!

Manage your capital wisely . Professional traders usually use a small amount, about 1% of their capital per trade. The Forex market is leveraged, which means your broker will automatically lend you funds to increase the potential profits of your trading. Regardless of the leverage your broker offers you, you should use 1% to 2% of your capital to open one single trade, anything more than 5% and you are just gambling not investing! Profits should come by an accumulation of the profit of several trades. Don’t try to make one very profitable trade that involves all your funds, because any little movement against you would consume all your initial deposit. Use the correct forecast . The best way to make the right choice before trading is to analyze the economic conditions of the pair: read the news involving both countries, such as their central bank’s policy changes and macroeconomic data releases, but please don’t think this is all you need to do. Research is the number 1 most important task in a Forex trade. Once you learn HOW to analyse the news and predict the future price movement, you’ll be practising what is normally called fundamental analysis . A good way to start is to find an economic calendar using Google, which will show you the daily economic events worldwide with their time, forecast, and final result, for free . Learn technical analysis. Effective technical analysis tools are varied, such as Elliott Waves, Fibonacci analysis, Support and resistance, and chart patterns. There are many websites and books available on these subjects, which provide in-depth information on all these analytical tools. A Google search will take you to many websites that explain the use of these tools, but I would suggest investing in a few books. Take some time to familiarise yourself with your selected platform before trading . The broker will offer you software that shows you the charts of every pair’s price, plus dozens of technical analysis indicators. The most popular software, offered by many brokers, is Metatrader, which is also compatible with Robots, also referred to as expert advisors or EA, which are pieces of software that automatically generate profits and are a very good idea to make a profit before you even start your learning curve as market analyst. Open a few “test” trades – But avoid clicking the final OK button in the last moment. Play around with adding or removing technical indicators from the software’s chart, and predicting the price by fundamental and/or technical analysis. You can even open a demo account and trade with virtual money until you feel your strategy is profitable. Record your profits . Sounds like an obvious one, but many people forget to track effectively. Make a monthly report of your profits using your broker’s data. Set short, mid and long term goals and compare you real performance to the goals set, and then correct your trading accordingly. Social Trading . It can take years to master fundamental and technical analysis, but to be honest, they’re the only way to make a profit without any external help or information. However, there are a variety of ways to stand on the shoulders of experienced traders and make large profits before you actually learn to trade profitably. A very good way is to automate your trading trough social trading technology. Social trading is technology offered by some brokers such as eToro or Avatrade, which allows you to make large profits by automatically copying to your account the trades of experimented traders. By using social trading, by the time you make your first self-analysed trade you’ll already have a huge amount of accumulated profits. Forex signals . After making a profit by using social trading, you should practice opening your own trades. Forex signal providers are companies or softwares that offer you automated or manual ways to receive trade instructions from profitable , reputed experts.

As you can see, Forex trading offers huge potential to motivated investors. To get this guide in PDF format visit: web2pdfconvert/

Tom is the owner of Elite Forex Trading. A website that provides beginner tips, trainings, reviews and strategies to help newbies get started making money in the forex markets.

Forex Trading: A Beginner's Guide.

Forex is short for foreign exchange, but the actual asset class we are referring to is currencies. Foreign exchange is the act of changing one country's currency into another country's currency for a variety of reasons, usually for tourism or commerce. Due to the fact that business is global, there is a need to transact with other countries in their own particular currency.

After the accord at Bretton Woods in 1971, when currencies were allowed to float freely against one another, the values of individual currencies have varied, which has given rise to the need for foreign exchange services. This service has been taken up by commercial and investment banks on behalf of their clients, but it has simultaneously provided a speculative environment for trading one currency against another using the internet. (If you want to start trading forex, check out Forex Basics: Setting Up an Account. )

Forex as a Hedge.

Commercial enterprises doing business in foreign countries are at risk due to fluctuation in the currency value when they have to buy goods or services from or sell goods or services to another country. Hence, the foreign exchange markets provide a way to hedge the risk by fixing a rate at which the transaction will be concluded at some time in the future. To accomplish this, a trader can buy or sell currencies in the forward or swap markets, at which time the bank will lock in a rate so that the trader knows exactly what the exchange rate will be and thus mitigate his or her company's risk. To some extent, the futures market can also offer a means to hedge currency risk, depending on the size of the trade and the actual currency involved. The futures market is conducted in a centralized exchange and is less liquid than the forward markets, which are decentralized and exist within the interbank system throughout the world.

