Forex Trading Introduction
The foreign exchange market is one of the most exciting, fast-paced and never sleeping / resting markets all over the world. Until a decade ago, foreign exchange trading in the currency market had been the domain of large financial institutions, central banks, large corporations, hedge funds and extremely wealthy individuals. The emergence of the internet and online brokerage accounts has changed this scenario. Now it is quick and easy for an average investor to buy and sell currencies from anywhere in the world with the click of a mouse.
What is Foreign Exchange Trading?
The foreign exchange market is the “place” where various currencies are traded. We need to exchange currencies in order to conduct foreign trade and business. It is like learning to speak a new language. When we have a good vocabulary and understanding of basic concepts, it’s easy to learn the new language. Forex is commonly used abbreviation for the term ‘Foreign Exchange’.
What is the ‘Foreign Exchange Market’?
The foreign exchange market is not dominated by any single exchange market; rather it is majorly operated by brokers and a global computer network all around the world. Through open market activities, the Central banks use their buying and selling capacities that helps alter the prevailing currency exchange rates. They do so with or without any profit motive and sometimes for their policy reasons. The foreign exchange broker (also known as one of the market makers) posts ‘bid and ask’ prices for a pair of currency that differs from the prevailing competitive bid in the current market.
Are you involved in foreign exchange trading directly or indirectly?
The forex market is the largest and most liquid financial market. Daily activity often exceeds $4 trillion US Dollar per day, with over US$1.5 trillion of that conducted in the form of spot trading. You might have used forex market earlier directly or indirectly. For example, whenever you take a foreign trip and exchange currency, you make a forex transaction. When you buy a product (made in some other country) from a local shop; you pay in your own currency and the manufacturer was paid in a different currency; this is also an example of forex transaction.
How does a ‘Foreign Exchange Market’ work?
The foreign exchange market is a virtual market place where participants buy, sell, exchange and do speculation on various currency pairs; in short, they trade various currencies in this virtual market. The forex market participants include retail forex brokers, banks, investment management companies, central banks, hedge funds, commercial companies and investors.
Forex Trading Course Description
This Foreign Exchange Trading training program focuses on Foreign Exchange Markets and its participants. You will also be learning about major currencies and their importance. Each of these modules in the Foreign Exchange Trading course provides in-depth knowledge of the concepts.
- Introduction to foreign exchange trading – This is an introductory section where you understand the basics of Foreign Exchange Trading which includes understanding the basic concepts, details of dollar index, market participants. This section also helps you understand why to trade in foreign exchange markets and different types of quotes and order types, and what is buy and sell in forex market.
- Fundamental Analysis – This section explains the concept of fundamental analysis and economic indicators affecting forex market.
- Technical Analysis – This section helps you understand what is meant by technical analysis, moving average indicators and Euro – USD daily chart.
- Practical Examples using trading websites – In this section you will learn to use the indicators practically, how to use economic indicators, technical tools and news for your maximum benefit.
- Money Management – Here you will learn to use forex trading to achieve your financial goals and money management.
What are the requirements / pre-requisites to learn Foreign Exchange Trading?
This unique Foreign Exchange trading course from eduCBA starts from the scratch and hence prior knowledge is not necessary. Any individual with basic knowledge of computers can learn Foreign Exchange Trading. You need a computer with good Internet Connection.
Target Audience for this training
eduCBA brings you the course in Foreign Exchange Trading. This course is completely targeted for all those who want to understand the forex markets and the trading which happens in the forex markets. In this course you will learn in detail about investing in forex market.
Forex Exchange trading is beneficial for anyone who wants to deal with foreign exchange. It is ideal for professionals, students as well as each and every individual who is interested in understanding foreign exchange trading. You can also take forex trading as a career option after learning it thoroughly.
FAQs – General Questions
Is it difficult to learn about Foreign Exchange Trading?
