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There are many currencies in the world that you can Trade, but only focus on Trading Major Currencies because is cheap to trade them 8 Major and  most traded  currencies  (in no specific order) 1. U.S. Dollar (USD) 2. Canadian Dollar (CAD) 3. European (EUR) 4. Great British Pound (GBP) 5. Swiss franc (CHF) 6. New Zealand Dollar (NZD) 7. Australian Dollar (AUD)  8. Japanese Yen (JPY) Each Currency is named using the Three Character Symbols, Know these Currency Symbols USD, CAD, EUR, GBP, CHF, NZD, AUD, and JPY Currency Pairs Currencies are Traded in Pairs because you bet a value of a Currency against another currency For example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY). When you trade in the forex market, you buy or sell in currency pairs. The currency pairs listed below are considered the “majors.” These pairs all contain the U.S. dollar (USD) on one side and are the most frequently traded. Th...

Do not confuse NORMAL Banks with Liquidity Providers Banks. Normal banks are the one we are used to, they help us to make transactions locally and internationally and they are not directly involved in this speculation of Forex Trading Then there are Liquidity Providers Banks. this are banks that created Forex Trading, and they participate in forex trading to make money. They make money by making forex Traders Lose and Every Forex Trader should be aware of them because you wont Win until you understand how they work and how to Trade in Line with them. Truth. Only 5% of Traders in the world win in forex, then 95% lose. If you trade forex you must be will to be smart because it will be your war agaist Banks that want to take you money while you also want to take thier money How the forex Banks Work The banks will buy and sell the orders from Traders, then the Computer of the Banks is programmed in a way that it will go randomly hitting Stop Losses to make Traders lose, while Avoiding to H...

Forex Participant No One Actually owns forex, but companies, banks and other mega businesses with lot of money can cause currency value to go up or down because they can spent millions or billions in Foreign Exchange when they buy stock, ect. These companies buy and sell items and invest money across countries and cause currency to gain or lose value. However, Forex Participators can be Simplified into 3 groups. Which are Banks , Brokers and Us ( Retail Traders ). We do not include other companies because they buy though Banks, so the Banks represent all other companies, and the banks are the Ones who have high influence in forex because forex was created when Banking Computers Exchange Currencies when executing international transactions. Banks are many, every country has its Minor Banks and Major Reserve Bank that participates in forex to determine value of its country currency. As a result there's no One Bank that Controls Forex, all Major Banks are Having Major Influence In Fo...

This Forex Trading we do on our Personal Computers or Phones is also called Retail Trading or Speculation. Speculation means you guess (predict). Is Similar to betting. Here you use forex information to guess or predict the Next Direction Forex or Exchange Rates What is Forex Trading In Real Life people and companies buy items across countries, Demand and Supply goes up and Down, as a result Exchange Rates goes up and down, meaning value of a currency is also going up and down. NB Since Computers are Monitoring and determining the Currency Exchanges, the computers can draw  Chats that shows Areas where a Currency is likely to gain or lose value (Area where a currency can be demanded more or less, also area where exchange rates can go up or down). :) Therefore, when Retail Trader like me and you sees the Areas where Currency is likely to go up or down, is our Opportunity to Bet. If we chose right direction we win, if we chose wrong dicrection we lose, and we can control how much w...

Before we can understand Forex Trading, what it Forex?? forex is Just an Online  Market Forex also called ( foreign exchange market ,  FX , or  currency market ) is  an Online Market where you can Buy or Sell Currencies. The currency is the money that a particular country uses. Example Cindy is in South Africa, she buys a pair of shoes online from Vans Store in United States. The pair of shoes cost $ 20 in USA currency (Dollar) and Cindy buys with South African currency (Rand). For Cindy to be able to buy the shoes, her money has to be converted to dollars, in forex we say she buys dollars or Dollars are sold to Rands. Buy and Sell only means one currency is converted to another, this conversion is called Forex (foreign exchange) Forex happen online between Computerized Bank Accounts. Cindy buys $ 20 shoes through her Capitec Bank. The Computer of Capitec Bank will read Exchange Rates from Forex Computers and know how much Rands are Equivalent to $ 20 and convert the...

Before we go any further, we are going to be 100% honest with you and tell you the following before you consider trading currencies: 1. All forex traders, and we do mean ALL traders, LOSE money on some trades. Ninety percent of traders lose money, largely due to lack of planning, training, discipline, not having a trading edge and having poor money management rules. If you hate to lose or are a super perfectionist, you’ll also probably have a hard time adjusting to trading because all traders lose a trade at some point or another. 2. Trading forex is not for the unemployed, those on low incomes, are knee-deep in credit card debt or who can’t afford to pay their electricity bill or afford to eat. You should have at least $10,000 of trading capital (in a mini account) that you can afford to lose. Don’t expect to start an account with a few hundred dollars and expect to become a   gazillionaire . The forex market is one of the most popular markets for speculation, due to its enormous ...

In the past, spot forex was only traded in specific amounts called   lots,   or   basically the number of currency units you will buy or sell. The   standard   size for a lot is 100,000 units of currency, and now, there are also   mini,   micro , and   nano   lot sizes that are 10,000, 1,000, and 100 units. Some brokers show quantity in “lots”, while other brokers show the actual currency units. As you may already know, the change in a currency value relative to another is measured in “ pips ,” which is a very, very small percentage of a unit of currency’s value. To take advantage of this minute change in value, you need to trade large amounts of a particular currency in order to see any significant profit or loss. Let’s assume we will be using a 100,000 unit (standard) lot size. We will now recalculate some examples to see how it affects the pip value. USD/JPY at an exchange rate of 119.80:   (.01 / 119.80) x 100,000 = $8.34 per pip USD...

Here is where we’re going to do a little math. Just a little bit. You’ve probably heard of the terms “ pips ,” “ pipettes ,” and “ lots ” thrown around, and now we’re going to explain what they are and show you how their values are calculated. Take your time with this information, as it is required knowledge for all forex traders. Don’t even think about trading until you are comfortable with pip values and calculating profit and loss. What the heck is a Pip? The unit of measurement to express the change in value between two currencies is called a “pip.” If EUR/USD moves from 1.1050 to 1.1051, that .0001 USD rise in value is ONE PIP. A pip is usually the last decimal place of a price quote. Most pairs go out to 4 decimal places, but there are some exceptions like Japanese yen pairs (they go out to two decimal places). For example, for EUR/USD, it is   0.0001 , and for USD/JPY, it is   0.01 . What is a Pipette? There are forex brokers that quote currency pairs beyond the standar...

In the following examples, we are going to use fundamental analysis to help us decide whether to buy or sell a specific currency pair. Each currency belongs to a country (or region). So forex fundamental analysis focuses on the overall state of the country’s economy,  such as productivity, employment, manufacturing, international trade, and interest ratezzzzzzzz. Wake up! If you always fell asleep during your economics class or just flat out skipped economics class, don’t worry! We will cover fundamental analysis in a later lesson. But right now, try to pretend you know what’s going on… EUR/USD In this example, the euro is the base currency and thus the “basis” for the buy/sell. If you believe that the   U.S. economy   will continue to weaken, which is bad for the U.S. dollar, you would execute a   BUY   EUR/USD order. By doing so, you have bought euros in the expectation that they will rise versus the U.S. dollar. If you believe that the U.S. economy is strong ...