[ Traditional puts and calls are the most common options and hedging tools available to retail forex traders. Learn more about options, and how they apply to stocks, through taking Investopedia Academy's Options for Beginners course. ]

Forex as a Speculation.

Since there is constant fluctuation between the currency values of the various countries due to varying supply and demand factors, such as interest rates, trade flows, tourism, economic strength, geopolitical risk and so on, an opportunity exists to bet against these changing values by buying or selling one currency against another in the hopes that the currency you buy will gain in strength or that the currency you sell will weaken against its counterpart. (For addition reading, see Top 7 Questions About Currency Trading Answered .)

Currency as an Asset Class.

There are two distinct features to this class:

You can earn the interest rate differential between two currencies. You can gain value in the exchange rate.

Why We Can Trade Currencies.

Until the advent of the internet, currency trading was really limited to interbank activity on behalf of their clients. Gradually, the banks themselves set up proprietary desks to trade for their own accounts, and this was followed by large multinational corporations, hedge funds and high net worth individuals.

With the proliferation of the internet, a retail market aimed at individual traders has sprung up that provides easy access to the foreign exchange markets, either through the banks themselves or brokers making a secondary market. (For more on the basics of forex, check out 8 Basic Forex Market Concepts .)

Forex Risk.

Confusion exists about the risks involved in trading currencies. Much has been said about the interbank market being unregulated and therefore very risky due to a lack of oversight. This perception is not entirely true, though. A better approach to the discussion of risk would be to understand the differences between a decentralized market versus a centralized market and then determine where regulation would be appropriate.

The interbank market is made up of many banks trading with each other around the world. The banks themselves have to determine and accept sovereign risk and credit risk, and for this they have many internal auditing processes to keep them as safe as possible. The regulations are industry imposed for the sake and protection of each participating bank.

Since the market is made by each of the participating banks providing offers and bids for a particular currency, the market pricing mechanism is arrived at through supply and demand. Due to the huge flows within the system, it is almost impossible for any one rogue trader to influence the price of a currency. Indeed, in today's high-volume market, with between $2 trillion and $3 trillion being traded per day, even the central banks cannot move the market for any length of time without the full coordination and cooperation of other central banks. (For more on the interbank system, read The Foreign Exchange Interbank Market. )

Attempts are being made to create an Electronic Communication Network (ECN) to bring buyers and sellers into a centralized exchange so that pricing can be more transparent. This is a positive move for retail traders who will gain a benefit by seeing more competitive pricing and centralized liquidity. Banks of course do not have this issue and can, therefore, remain decentralized. Traders with direct access to the forex banks are also less exposed than those retail traders who deal with relatively small and unregulated forex brokers, which can and sometimes do re-quote prices and even trade against their own customers. It seems that the discussion of regulation has arisen because of the need to protect the unsophisticated retail trader who has been led to believe that trading forex is a surefire profit-making scheme. (See also: Why It's Important to Regulate Foreign Exchange .)

For the serious and somewhat educated retail trader, there is now the opportunity to open accounts at many of the major banks or the larger, more liquid brokers. As with any financial investment, it pays to remember the caveat emptor rule – "buyer beware!" (For more on the ECN and other exchanges, check out Getting to Know the Stock Exchanges .)

Pros and Cons of Trading Forex.

If you intend to trade currencies, in addition to the previous comments regarding broker risk, the pros and cons of trading forex are laid out as follows:

1. The forex markets are the largest in terms of volume traded in the world and therefore offer the most liquidity, thus making it easy to enter and exit a position in any of the major currencies within a fraction of a second.

2. As a result of the liquidity and ease with which a trader can enter or exit a trade, banks and/or brokers offer large leverage, which means that a trader can control quite large positions with relatively little money of their own. Leverage in the range of 100:1 is not uncommon. Of course, a trader must understand the use of leverage and the risks that leverage can impose on an account. Leverage has to be used judiciously and cautiously if it is to provide any benefits. A lack of understanding or wisdom in this regard can easily wipe out a trader's account. (For more on leverage, check out Forex Leverage: A Double-Edged Sword .)

