Research the best ways to trade the currency Market. This is one Basic Forex Trading Guide, Forex is the biggest financial market in the world. It is bigger than the US stock market, because the daily turnover has now exceeded 7 Trillion US dollars.
Understand currencies and price fluctuations. The other Basic Forex Trading Guide is learn about currency market moves, currencies are transacted in pairs. Choose a single pair and learn how to trade it until you get to know how that pair moves. The best pair is the EURUSD. Other good pairs are GBPUSD, USDCHF and USDJPY. These four pair make up 160% of all online transactions. Since 2 currencies are in a pair the total is 200%.
Basic Forex Trading Guide Tutorials - About Currency Pairs Tutorials
- Currency Market Participants
- Major Forex Currency Pairs
- Currency Pair Names
- Advantages of Forex Trading
- Interpreting Forex Currency Quotes
Get a charting package which allows you to see the current price as it happens and make technical analysis. The most popular trading software is MetaTrader 4 Platform.Its easy to use, chart are well presented and the software has multiple technical analysis tools for a trader to choose from. The platform/software displays forex trading charts on the computer screen: the charts show the current buy and sell prices of the various Forex pairs. The trading software helps you keep track of your funds and how the pair which you bought or sold is doing.
Basic Forex Trading Guide Tutorials - Forex Platform
The screenshot below shows the user interface of the MT4 Platform.
Basic Forex Trading Guide Tutorials About MetaTrader 4 Platform
Learn a basic Forex Trading Guide system which gives you an indication of when to enter and when to exit trades. Following the markets price action is a popular method that professional investors have been using for over a hundred years before charts. Candlestick patterns, trading indicators and trading systems can also be used. All these methods are discussed in detail on tradeforextrading.com.
Basic Forex Trading Guide Tutorials - Forex Trading Systems
- Trading Forex Market Systems
- Create a Forex Trading System
- Writing Forex Trading System Rules
- Generating Forex Trading Signals
- Tips for Forex Trading Systems
- Writing a Forex Trading Journal
- Writing a Forex Trading Plan
- Stochastic Forex Trading System
- Moving Average Crossover Trading System
A good Basic Forex Trading Guide System uses the Technical Indicators below:
Please Read Them Before Creating Your Forex Trading System
- RSI Indicator
- Stochastic Oscillator
- Moving Average
- Parabolic SAR
- MACD Indicator
- Bollinger Bands
- ADX Indicator
Example of a Forex Trading System
Basic Forex Trading Guide System
Start with a demo account before trading with real money. First start learning about Basic Forex Trading Guide byopening a demo practice account and practice with this demo account, until you get to understand how the foreign market works and when you are confident and consistently making good profit on your forex trading demo account then you can open a live account.
Basic Forex Trading Guide Tutorials - Forex Account Topics
- Types of Forex Accounts
- Practice Forex Demo Trading Accounts
- Opening a Practice Forex Trading Demo Account
When you open a live Forex Trading account, trade with your forex trading plan and learn how to manage the emotions in forex trading by learning about market Psychology.
Basic Forex Trading Guide Tutorials - Forex Market Psychology Topics