FX Leader's Forex Learning Center is designed for newcomers and first-time traders who want to learn Forex quickly and in the most efficient way. Read the following articles on Forex trading basics, Forex brokers, and trading strategies and tips to become expert Forex traders!
Follow these steps to Learn Forex and become a Trading Expert:
Introduction to Forex
In this article, you will be introduced to the largest and most liquid market in the world – the Forex Market. The main purpose of the FX Leaders' introduction center is to help you learn Forex and become a successful and profitable trader. Whether you're a professional trader, a beginner or in it for the fun – we can help carry out your goals.
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Forex Trading Basics
Here you'll learn the basic terminology to be a successful Forex trader. To begin learning Forex, you'll need to have a good grasp on the basic definitions, rules and terms used by professional traders. At first, this can sound daunting but after we spell out the fundamentals, it will become clearer and you'll be on your way to becoming a Forex trader. We will cover terms, such as; base currency, the quote currency, micro lots, mini lots, standard lots, long position, short position, pips, spread, margin and many more.
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Choosing the Best Forex Broker
In order to start trading Forex you will need to find the right online Forex broker for you. There's no need to talk to your banker, or hire investing consultants. It's important to find the right Forex broker for your trading needs according to several important criteria, such as; security, customer service, trading platform, transaction costs, live quotes and more. While reading our guide on how to choose the best Forex broker, you will learn the factors you should consider when choosing a broker, as well as a few simple steps to take in order to start trading.
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How to Open a Trading Account
In order to start trading, you will need to open a trading account with an online Forex broker. This is very simple and takes a few minutes. In most cases opening a trading account involves 3 simple steps:
- Sign up for a free account.
- Fill in your personal information.
- Fund your account.
Read more on how to open a Forex trading account
Forex Trading Strategies
Strategy is one of the most important things to focus on when learning Forex because it's also one of the most common mistakes new traders make. In order to become profitable, you'll need to devise a solid Forex trading strategy. The surprise is that this is not hard at all. On the “Forex Trading Strategies” page you will find key trading strategies that will allow you to take your Forex trading to a more professional and analytical level. The methods shown are easy to understand and simple to implement.
These strategies include:
Support and Resistance - The big advantage of support and resistance levels is that they can be easily distinguished. An upper blockage, appearing at the end of a bullish trend, is a resistance point. A lower blockage, appearing at the end of a bearish trend, is a support point. The barriers caused by the resistance and support levels do not last forever, therefore one needs to determine which levels to trust and which have a high probability of breaking.
Fibonacci Indicator - This method relies on what is called a ‘Pullback’, in order to implement it ones needs to be able to recognize trends. The trend is made of several parts, and if one of the parts goes down, it's called a Pullback, although it can also be a reversal of the trend and it's not easy to determine which is correct. This technique relies on the Fibonacci numbers and ratios to make a decision.
Multiple Time Frames - This strategy works by following a single currency pair over different time frames. By looking at the different time frames we can see changes and patterns, which enable us to see the bigger picture and a much larger bullish trend.
Find out more about these and other popular strategies to maximize your profits!
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Follow the Experts
FX Leaders' Forex signals analyze the market to find trading opportunities. This service, which is free and easy, enables you to have a greater profit potential as well as shows you the Forex trading strategies our experts use on a daily basis. FX Leaders Forex signals are clearly the most popular trading strategy for our followers.
Read more about how Forex signals work and how to use them in your strategy
Trade Forex like a Pro
When learning Forex you will see that it is easier than it seems at first. Anyone can learn Forex and trade like a pro. We're not saying that it's a piece of cake, but if you go through the training, learn the Forex fundamentals and keep ahead of the market news, you can make it work.
We recommend opening a demo account and practicing on it for before you actually start trading, it will give you the chance to test the platform you’ll be trading on. We also recommend using technical tools such as indicators and analysis, although there are some basics to learn before using these tools.
We, at FX Leaders, created the most professional Forex Trading Course available today. We offer simple courses that include all the tools and information you'll need to learn Forex and become a professional trader.
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Why wait until you are a pro to start trading Forex? You can simply copy an expert trader. Social trading has turned Forex trading into a social practice and changed the way investing and trading works online. To use social trading you don't need to have trading experience or knowledge at all, you only need to open an account, observe fellow traders, follow and copy them. This method enables you to identify experts and replicate their winning moves. Social trading allows you to share tips and ideas with other traders and take advantage of other traders' experience and expertise.
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Why Trade FX
There is no doubt the Foreign Exchange Market has become the most traded market in the world. Why? There are countless reasons to trade Forex online, for example:
- The daily volume of the Forex market is huge, making it very stable compared to the stock market.
- Forex trading simplifies everything, there are no clearing fees, no exchange fees, no government fees, no brokerage fees and no middlemen.
- The retail bargain cost in Forex trading is usually less than 0.1%.
- The Forex market is open 24 hour a day, so you can choose the times that are convenient for you to trade.
- Online Forex brokers have "mini" and "micro" options and some of them have a minimum of only 25$, which is great for Forex beginners.
These reasons are huge advantages for this enormous market over the other big volume markets such as stocks and futures.
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For further reading we have the Forex Tutorial page. So far we've covered the Forex trading basics: what is Forex, basic terminology, Forex trading strategies and terms like volatility, spreads, margin and leverage. But of course there is more.
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Get practical Forex tips that will help you with your trading. Getting the hang of Forex trading takes time. Getting practical tips from experts and people who have already learned how the market operates will increase your understanding of how Forex trading works significantly.
Our Forex tips include:
- Goals defining - before making a plan, you have to know what your goal is. Once you decide, you can choose the trading style that will help you achieve your goal.
- Be consistent - choose a methodology, stick to it and make sure it's adaptive.
- Choose the right time frames - it's easy to get confused between weekly and daily Forex charts, make sure you synchronize and look at both to confirm trades.
More Forex tips here
Forex risk management is your lifeline when trading in the Forex market. Without proper risk management even professional traders can fail. Risk management is the merger of ideas to control the trading risk.
There are several ways of conducting Forex risk management, among them are:
- Loss control - knowing when to cut your losses on a trade using a hard stop or mental stop. The challenge is to know where to set the stop loss and limit your risk on a trade.
- Using correct lot sizes - start small and limit your lot size to minimum.
- Tracking overall exposure - don't open too many trades at once to keep your overall exposure limited in order to reduce your risk.
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Trade with FXL
We at FX Leaders present three popular ways that will help you turn into successful trader:
- Most popular - follow FXL buy/sell signals and copy them to your own trading platform.
- The second way to trade with us is to read our ‘FX Leaders Trading Guide’ - one of the most popular online beginners course available.
- Social trading is the third way to trade with us. This means auto-copying the most profitable traders directly from us to your platform.
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