To help traders like you digest difficult concepts, we've created a series of free Forex webinars led by our professional traders.
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Our Forex trading webinars cover topics that are time-sensitive, such as weekly market updates, and those that provide long-term strategic guidance that can help you build profitable strategies for a long-lasting trading career. Check out our previously recorded Forex webinars below and be amazed at how easy it is to understand previously complicated Forex trading concepts.
In this webinar, we take a close look at how the Fibonacci series and ratios are derived, and how they can be applied to your charts to find entries and targets. Join Huzefa as he guides you through the world of Forex trading and takes a closer look at the most popular currency pairs in this week's trading. While that's accurate, it's also a bit oversimplified. This broker is one step behind the ECN broker since you can go directly to the liquidity pool and see the others. But if you still want to do something about it then you would want to bring it up to the authorities.
You have less than a year of experience.
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And you want to learn more about the Forex market… Then this course will benefit you greatly. Who trades Forex and why There are numerous market participants who trade Forex. For example: Central banks Banks Corporations Retail traders Central bank Central banks want to make their economy more competitive by devaluing their currency.
This makes their currency cheaper and exports will be more attractive. Banks Banks could be a market maker. They are making a market in the FX market or they may be trying to hedge their portfolio. Corporations Corporations need to buy raw materials. So, they would need to be involved in the Foreign Exchange. For example, I am Toyota and I need to buy raw materials for the tires. Retail traders For retail traders… They could be trading the Forex market to speculate or to generate better returns compared to putting their money in the bank. These are the few groups of traders who trade the Forex market!
The Forex market ecosystem As you can see over here: This is how the network of the Forex market looks like. In the center, they are Central Banks and then Major Banks. Then, you have the Investment Funds and Commercial Company trading with the banks.
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Finally, retail traders like you and me who trades in the market as well. The Forex market hierarchy This is the hierarchy of the Forex market: You can see that Major Banks are at the top of the food chain.
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Source: Babypips Moving on For the Forex market, it typically has high liquidity. Low barrier to entry This means that anyone can open a Forex trading account. Better risk management Certain Forex brokers allow you to trade in Nano Lots. This in return allows you to better manage your risk. Most forex brokers allow you to only pay for the spread and no commissions. When you wake up, the market is open. When you sleep, the market is still open. Quick Recap Forex trading is the exchange of currencies Traded by banks, corporations and retail traders Advantages: High liquidity, low barrier to entry, better risk management, trade anytime, low transaction cost Now, what are some of the different currency pairs in the market?
These 7 currency pairs are the most liquid and most popular pairs. If you look at this: In , the most actively traded pair is the USD. The swings in these markets can be more volatile as well. If you are in Asia, your time zone is different compared to someone in New York! So, I am going to go with a general example and assume that you are from the US. Only when there is volatility can you make a profit! You cannot squeeze blood out of a rock. So, you need to be trading when there is most volatility in the markets.
The most volatile session is the London session. To be precise, the most volatile period is the London and New York overlap session.
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As you can see here: Source: Oanda You can see that when the London session starts. Volatility has picked up. Now… When are the best days to trade Forex? Best days to trade Forex The concept is still the same, you want to be trading Forex when the markets tend to move a lot on certain days. Which days does the Forex market tend to move the most? Tuesday to Thursday generally is where the Forex market moves the most: Source: Babypips You can see the movement of the currency pairs of the week on average. On Wednesday, it tends to move around pips.
And on Thursday, pips on average. You can see that Tuesday to Thursday tends to be when the Forex markets move the most. If you ask me, those days are the best days of the week to trade Forex.
Webinar: The Fundamentals of Forex Trading
This may be slightly different from stocks. But generally, the concepts can be applied as well. If you are short, it means that you want the market to go down so you can make a profit. In the Forex market, there are a variety of different players: banks, governments, international corporations who have exposure to foreign currencies, insurance companies, professional traders, hedge funds and millions of amateur retail traders.
Retail traders like us try to speculate on short term price movements or momentary market volatility to earn high profits. There are two schools of analysis, technical analysis involving charts and mathematical calculations or fundamental analysis, using events like central bank meetings, interest rate decision, inflation data and headline news. There are many fundamental factors that affect the price of an asset and trading these events can make solid profits. The fundamentals of a currency or currency pair can be learned and mastered pretty quickly.
In this class we will learn what these fundamental factors are and how they we can use this information to enter the markets successfully. Why attend? What are the fundamental factors which effects price of an asset.