The forex market is the most liquid financial market in the world and you can obtain a price quote at any time twenty four hours a day. Since the advent of the high speed internet trading currencies, commodities, stocks and indices is just a mouse click away. There are no commissions or middlemen to reduce your profit potential so it is little wonder that online trading has been growing rapidly. To trade successfully you must get a good forex education and learn how to trade forex. Our online trading academy will give you all the skills and tips you need to become an accomplished forex trader.

How do I start?

The History of Forex

As economies grew after the war the supply of dollars in Europe was soon worth more than the amount of gold in the USA. In August 1971 due to the pressure on the dollar convertibility into gold was suspended by President Nixon and the German Mark was allowed to revalue. The era of fixed exchange rates was ended and the era of floating exchange rates as we know it had begun and now the forex market generates a turnover of four trillion dollars each day.

What are Currency Codes?

Every currency that is traded has a designated three letter currency code. For example the sterling pound currency code is GBP and the United States dollar currency code is USD.

What are the Major Currency Pairs, Commodities and Indices?

One of the fundamental concepts you need to understand in order to learn forex trading is that currencies are traded in pairs and not individually. The four currency pairs with the highest daily volume are the euro/dollar (EUR/USD), dollar/Japanese yen (USD/JPY), the sterling pound/ dollar (GBP/USD) and the dollar/Swiss franc (USD/CHF). The highest traded daily volume commodities are gold, silver and oil. The major indices are the Dow Jones Industrial Average, the Standard and Poor’s 500 and the NASDAQ.

What are Pips and Spread?

How do I Read Charts?

The most commonly used charts for forex and other asset classes are candlestick charts and as you learn fx trading your personal trading coach will teach you how to use these charts to their fullest advantage. Essentially, a chart shows an assets price at a specific point in time as well as showing the volume traded.

What Types of Trading Orders are there?

Part of learning forex trading is knowing the different types of orders to control a trade, maximize profits and minimize risk.

If you have entered a trade with a buy order then the trade will be exited with a sell order. The opposite is true if you enter a trade with a sell order.

Market orders are orders to buy or sell a contract at the most recent best price, whatever that price is.

Limit orders are orders to sell or buy a contract at a specified price or at a price better than the specific price.

Stop orders are orders to your broker to exit your trade when your loss reaches a predetermined level.

Finally, the take profit order is an order to your broker to exit your trade when your profit reaches a predetermined level.