aded or exchanged, 24 x 5 from Monday to Friday. Over USD 5.3 Trillion are traded every day in forex markets, thus earning the name of one of the most liquid markets across the globe
Online Forex Trading.
Are you a beginner in forex trading? Do you want to learn how to trade confidently? If your answer is ‘yes’, you have come to the right place. At Shaw Academy, the experts will not only guide you on the foundation of your trading, which focuses on forex trading for beginners, but also help you understand the tradable instruments, such as, forex, indices, commodities, individual stocks etc.
How to trade forex for beginners
If you are a beginner in forex, you will have to shell out about $50 to open a micro account and get started. However, you need to understand the basic forex market terminologies like the following:
PIP: A pip is the lowest price change in a particular forex market when trading. It’s normally exchanged in increments of 0.0001 (1 Pip). However, the Japanese Yen is one of only a few currencies which is exchanged in increments of 0.01.
Cross currency pair: This refers to the pair of currencies exchanged in the market without including the US Dollars.
Currency pair: The pricing format and the quotation of the currencies exchanged in the market is known as the currency pair. A currency’s value is decided by comparing the value of another currency.
Base currency: Base currency, also referred to as the accounting currency or the domestic currency, is the initial currency cited in a currency pair on forex.
Quote Currency: This is the next currency, after base, cited in a currency pair on forex. This currency is also called the counter or the secondary currency.
Forex for beginners can be very interesting once you understand the basic terminologies of the market and learn the know-how of trading forex for beginners.
Online forex trading for beginners
Today with the online courses getting popular because you can learn from the comforts of your home and at your own flexible time, many new forex traders are keen on signing up for online forex training for beginners.
Shaw Academy offers forex trading course for beginners, where the industry-experts will guide you into the world of forex market and make you learn how to trade confidently. Once you are through with the course you will learn the following:
An expert in reading charts
Know at what point to enter and exit the trade
Know the exact reasons behind why the market is moving up or down
Learn to build your strategy which will make you profitable in over a month
Forex trading tips for beginners
Here are a few tips that will help you as a beginner:
Interacting with other forex traders will help you learn faster.
Trying and looking at everything realistically will help you have a profitable strategy.
Getting emotional will not help, so try to keep your emotions under control.
Choosing a methodology and following it consistently will help.
Focussing on your goals and learning to accept small loses is important.
Want to learn more on forex trading? Enrol today for the Foundation Training Programme at Shaw Academy and start learning!
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