About our Training
About our Foreign Exchange Course
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Professor FX-Bot here to explain our forex training course. Unlike other free Forex training courses, instead of bogging you down with details, I'm simply going to teach you trading strategies. Along with these strategies you will learn the specific tools you need to know in order to utilize each strategy. Then depending on which strategies you like, you can explore their nuances further. Forex Made Easy Right? |
Beginning traders can easily become confused by the number of possible ways to read the market with all the various technical analysis tools. So I've broken up each trading technique and I just teach you about a few basic technical indicators used in that particular technique. If you find a method that you absolutely love I encourage you to seek out other opinions on how it can be done, as well as other tools that help improve it. Mastering one trading strategy is the best way to make profit consistently, although I encourage you to learn a few different strategies so you can react to different market conditions. This will bring to the next level as a trader, and help you to discover your very own trading method. Each of the following strategies can be used by themselves, however, it is good to try trading in different ways as this will help you to flesh out your primary trading strategy.
| If you haven't already, you need to go sign up for free $50,000 forex pratice accounts. Zecco.com and Forex.com both use very simple and easy to learn trading platforms. These handy little accounts let you practice trading without any risk to actual money. Our practice exercises can either be done with live data or with historic data. It is sometimes much easier to find the trading signals you're looking for on historic chart rather than the live chart (such as Fibonacci retracements). You will need to trade for minimum of a month on a demo account before you ever try to use real money. if you try to trade real money before you are ready, you will be taking uncessesary risk. Many traders have "torpedoed" their accounts because they did not properly prepare themselves |
In our forex training course, you're going to learn how to trade by trading. Learn by doing, experience will always be the best teacher. Expect to do at least an hour of training per day. Doesn't matter when although some patterns are easier to recognize during periods of higher volatility like when New York and London share trading hours. It is perfectly acceptable and encouraged to simply watch the market. You DO NOT have to trade. Trading strategies should be used a minimum of 30 times each on your demo account. This is the only way you can truely understand and make the strategy yours.
Section 1: Forex Basics:
Introduction to Forex - If you already know how the forex market works, then you can skip this section
Traders Glossary - You must learn to talk the talk before you'll have meaningful communication with other traders or be able to understand an analysis.
Anatomy of a Currency - Learn the characteristics of each currency and how certain currency pairs react to specific events
Be a Robot - Mentality of a Winning Trader
Types of Traders - What are you looking for from the market? Find out which trading method is the most successful overall
Money Flows - What makes a currency increase or decrease in value from a fundamental stand point.
Section 2: Basic Strategies:
Japanese Candle Sticks - The most basic of trading strategies every trader absolutely needs to know this trading strategy. Learn about the ongoing battle between the bulls and the bears, and how japanese candlesticks keep record of this epic battle. As well as support (The Bull Stampede) and resistance (The Bear Cave)
Trend Following - Trend trading uses technical analysis such as moving averages, trendlines, and the average structural index to find uptrends and downtrends. Trend trading is one of the most basic and useful strategies for all three types traders.
Range Trading - What happens when a currency is in a range, trading between support and resistance? Learn about Range trading, Bollinger Bands, and Stochastics.
Fibonacci Levels - The magic numbers that everyone uses.
Multiple Time Frames - My favorite method. Used extensively by foreign exchange traders. Utilizes three time charts, each with a different tool, including moving averages, oscillators and candlesticks.
Section 3: Additional Strategies:
Breakout Trading - looks for violations of support and resistance. This is a very popular trading strategy. Provides good technical profit points and stop losses, uses dynamic trendlines, chart patterns, pivot points and Fibonacci retracement and moving averages.
Pivot Points - these are mathematically calculated levels using the previous days high low and close. I provide a free calculator here because you don't need to know the formulas just yet.
Pattern Trading - concentrates heavily on price formations including triangles, flags, pennants and wedges, rectangles and had shoulder patterns. This type of trading looks for breakouts and reversals using common patterns found in trading charts.
Elliott Wave - this is a charting theory that currencies follow very specific 5/3 patterns. Trading according to this theory is about properly identifying market reversals.
News Trading - Closely follow the news to trade on the volatility that occurs with each release. Depends almost entirely on fundamental analysis.and is the riskiest but most potentially rewarding trading technique. Not recommended for beginners
Interest Carry Trading - One of the few long-term strategies, which utilizes the difference in interest rates between two currencies to make money on the daily basis.
Point and Figure - an extremely old-school method, that uses a unique chart to provides excellent indications of support and resistance
