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.
Forex Trading Basics Level 1 (Free)
    About Lesson

    Types of Forex Orders

    There are some basic order types that all brokers provide and some others that sound weird. Orders fall into two buckets:

    1)Instant marker execution/ Market order: an order is instantly executed against a price that your broker has provided.

    2)Pending order: an order to be executed at a later time at the price you specify.

    Pending Orders – Limit Order/ Stop Orders Limit Order – A limit order is an order placed to either buy below the market or sell above the market at a certain price. This is an order to buy or sell once the market reaches the “limit price”. • You place a “Buy Limit” order to buy at or below a specified price. • You place a “Sell Limit” order to sell at a specified price or better. Once the market reaches the “limit price” the order is triggered and executed at the “limit price” (or better).

    Pending Orders - Limit Order Stop Orders

    Pending Orders – Limit Order/ Stop Orders Stop Order – A stop order “stops” an order from executing until the price reaches a stop price. You would use a stop order when you want to buy only after the price rises to the stop price or sell only after the price falls to the stop price. A stop-entry order is an order placed to buy above the market or sell below the market at a certain price. • You place a “Buy Stop” order to buy at a price above the market price, and it is triggered when the market price touches or goes through the Buy Stop price. • You place a “Sell Stop” order to sell when a specified price is reached.