By now you’ve learned some history about the forex, how it works, what affects the prices, blah blah blah. ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ. 😴 This is all obviously super important, but know that you’re now thinking… BORING! SHOW ME HOW TO MAKE MONEY ALREADY!!!! Well, say no more friends because here is where your journey as a forex trader…
In order to study how the price of a currency pair moves, you need some sort of way to look at its historical and current price behavior. A chart, or more specifically, a price chart, happens to be the first tool that every trader using technical analysis needs to learn. A chart is simply a visual representation of a currency pair’s price…
rading conditions and potential price movement. Someone who uses technical analysis is called a technical analyst. Traders who use technical analysis are known as technical traders. The main evidence for using technical analysis is that, theoretically, all current market information is reflected in the price. Technical traders generally ascribe to the belief that “It’s all in…
By now you’ve learned some history about the forex, how it works, what affects the prices, blah blah blah. ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ. 😴 This is all obviously super important, but know that you’re now thinking… BORING! SHOW ME HOW TO MAKE MONEY ALREADY!!!! Well, say no more friends because here is where your journey as a forex trader…
Jurisdiction Regulatory Agency Belize Belize International Financial Services Commission (IFSC) The British Virgin Islands (BVI) BVI Financial Services Commission (FSC) Cayman Islands Cayman Islands Monetary Authority (CIMA) Cook Islands Marshall Islands Kenya Capital Markets Authority (CMA) Mauritius Financial Services Commission (FSC) South Africa Financial Sector Conduct Authority (FSCA) Saint Kitts and Nevis Seychelles Seychelles Financial…
Who are you trading with? Is the forex broker a legitimate company? Can you trust it? Unlike Batman in the story from the previous lesson, you’re not going to know who you are trading with. And even if you did, that doesn’t mean you should blindly trust them. Do not trust Spider-Man. He stole my money….
Using a story, let’s learn how forex brokers work…. Once upon a time, two frenemies, Batman and Spider-Man, were hanging out. They were lounging on the couch watching a movie, Justice League (Snyder’s Cut), but after a couple of hours, their attention span started to drift. Even Batman began to get annoyed at watching himself…
What is margin? When trading forex, you are only required to put up a small amount of capital to open and maintain a new position. This capital is known as the margin. For example, if you want to buy $100,000 worth of USD/JPY, you don’t need to put up the full amount, you only need to put up a…
In your trading platform, you will see something that says “Unrealized P/L” or “Floating P/L” with green or red numbers beside them. In this lesson, we explain what Unrealized P/L and Floating P/L are. When trading, there are actually two different types of “profit or loss”, also known as “P/L”. Both are important. Let’s discuss the difference between the…
What does “Account Balance” mean? In order to start trading forex, you need to open an account with a retail forex broker or CFD provider. Once your account is approved, then you can transfer funds into the account. This new account should only be funded with “risk capital”, which is cash you can afford to lose. The “Account…