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0:10 Forex Trading for Beginners: What is Forex Trading
First and foremost, what is Forex Trading? Alright so, Forex Trading, right, or the word Forex refers to Foreign Exchange. What you are doing is trading one currency for another.
1:20 Forex Trading for Beginners: Who trades Forex and why?
So there are numerous market participants, right, who trade Forex. For example, you have the central banks, banks, corporations and retail traders. So central banks could be because, right, they want to make our economy more competitive, right, by devaluing their currency.
2:20 Forex Trading for Beginners: Forex Hierarchy
So this is the hierarchy, right, you can see that at the top of the food chain is the major banks, the central banks. Then followed by medium-sized and smaller banks, then the brokers, okay, hedge funds, corporations, and finally, retail traders at the bottom.
2:45 Forex Trading for Beginners: Advantages of Forex Trading.
So there are numerous advantages of Forex Trading. Number one, there is high liquidity, right? So unlike stocks that sometimes if you trade penny stocks or small-cap stocks there is no liquidity, right?
4:41 Forex Trading for Beginners: Currency Pairs
So now, what are some of the different currency pairs in the market? Right, there are three broad currency pairs that you should be aware of, right.
6:25 Forex Trading for Beginners: Forex Trading Sessions
Let’s talk about the different Forex trading sessions, so. Unlike the stock markets where you’re just in one session, the Forex market, you have typically three different sessions.
10:05 Forex Trading for Beginners: Forex Trading Terminology
Now, moving on, right, let’s talk about some common Forex trading terminologies. Right, this might be slightly different from stocks, right, but generally the concepts, right, can be applied the same.
21:25 Forex Trading for Beginners: Types of Forex Trading Orders
So, moving on, right, the different types of Forex orders, right, so there are a few types, right. Market order, limit order, stop order, stop-loss order.
26:29 Forex Trading for Beginners: Forex Charts
Okay, so now, the different types of Forex chart. Right, so generally there are, well, there are many types of Forex chart, but I’m just going to, you know, share with you the three common ones. The line chart, bar chart, and the candlestick chart.
30:27 Forex Trading for Beginners: Forex Analysis
Right, so your fundamental analysis, you have technical analysis and sentiment analysis.
34:38 Forex Trading for Beginners:
Forex brokers, generally it can be broken down into one of these two categories, right, dealing desk broker, and a non-dealing desk broker.
42:53 Forex Trading for Beginners: How to Protect Yourself
Alright, so, let’s say, for example, you trade with your broker, and you know, you find that your broker did something unjust to you, how can you protect yourself?
I have come to the end of this Forex trading course, I hope you got as much value out of it, and if you want to learn more, okay, you can go down to my website, tradingwithrayner.com at the top over here.
Go to tradingwithrayner.com, right, and over here, right, we will cover more in depth about different trading strategies and techniques, right, so what we’ve learned so far are just the basics information of Forex trading. We have not covered, you know, technical analysis at all or in depth, right, so what you can do is go down to my website, tradingwithrayner.com, and over here, I’ve got two trading guides for you. Alright, the first one is the ultimate trend following guide, we will talk about how you can go about riding massive trends in the market, and the other one is the ultimate guide to price action trading, how we can better time your entries and exits in the Forex markets.
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