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Yes, Give it to me

Currency Trading for Dummies 

 May 24, 2018

By  Rayner

I know it can be overwhelming when you’re new to Forex Trading… trying to navigate around this “shark infested waters”.

And it doesn’t help when you google “Forex Trading” and get back 151,000,000 results.

Lol, how the f*** do you even start?

That’s why I’ve created Currency Trading for Dummies, a FREE 12-part trading course that teaches you the essentials of Forex Trading.

This means you can focus on the stuff that matters and ignore the fluff out there — and stop wasting time going around in circles.

Here’s what you’ll learn:

  1. What is Forex Trading and how does it work
  2. What are the major currency pairs
  3. When is the best time to trade Forex
  4. Common Forex Trading terminologies
  5. What is a Forex lot size
  6. What are the different types of Forex orders
  7. How to read a Forex chart
  8. What are the different types of Forex charts
  9. What are the different types of Forex Analysis
  10. What are the different types of Forex trading strategies
  11. What are the different types of Forex brokers
  12. How to choose a Forex broker

Are you ready?

Then let’s begin…

Currency Trading for Dummies #1: What is Forex trading and How Does it Work

Welcome to video #1 of Currency Trading for Dummies.

This is a free (step by step) trading course that teaches you the essentials of Forex trading — especially for those who have little to no trading experience.

Currency Trading for Dummies contains 12 videos and by the end of it, you’ll learn how the Forex market works so you can trade it with confidence.

Now…

In this 1st video, you’ll learn:

  • What is Forex trading and how does it work
  • Who trades Forex and the biggest players in the market
  • Why you should trade Forex instead of Stocks

Are you ready to start your Forex trading journey?

Then go watch this video right now.

Currency Trading for Dummies #2: What are the Major Currency Pairs

Welcome to video #2 of Currency Trading for Dummies — what are the major currency pairs.

In this 2nd video, you’ll learn:

  • What are major currency pairs
  • What are cross currency pairs
  • What are exotic currency pairs

Are you ready to learn about the different currency pairs?

Then go watch this video right now.

Currency Trading for Dummies #3: When is the Best Time to Trade Forex

Welcome to video #3 of Currency Trading for Dummies — when is the best time to trade Forex.

In this 3rd video, you’ll learn:

  • When is the best time to trade Forex
  • Which is the best day to trade Forex
  • The different Forex trading sessions and why it matters

Are you ready?

Then go watch this video right now.

Currency Trading for Dummies #4: Common Forex Trading Terminologies

Welcome to video #4 of Currency Trading for Dummies — common Forex trading terminologies.

In this 4th video, you’ll learn the common Forex trading terminologies like:

  • What is a pip
  • When is long and short
  • What is the bid/ask spread
  • How does leverage and margin work

Are you ready to master the Forex lingo?

Then go watch this video right now.

Currency Trading for Dummies #5: What is a Forex Lot Size

Welcome to video #5 of Currency Trading for Dummies — what is a Forex lot size.

In this 5th video, you’ll learn the different Forex lot size like:

  • What is a standard lot
  • When is a mini lot
  • What is a micro lot
  • What is a nano lot

If you’re ready to learn about Forex lot size, then go watch this video right now.

Currency Trading for Dummies #6: The Different Types of Forex Orders

Welcome to video #6 of Currency Trading for Dummies — the different types of Forex orders.

In this 6th video, you’ll learn the different types of Forex orders like:

  • What is a market order
  • When is a limit order
  • What is a stop order
  • What is a stop loss order
  • The pros and cons of the different types of Forex orders
  • How to use the different types of Forex orders correctly

Are you ready to learn?

Then go watch this video right now.

Currency Trading for Dummies #7: How to Read a Forex Chart

Welcome to video #7 of Currency Trading for Dummies — how to read a Forex chart.

In this 7th video, you’ll learn:

  • How to read a Forex chart
  • How to enter a buy/sell order
  • How to use the different order types
  • How to determine the spread on a currency pair

Are you ready?

