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BASIC TRADING COURSE
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BASIC TRADING COURSE
What is FX Trading 📊
Foreign Exchange (FX) Market-> is the global marketplace in which the currency of a nation is exchanged for that of another
at a mutually agreed rate.
Currencies are traded worldwide in four major financial centers in different time zones:
London, New York, Sydney, and Tokyo
Unlike stocks or commodities, there is no central exchange for trading forex. Instead, currencies are traded via an electronic global
network of banks, dealers, and brokers.
As a result, the FX market is open 24 hours a day, 5 days a week, only closing down on the weekend
It is a decentralized network of buyers and sellers, that allow individuals, institutions, and businesses to convert one currency into
another for a variety of different reasons, such as commerce, tourism, or just pure speculation
The FX market is the largest, most liquid market in the world with a staggering average daily trading volume exceeding $6.6 Trillion.
All of the world stock markets combined do not even come close to this (The entire US Stock Market only $0.25 Trillion daily trading volume
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What is FX Trading 📊
Forex Trading- the act of buying money, waiting on a shift in exchange rates then selling it back to the market- ideally for a profit.
There are endless amounts of methods and strategies that traders use to try to determine the true value of an exchange rate.
The method you choose to develop is your trading edge in the market over others.
The Superfly Masterclass will teach you how to develop your edge and will be based on you mastering these 4 fundamental skills:
1.It is understanding basic human behavioral tendencies.
2.Understanding basic mathematical probabilities
3.Understanding basic pattern recognition
4.Understanding how to transcend your emotional reactions through strategic foresight and master planning
Mastering these 4 skills is how you will extract profit from the market consistently
This is the journey you are about to begin…
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CURRENCIES
It is recommended to focus on the major 8 major currencies of the world
AUD-> Australian Dollar
CAD->Canadian Dollar
CHF-> Swiss Franc
EUR->Euro
GBP-> Great British Pound
JPY- Japanese Yen
NZD-> New Zealand Dollar
USD-> United States Dollar
These have the highest volume/liquidity & therefore have the lowest transaction costs
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CURRENCY PAIRS
Exotic Currencies-> any currency not listed in the major 8. Stay away from these
Individual currencies do not have absolute value.
Currency Pair -> quotation of the relative value of a currency unit against the unit of another currency
Buy = Long (Bullish)
Sell = Short (Bearish)
Majors -> all of those pairs that contain the USD
Minors/Crosses -> the remaining pairs that do not contain the USD
With the Superfly Strategy, you will find there is an overwhelming abundance of opprotunities daily on even just one currency pair alone
Therefore, if you want extraordinary results it’s advised that you narrow your focus to just one pair or a few and master those
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HOW TO MAKE MONEY IN TRADING
Lots-> represent the number of units of a base currency that we buy or sell
Standard -> 1 Lot -> 100,000 units
Mini -> 0.1 Lot -> 10, 000 units
Micro -> 0.01 Lot -> 1,000 units
Leverage -> gives you exposure to get a large amount of currency without having to pay the full value of your trade upfront
Margin -> the initial deposit you put up to open & and maintain a leveraged position
Leverage enables you to take multiple trades at a time while keeping your risk minimised & and the majority of your account balanced disengaged from the IF used correctly.
The higher your leverage ratio, the smaller the margin required to execute a trade.
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HOW TO MAKE MONEY IN TRADING
Factors to consider when selecting your leverage ratio:
• Slippage
• Negative balance protection
• Capital Partitioning
• Country specific regulations
High Leverage -> High Potential Profit -> Greed -> Low Success Rates
Leverage is a double-edged sword, it magnifies your upside to the same degree that it magnifies your downside. It does not increase your edge
It merely takes you to wherever you’re going much faster
For the professional trader, who effectively manages risk leverage is a powerful tool.