3. Another advantage of the forex markets is the fact that they trade 24 hours around the clock, starting each day in Australia and ending in New York. The major centers are Sydney, Hong Kong, Singapore, Tokyo, Frankfurt, Paris, London and New York.

4. Trading currencies is a "macroeconomic" endeavor. A currency trader needs to have a big-picture understanding of the economies of the various countries and their inter-connectedness in order to grasp the fundamentals that drive currency values. For some, it is easier to focus on economic activity to make trading decisions than to understand the nuances and often closed environments that exist in the stock and futures markets where microeconomic activities need to be understood. Questions about a company's management skills, financial strengths, market opportunities and industry-specific knowledge are not necessary in forex trading. (Take a look at Economic Factors That Affect the Forex Market to learn more.)

[ One of the underlying tenets of technical analysis is that historical price action predicts future price action. Since the forex market is a 24-hour market, there tends to be a large amount of data that can be used to gauge future price movements. This makes it the perfect market for traders that use technical tools. If you want to learn more about technical analysis from one of the world's most widely followed technical analysts, check out Investopedia Academy's technical analysis course. ]

Two Ways to Approach the Forex Markets.

For most investors or traders with stock market experience, there has to be a shift in attitude to transition into or to add currencies as a further opportunity for diversification.

1. Currency trading has been promoted as an "active trader's" opportunity. This suits the brokers because it means they earn more spread when the trader is more active.

2. Currency trading is also promoted as leveraged trading, and therefore, it is easier for a trader to open an account with a small amount of money than is necessary for stock market trading.

Besides trading for a profit or yield, currency trading can be used to hedge a stock portfolio. If, for example, one builds a stock portfolio in a country where there is potential for the stock to increase value but there is downside risk in terms of the currency, for example in the U. S. in recent history, then a trader could own the stock portfolio and sell short the dollar against the Swiss franc or euro. In this way, the portfolio value will increase, and the negative effect of the declining dollar will be offset. This is true for those investors outside the U. S. who will eventually repatriate profits back to their own currencies. (For a better understanding of risk, read Understanding Forex Risk Management. )

With this profile in mind, opening a forex account and day trading or swing trading is most common. Traders can attempt to make extra cash utilizing the methods and approaches elucidated in many of the articles found elsewhere on this site and at brokers' or banks' websites.

A second approach to trading currencies is to understand the fundamentals and the longer-term benefits, when a currency is trending in a specific direction and is offering a positive interest differential that provides a return on the investment plus an appreciation in currency value. This type of trade is known as a "carry trade." For example, a trader can buy the Australian dollar against the Japanese yen. Upon the original publication of this article, the Japanese interest rate is .05% and the Australian interest rate last reported is 4.75%, so a trader can earn 4% on this trade. (For more, read The Fundamentals of Forex Fundamentals .)

However, such a positive interest needs to be seen in the context of the actual exchange rate of the AUD/JPY before an interest decision can be made. If the Australian dollar is strengthening against the yen, then it is appropriate to buy the AUD/JPY and to hold it in order to gain in both the currency appreciation and the interest yield.

Bottom Line.

For most traders, especially those with limited funds, day trading or swing trading for a few days at a time can be a good way to play the forex markets. For those with longer-term horizons and larger fund pools, a carry trade can be an appropriate alternative.

In both cases, traders must know how to use charts for timing their trades, since good timing is the essence of profitable trading. And in both cases, as in all other trading activities, the trader must know his or her own personality traits well enough so that he or she does not violate good trading habits with bad and impulsive behavior patterns. Let logic and good common sense prevail. Remember the old French proverb, "Fortune favors the well prepared mind!" (To determine what type of trading is best for you, see What Type of Forex Trader Are You? )

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INTRODUCTION TO FOREX TRADING – CHAPTERS & SYLLABUS.

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16 Comments Leave a Comment.

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воскресенье, 20 мая 2018 г.

Forex trading tutorial for beginners pdf

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