Learn Forex for Beginners to Pros

 learn forex trading

Learning forex aims to know the ins and outs of foreign exchange or what is popularly known as foreign exchange, aka foreign currency.

Learning forex is different from trading on forex. At the learning stage, you are not necessarily trading in forex, especially for beginners.

The definition of forex is trading foreign currencies. Forex trading involves certain currency pairs that are selected and can be traded according to certain conditions to achieve maximum results.

Learn the basics of forex

Even deeper than learning forex beginners, there are materials that you can learn. If you already understand the material for beginners, you can continue learning the basics of strategies that you can apply when trading.

1. Strategi Trendline

There are two strategies that you can apply in the first way to learn forex, namely:

  • Bounce Trading: This trading method takes advantage of the price bounce when the price has reached support or resistance and bounces from there.
  • Breakout Trading: If on bounce trading you are waiting for a bounce to buy or sell, in the breakout strategy you instead take advantage of a break of support and resistance with the assumption that a break of support or resistance tends to be followed by a rally.

2. Fibonacci Retracement

Fibonacci Retracement is one of the most popular tools, both among forex and commodity traders.

In learning forex, this tool provides information such as support/resistance that other forex indicators don't have.

How to use Fibonacci Retracement itself is quite easy. This indicator will highlight areas where the pullback can reverse direction towards the trend and then help confirm the entry point if using a trend trading strategy.

In general, Fibonacci helps trading by isolating pullbacks when they are about to end. By taking advantage of situations like this, traders will get an estimated entry point to immediately take the opportunity to trade.

This ratio calculation produces numbers that can help traders determine entry and exit levels.

3. Moving Average

Moving Average is one of the most popular technical trading analysis tools used by traders around the world. Useful for those of you who are learning forex.

In general, moving averages are techniques you can use in trading to smooth price changes in the forex market over some time. With this technique, the process of buying and selling currencies that you do will be easier and smoother.

4. Bollinger Bands

Bollinger Bands are a well-known technical indicator for use in trading. 

Many traders recognize the Bollinger Band as the basic key so that the trades they make are always profitable.

Those of you who are learning forex need to know the indicator in the form of a line drawn in and around the structure of the price movement of a commodity/share being traded. Bollinger Band will show the relative limit of price increase or decrease.

Initially, this indicator was developed by a famous technical trader named John Bollinger. The origin of the Bollinger Band indicator stems from a personal experience that was poured into microcomputers in 1977.

5. Commodity Channel Index

The Commodity Channel Index is a technical analysis indicator developed and used to identify cyclical trends in an instrument.

Initially, this indicator was used to analyze the direction of commodity prices. Then it developed into one of the most popular and widely used indicators for analyzing the movement of the stock index and forex (currency).

6. Stochastic Oscillator

Among traders to beginners who are learning forex, the Stochastic Oscillator is one of the most popular indicators to date. 

The reason is, this indicator among traders including beginners because it is easy to understand and use.
The Stochastic Oscillator can give a clue when the best time for traders to buy or sell. Simple!

7. Relative Strength Index (RSI)

This indicator was developed and introduced in 1978 by J. Welles Wilder, Jr. who was a mechanical engineer.
Even so, he is better known as a technical analyst who gave birth to several well-known indicators besides the RSI. This RSI indicator is almost similar to the Stochastic indicator that we have studied before.

8. MACD

This indicator was introduced by a doctor in the United States named Prof. Gerald Appel in the late 1970s.
This technical indicator called Moving Average Convergence Divergence (MACD) has become a powerful weapon in the arsenal of traders.

This indicator is used to confirm the strength and direction of the trend, as well as to determine the point of reversal. 

Also, MACD can provide information on whether the trend is strong enough or not.
Trading on Forex can encourage people to stay up late. Have health protection so that trading profits are not used for medical expenses when sick

Learn advanced forex

1. Candlestick Pattern

Candlestick Patterns are popular with many traders because they show prices. Visually, candlestick charts are easy to understand and the information presented in each candlestick is quite complete including the opening price, lowest price, highest price, and closing price.

2. Price Pattern

Price Pattern is a pattern that arises from price movements that occur in the forex and commodity markets where certain patterns will appear again.

In forex and commodity trading, the term History repeats itself is known, which means history repeats itself.

By studying and recognizing Price Patterns, you can predict the next price movement when a pattern appears.

Learn forex for pros

Have you entered the pro class! In this section on learning forex, there are four things you should know.

Two of them in the forex learning category for pros are trading psychology and risk & money management.

If you are familiar with the previous three materials, let's take a look at four things about learning forex for pros.

1. Blending indicators

Combining indicators can help you find different perspectives on price movements.

Besides that, you also have to be able to take advantage of patterns. In simple terms, you only need to recognize the patterns that appear to predict the next price movement.

2. Build a trading plan

The point is, as a trader, you don't just follow what other traders are doing.

There's nothing wrong with following other people's opinions or what they do. But you still have to have your risk tolerance and targets.

Have your trading plan. Customize your character as a trader. Don't forget to keep your knowledge and experience updated by studying the market.

3. Risk & Money Management

Risk is a factor in every business that will always be faced. The form of risk that is often faced by business people is a loss. To be reliable, in learning forex, you also need to know what is called risk and money management.

To maximize the profit opportunities that exist and at the same time minimize the occurrence of the risk, risk management is needed or commonly known as risk management.

With this risk management, you can exercise full control over your money. That way, you can accept the losses that may occur when you trade.

4. Trading psychology

Trading activity at any level generally involves emotions. Whether it's gain or loss.

Learning forex this last one requires the maturity of a trader.

Mastery of your emotions is important in forex. This is what is called trading psychology.

Many traders are not very good at calculating but can reap money from the market. It is the consistency of this trading psychology that helps him make a profit.

Many traders also fail because they can't control their emotions!

Forex trading opportunities and risks

What are your chances as a forex trader? Then what is the risk of loss?

Correct trading can lead you to money. If it's wrong, it can bring about losses.

Let's take a look at the following reviews so you are ready to become a trader!

Advantages of forex trading:

Here are the potential advantages of investing in forex.

  • You can start with limited capital because there is leverage & contract size
  • Can be done from anywhere and anytime (online and market 24 hours x 5 days of opening)
  • Practical with auto-trading feature
  • You don't have to be online all the time because it can be a side job
  • Relatively low cost
  • Provide additional income
  • Before jumping into the direct market, you can practice first with a demo account.

Forex trading risk:

Here are some things that are forex risks and you need to be aware of.

  • Tempted by leverage or facilities provided by the broker
  • Choose the wrong broker. It could be unregistered and illegal
  • Currency volatility.

0 Response to "Learn Forex for Beginners to Pros"

Post a Comment

Iklan Atas Artikel

Iklan Tengah Artikel 1

Iklan Tengah Artikel 2

Iklan Bawah Artikel