Forex Basics




  • Course code
    172-4-121
  • Cost
  • Start Date
  • Duration
    Introduction

    *1. THE INTRODUCTION* In this introductory part of the class, the aim is to explain what forex trading is to you. It assumes you are a newbie and goes a long way to clear up all the misconceptions you have consciously or uncounciously learnt about forex. Hence, it will put you on the right path. By the end, you will get introduced to the METATRADER 4 application used for trading on both your mobile phones and your PC.


    • 1.

      What is Forex?

      This is the topic objectives

    • 2.

      Who is a Forex Broker?

      This is the topic objectives

    • 3.

      Trading Session and Time

      This is the topic objectives

    • 4.

      Various forms of Trading

      This is the topic objectives

    • 5.

      What are currency pairs?

      This is the topic objectives

    • 6.

      MT4 App Navigation

      This is the topic objectives

    Fundamental Concepts

    *2. FUNDAMENTAL CONCEPTS* This stage of the class is the cell of forex. If you miss these basics, you might be lost on the whole class. Here, you will be fully initiated into the world of forex. Alot of terms and concepts would be revealed to you which would determine your overall success as a forex trader. These concepts are very basic and cannot be overemphasized.


    • 1.

      Concept of PIP

      This is the topic objectives

    • 2.

      Meaning of Bid and Ask Price

      This is the topic objectives

    • 3.

      The concept of Spread

      This is the topic objectives

    • 4.

      Introduction to Timeframe

      This is the topic objectives

    • 5.

      Types of Forex Traders

      This is the topic objectives

    • 6.

      Take Profit and Stop Loss

      This is the topic objectives

    • 7.

      Lot Size and Leverage

      This is the topic objectives

    • 8.

      Risk Management

      This is the topic objectives

    • 9.

      Mistakes Commonly made by Traders

      This is the topic objectives

    • 10.

      Trading Plan

      This is the topic objectives

    • 11.

      Navigating MT4 APP 2

      This is the topic objectives

    Indicators

    *3. INDICATORS* Indicators are a very essential tool for technical analysis in forex. They help you know when to take a trade and when not to. You will be taught the use of so many indicators and given the chance to choose the ones that work best for you. You will be shown some practical trades done with these indicators and the potential profit they could yield.