Forex training for beginners from scratch - the principles of trading in the Forex currency market + an overview of the TOP-5 programs for trading

Hello dear readers of the financial magazine Rich Pro! In this issue we will cover the topic of Forex training. for beginners and novice tradersThose who want to learn how to trade Forex from scratch for free.

Today, a huge number of people are interested in the Forex market. This is due primarily to the fact that it is heard from all sides that in this market anyone can quickly become a millionaire.

But making money without even basic knowledge is unlikely to succeed. The presented article is a brief guide to the initial data.

The article will cover the following topics:

• What does Forex fundamentals consist of?
• General market information;
• The main types of trading and the basic principles of trading;
• Effective methods used to analyze quotes;
• Overview of the most famous trading platforms;
• Where can I get Forex training for free.

This publication will be useful, first of all, to those who take their first steps in trading currency pairs. It will help not to get lost in the sea of ​​existing information.

So, we are starting.

Forex trading training from scratch - the basics of trading + video tutorials for beginners

1. What includes Forex trading training 📚

Forex trading training is a collection of classes. They can be conditionally divided into two volume groups:

1. The theoretical part of Forex training;
2. The practical part of trading training.

Thanks to such classes, a beginner receives basic knowledge about the international currency market, the rules of its functioning, as well as trading for profit.

1.1. The theoretical part of Forex training - 4 basic areas

The structure of the theoretical block of training in trading without fail includes four areas.

Direction 1. General information about the Forex exchange

In this block of classes, basic concepts are studied, as well as the principles of the Forex market.

At the end of the study of this block, knowledge should be formed on the following issues:

• who are the market participants;
• concept of a currency pair;
• rules for the formation of currency quotes;
• ways to track quotes;
• how transactions are concluded;
• trading rules.

Direction 2. Fundamental market analysis

The basis of successful trading is the correct analysis of quotes and the correct forecast of future movement. If they are based on macroeconomic as well as political factors, we can talk about the application fundamental analysis.

In the learning process, not only a list of factors is considered, but also the sources of their occurrence. In addition, it is important to learn how to use them in the trading process.

Direction 3. Technical market analysis

The study technical analysis The Forex market includes the following questions:

• process of forming quotation charts;
• candlestick concept;
• how is the analysis of the quotation chart for forecasting the movement of a currency pair;
• what tools are used for technical analysis.

Direction 4. The principle of operation of the exchange terminal

At this stage, the following questions are studied:

• functionality and capabilities of the terminal used in Forex trading;
• how orders are opened and closed in the terminal;
• how to open and use a demo account.

1.2. Forex Trading Practical Training

By the way, you can trade financial assets (currency, stocks, cryptocurrency) directly on the stock exchange. The main thing is to choose a reliable broker. One of the best is this brokerage company.

The practical part of the training includes training bidding on demo account in order to develop their own strategy, which will regularly be profitable.

Many people think that training on a demo account is unnecessary. However, for those who do not want to quickly merge a real deposit, having lost all investments, experts adviseNOT neglect this stage of training.

The demo account completely copies the features and functionality of the real one. The only difference is that when using a demo account, trading is carried out virtual money.

Such a training account is opened for any amount. You can use it any amount of time. Usually for traders, this period is equal to the interval that is necessary for mastering the acquired skills or testing the developed strategy.

However, experts do not recommend using a demo account for too long. This can lead to the fact that the trader will treat Forex as a game. As a result, a psychological unpreparedness for trading in live money develops.

Thus, Forex training should include two main stages - theory and practice. The first is most often given about a month. It all depends on the initial knowledge of the trader and his ability to perceive information.

When the study of the theory is completed, we can proceed to practical exercises. They are often given the order two to three months. But for those who have never encountered Forex, their duration can stretch to a year.

Forex Starter Information

2. General information about the Forex market - basic concepts, terms and definitions

Today on the Internet you can find a huge amount of information about the Forex market. At the same time, data that radically differs from each other often comes across. It can be difficult for a beginner to understand this flow of information.

It is best to use the first step. brief allowances. Naturally, it will not give a complete picture of the features of the market and trading. But such an express course helps to direct the beginner in the right direction.

2.1. What is Forex Exchange - A Brief Definition and History

Forex (from English FOReign EXchange - "foreign exchange") is an international currency market. Here, all types of transactions with foreign currency are carried out - purchase, sale and exchange.

In the modern sense, this market has appeared in 1971when ubiquitous exchange control ceased and they became floating. This led to the possibility of treating currency as a product that can be traded on the market - to trade it, set a price and, accordingly, earn on the difference in value. Read about how to make money on Forex in one of our articles, where we also gave a personal example of earning in the foreign exchange market.

Key Forex Benefits

The advantages of Forex include the following:

1. In this currency market, trading is conducted around the clock.
2. Daily trading volumes are huge. Often they reach several trillion dollars. Thanks to this, finding a seller or a buyer here is not so difficult.
3. There is no single center for the Forex market, however, it is ubiquitous. This allows you to guarantee free market relations.

Key Forex Market Players

All participants (players) of the Forex currency market can be divided into two large groups:active and passive participants.

Active members may participate in the formation of market quotes. These include:

• Central banks;
• Commercial banks;
• Brokerage companies.

Passive Forex Market Players trade using the value of currencies that has been set by active participants. This category includes:

• corporations of international importance;
• companies engaged in foreign trade operations;
• investment funds;
• private investors.

