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For Beginners

The best and most useful information for beginners. After reading this section you will learn how to set terminal for trading on the market, meet Forex phrases, and also find out it's secrets. You should pay special attention to the articles related to the questions on correct Forex trading.

Lesson 9: Key secret of Forex market
CategoryFor Beginners

 

To achieve success, you don’t need to know any secrets. Success is a logical outcome of effective work, dedication, self-discipline, and practice. So the key secret to being a successful trader on Forex is working hard and improving your skills. There are no holy grails or universal rules of success that would work perfectly for every trader. The point is there is a vast variety of market rules. Many traders know these rules yet most still ignore them. Why does it happen? I believe you would know the answer after you read this article. 

Lesson 8: Psychological portrait of a successful trader
CategoryFor Beginners

Dear friends, today, I would like to make a psychological portrait of a successful trader and find out which character traits every ambitious newbie should have. But at first, I’d like to point to the traits that hold us back and even cause significant harm.

Fear is the oldest and the strongest emotion of mankind. For centuries people have been afraid of natural phenomena, famine, wars, death etc.

Lesson 7 How to launch trading career
CategoryFor Beginners

Dear friends,

In Lesson 5 Introduction to Forex and first steps of trader, you got to know the project of starting a trading career suggested by most dealing centers and brokerage firms. Besides, I told you about my unsuccessful launch on Forex. Nowadays, resting on my personal experience, I’d like to offer you my own version of developing a trading career. 

Lesson 6: What is Trading?
CategoryFor Beginners

Trading is a process of selling or buying financial options, futures, currencies or shares in order to make profits. A profit is a difference between buy and sell prices.

 

Earlier stock trading was available only to financial institutions and stock exchange speculators, but now anyone willing can give it a try. Nowadays, there is a myriad of individual traders able to carry out transactions in the currency market. Due to the Internet and easy access to trading platforms, trading becomes more and more common activity annually.

Lesson 5: First steps of novice trader, or discovering Forex
CategoryFor Beginners

“How to trade on Forex?” This is the question I was asking a few years ago attracted by exciting prospects promised in a broker’s ad. According to the company’s representatives, to start trading, you should do these simple steps:
1.Download a platform.
2.Open an account.
3.Complete a 2-week educational course.
4.Deposit funds to the account.
5.Start trading.

Lesson 4: How to trade on Forex
CategoryFor Beginners

 

To learn the basics of Forex trading, you need to take training courses, read many articles on currency trading or books written by experienced traders. Choose any option. After getting the needed information, you will have a basic understanding of what Forex is and how to trade on the market. Then you can open a demo account and start trading. Of course, you won’t get rich overnight as this is impossible without lots of efforts and patience.  

Lesson 3: How to make money on Forex
CategoryFor Beginners

 

If you search the web for ways of earning money on Forex, you’ll find lots of controversial information. Some traders, who have apparently tried – and failed, tend to claim that Forex is a scam. Others view foreign exchange trading as a source of basic or additional income. The difference between these two viewpoints lies in the attitude to trading. Are you here to make money or simply to play? If you consider yourself a money-motivated person, this article might be helpful to you. So the points below with pros and cons are my answer to the question I’ve put in the title, i.e. “How to make money on Forex?”

Lesson 2: Key forex terms
CategoryFor Beginners

I’ve received a lot of requests to tell about forex terms I use in my articles. Though I try to put it simply and write in layman’s terms, sometimes I resort to trader’s terms. For example, when a car mechanic diagnoses a trouble with a cardan drive shaft, they will definitely tell you so rather than saying there is a trouble with a detail coupling a gearbox and wheels. Usually, only another car mechanic will understand them.

Lesson 1: What is Forex?
CategoryFor Beginners

Forex is an acronym for FOReign Exchange, an interbank exchange market, where currencies are traded at free prices. Forex emerged in 1971 after US President Richard Nixon undertook a series of economic actions that basically led to the abolishment of the Bretton Woods system. This system was developed after World War II in order to regulate commercial and financial relations between capitalist countries. 

At the Bretton Woods conference in 1944, delegates from 44 nations agreed upon new rules for the international monetary system. The new standards included

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