Then go watch this video right now.

Currency Trading for Dummies #8: The Different Types of Forex Charts

Welcome to video #8 of Currency Trading for Dummies — the different types of Forex chart.

In this 8th video, you’ll learn the different types of Forex charts like:

  • What is a bar chart
  • What is a line chart
  • What is a candlestick chart

Are you ready?

Then go watch this video right now.

Currency Trading for Dummies #9: The Different Types of Forex Analysis

Welcome to video #9 of Currency Trading for Dummies — the different types of Forex analysis.

In this 9th video, you’ll learn:

Ready to explore the different ways you can analyze the markets?

Then go watch this video right now.

Currency Trading for Dummies #10: The Different Types of Forex Trading Strategies

Welcome to video #10 of Currency Trading for Dummies — the different types of Forex analysis.

In this 10th video, you’ll learn:

Ready to explore the different ways you can trade the markets?

Then go watch this video right now.

Currency Trading for Dummies #11: The Different Types of Forex Brokers

Welcome to video #11 of Currency Trading for Dummies — the different types of Forex analysis.

In this 11th video, you’ll learn:

  • What is a market maker
  • What is a STP and ECN broker
  • What is a dealing desk and non-dealing desk
  • Which type of Forex broker should you go with

Are you ready to learn about the different types of Forex brokers?

Then go watch this video right now.

Currency Trading for Dummies #12: How to Choose a Forex Broker

Welcome to video #12 of Currency Trading for Dummies — the different types of Forex analysis.

In this 12th video, you’ll learn:

  • How to choose a good Forex broker
  • The 4 things you must look for in any Forex broker
  • How to protect yourself if your Forex broker treats you unfairly

Are you ready for this final lesson?

Then go watch this video right now.

Frequently asked questions

#1: Can I apply all these that I’ve learned on this post to other markets like indices, commodities, oil, metals, etc.?

You could apply most of these concepts to the other markets, especially if those concepts involved technical analysis.

However, certain market micro-structure details can’t be blindly applied like the pip value, the lot size, opening and closing hours, etc. Those differ across various markets and can’t be applied to other markets like the CFD or stock markets.

#2: Hey Rayner, I’ve also seen DMA frequently. What is the difference between DMA, STP, and ECN?

Direct market access (DMA) is usually for stocks or futures.

Straight through processing (STP) and electronic communication networks (ECN) are more for forex and CFDs.

If you want to discover these different types of brokers, you can check out this blog post where I covered them in greater detail.

Congratulations!

You’ve made it to the end of Currency Trading for Dummies.

I hope you’ve enjoyed it as much as I’ve enjoyed producing these videos for you.

Now before we end things, I’ve got a question for you…

Why do you want to be a Forex trader?

Leave a comment below and share your thoughts with me.

  • You are very good for giving these kind information free . YOU are awesome.

    l have a question and it like this- can l apply these procedures l have learnt on this post to other kind of trade like indices, commodities, oil, metals etc ?

    l need your response, pls.

    thanks

    • I don’t publicly discuss brokers because in this day and age, we have no idea what goes on behind the scenes.

      If you want a recommendation, drop me an email me and we can discuss it.

  • Hello Rayner , besides MM , ECN , STP ,.. i frequently see DMA ….

    what is the difference between DMA and STP or DMA and ECN

    Among many forex regulators , which one is strictest ?

    thanks

    • Direct market access is placing an order directly in the market.

      It’s usually for stocks or futures where there’s a centralized exchange.

      STP, ECN, and MM are more for Forex and Cfds.

      I can’t say for sure which regulator is the strictest.

  • I’ve an entirely different system from yours (I use Ichimoku & Fibo) but I must say I’m impressed with your dedication to teach beginner traders out there. Kudos to you and may you exceed your goals in life! Cheers!

  • Thank you, it is a good course for beginners, but there is a lot of information that we pass over time, excellent for reviewing concepts that we neglect and are important.

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