2.2. The main terms and concepts of the Forex market

Learning to trade Forex is not possible if NOT Know basic terms and concepts.

Broker They call an organization that commits itself to assisting traders in the trading process. For this he receives a reward.

Margin represents a part of the amount of the transaction that the trader is required to deposit into his account opened with a broker. The term is closely related to the concept of margin. leverage.

Leverage - a specific mechanism that is used by the broker and allows the trader to make transactions for amounts many times greater than those located on his account. for exampleif the broker provides a leverage of 1 to 10, the margin is 10%. To make a deal in the amount of $ 1,000, you need to have $ 100 in your account.

Insurance deposit called the funds placed by the trader in the account that he opened with a brokerage company. An insurance deposit acts as a certain pledge, allowing you to use leverage. If the loss from open transactions reaches the amount of the insurance deposit, all operations will be completed.

Arbitration in the Forex market is the performance of certain actions, the ultimate goal of which is to make a profit in case of changes in the value of currencies.

Usually there are two types of arbitration transactions:

1. purchase with subsequent sale (in other words, buy cheaper, sell more expensive);
2. first sale, then purchase (sell more expensive and then buy cheaper).

Any transaction consists of two stages:

1. In the process of opening a position, the trader and broker commit themselves to bet one currency against another. From this moment on, price changes affect the size of the deposit.
2. When a position is closed, the obligations assumed are fulfilled. At the same time, the result is fixed (profit or loss). After that, the effect of the change in quotations on the size of the deposit is terminated.

The main types of trading in the foreign exchange market

3. Types of Forex trading (depending on the duration of the transaction)

In the process of trading on the exchange, traders use various Forex strategies. They can be divided into two main types: short term and long term.

View 1. Short-term trading strategies

Traders who use short-term strategies in trading, open and then close the position during 1 day. At the same time, Forex allows you to use a large number of time periods in trading, so short-term strategies are divided into the following types:

1. Scalpingalso called pipsing. The transaction (from the moment of opening to closing the position) occurs on timeframes from 1 minutes to 30 minutes.
2. Intraday trading. In intraday trading, time periods in the range are considered optimal from 15 minutes to 4 hours.

Pay special attention! Using short-term strategies, it is important to clearly identify the moments of entering and exiting the market.

The advantage of such trading strategies lies in the large number of opened transactions. With proper analysis, the percentage of profitable positions is always higher than the share of unprofitable ones. In other words, the trader's overall result will certainly be positive.

Type 2. Long-term trading strategies

If a trader uses long-term strategies in the trading process, his positions remain open for several days, weeksand sometimes months.

Sometimes professionals do not close deals for several years. The total amount is simply huge.

For long-term strategies to be successful, it is important to have a good idea of ​​where the price is aimed. At the same time, all positions are opened in the direction of this goal.

Two advantages of long-term strategies can be distinguished:

1. less exposure of the trader to stress;
2. there is no need to pay the spread too often to the broker, which ultimately leads to a larger amount of total income.

To trade using long-term strategies, it is important to be able to maintain self-control. Often you have to keep open positions even in cases where the price has gone in the wrong direction, which means that the loss is constantly growing.

One cannot say with absolute certainty which type of strategy is better. Only the trader himself can choose the best one for himself.

It is important to understand that beginners usually suffer losses in any method of trading. Professionals at the same time make a profit. The explanation is simple: You can earn only by putting enough effort, having accumulated certain experience and knowledge.

We advise you to read our article on how to make money on binary options using Forex strategies.

4. Forex market analysis methods - 5 most popular methods

Forex is a complex financial institution that is subject to continuous change. Moreover, it is often extremely difficult to predict his further behavior.

There are often situations where even experienced market participants cannot explain why the market behaved this way and not otherwise. Nevertheless, many people want to predict the direction of quotes in the future as accurately as possible.

That is why well-known analysts all over the world devote a huge amount of time. development and implementation of various methods for analysis. All of them are based on a specific list of factors and statements.

Experts believe that success in analysis can be achieved only if several different methods are used simultaneously. Typically, experienced traders have several methods of analysis and market and forecasting its further movement.

If there is a signal to open a position obtained using one type of analysis, market participants are looking for its confirmation in another way. The decision is made only on the basis of integrated approach.

Thus, the simultaneous application of several techniques seems to be a more holistic method of analysis, giving more reliable results. It is important for a trader to know the basics of all the most commonly used market analysis techniques.

Method 1. Technical market analysis

In the process of technical analysis, various graphical models are used to predict the further movement of quotes. Many professionals are inclined to believe that all fundamental factors are reflected in graphic models.

If you use technical analysis tools in the trading process, it is important to consider several important features:

• A graphical representation of the market contains all the data necessary for analysis. That is, we can say that the quotation chart contains information about the state of the market at a given time.
• The market has a memory, which means that events of past periods can be used to build a model of market movement in the future.

A huge popularity among traders today enjoy a variety of indicators used in the framework of technical analysis. The purpose of their use is to develop a forecast of further price movement.

Method 2. Fundamental market analysis

The main objective of the fundamental methods of Forex market analysis is the analysis economic, as well as political situation, which has developed to date. At the same time, countries whose currency is involved in transactions in the Forex market are taken into account. It is important to note that the fundamental approach to the process of analyzing the market situation allows us to forecast the impact that certain events will have on the market.

