B. Introduction to Forex Trading

Nicholas · June 26, 2020

Have you heard about forex but still don’t understand what it’s all about? – You’re not alone!

Many beginners find forex trading intimidating due to its perceived complexity. As a result, many never take the final step to truly start trading and only leave it as a wish on their list. This course aims to demystify forex trading, breaking it down into understandable concepts and practical knowledge, enabling you to take the first step towards becoming a forex trader.

What exactly is Forex?

When we take away all the noise, the short answer is: “Forex is simply a global market that allows anyone to trade between two currencies against each other at any point in time.” The word “Forex” is a combination of two words merged as one. When we split this, we get “FOR” representing Foreign and “EX” representing Exchange.

This tells us that in forex, we are always carrying out activities that involve the exchange between two or more foreign currencies.

For instance, when trading EUR/USD, you are speculating on the value of the Euro against the US Dollar. If you believe the Euro will appreciate against the Dollar, you would buy EUR/USD. Conversely, if you expect the Dollar to strengthen, you would sell EUR/USD​.

Hold up a minute!

Seems like the lecture has already begun 😅.

Course Goals:

By the end of this course, you will understand:

  • The fundamentals of the forex market
  • What is traded in the forex market
  • How currency trading works
  • Key terminologies such as base and quote currencies

Who this course is for:

  • Anyone who always wanted to be a forex trader but finds it difficult to start
  • Individuals looking to take forex as a part-time or full-time job
  • Beginners seeking a solid understanding of how the forex market works
  • Newbies starting their forex trading career

This course is designed to provide a comprehensive introduction to forex trading, ensuring you have the knowledge and confidence to embark on your trading journey​.

About Instructor

Nicholas

17 Courses

Not Enrolled

Course Includes

  • 5 Lessons
  • 1 Quiz