Your Forex Trading Academy

The purpose of this trading academy is to provide the wannabe trader with all the necessary tools to succeed in the forex markets, and to offer experienced traders new trading tools for the everyday experience in these markets.

QUICK LINKS.Forex basics The fundaments – Theories in FX trading – Forex analysis types – FX indicators How to read them – Manage risk Trade safely

Basics of Forex Trading

The learning process should always start with basic things to know when it comes to forex trading, like what is a currency pair, how are currency pairs divided, the notion of a pip, why do we need a broker, what trading platforms to be used, and, in general, everything there is to know to start forex trading from scratch.
Moving forward, it is mandatory to know what really moves a market, and this is becoming clear by the time the difference between fundamental and technical analysis is understood. While technical analysis allows one to forecast prices on the right side of a chart based on interpreting past patterns and price formations, fundamental analysis represents the actual reason markets are moving.
A forex trader should take advantage of all the trading tools available and technical indicators are being widely used. As you probably guessed by know, this is technical analysis, and indicators are being divided into two main categories: trend indicators and oscillators.
The most important trend indicators and oscillators are covered here, starting with the main interpretation and ending with how to actually trade them in order to profit from the moves in the forex market.
There are many ways to trade and different trading theories out there that in time proved to work and it is important to know that every trader has a different trading style and expectations. Therefore, some traders find a specific theory to work best for their personalities and expectations, while other traders find comfort in another approach. To give you an example, there are traders that trade only based on technical indicators, while others are using concrete and exact levels for entering and exiting markets.

Forex Trading Theories

Here we listed the most important trading theories that exist and are mandatory for any serious trader to know, starting with a fascinating one, Elliott Waves theory.
Under this theory, not only that one can know in advance where the market is supposed to go, but also these moves can be timed. It is one to know where a market is going but if you are able to put a time element on that move, then the holy grail in trading is achieved: price and time.
Elliott Waves is the only theory that allows such a thing, and for this reason, it is so well represented in this trading academy. The theory is so wonderful in its simplicity that exactly this is making it so complex. It is a saying that every trader has a different Elliott count, but this is true only for the unprepared ones, as applied correctly, Elliott theory always works.
Besides Elliott, trading theories like the ones of W.H. Gann and Gartley are also popular, and here you’ll find out the basics of those theories as well as some pros and cons.
Any forex trading academy should explain what a pitchfork is and how to trade markets with it, and this one is no different. Andrew’s Pitchfork is a vital tool to successful trading, and our approach here starts with setting the pivots, the most important thing, and continues with the all-important median line and Schiff line.

While everything discussed above is part of the Western approach to technical analysis, in recent years the Japanese approach became more and more interesting as traders discovered new and interesting ways to interpret market moves based on candlestick formations.
Japanese candlestick techniques are a must for a trader and the most important continuation and reversal patterns are represented here.
When it comes to technical analysis, patterns are very well represented in the sense that one can forecast a price based on them. The most important trading patterns are being approached here, not only from a theoretical point of view but from a practical one as well, with clear entry and exit strategy to profit from forex trading.
How about fundamental analysis? What are the most important things to consider?
This academy explains the economic calendar, what events to watch and how to interpret them, as well as why currency pairs are in fact mirroring an economy. Economic events as being presented in the economic calendar are in fact depending on one and one thing only: what the central bank will do when it meets to decide on interest rates. This is why interest rates are key to fundamental analysis and more details are to be found on our designated articles here.

Risk Management and Market Psychology

Perhaps the most important part of this trading academy is dedicated to money management and market psychology.

All of the technical and fundamental aspects, while mandatory when trading forex markets, are of no good if proper and solid money management rules are not followed strictly. Discipline, patience, and the gut to take a trade or to close one are key and few people master them.
After all, trading is risk management above all: how to manage the risk of losing a trading account before making a profit. These steps, in this order, are all that matter when trading.
Market psychology has a very strong correlation with money management as they go hand in hand. Markets are not necessarily moving up in a bullish environment, or down in a bearish one, as well as it is not mandatory for a currency to move up on a positive economic release or down after a negative one.
A strong understanding of market psychology will make a huge difference between a successful trader and one that still struggles with trading.
This academy has everything you need to know when it comes to forex trading and we like to think we’ve put together here a comprehensive course for all traders.
Below is a detailed list of what is being covered, but above all, one should keep in mind that these are not only theoretical aspects. The aim here is to provide not only the concepts but to show how to actually take a trade, starting with entering a market and ending with where to place stop losses and take profits.

All in all, understanding these concepts and how they work will prepare a trader for one of the most interesting journeys: to profit from forex trading on the way to financial independence.

Important Economic Meetings and Events

Economic Calendar	FED/FOMC Meetings	OPEC Meetings	ECB Meetings
RBA Meetings	BoJ Meetings	SNB Meetings	BoE/MPC Meetings

Popular Forex Currency Pairs

EUR/USD Trading	USD/JPY Trading	AUD/USD Trading	EUR/JPY Trading	XAU/USD Trading
USD/CZK Trading	EUR/GBP Trading	AUD/JPY Trading	USD/CAD Trading	GBP/USD Trading
NZD/USD Trading	EUR/AUD Trading	BTC/USD Trading	CNY/USD Trading

Other Major Forex Currencies

Australian dollar	Brazilian real	Bitcoin	Canadian dollar
Swiss franc	Chilean peso	Chinese yuan	Danish krone
Hong Kong dollar	Indian rupee	Japanese yen	South Korean won
Mexican peso	Malaysian finggit	New Zealand dollar	US dollar
Euro	British pound	Norwegian krone	Pakistani rupee
Polish zloty	Russian ruble	Swedish krona	Singapore dollar
Thai baht	Turkish lira	Taiwan dollar	South African rand

Major Markets

CAC 40 Index	Euronext	FTSE 100 Index	FTSE AIM All-Share Index
FTSE All-Share Index	Dow Jones Industrial Average	NASDAQ	Paris Stock Exchange
S&P 500	S&P/TSX Composite Index	Toronto Stock Exchange	Australian Securities Exchange
LSE – London Stock Exchange	New York Stock Exchange	Japanese Exchange Group

A clear understanding of the concepts covered here gives you a glimpse into what forex trading is and how to profit from currency market moves. We hope that these educational articles help you be a better trader and offer everything a trader needs to know both from a fundamental as well as from a technical point of view.
Happy trading!

Related Articles

Frequently asked questions (FAQs)