There is a chart in which all important macroeconomic indicators are published. It is called economic calendar.

When using macroeconomic indicators, it is important to correctly compare real data with the forecast values ​​of analysts. In this case, you can determine the direction of the price movement of the currency pair. for example, an increase in the number of unemployed citizens in America may lead to the beginning of a fall in the dollar against other currencies.

Method 3. Candlestick market analysis

There are several ways to display the price of a currency on a chart.Most traders consider building the most convenient and informative among them japanese candles. That is why professionals devote a lot of time to studying and recognizing on the chart shapes made up of candles. In addition, if candles are considered an integral part technical analysis, significantly increase the chances of a correct forecast.

It is important to understand the features of the construction of this element of analysis:

1. Each candle determines the change in the value of a currency pair at a given time interval.
2. Two components of candles can be distinguished. - body and the shadows (or tails).
3. Of great importance is also its color. White either green the candle shows that at a given time interval was observed price increase. If the candle is painted in the black or red color, we can conclude the fall.
4. Upper and lower bounds show open prices (Open) and closing (Close). At the same time, it is logical that with a growing candle, the Open price is below the Close price. And vice versa: if the candle indicates a fall, the opening is higher than the closing.
5. The importance of shadows is also important. They show the maximum (High) and minimal (Low) cost at a given time interval.

Initially, the analysis with the help of candles on Forex was applied on the daily chart. The candlestick analysis method allows you to compare the change in quotes for a certain period of time.

At the same time, several types of formed figures are distinguished, which are most often subdivided on reversal patterns and trend continuation. But do not forget that the reversal pattern does not always signal a speedy reversal of the trend. On the contrary, it may indicate the formation of a flat.

Candles were designed and first applied. the Japanese. That’s why often-occurring figures have original names - Harami, the Hanged Man, Three mountains and three rivers, Evening star.

Method 4. Fractal market analysis

Adherents of non-linear analysis, as well as fans of Bill Williams appreciate fractal analysis. The formation of a fractal occurs when, in a combination of five or more graphic units (candles or bars), the average has the largest value of the minimum or maximum.

When trading in the terminal, fractals are determined automatically. So in MetaTrader 4 they are designated arrowsdirected way down  or up . This tool is used for trading on a breakthrough. Even minor signals are used - when the price goes beyond it at least by 1 paragraph.

Fractal analysis is recommended to be used in combination with other indicators of technical analysis.

Method 5. Wave Market Analysis

The ancestor of the wave analysis method is considered trader Elliottwho first described it. The method is based on the statement: the psychology of the behavior of market participants is subject to cyclical patterns, which are constantly repeated after a certain period of time. Graphically, it looks like waves.

The main assertion of this analysis is that any market in its movement passes two wide phases - periods of bull activity and time intervals when bears are more active than bulls.

In accordance with the wave principle, the movement of quotes in any market is combination five the wavesthat have one direction (trend), and three the waves with the opposite direction - rollback or correction.

There are two types of waves: impulse and corrective. First participate in the creation of a trend (bearish or bullish), second - move as opposed to an existing trend.

Thus, it is important not only to study and understand the principles of action of various types of analysis, it is important to be able to put it into practice. At the same time, the use of several techniques in a complex allows you to make a more accurate forecast, which means that you earn much more money.

Forex Trading Basics for Beginner Traders

5. Principles of trading in the Forex currency market - the basics of trading for beginners

In order to successfully trade Forex, and therefore, consistently make a profit, it is important to have an idea of ​​the basic principles of trading.

5.1. Buying and Selling on Forex

As in other Forex markets, the main principle of speculation can be reflected in one phrase: buy cheaper, sell more expensive.

When trading currencies is two type of deals. In financial terminology they are called positions. It could be buy position or sell position.

The Forex currency market differs from the commodity ones only in that in order to complete a sale transaction there is no need to have the right amount of a certain currency. Therefore, in the process of trading, you can immediately conclude a deal to sell.

Regardless of where the trade starts - with a purchase or sale, the main rule for making a profit remains unchanged. You should always try to buy currency as cheaply as possible, and sell as expensive as possible. The procedure in this case does not matter.

The names of positions on the Forex are usually indicated by English words:

• buy position traditionally called Buy. It should be opened when an increase in the value of a currency pair is expected;
• sell position called Sell. It is opened when they expect that the course will fall.

As noted above, for the sale of currency there is no need to have it available. However, the account must have an amount that is enough to open a position of the required volume.

To be precise, not currencies are traded on Forex, but currency pairs. They include two currencies at once.

Examples of transactions Buy (buy) and Sell (sell)

When determining quotes, the value of one currency is expressed in a certain number of units of another. Therefore, the growth of the currency pair shows that the cost base currenciess (comes first in the pair) rises in relation to the price of another, the so-called quoted currency (in second place in the currency pair).

There are two prices in the Forex market:

1. Bid - The price at which the broker is ready to buy currencies;
2. Ask - the price at which the broker is ready to sell the currency.

The difference between the two prices is called spread.

Thus, the basic principles of Forex trading, which allow you to make a profit, are:

• buying the base currency at a price that is located as low as possible on the chart (cheaper), with its subsequent sale at a cost located in the graphic image above (more expensive);
• or vice versa - first a sale at a cost at the top of the chart, then a purchase at the bottom.