Sometimes investors get frustrated, they lose their capital and optimism in the foreign exchange market. It happens because they lack knowledge about the difference between equity market and currency market. In equity market, the transaction ends with transfer of ownership, whereas the currency market is governed by speculation; no actual transfer of ownership takes place. EduCBA brings online forex trading for your convenience. This course from EduCBA helps the trainee get over the learning curve. This unique course is equivalent to any distance learning course from a university. The course is very well explained with the help of eBooks, Power point presentations, charts, practical examples and trading simulations. This course is a boon for a beginner with limited forex knowledge.
Why should I learn forex trading?
Online forex trading offers many advantages to the traders:
- Low trading costs in forex market compared to other markets:
Most forex accounts trade without a commission and there are no expensive exchange fees or data licenses. The cost of trading is the difference between the buy price and the sell price, which is always displayed on your trading screen.
- Forex market works day and night:
Every country has different business hours. So trading is always going on in one or more countries at any given point in time. There is some movement at almost any given time and since there are no fix exchange hours; the trader can trade majority of currencies 24 hours a day.
- Unmatched liquidity:
Forex is a high liquidity market because it is a $4 trillion market (per day), with most trading taking place in few popular currencies and many traders trading at the same time; which makes it easy for a trader to get in and come out at any given time, even in large quantities.
The trader can significantly benefit from this high liquidity market. He can increase his profits or losses at the same time.
- International exposure:
If a person wants to invest in other country, it is a good opportunity to gain from foreign markets without facing hurdles of foreign securities laws and language problems.
- Easy buy and sell:
It is very easy and quick to buy in sell in forex market.
I don’t own any foreign currency; can I still trade in forex market?
Yes, because you don’t trade actual currency in the forex market. The retail forex market is purely a speculative market; no physical exchange of currencies ever takes place. All trades exist simply as computer entries and are netted out depending on their current market price. For dollar-denominated accounts, all profits or losses are calculated in dollars and recorded as such on the trader’s account.
“This online Foreign Exchange trading course from eduCBA provided me a heightened degree of confidence in my trading decisions, allowing me to reduce the misleading and often confusing signals that are generated by market indicators.”
“I took this forex trading course from eduCBA out of curiosity, and was surprised by the quality of the training material. It was easy to understand, and the explanations were simple and very accurate. I recommend this course to those who want to make a successful career in forex trading.”
“The forex trading course from eduCBA was really helpful for me to meet my financial goals. I took this online course which was very helpful, because of live training and practical examples. I hold a masters degree in business administration but was not confident to trade online in the forex market. Practical learning during the course was excellent and it helped me grow professionally.”
Career Benefits of this training
The forex markets can be an exciting and lucrative market to trade if you thoroughly understand how to buy and sell currencies. If you’re drawn to this area, you might even want to make it your career. You can choose from many career options:
- Currency Researcher / Forex Market Analyst / Currency Strategist
Trading in lucrative forex market can be exciting only if you understand how the market works and how to trade in the market. After learning this online course, you can choose from many career options:
- Professional Trader / Account Manager / Institutional Trader
If you have been consistently trading forex successfully on your own, you have enough experience to become a professional forex trader. Hedge funds and currency mutual funds are always in a search of a professional to manage trading.
- Exchange Operations Associate or Manager / Forex Trade Associate
The forex brokers need professionals to provide service to various accounts or clients, and there are numerous work-profiles to provide high level customer service and require forex knowledge.
- Forex Software Development / Manager
Various user friendly software are developed by professionals for broker firms. Account holders use these software to access currency price data, use various indicators and charts to make further trading decisions and to make online forex trading transactions.
As other markets, Forex market is not untouched by frauds. A person can work as a regulator and help prevent any fraud in the industry. Professionals are hired by regulatory bodies both in public and private sectors all over the world.
|Where do our learners come from?|
|Professionals from around the world have benefited from eduCBA’s Trading – Foreign Exchange Trading Courses. Some of the top places that our learners come from include New York, Dubai, San Francisco, Bay Area, New Jersey, Houston, Seattle, Toronto, London, Berlin, UAE, Chicago, UK, Hong Kong, Singapore, Australia, New Zealand, India, Bangalore, New Delhi, Mumbai, Pune, Kolkata, Hyderabad and Gurgaon among many.|