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Forex Education

The " Basic Forex Education " section introduces the basics of online forex trading. If you are a novice trader, then you should start from here before proceeding to other sections of the Forex education. It is crucial to learn the concepts of foreign exchange trading before striding into the more advanced Forex tutorial sections. Learning the foundation of Forex will not only help you understand how forex trading is derived, but also give you a macro view of the Forex market when it comes to decision making in Forex trading. Therefore, do not ignore them. Take some time and read thoroughly. Find out why Forex market is the largest market in the world with many participants and daily trading volume well exceeds 1.9 trillion U.S. dollars.

In this section, you will learn the Forex trading history, the concept of Forex trading, margin and rollover, Forex glossary, how to select a Forex broker and take a Forex quiz to test your knowledge in Forex trading.

FREE

Reading Forex Charts

Charts are very important in trading. Currency trading is not an exception. A good chart reader can have an overview of market and its trend. Many time intervals can be applied to analyze the current price actions and future price movement. There are monthly charts, daily charts, hourly charts, minutely charts, secondly charts and tick charts. In additional to various time intervals, there are different types of charts: bar chart, candle stick chart, renko chart, point and figure chart. Traders can select a specific chart to suit his or her particular trading style. To further interpret charts, mathematicians and economists developed many studies that can be applied to set parameters on chart interpretation.

In this section, we will teach you how to read and interpret some widely used chart types

FREE

Forex Fundamental Analysis

A fundamental trading strategy consists of strategic assessments in which a certain currency is traded based on virtually any criteria excluding the price action. These criteria include, but are not limited to, the economic condition that the country the currency represents, monetary policy, and other elements that are fundamental to economies.

The focus of fundamental analysis lies on the economic, social and political forces that drive supply and demand. There is no single set of beliefs that guide fundamental analysis, yet most fundamental analysts look at various macroeconomic indicators such as economic growth rates, interest rates, inflation, and unemployment. Several theories prevail as to how currencies should be valued.

Alone, fundamental analysis can be stressful when dealing with commodities, currencies and other "margined" products. The reason for this is that often fundamental analysis does not provide specific entry and exit points, and therefore it can be difficult for risk to be controlled when utilizing leverage techniques.

Currency prices are a reflection of the balance between supply and demand for currencies. Interest rates and the overall strength of the economy are the two primary factors that affect supply and demand. Economic indicators (for example, GDP, foreign investment and the trade balance) reflect the overall health of an economy. Therefore, they are responsible for the underlying changes in supply and demand for that currency. A tremendous amount of data is released at regular intervals, and some of this data is significant. Data that is related to interest rates and international trade is analyzed very closely.

FREE

Forex Technical Analysis

One of the first things you'll ever hear in technical analysis is the following motto: "the trend is your friend". Finding the prevailing trend will help you become aware of the overall market direction and offer you better visibility--especially when shorter-term movements tend to clutter the picture. Weekly and monthly charts are most ideally suited for identifying that longer-term trend. Once you have found the overall trend, you could select the trend of the time horizon in which you wish to trade. Thus, you could effectively buy on the dips during rising trends, and sell the rallies during downward trends.

Probably the most successful and most utilized means of making decisions and analyzing forex and commodities markets is Technical Analysis.

The difference between forex technical and forex fundamental analyses is that forex technical analysis ignores fundamental factors and is applied only to the price action of the market. In that fundamental data can often only provide a long-term forecast of exchange rate movements, forex technical analysis has become the primary tool to successfully analyze and trade shorter-term price movements, as well as to set profit targets and stop loss.

Forex technical analysis primarily consists of a variety of forex technical studies, each of which can be interpreted to predict market direction or to generate buy and sell signals. For a detailed description of these studies and their uses, please see our Technical Studies page.

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