The combination of two consecutive transactions (purchase + sale or sale + purchase) is called transactions. It is she who brings the Forex market profit or lesion.

5.2. Transaction volume (trading position size) and financial market margin

At Forex, the volume of contracts or transactions is standard. It is traditionally tied to the amount of the base currency. Moreover, the unit of measurement of the standard value of the contract is accepted lot.

Under lot in trading conducted on the Forex exchange, they understand the unit of transactions in the market, the batch of currency sold, a certain amount of the currency sold and bought of the same type.

In this case, the standard size of one lot is 100 000 units of the base currency. As noted above basic - the currency that is paired at the beginning.

Example:

When trading a pair of EUR / USD, 1 lot is equal to 100,000 euros. If a trader sells 1 lot of a pair of GBP / USD, the contract will be equal to 100,000 British pounds.

The amount required to sell one lot, even when using a sufficiently large leverage is quite large. It would seem that not everyone can afford to trade on Forex.

However, there is no need to trade whole contracts. The market allows you to use the fractional part of the contract in trading. It turns out a deal on 0,4 lot has a volume 40 000 units of base currency, but 0,2 contract - 20 000 units.

Contract volume ultimately determines size of financial result (profit or loss) that the trader will receive when closing a position. In addition, it is he who affects the value of one point.

Paragraph In the Forex market they call the minimum possible change in the value of a currency pair.

Most often, the quote has 4 decimal places. In this case, the item is equal to 0,0001. That is, if the value of the EUR / USD currency pair has changed from 1.0775 to 1.0778, we can say that the change amounted to 3 paragraph.

It is important to consider, as an example, how profit and loss are formed when a market participant completes a transaction.

Example of calculating transaction results

The balance of the trading account is 1 000 USD Trader takes a position BUY for the EUR / USD currency pair in the amount of 0,1 lot. In this case, at the moment the price Ask makes up 1,0812.

In the form of a diagram, a position opening can be represented as follows:

+ 10 000 EUR

- 10 812 USD

It turns out that 10,000 euros were bought, for which 10,812 dollars had to be paid. However, the trader does not have such an amount in the account. Therefore, the broker suggested that he use leverage sizes 1 to 100.

It turns out that in this case the cost of the contract is a hundred times smaller amount - 108.12 dollars. If there is 500 USD in the account, it is quite possible to make such a transaction.

The amount that was required to secure the transaction (USD 108.12) is called margin. The terms are also used to denote this concept. pledge and margin collateral.

In other words, margin is a guarantee that provides the opportunity to arrange a loan product (in our case, currency). This currency is used in the process of trading on the exchange with the aim of making a profit. Trading in which margin is used is called marginal.

The formula for calculating margin is as follows:

Margin = Contract Size / Leverage

In the presented example, a deposit allows a trader to open a position with a larger contract value.

But do not forget about caution: choose the size of the transaction should be extremely careful. This is due to the fact that the size of the contract affects not only the profit, but also the potential loss.

How will the situation develop further? Supposethat after some time there was an increase in the value of the currency in the market. As a result, the trader manages to close the deal at a price Bidwhich is 1.1015.

Schematically, the operation is as follows:

- 10 000 EUR

+ 11 015 USD

In other words, the trader sold previously bought 10,000 euros for 11 015 dollars at an increased rate.

The financial result of the transaction amounted to:

- 10 812 USD + 11 015 USD = 203 USD

A positive result represents the profit of the trader. The deposit is increased by this amount.

Example of opening (Buy) and closing (Sell) transactions in the foreign exchange market

As a result, the following amount appears on the account after the transaction:

500 + 203 = 703 USD

Similarly, you can calculate the opposite transaction, which begins with the sale process.

A positive or negative result of the transaction allows you to understand: the profit was received or the loss as a result of the transaction.

The example describes two types of prices - Bid and Ask. By price Ask was committed purchasebut for the price Bid - sale.

As mentioned above, on the exchange, as in any market, there are two types of prices. At the Bid price, the broker agrees to buy the currency from the trader, and at the Ask price, he sells the currency to the market participant.

The difference between Ask and Bid prices is spread. At the same time, of course, the Ask price> Bid.

The difference between prices (spread) is extremely important for the broker, because his profit is made up of it. Despite the fact that this difference is small, the profit of a brokerage firm is quite substantial as a result, because there are quite a lot of traders on the market.

Spread The Forex market is most often fixed. For different currency pairs it is different and there are no less than two points.

5.3. Trade orders (warrants, orders)

When opening and closing positions in the foreign exchange market, market orders.

Warrant call the order of the trader to the broker to make a purchase or sale of a financial instrument at a certain price.

Many consider market orders from the point of view of their execution at the current price on the market. In practice, the situation is somewhat different.

A trader physically cannot monitor the state of the market continuously - around the clock, interrupting only on weekends and sometimes holidays. Moreover, for successful trading it is extremely important not to miss the moment and complete the operation at the required price. This opportunity appears due to forex trading. pending orders.

Pending order represents the order of the trader to the broker to make a purchase or sale of a currency pair, as well as closing existing positions when the quotation reaches a certain level in the future.

Pending orders allow the trader to control the opening and closing of positions even if there is no connection to the trading terminal.

In other words, such orders fulfill an important function: they allow you to open or close a position at a price predetermined by the trader.

There are two groups of pending orders: for closing and opening positions.

