The Most Complete Online Forex School For Beginners To Professionals
Forex Schools – Forex is one of the businesses and investments that involve various countries’ currencies. Forex trading itself has long been in demand by various parties. In the past, people who were interested in forex were those who had large capital, but currently the scope of forex users is wider. One of the reasons is that the back technology is widespread in the community. Those who want to enter the forex market just learn from the internet .
History of forex
Before arriving at its current golden age, forex has at least been through several times. Forex has gone through a long and old history. Starting from the trade known in world civilizations. There are at least several phases that have been passed in the history of forex .
- Gold Standard System (1875 – 1914)
At this time the currency exchange standard refers to pure gold as an exchange rate. But this system ended with the onset of World War I due to the huge financial burden incurred during the war.
- Bretton Woods Agreement (1946 – 1971)
This agreement is the result of a meeting of 44 countries led by Britain and the USA in reaction to the destruction of the world economy after World War II. The outcome of this agreement is the establishment of a Fixed Exchange Rate system with USD as the main exchange rate replacing gold. This is the beginning of the history of modern forex. Unfortunately, this system was abolished in 1971 due to the long-standing US and European trade crisis.
- Floating Currency Exchange Rate System (1971 – present)
When the Bretton Woods system was abolished, in 1976 through Jamaica Agreement, the Floating Exchange Rate system was implemented whereby currency exchanges between countries were fully under the control of rising and falling exchange rates determined by the market.
- Forex online (1987)
This era is when forex transactions can be done online. This began when CME Globex made an online forex system by developing Mass Media Reuter technology which clearly became the basis of the electronic network at that time.Electronic data on forex transactions is stored directly in one more practical computer frame.
- Euro enter the Forex Market (2002)
The enactment of the Euro single currency by 17 countries in the European Union added a list of currencies traded in the forex market. At present the Euro is in the top 6 currencies in the world of forex trading as well as being a formidable rival to USD. Forex School
The forex market continues to spin every day. In 24 hours forex transactions can reach $ 3 – $ 4 trillion. This amount has exceeded the daily volume for common markets and futures. This makes the forex market the most crowded and large capital market in the world. This market is also open every day except weekends.Now to trade, you only need an internet connection, computer or gadget , and trading can be done. After that, the trader must find a broker or company that will provide the goods and services for the transaction to the global market. Without a broker, capital will not be enough to trade on the global market. Therefore, make sure you choose a broker that has high legality.
Some important terms in forex that need to be known before traders enter the forex market.
- Pip – Percentage In Point is the last decimal of the price of a currency pair.Changes in each time in this pair are calculated from the PIP. This pip is useful for knowing stock trading profits and losses.
- Spread – Pip difference between selling price and purchase price. This spread is a rule from brokers to provide fees for transactions that will later become the profit of the broker. So, if a broker has a small spread or does not have a spread at all, the broker deserves your choice.
- Swap – is a discount or interest from one transaction that stays. If we stay overnight we will get a discount from the broker. But brokers will also provide options for anti swap accounts that will not get the interest.
Things You Need to Know Before Forex Trading
Many people are interested in entering the forex market because they expect big profits in the future. Imagining we get big profits is certainly one of the valuable motivations. However, imagining the benefits of forex sometimes makes someone forget that forex also has a big risk. Therefore, you must know the market as you enter. So that you are not stuck in a loss on your forex stall, here are some things you need to know:
- Healthy mentality
When you decide to trade, make sure you are not only mentally “just want to get rich”. If you have that mentality, then the forex market will instead become a gambling field. You will trade with a lot that is not known. If you do this, in addition to not having profit predictions, you will only lose the previous capital.
- Knowing the currency pair
Forex is a currency pair trading from various countries. Therefore, this currency pair becomes the center of your trading activities. Make sure you don’t only rely on ego when trading forex. Find a currency pair that suits your personality. Don’t let you trade only based on information from friends or relatives whose truth is unknown. You can get confused, get lost, experience floating and loss.
- Don’t make forex the main income
For beginners it would be better if you do not make forex trading as the only source of income. This will make you enjoy trading more. If you make forex trading the main job, then you will definitely depend on trading profit. You will try hard to make your trading always profitable. This can trigger an unhealthy trading process.
- Avoid emotions
Forex trading, in addition to relying on expertise, also requires emotional skills.Use your patience and strategy to produce correct and profitable analysis.
- Strategy problem
Beginner traders are usually confused about where the moving candle is. The best strategy that can be used is a survival strategy because the “war” strategy is more suitable for those who are already pro in the trading world.
- Determine realistic targets
As a newcomer, it’s better if you set a realistic target. If you are just entering the forex market and have set an excessive target, not profit, but you can experience a large loss that results in prolonged trauma.
Forex School: Simple Strategy for Beginner Traders
Trading strategy is one of the important points that you must determine before entering the forex market. For beginner traders, there are 4 simple strategies that can be applied in the initial trading.
- Crossing Moving Average
Moving Average (MA) is the most widely used indicator by traders. When the MA is below the price, then he confirms the price is in a bullish trend (up). Conversely, if the MA is above the price, it means that the trend is identified as bearish. Forex trading techniques rely on MA crossing moments. When the MA crosses the price, the indicator line moves the position indicating a change in the direction of the trend.
- Oversold and Overbought
Overbought and Oversold are not seen in chart movements so that instructions are needed from signal oscillator indicators such as RSI, Stochastic, CCI and so on. For example RSI shows overbought limits at level 70 and limit oversold 30. Stochastic has levels of 80 and 20, while CCI signals an overbought price when it crosses the +100 and oversold levels when the price falls through -100. If a beginner trader can understand oversold and overbought then he can make this technique as a mainstay technique.
- Sideways Trading
This strategy relies on the support and resistance levels which are the lower and upper prices in a range. The basic principle is that when prices form a proven support it will bounce up. When the price approaches the tested resistance, the first anticipated possibility of this kind of movement is the price bouncing down after failing to break the resistance line.
- Breakout Trendline
Trendline Breakout is effective when the market is trending. Trendline is a vertical line that acts as support and resistance. Breakout occurs when prices break the trendline and change direction. If the trendline is tested strongly, then the breakout signal will be the beginning of a reversal or reversal.
that’s some information that can be learned from the Forex School, hopefully it can be an interesting material for your forex lessons.