Forex Trading For Beginne Rs Quick . - Learn Price Action

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Forex Trading for Beginners QuickGuide PDFForex trading can be a very exciting and also lucrative way to make money.The Foreign exchange or Forex market is gigantic with over five trillion dollars a day being traded.As a beginner trading in the Forex market you don’t have to know and understand every singlestrategy and system, but you do have to understand some core fundamentals.1

In this trading guide we go through exactly what you need to know as a beginner in the Forex marketto start trading and how you can get started step by step.What is Forex Trading?When Forex trading you have the ability to make a profit when price both rises and falls. Not only canyou make profit by buying and going long, but you can also make money from going short and selling.2

This is just one of the reasons that the Forex markets are so attractive to traders who want to tradefrom their homes.As a Forex trader you will have the ability to; Trade a market that is open 24 hours a day and 5 days a week. Use leverage to trade large positions with a small investment. Find and trade many different setups as there are many different Forex pairs. Use the most advanced charts and best trading platforms in the world. Trade a market that is making large moves and offering a lot of potential to make profits. Trade with many different strategies and systems.The Forex markets are open 24 hours a day and 5 days a week. This gives you a lot of tradingopportunities. You have the ability to use many different strategies and you can access some of themost advanced charting equipment in the world for free.The Foreign exchange market is traded by many different participants. A lot of these traders are justlike you who are looking to make profits when price makes smaller moves higher and lower. Otherstrading the markets are trading companies, banks, professional traders and even world governments.Can You Teach Yourself Forex Trading as a Beginner?Forex trading is one of the very few professions where you can actually teach yourself successfully andmake money from it.With that being said; teaching yourself how to trade Forex when you are a beginner is like teachingyourself how to do anything. It is often far quicker and far easier to learn from someone who hasalready done what you want to do.3

When learning from someone who has already learned how to trade successfully you will be cuttingyour learning time down massively. You will be able to avoid a lot of mistakes and wasted time goingdown endless rabbit holes that will waste your money.Whilst teaching yourself to trade is not impossible, it will nearly always end up taking far longer thanwhat it would if you got help.One of the best ways to learn how to trade is from watching, reading and using free Forex tradingtutorials . This can help you speed up your learning time.Learn From Forex Trading Tutorials for BeginnersYou can find some of the best Forex trading tutorials on the internet and often they will be free.The other great way to learn how to trade Forex is through a free course.When learning through a free Forex trading course you will get detailed instructions on what you needto learn as well as in-depth tutorials to help you move to your next level.You can learn about some of the best free Forex trading courses here .The courses discussed in that lesson are designed for beginners and will teach you all the basics thatyou need to know to get started trading in the Forex market.4

How to Learn Forex Trading Step by StepThe three main steps to start Forex trading are as follows:#1: Open a trading account.#2: Learn the basics and fundamentals.#3: Learn a strategy to find trades.Open a Trading AccountOpening a trading account with a reputable Forex broker who will offer you the best trading charts isvery straightforward.You can open a free trading account here with our number one broker.Once you have entered your details and confirmed your account you will be able to download yourfree trading charts.This will allow you to either trade using demo / virtual money or once you have deposited into yourreal trading account, then you will be able to trade with real money.5

Learn the Basics and FundamentalsThis step is crucial and you want to make sure you know all the basics of how to place and manageyour trades before ever risking any of your real money.This is where using free demo charts can be very handy. These demo charts will allow you to practicewith virtual cash and workout exactly what you are doing before you ever risk any of your real money.Learn a Strategy to Find TradesIf you are going to be a profitable Forex trader who makes serious money from the markets, then justunderstanding the basics will not be enough. You will need to have a trading strategy and system thatyou can use to find and manage your trades.6

This strategy will be how you find your profitable trades and how you do things like take profit orminimize your losses.We discuss different strategies that might suit you below.Easy Forex Trading Strategies for BeginnersTrading strategies don’t have to be over-complicated. Often the most profitable trading strategies arethose that are the simplest.The old saying "K.I.S.S" often applies when looking for and using a Forex trading strategy.The two trading strategies discussed below are swing trading and scalping. These are very differenttrading strategies suited to very different traders. You could test them both to see what you prefer.Swing Trading StrategySwing trading is a trading strategy where you look to make profits when price makes its next swinghigher or lower.With this strategy you are not using smaller time frames like the 1 minute or 5 minute charts andjumping in and out of trades quickly. Instead, you are using higher time frames like the 4 hour anddaily charts and are holding trades for longer periods.Swing trading is often best done when price is making clear trends higher or lower.As the example chart shows below; price is in a trend higher. Although price is in a trend higher it isstill making regular rotations lower. These rotations are known as swings or dips in the market.7

The value and swing trader would be watching this trend higher and looking to buy these dips lowerand then making a profit as price continues with the trend and makes its next swing back higher.Scalping Forex StrategyScalping or what is often called scalp trading is almost the opposite of swing trading.Where swing traders are holding for longer periods of time and for the next swing higher or lower,scalp traders are jumping in and out of trades quickly.Scalping involves looking to make quick profits as price makes small movements higher or lower. Thisis known as ‘scalping’ quick profits and then closing the trade.8

The example below is of a 5 minute chart showing a scalping trade. In this example price was stucktrying to breakout of a support level. Once price did make the breakout the scalper would haveentered their trade hoping to make quick profits as price breaks lower.Whilst scalping can be exciting and offer a lot of trading opportunities, it is not for everyone and is astrategy you should test to see if it fits with your trading style.Forex Trading Books for BeginnersAlong with Forex trading tutorials and free trading courses, one of the best ways to learn how to tradethe Forex market is by reading books from market experts.9

There are literally thousands of different books dedicated to the markets that range from beginner toadvanced level.Some of the best books for beginner traders are;Currency Trading for Dummies by Brian DolanOne of the best books if you are looking to get started in the Forex markets is Currency Trading forDummies.Whilst it is not completely for ‘dummies’ and does go through some more advanced topics, it is still agood starting point.The author Brian Dolan has 20 years experience in the markets and has worked at as thechief strategist.Reminiscences of a Stock Operator by Edwin LefèvreWhilst this book will not teach you how to trade the markets, it sure is a great book that has been readby millions of traders.10

This book was first published in 1923 and tells the story of the successes and failures of trader JesseLivermore.This book is very entertaining and a great read.Japanese Candlestick Charting Techniques by Steve NisonIf you are looking for a trading strategy, then price action and candlestick trading is one of the mostpopular in the world.This book by Steve Nison goes in-depth into exactly what candlesticks are, how and why they workand the different patterns you can use in your trading.11

There are a lot of different candlestick patterns and this book does a great job of explaining them.LastlyWhilst many like to think that Forex trading is a get rich quick scheme, you will only find lastingsuccess with commitment.There is a lot to learn and study and you will need to be prepared to knuckle down and learn both thebasics and also the different trading strategies for sustained success.12

Easy Forex Trading Strategies for Beginners Trading strategies don’t have to be over-complicated. Often the most profitable trading strategies are those that are the simplest. The old saying "K.I.S.S" often applies when looking for and using a Forex trading strategy. The two trading strategies discuss