Types of closing orders

There are two types of orders, the purpose of which is to close a position:

1. Order Stop loss or translated into Russian - loss stop. This type of order is designed to limit the loss of the trader in the case when the quote will move in the direction of loss. In this case, the trader himself determines the level at which the position will be closed.
2. Order Take profit or in Russian - take a profit. This type of order is used to lock in profits. In other words, the trader determines upon reaching what level of value the result of the position will be equal to what is desired and it will be possible to close the deal.

In most cases, each open position is set two orders at once - Stop Loss and Take Profit. When one of the orders is triggered, the second is canceled.

An example of setting market orders Stop Loss (Stop Loss) and Take Profit (Take Profit)

Experienced traders believe that neglecting orders Stop Loss is not worth it. If you do not use loss fixing during trading, if the price moves sharply in the direction opposite to what you want, you can quickly lose your entire deposit.

Types of orders for opening a deal

In order to open a position, one of four types of orders can be used:

• Buy Stop;
• Buy Limit;
• Sell ​​Stop;
• Sell ​​Limit.

It is important to dwell on each of these orders in more detail.

Buy Stop represents an order of a brokerage company to open a position implying the acquisition of foreign currency, if cost will increase to a certain level.

In this case, the price of an order to open a position is always higher than the current one at the time of placing the order.

An example of setting a market order (order) Buy Stop

Order Buy Limit - an order from a trader to his broker to open a buy position at lowering prices to a specified level.

Example of setting a market order Buy Limit

It turns out that in this case the price used when placing the order should be lower than the one that is currently operating on the market.

Sell Stop - this is an order sent by a trader to a broker in order to open a position for sale at lowering value of a currency pair to a value determined by a market participant.

Example of setting a market order Sell Stop

At the same time, the price of the order is below the market.

Sell Limit represents an instruction to the broker to open a position for sale at growth prices up to the value determined by the trader.

Example of setting a market order Sel limit (Sell Limit)

In this case, the price used in the order must be at a level higher than the current price.

In simpler terms, it can be noted that pending stop orders the trader sets when he expects the selected direction to be confirmed. In this case, the transaction will be completed at a cost less profitable than the current one.

In the same time pending limit orders used by traders who believe that in the future there will be a movement opposite to the current one. This situation is usually observed during a trend reversal or rollback. In this case, the position will be opened at a price more favorable than the current one.

The use of the orders described above in the trading process is optimize the trading process in a standard way. Such orders allow you to catch the necessary moments even in the absence of continuous monitoring of market behavior.

However, the options for using pending orders are not limited to these orders. So, eg, the popular MetaTrader 4 platform allows you to install interconnected orders.

In this case, the action of one order directly depends on whether the other is activated or deactivated. Thanks to this, it becomes possible to build a strategy of almost any complexity.

Thus, the basic principles of trade are not so many. Everyone can remember them. However, it is important that their understanding is also present.

Trading platforms for trading - an overview of the most famous

6. Programs for trading on Forex - criteria for choosing a trading terminal + review of the TOP-5 popular Forex platforms

For successful Forex trading, it is important not only to know and be able to apply basic information well. You should also choose one. trading platformwhich will meet the requirements of the trader.

In the selection process, don’t blindly trust advertising reviews. It would be much better to draw up a specific list of features and capabilities that are present on various platforms.

After this, the trader must understand what factors are most significant for him. Already taking into account all these features, an individual rating of the platforms is compiled and the most optimal one is selected.

Platform to carry out trading on Forex most often called trading terminal. Some brokerage firms also call them trading customers. But the essence remains the same.

Trading terminal is a software designed for interactive entry to the international currency market. With the help of such a program, you can conclude various transactions on the exchange.

In principle, almost every trading platform is convenient for trading. The choice in favor of one of them should be made on the basis of their own preferences, as well as on the basis of the offers of the forex broker. In one of our materials you can find out what the rating of Forex brokers looks like.

There are a number of criteria that can help identify the best terminals:

Criterion 1. Speed ​​and performance. If this indicator is low for the platform, trading with it can be inconvenient. There is a delay in displaying quotes on the chart, transactions may be completed late. This is especially unpleasant for intraday trading, when each item matters.

Criterion 2. Functionality can be described as the number of tools available in the terminal for analysis: technical indicators, timeframes, charts etc.

Of great importance is the ability to open windows with quotes for several currency pairs.

Experienced traders also pay attentionwhether the program provides an opportunity to write your own indicator and trade automatically, are there any special add-ons that allow you to do this (so called advisers and robots).

It should also be assessed what modes and types of orders are provided in the terminal, whether there is an economic calendar, services for conducting fundamental analysis.

Well, do not forget that in different trading terminals there may be a different number of financial markets, trading floors, as well as financial instruments available for transactions.

Criterion 3. Convenient interface. This item implies that the use of the program will be intuitive, you can set individual settings, including color scheme. All this determines the comfort of the trader.

Naturally, the first impression of users is also affected external program design.

Criterion 4. Security. The terminal must ensure confidentiality, as well as the security of all data stored in it, as well as transactions.

It is important to remember that this factor is determined not only by the program used, but also by the broker who has an account.

Criterion 5. Mobility - the ability to install a trading terminal on mobile devices. In other words, the platform must be compatible with various operating systems, work on smartphones and tablets without failures and crashes.

It should be understood that functionality is an important factor. However, there are platforms that, with less functionality, are more adapted to certain trading conditions.

