The Free Forex Trading Course
Free Forex Trading Training - Key Concepts To Technical Analysis
Whether you are a swing trader, trend trader or day trader, knowing these concepts will give you a powerful edge in analysing market action. This Forex Trading Course has been broken down into 5 major areas to make it easier for you to get through and understand.
The Free Forex Trading Training Course
The content has been broken down by areas that you will need to understand when it comes to analyzing market action. There is a lot of currency trading information outlined in this course so remember to bookmark this page and come back to it when you have more time.
- Understanding The Big Picture of How Forex Markets Move
- How to Identify the Trend in Forex Currencies
- How to Identify Support and Resistance Levels
- Using Forex Price and Chart Patterns to determine trends and reversal points
- How to use Fibonacci Extensions to determine potential Price Targets
1. Understanding The Forex Currency Markets:
The lessons in this section will give you an insight into how forex currencies (and all financial markets) move through different stages and cyles.
Understanding this will help you identify the bigger picture of what the market is currently doing, and thus give you better chances of using the right trading strategy and system for success.
- Market Analysis
- Understand and identify the four stages that every market goes through.
- Using this to determine which forex strategies and trading systems to use based on current market action
- Market Price Action
- Price can only move in so many ways. Once you know this, you can anticipate what will probably happen in terms of market action
2. Identifying The Trend In Forex Currencies:
The lessons in this section help you to identify the current trend in the forex currencies. The same principles can be applied to any time frame, and are useful for having several ways to identify the current trend, and trade in the direction of the trend. When you trade in the direction of the prevailing trend, you immediately increase your chances for profit.
- Forex Trends – Using Price
- Identify the forex trend using price action alone
- By identifying the trend, you can take advantage of market momentum to make profit
- Forex Trends - Using Moving Averages
- What Moving Averages REALLY do
- How to use Moving Averages to identify the Short, Medium and Long Term Trend
- Forex Trends - Drawing and Using Trend Lines
- How to draw Trend Lines to determine if the market is trending up or down
- How to identify potential areas of Support and Resistance using the Trend Line
- How to identify when the trend has changed using Trend Lines
3. Identifying Forex Support and Resistance Levels:
The lessons in this section will help you identify Support and Resistance levels in the forex currencies. Tremendously helpful in identifying which are the levels that prices will most likely bounce off. And if prices break these support and resistance levels, you’ll know which direction to trade in!
- Historical Price Support and Resistance Levels
- Use past price levels to identify support and resistance levels.
- Learn how to identify where buyers and sellers are most likely to enter the market causing price reversals.
- And if these levels are broken, which direction buyers and sellers are most likely to push prices.
- Fibonacci Retracements
- Identify potential levels where prices can find support and resistance.
- Fibonacci retracements help identify potential turning points, sometimes ahead of historical price support and resistance levels.
4. Forex Price and Chart Patterns:
Lessons in this section help you to identify price and chart patterns. By understanding these price patterns, you can identify reversal points on the chart for trading with the trend, off support and resistance, and even for drawing Fibonacci Retracements and Fibonacci Expansions.
- Japanese Candlestick Charting
- Learn the basics of candlesticks, and what they mean.
- Useful for identifying short term price reversals off support and resistance levels.
- Also good for having an insight into the emotional behavior of buyers and sellers, and how their emotions show up on the charts.
- Swing Trading
- Identify swing points (a.k.a. Swing Pivots) for price reversals.
- Useful to learn in Swing Trading, drawing Fibonacci Retracements and Fibonacci Expansions (Price Projections).
5. Identifying Potential Forex Price Targets:
In this section, you can learn how to identify potential price targets to exit your trades. And if you still want to maintain a position, you can exit partial positions at these levels. Also useful for identifying possible rewards for the risk you are taking on that particular trade.
- Fibonacci Extensions
- Use Fibonacci Expansions to find price targets.
- Useful for having an idea of what reward to expect, for the risk you are taking.
- Also useful in identifying potential price levels where you might want to take partial positions off the table to lock in some trading profits.
Forex Trading Course In Summary
Going through this currency trading training course will give you an introduction to many of the key technical analysis concepts in forex trading. It will give you a solid understanding of how the forex markets move and save you years of going through a lot of fluff that basically tell you the same things.
Do you have to go through a real forex trade training you in how to make money in the forex markets?
There is nothing like real live trading experience to find out what it's like. But I definitely recommend that you test out simulated forex trading first before going live. More so to get a handle on your forex strategies and how your trading platform works.
If your forex strategies can't even survive the simulated trading environment, it's hard to imagine it being profitable in the real world of forex trading.
Forex Day Trading Training
Smart Trading For Profits reviews as many of the better forex trading systems available in the market to find good forex systems that work. These reviews are published to this site so that others can discover for themselves which systems suits their trading personality and constraints best.
For forex day traders who prefer to manually manage their trades, check out our review on 4x Pip Snager.
For forex traders who prefer to have their trading handled by forex trading robots, check out Forex MegaDroid.