For the emotional gambler, who tries to get rich quick, leverage is a dangerous tool
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HOW TO ANALYZE FX
There are 3 common ways to analyze the FX market:
1. Fundamental -> Study of relative economic strength in countries
2. Technical -> study of price patterns
3. Hybrid -> a combination of both fundamental & technical analysis
Fundamental Analysis -> is the study of the relative economic, social, and political forces that may affect the supply and demand of one country against another
In the long run, the exchange rate of a currency versus other currencies is usually a direct reflection of the market’s opinion on the current and future health of its
Respective economy, compared to other countries economies
The better the shape of a country’s economy is the more foreign businesses and investors will invest in that country
This results in the need for those investors to purchase that country’s currency to obtain those assets, increasing the demand for that currency and in turn driving
Up the price as a result
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HOW TO ANALYZE FX
Fundamental Analysis
Fundamental traders will monitor various factors that impact the relative economic strength of countries such as
• Interest Rates
• Unemployment Numbers
• Gross Domestic Product (GDP)
• Industrial Production
• Inflation
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HOW TO ANALYZE FX
Market Mechanics
Currency exchange rates move up and down as a result of supply and demand from market participants.
Every day, investors and traders, both institutional and private individuals, buy and sell currencies.
The numerous types of market participants are buying and selling for their unique reasons, with their unique views and beliefs about what the currency
pairs they are trading are worth.
The meeting point of buyers and sellers, for whatever reason they are acting is price.
No trades can take place unless both the buyer and the seller agree on a price.
So this drives the price of currency pairs buyers bring with them demand for the pair, applying upward pressure on prices, while sellers bring supply applying
downward
Pressure on prices.
The market runs like a continuous auction throughout the day, with buyers and sellers competing with each other to get the best price possible
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HOW TO ANALYZE FX
Technical Analysis
Technical Analysis is the framework used to identify trading opportunities through the study of price movement
And volume from that battle between buyers and sellers is then reflected on a price chart.
Supply & Demand derive Order flow which prints Price Action that creates-> Patterns
The interaction of millions of different participants for as many reasons, all with their own emotions and agendas, forms the price
Patterns that stretch over extended periods and can be used to make high-probability forecasts of where prices may move in the future
Candlesticks -> visual representation of price fluctuation in the market for a set timeframe
Strategies can also be categorized based on duration:
• Scalping
• Day Trading
• Swing Trading
• Position Trading
You can make money with any style, but your job is to discover what style of trading works best for you, your lifestyle, personality, and trading psychology.
The higher the duration of the trading style, the more instruments, markets, and setups you may potentially want to trade (vice versa)
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BASIC TRADING COURSE
CHOOSING A BROKER
Open A Trading Account with Exness Broker here : https://one.exnesstrack.net/a/pfc6nkkqd2
Broker-> is the firm that executes your trades in the market.
You will perform your analysis on a charting software (TradingView) and then execute & and manage your positions on your brokerage account
On a separate platform.
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BASIC TRADING COURSE
CHOOSING A BROKER
Key points you may want to consider when choosing a broker:
GEOGRAPHIC RESTRICTIONS-> Do they legally operate in your country of residency
REGULATION -> Are they regulated by a reputable authority?
LEVERAGE -> Do they provide access to a high enough leverage ratio for your strategy?
PRICING -> What are the total transaction costs?
MINIMUM DEPOSIT -> Is the minimum deposit low or high enough for your account size
WITHDRAWAL PROCESS -> Is it simple and quick?
CUSTOMER SERVICE -> Do they have a support desk in your country or 24/5 Chat support
SIZE-> Do they have a large client base / AUM?
PLATFORM -> Do they offer accounts on the execution platform you want? (MT4/MT5)
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BASIC TRADING COURSE
CHOOSING A BROKER
A Lot of disgruntled and naive retail traders often resort to blaming brokers for their lack of success
Like you, me, and every successful business on earth, the brokers have both altruistic and narcissistic agendas
The sooner we embrace both polarities that permeate everything in the universe, including business and human behavior,
the sooner we can transcend subjective judgment created by subtle infatuations and resentments.
Brokers provide a very valuable service to their clients and therefore deserve to be compensated for their effort.
Brokers also look out for themselves and tend to push against the edge of regulation to optimize their profits.
By embracing a broker for what it is and by learning how to operate within the realm of the relationship, traders have access
To incredible opportunities at a very low cost, that otherwise wouldn’t exist
Learn more :
WhatsApp +971 56 8532067
Instagram: @superflycapital
Instagram : @ milesmadeitright
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