Thus, there are a large number of trading platforms on the market. Usually, different programs require different levels of professionalism.

The fact is that too much advanced functionality can confuse a beginner, and a small number of tools may not be enough for a professional. Therefore, over time, many traders move from one terminal to another.

With this universal advice, which would turn out to be better does not exist. It is best to try all the popular platforms and choose the one that best suits the requirements of a market participant.

You can download and choose a program for working on Forex for free on the official website of Forex Club.

👆 However, it is useful to learn some of the features of commonly used programs.

Platform 1. Ninja Trader (NT)

The Ninja Trader platform was recognized as the reference. It is a full-featured program that was developed in the USA by the company of the same name, whose office is located in Denver.

Using NT, you can conclude transactions not only with Forex currencies, but also participate in trading with other instruments: stocks, options, forwards, as well as futures.

This platform is used by a huge number of brokerage companies around the world.

NT allows you to trade both in manual and automatic mode.

The terminal includes a huge number of tools for market analysis, modeling and forecasting the future movement of quotes, as well as the development of their own trading strategies.

Among the main advantages of Ninja Trader are the following:

• high level of performance;
• Some of the widest opportunities for analysis;
• reliability;
• ease of use;
• flexibility.

Two variants of Ninja Trader are developed:

1. NT Lite - lightweight platform type, in which there is no possibility of automatic trading, is distributed free of charge;
2. NT Pro - Professional version of the platform. Worth about 50 dollars monthly. It has advanced functionality. Some brokerage firms offer customers free use of this version of the platform.

Platform 2. ZuluTrade

ZuluTrade is a system that works online. In the trading process are used free forex signalsthat are provided by traders from around the world.

The trading method when using this platform can be described in a few words - copying the actions of other traders online.

The ZuluTrade program is a kind of community uniting two categories of market participants:

1. almost 1,200 traders who trade on live accounts opened with various traders, they act as signal providers;
2. several tens of thousands of users who chose a particular signal provider and allowed the system to copy their transactions into their own account, thereby automated trading.

Without a doubt, you can choose a provider only after a thorough analysis of its trade and performance evaluation. Service can help with this. ZuluTrade Alchemywhose main function is to conduct an automatic comprehensive analysis of traders' trading.

If you decide to trade with ZuluTrade, it is important to carefully diversify your risks. For this purpose, a deposit should be arbitrarily divided between several signal providers.

By the way, ZuluTrade offers the opportunity for any trader to register as a signal provider. To do this, just pick a reliable broker.

Platform 3. Mirror Trader

This platform is based on the principle mirror trading on forex. Previously, the opportunity to use it was provided only to large investors.

The principle of operation on this platform is quite simple. Servers owned by the program developer (Tradency companies)monitor the signals that come from the authors of various trading strategies in the foreign exchange market.

Using Mirror Trader, investors select, analyze and evaluate the signals of professional traders. After that, they decide to enforce or reject these signals on their trading accounts.

Mirror Trader allows you to configure mirroring in manual, automatic, as well as semi-automatic mode. The trading principles here are similar to the ZuluTrade platform, as well as PAMM accounts.

Platform 4. Meta Trader 4 (MT4)

The platform developers are MetaQuotes Software Corp. MT4 was released in 2005, it changed the older version - MT3.

Compared to its predecessor, MT4 has several innovations:

• new architecture;
• add-in aimed at developing individual trading strategies used in automatic mode.

This is one of the most popular platforms among traders. This fact is explained by its high performance. Even on a not too powerful computer, it allows you to serve more than ten thousand traders at the same time.

Distinctive features of MetaTrader 4 are:

• the ability to install on mobile devices;
• excellent security system;
• the presence of automatic trading;
• wide functionality for market analysis;
• flexible settings;
• possibility of programming.

Platform 5. Meta Trader 5 (MT5)

Just five years after the release of MT4, it entered the market more than a new version. In 2010, the presentation of Meta Trader5 was held, which has a new design and has incredible functionality.

The developers said that the main advantage of the MT 5 platform is that it was based on the principle all in one. By opening only one account, the trader gets not only the opportunity to analyze and trade automatically, but also access to several financial markets:

• Forex
• stock exchanges;
• futures exchanges;
• forward market;
• options.

MT5 includes:

• 79 tools for analysis;
• 21 time intervals;
• technical analysis indicators database, which is provided free of charge;
• economic calendar;
• the possibility of fundamental analysis;
• alert system;
• 4 options for the execution of transactions;
• four zoom modes;
• a glass of prices;
• 6 types of pending orders;
• 17 display options.

The programming language used in MT5 is almost faster than the previous version 10 times. This allows you to issue forecasts of increased accuracy, as well as make automated trading more effective.

In this way, MT5 Today it is one of the fastest, most productive and economical platforms in the world.

Compare the trading platforms MetaTrader 4 and MetaTrader 5

Comparison table of MT4 and MT5 platforms

It is important to understand that no one can give universal advice on choosing a trading terminal. It all depends on the needs and level of professionalism of the trader.

7. Where to get free Forex training - TOP-3 options 🔎📖

The fact that for trading in the Forex market it is important to have at least a minimum set of knowledge leaves no doubt. Most brokers offer beginners a go free education to prepare for bidding.

We advise you to take Forex trading training for free at FxClub Academy.

