Forex for Beginners | Answering all your questions about Forex!

Time 2022-10-22 22:12:02

Web Name: Forex for Beginners | Answering all your questions about Forex!

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Beginners,Answering,Forex,for

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Forex for Beginners

Answering all your questions about Forex!

Traders ask about:

What is FOREXBeginner tradingForex BrokersForex Currencies Forex IndicatorsForex Pivot PointsForex SystemsForex Technical analysisFundamental analysisLeverage and Margin

Money ManagementSupport Resistance tradingTiming in ForexTrading platformsUseful ResourcesEducational articles

Forex beginners portal features: Beginner questions and answers, Forex beginners learning center - every bit of information for your trading success!

Being a Forex beginner

We all were beginners one day...
This site is for everyone who decides to step on a path of Forex trading career.

An overwhelming amount of information about Forex can leave an average newbie quite discouraged: What to do first? Where to start? Will I ever be able to comprehend everything about Forex trading?

Those and many other questions will be answered here in our tutorials and lessons.

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What is FOREX

Abbr. "FOREX" stands for Foreign Exchange, an exchange of currencies. When a person comes to trade currencies, e.g. buy one currency and sell another one - it is called currency exchange trading, or simply known as Forex.

Because the value of each currency always on the move, it fluctuates depending on the local and global economic factors, there is always an opportunity to profit on those changes/fluctuations - it is called currency speculation.

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What currency pairs to trade in Forex?

Although there is lots of currency pairs offered to Forex traders, if you are a beginner it is easier to start with major currency pairs:

EUR/USD
GBP/USD
USD/JPY

There are several good reasons for that:

1.These currency crosses are widely traded, thus providing liquidity which is needed in order to benefit from price changes.
2.They have tight spreads, except may be for GBP/USD, which most of the time receives higher spread quotation from Forex brokers as it is more volatile (e.g. has wider price ranges than other pairs).

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What time frame to trade in Forex?

What is the best time frame in Forex? What is the most profitable time frame in Forex?
Those and similar questions are rising day after day in minds of novice Forex traders.

Let’s drop out the philosophy and focus on facts.

We know that each time frame displays same data, but in different intervals.
The choice of time frames is wide.

Let’s take the most preferred Forex time frames: 1 day, 1 hour and 5 minute.
These time frames are also perfect for beginners to test their feel about the Forex market.

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New Poll: What brought you into Forex?

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Recent questions:

Would you recommend using the MT4platform vs a regular one? Are there any real differences and benefits...

Hi, I would like to ask about trend lines.
I read that if you draw a trend line you can then draw another line...

I would like to have one -on-one coaching.
do u have something like that? Or live training.??

Where can I find the Camarilla indicator?

I prefer the New York open.
i am in Ghana and want to know when to calculate pivots for this market.

What are the best trading
platforms for beginners?

How do i start demo trading?

As a newbie to Forex I read
a great deal about how you should go with the Trend or the Tide and not with the ripple or wave.

I am using an expert adviser in metatrader.
Does m30 time frame mean after 30 minutes it stops trading...

would like to know if take profit
and stop loss mechanisms are still applicable in the U.S based forex trading platforms and if non then why?

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