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Forex lesson 1 forex overview

Forex Lesson for beginners

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Forex Tips & Trading Strategy For You
Forex Lesson 1:
Forex Overview
What is forex?
• The Foreign Exchange market, also
called forex.
• Forex is global currency trading market. ...
• FOREX happen when one currency is
exchanged for another.
• The single most important thing on
the forex market is the exchange rate between
two currencies
How Do You Trade Forex
• In the forex market, think of money as a
commodity, you are buying a currency hoping
that its value will increase, and if you
are selling you are betting that it will decrease. ...
• Let say, you buy gold with price of 1 dollar. Then
tomorow, price increase to 5 dollar. Then You sell
it, you gain 4 dollar from it.
• That is how forex works, you buy with low price,
sell at the high price.
What is pip?
• A pip is a very small measure of change in a
currency pair in the forex market. ...
• pip is a standardized unit and is the smallest
amount by which a currency quote can
change, which is usually $0.0001 for U.S.-
dollar related currency pairs,
• which is more commonly referred to as
1/100th of 1%, or one basis point.
buy
1.1630 -1.1500 = 0.0130
130pips

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Forex lesson 1 forex overview

  • 1. Forex Tips & Trading Strategy For You
  • 3. What is forex? • The Foreign Exchange market, also called forex. • Forex is global currency trading market. ... • FOREX happen when one currency is exchanged for another. • The single most important thing on the forex market is the exchange rate between two currencies
  • 4. How Do You Trade Forex • In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease. ... • Let say, you buy gold with price of 1 dollar. Then tomorow, price increase to 5 dollar. Then You sell it, you gain 4 dollar from it. • That is how forex works, you buy with low price, sell at the high price.
  • 5. What is pip? • A pip is a very small measure of change in a currency pair in the forex market. ... • pip is a standardized unit and is the smallest amount by which a currency quote can change, which is usually $0.0001 for U.S.- dollar related currency pairs, • which is more commonly referred to as 1/100th of 1%, or one basis point.
  • 6. buy 1.1630 -1.1500 = 0.0130 130pips
  • 7. Forex Quotes USD/JPY 89.29/89.32 Base Currency Always have value of 1 Quote Currency Bid Price is the price That you sell the base currency Ask Price is the price That you would buy the base currency
  • 8. Forex Players • Banks • Large Commercial Companies • Goverments And Central Banks • The Speculators
  • 9. Forex Broker • Firms that provide currency traders with access to a trading platform that allows them to buy and sell foreign currencies. • A currency trading broker, also known as a retail forex broker, or forex broker, • handles a very small portion of the volume of the overall foreign exchange market.
  • 14. How To Choose Forex Broker 8 Things To Know Before Choosing Forex Broker 1. Regulations 2. Capitalization 3. Segregation of Funds 4. Comission / Spreads 5. Deposit/ Withdawal 6. Mininum Deposit 7. Account Type 8. Customer Service
  • 16. What Pair To Use? • Major Pair – EURUSD – GBPUSD – AUDUSD – NZDUSD • Cross Pair – EURJPY – GBPJPY – AUDJPY – NZDJPY
  • 18. Pending Order • Market Execution • Buy Stop • Sell Stop • Buy Limit • Sell Limit Buy Sell
  • 19. Market execution use to do market order instantly
  • 21. Buy Stop -Order place above price and price keeps going up
  • 22. • Buy Limit • Order place below price and price then goes up
  • 23. • Sell Stop • Order placed below price and price keeps going down
  • 24. • Sell Limit • Order placed above price and price goes down
  • 27. 5 Step to trade forex • Education • Demo • Practice • Real Account • Keep Learning
  • 28. Forex Failure • No forex education • Greedy • Lack of practice • No Trading Plan
  • 29. visit