It is important to clearly understand how the Forex market works. In this lesson we will review all basic concepts about trading in the Forex market and you will learn, inside-out at what price point we buy and sell, how leverage works, when do you pay interest, how currency pairs are commonly quoted and much more.
This lesson is structured in the following way:
Section 1: The Very Basics – Basic stuff about the Forex market.
Section 2: Direct/Indirect and Base/Counter Currency Pairs – Have you ever wondered why the USD is sometimes the first quoted currency and why sometimes it is the second?
Section 3: Lots, Pips and Spreads – An easy way to calculate the pip value for every currency pair, why currencies have a spread and what is it there for as well as different trading sizes available for traders.
Section 4: Margin (Leverage) – This is one of the most important advantages of the forex market, you can’t afford not to know how it works.
Section 5: Rollover – Planning on taking trades for the long term? Read this section, you will learn which currency pair’s pay you interest on a daily basis (while your trade is open).
Section 6: Type of Orders – A must for all traders, different strategies require different ways to enter the market; here you will learn which type of order its better for different trading styles.
Good luck my friends!