It is important for a brokerage company that a trader stay afloat for as long as possible without losing a deposit. After all, it is precisely on this that the level of profit received by him largely depends.

The quality of the training offered by different brokers is different. Therefore, it is important to study all the available information about them before studying, to study the feedback of those who have already completed the training course.

The main types of free Forex training

Beginners can get acquainted with the Forex market by choosing one of the types of training offered on the market.

Most often, classes take the following form:

• stationary courses at the company office;
• distance learning in the form of webinars, conferences and other things;
• tutorials and video tutorials on Forex trading;
• independent study of literature.

Stationary courses represent classic learning option. In this case, communication with the teacher occurs directly through live contact.

Distance learning carried out in the form webinars or online lessons. It uses a camera and a program for communication, eg, Skype. Professionals determine the topic of the lesson, set the time for it and recruit a group of people who want to participate. Connection to the lesson takes place via conference calling.

The main advantage of this method of training is the ability to communicate with an experienced trader without having to fly to another city or even a country.

Tutorials and video tutorials Usually they are records of webinars already held or regular videos on certain topics of trading. This method of training allows you to draw a set of specific knowledge.

However, he has a significant drawback: it is necessary to show perseverance, to independently plan your time. In addition, when viewing a recording there is no feedback - the ability to ask a lecturer a question.

Option 1. Stationary training in trading on the exchange from the company "ForexClub"

Broker ForexClub offers to get basic knowledge about the Forex market by visiting free online seminars. The company tried to create the most comfortable conditions that allow a novice trader to form the basis for understanding the trading process and develop their own trading model in order to make a profit.

There are several features of training at ForexClub:

• a free schedule for attending classes (it is important to listen to the entire volume of the course);
• provision of a personal consultant;
• individual explanations;
• the possibility of a personal conversation with the teacher.

To sign up for courses, you should go to the company's website in the section "Training". Next, choose a course and fill in the contact details.

In the near future after sending the application, the company manager will call you back and explain when and where to come. Moreover, seminars are held as in daytimeso in evening time. Therefore, anyone interested can choose the option that suits him.

ForexClub course calculated on 2 weeks. It includes two large blocks: 1)fact-finding and 2)practical.

Introductory stage of training includes several lectures of 90 minutes each. From them you can find out:

• what is the forex market;
• what is part of the trading process;
• basic knowledge of market analysis - what to do to make more profit.

The purpose of the first stage of training is the preliminary training of future traders.When passing it, the participant can decide whether he will continue to study or refuse him.

Second part of training also consists of three classes. To start a practical course, you need to study the theory and pass an exam based on its results.

During the second part of the course, a personal consultant talks about how to use the terminal. Open to participants demo accounts. During this period, the consolidation and development of theoretical knowledge takes place.

Option 2. Online seminars from the Academy of Trading "Masterforex-V"

An interesting option to get basic knowledge about the Forex market is an online project offered by the MasterForex-V Trading Academy.

Information about the courses indicates that they are based on a unique method of teaching the Forex market.

Courses are available for traders in the CIS and Europe.

The success of this training methodology is confirmed by the presence of independent objective ratings and reviews. Among the students of the company, many became successful traders and receive consistently high income from trade.

Our site also has informational material, which tells in detail where to invest at a high interest rate with a guarantee and receive monthly income.

To start training, just sign up for a webinar by visiting the company's official website. After this, the trader is sent 3 electronic publications. It is on their basis that webinars are built.

In the process of classes, the following topics are considered:

• frequently encountered mistakes of novice traders;
• use of indicators for market analysis;
• how to correctly determine the entry point to the market and the moment the position is closed;
• secrets of professional traders.

An important advantage of the training course from MasterForex-V is its complete computerization, as well as the visual presentation of information.

The learning process includes several parts:

1. obtaining basic market knowledge;
2. practical exercises allow to consolidate the acquired knowledge using training trading accounts and practicing practical skills under the supervision of teachers;
3. After successfully mastering the basic course, you can take the advanced course for a fee.

Option 3. Forex training using an interactive tutorial from FreshForex

Confident in themselves and their abilities, beginners can choose interactive tutorials and video lessons as a way of learning.

To date, the best among such offers is considered FreshForex tutorial.

In this manual, materials include a huge number of copyright techniques. Classes are built according to a unique technique, the lessons have a clear understandable structure. Gradually, the complexity of the studied material theory smoothly turns into practice.

In order to save time and at the same time obtain the basic fundamentals necessary to start trading, only the most important information is presented in the self-instruction manual. For easier assimilation of the material, the theory is presented in combination with practical examples.

All strategies presented in the training material have been tested. experienced traders. Therefore, there is no doubt that all the information presented here is reliable.

To check the degree of assimilation of the material, at the end of each topic should pass the test. After successfully completing the material, the student will be given certificate, which confirms that the basic Forex trading rate has been studied.

If you wish, you can subsequently continue to develop the market by visiting paid classes.

In this way, Free Forex Fundamentals - Ideal for a novice trader. Do not forget that trading in the foreign exchange market involves significant risk. By increasing the level of knowledge, you can significantly reduce it. At the same time, training time is not so much.

The table below will help you choose the most suitable training option for a trader:

8. Frequently Asked Questions (FAQ)

Forex market is associated with great interest. Therefore, it raises a considerable number of questions. This is especially true for such a complex and controversial area as market research.

There are a number of questions that are asked almost everywhere by beginners and novice traders. Let's try to answer the most popular of them.

