Course Content
Module 1
What is forex?Forex is Foreign exchange.It is the opportunity to trade two currencies against each other. If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit. If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.The foreign exchange market, which is usually known as “forex” or “FX,” is the largest financial market in the world. The Forex market is a global, decentralized market where the world’s currencies change hands. Exchange rates change every second so the market is constantly moving. Most of the currency transactions that occur in the global foreign exchange market are bought (and sold) for speculative reasons. Currency traders (also known as currency speculators) buy currencies hoping that they will be able to sell them at a higher price in the future.
0/8
Forex Trading Basics Level 1 (Free)
    About Lesson

    How to Make Money Trading Forex

    Placing a trade in the foreign exchange market is simple. The mechanics of a trade are very similar to those found in other financial markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.
    When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy ONE unit of the base currency.
    First, you should determine whether you want to buy or sell. If you want to buy (which actually means buy the base currency and sell the quote currency), you want the base currency to rise in value and then you would sell it back at a higher price. When traders talk, this is called “going long” or taking a “long position.”
    Just remember: long = buy.
    If you want to sell (which actually means sell the base currency and buy the quote currency), you want the base currency to fall in value and then you would buy it back at a lower price. This is called “going short” or taking a “short.

    All forex quotes are quoted with two prices: the bid and ask. In general, the bid is lower than the ask price.

    Bid Price

    The bid is the price at which your broker is willing to buy the base currency in exchange for the quote currency. This means the bid is the best available price at which you (the trader) can sell to the market. If you want to sell something, the broker will buy it from you at the bid price.

    Ask Price

    The ask is the price at which your broker will sell the base currency in exchange for the quote currency. This means the ask price is the best available price at which you can buy from the market. Another word for ask is the offer price. If you want to buy something, the broker will sell (or offer) it to you at the ask price.