Table of content
Introduction
What is forex
What is traded on forex
Who is a forex brooker
Trading times & sessions
Terminologies used in forex
Forms of trading
Currency pairs
MT4 interface
STAGE 2
What is a PIP
Concept of BID and ask price
What is a spread
Form of trading orders
Concept of TAKE PROFIT and STOP LOSS
Leverage
LOT sile
Risk mgt
Common mistake by trader
Trading plan
MT4 interface
STAGE 3
How to know when to actually buy or sell
How to generate signals for yourselves
Indictors moving
How to lock in profit
Candle stick analyst
Support resistant level
Pivot point
Fibonnaci levels and some marketing
strategries
Fibonacci level and some trading st
What is forex
Forex is a foreign exchange. Forex is one of the
largest market with a daily liquidity of $5.3 trillion
dollars
What is traded on forex
Someone would ask what is traded on the forex
market. This is not the form of market where u buy
clothes or shoes. The things traded on forex are
currency pairs, commodity etc
Who is a forex brooker
forex brooker are firms that gives u access to the
forex market. They provide you as atrader access to
the financial market by providing a trading account
for you. they give t wjat we call rader leverage.
They are provide support to the trader there are
various broker in the forex market we have
Fxtm
Hot forex
Fxcm
Fbs
Lite forex
We are still going to talk about broker in details.
But we are now aware of their function and what
they offer to their traders.
TRADING TIMES AND TRADING SESSION
We are now entering the most part of this forex training if you
were distracted before let focus because your proper
understanding of the forex market would be determine if you
actually know the forex cycle. There are various trading time
and trafing session in forex. They include;
Sydney session
Tokyo session
London session
Frank fari session
New York session
This session name are derived from the major cities in which
most of transcation are done
For example
SYDNEY SESSION: is represent Australia and other counter
under that timezone
TOKYO SESSION: something called Asian session represent
japan and some of the Asian countries.
LONDONM SESSION: represent the united kingdom and
countries within it
FRANK FARI SESSION : which is Germany represent Europe
whole
NEW YORK SESSION: represent the americans forex is
actually a 24 hours market. It is most times regarded as
the market that never sleeps because it opens everyday
except on weekend.
so no matter where you are, no matter your time zone, you can
actually trade this large highly liquidity market.
Let’s now get to know to know their trading times because each
of this session have their own opening and closing time
SESSION TIME(OPENING TIME)
SYNDEY SESSION 9PM GMT
TOKYO SESSION 11PM GMT
LONDON SESSION 7AM GMT
FRANK FARI SESSION 8AM GMT
NEW YORK SESSION 1PM GMT
Let note this time down in our notebook as you all will be
needing for your trading. Also note that these time are listed in
(GMT) greenish meridian time so you do the appropriate
calculation depending on your countries time zone so as to
know which session you are currently on all session last for 9
hours.
So having know their opening times to get their appropriate
closing time just add 9 hours to the opening time to get when
they would close.
EXAMPLE:
TIME
SESSION OPEN CLOSE
Sydney session 9 PM 6 AM GMT
Tokyo session 11PM 8 AM GMT
New York 1 PM GMT 10 PM GMT
session