Question 1. Do I need to undergo training in Forex trading or can I immediately start working?

A lot of newcomers, wanting to make a profit as quickly as possible, do not think about where to start. Best case scenario they open demo accounts, quickly merge virtual deposits and become disappointed in Forex, considering it a hoax. At worst - beginners immediately open deposits for real money, which also quickly lose.

However, avoiding the most common mistakes is easy. - It is enough to take classes to learn the basics of trading on the currency exchange. At the same time, training can be useful not only for beginners, but also for experienced traders.

All training programs available on the market can be divided into two large groups: paid and free. Both those and others can be carried out both on a full-time basis, and on a correspondence basis.

In any case, training programs include basic theoretical and practical knowledge, without which the execution of operations in the foreign exchange market resembles a normal casino game.

Important to understandthat passing even the most expensive courses cannot guarantee that a trader will immediately begin to receive a high stable income. For success in the trading process, it is important to possess not only knowledge, but also experience, as well as certain personal qualities.

Some believe that learning is not necessary at all, claiming that all the information is in the books. However, without the help of a mentor, it is difficult to form the necessary view of the market.

In addition, there is a lot of literature, and it is quite voluminous. The material processed and presented in a simpler language is perceived much more easily.

Therefore, for a beginner, the very first step to trading on the foreign exchange market should be training. Only after that you can open an account and start trading.

Question 2. What are Forex indicators and why are they needed?

Developed for Forex a huge number of indicators. Their diversity can be confusing even for experienced traders.

Commonly Used Forex Indicators

However, indicators can significantly simplify trade if you figure out what they have in common and what principles their work is based on.

Indicator is a specific tool for market analysis. It allows you to assess the trend, the mood of the foreign exchange market, as well as determine the levels of opening and closing positions.

Three main types of indicators can be distinguished:

1. Trend indicators the most popular among traders, they are plotted on the chart. With the help of indicators of this type, you can determine where the trend is directed, confirm it or refute it. Trend indicators are easy to understand, they give direct signals to act. Most often use different options. moving averages, alligator, Bollinger bands, etc.
2. Oscillators (they are stochastic indicators) allow you to determine how strong the trend is. These metrics are changing. from 0 to 100. In this case, the value below 20 allows you to judge strong decline in the marketif the indicator value exceeds 80, we can say that in the market big trend uptrend. Oscillators determine the market reversal in advance, so they can quickly understand when the trend will change. Most commonly used RSI and MACD.
3. Psychological indicators allow you to determine the mood of participants in the Forex currency market. It is best to use indicators of this type for analysis in combination with other indicators. Such indicators are not displayed on the chart; they are plotted in separate windows. The most popular psychological indicators are bull to bear ratio, mood indicator, Chaikin volatility indicator.

Thus, indicators greatly simplify trading. But do not blindly believe one of them. Success in trading can be achieved if several indicators are skillfully combined.

Question 3. Can I trust automatic trading programs?

Increasingly, on the Internet you can find ads on the sale of robots for trading in the Forex market. Most traders sooner or later wonder: maybe you should give trading to robots, if it really brings income. To answer it, it is important, first of all, to understand what robots are.

Robots - This is an automated trading program that uses indicators to open or close positions or a statement about the cyclical nature of the market (their creators believe that the schedule necessarily repeats its movement in the past).

At the same time, professionals know that indicators act only within the framework of the logic that underlies their creation. Moreover, the market is far from always logical. Cyclicity inevitably changes.

So do not blindly trust robots. Until now, experienced traders conduct a thorough market analysis and trade on their own.

Question 4. Is it worth trading on the news?

You can often hear that only newcomers in the Forex area trade on the news. Allegedly, fundamental factors are used only by those who do not have enough experience in technical analysis. At the same time, professionals do not use trading on the news, as it is often spontaneous and unpredictable.

It is believed that with sufficient knowledge and experience it is much easier to trade using technical analysis.

However, you should not completely abandon the use of news in the trading process. They can also be beneficial if used wisely.

It should be understood that not so much news is important as how the market will react to it. Often you can earn even more from expectations than from the time the news came out. That is why it is better to trade not at the moments of the news release, but when forecasts of relative future developments. It is important to use pending orders, as well as levels Stop loss and Take profit.

The danger of trading on the news lies in the sheer volume of information flow. It is impossible to track absolutely all events, and the market, however, can react to them.

It turns out that a clear answer to the question of whether to use the news in the trading process does not exist. Each market participant chooses an acceptable trading strategy for him in accordance with their beliefs and preferences.

9. Conclusion + video on the topic

Summing up, it can be noted that training is an important stage in the start of trading. It is in the course of studying the fundamentals of the Forex market that the foundation of knowledge is laid, without which impossible dispense with the future.

We also recommend that you watch the Forex trading tutorials for beginners from scratch, eg, from the company Forex-Market.

Start with the 1st video tutorial:

It should be understood that this article is only little introduction to the world of trading. We tried to set the tone and direction, suggest where to move on.

We wish you good luck in such an interesting and difficult matter - trading on the currency exchange. We hope that this publication has become useful to you and helped at least a little better understanding of the Forex market.

We will also be grateful if you rate and comment on this material. See you soon on the pages of the financial magazine Rich Pro!

Watch the video: Professional Forex Trading Course Lesson 1 By Adam Khoo (December 2024).