STAGE ONE CONCEPT

*Stage 1*
�� *INTRODUCTION TO FOREX EXCHANGE AS A WHOLE*
�� WHAT IS FOREX
�� WHAT IS TRADED ON FOREX
�� WHO IS A FOREX BROOKER
�� TRADING TIMES & TRADING SESSIONS
�� TERMINOLOGIES USED IN FOREX.
�� FORMS OF TRADING
�� CURRENCY PAIRS.
�� MT4 INTERFACE PART 1

*So Let's kick off*

We would be starting with the first topics on our outline

*INTRODUCTION AND WHAT IS FOREX*

The New York Stock Exchange which is the Second Largest Market is having a Daily
Trading Volume of $169 Billion Dollars as we can see in the Statistics above
Forex is just a Short form for *FOREIGN EXCHANGE*

Forex is one of the Largest market in the world

With a Total Daily Liquidity of $6.6 Trillion dollars

While the Cryptomarket, for those of us who know about Bitcoins has a Total Market cap
of just $139 Billion as of today, this is not even the Daily Volume.

All these Statistics are online, So you can do well to confirm them for yourselves
Let's move on to the next topic

*WHAT IS TRADED ON FOREX*

Someone would ask, What is Traded on the Forex market.

This is not the form of market where buy your clothes or shoes.

This is not Idumota or Oshodi Market, Accra Mall or your normal Local markets in any
part of the world u are
Let's move on to the next topic

*WHO IS A FOREX BROOKER*

*Forex Brookers* are Firms that gives you access to the FOREX MARKET .

They provide U as a Trader access to the Financial market...

By providing a Trading account for U.

They gives Traders what we call Leverage. (we would see that soon)

They also provide Support Functions to the traders

So what are actually do is that we are constantly Transacting in the above items I listed
up there.

I would take u all through how to Trade on them, so just follow the Lectures closely
There are various Brokers in the Forex Market

We have

*Hotforex*
*Fxtm*
*Fxcm*
*icm*
*tnfx*
*Fbs*
*LiteForex*

Etc

*We are still going to take time to talk about Brokers in details*

But we have now aware of their Functions and what they offer the Traders
*We are entering into the most part of this Forex Training... If you were distracted before,
let's focus because your proper understanding of the Forex market would be determined
if you actually know the Forex cycle.*

There are Various Trading Times and Trading Sessions in Forex

They include
Let's Fire on

Our Next important topic today is

*TRADING TIMES AND TRADING SESSIONS*

*SYDNEY SESSION*

*TOKYO SESSION*

*LONDON SESSION*

*FRANKFURT SESSION*

*NEW YORK SESSION*

The Sessions names are derived from the major cities in which most of the Transactions
are done

For example

Sydney Session is represents Australia and other countries around that Time zone

Tokyo session , sometimes called *ASIAN Session* represents Japan and some of the
Asian countries.
London Session represents The United Kingdom and the countries within it.

FRANKFURT session which is in Germany represents Europe.

While
NewYork Session represents The Americas

Forex is actually a 24 hours market.

It is most times regarded as the Market that never Sleeps because it's open for 24 hours
of the day except on Weekends

So no matter where you are around the World, no matter your Time zone.... U can
actually Trade this Large, Highly Liquid market
Let's now get to their Trading Times....

Because each of this Session have their own Opening and Close times...

*SYDNEY SESSION*

Opens by *9PM GMT*

*TOKYO SESSION*

OPENS BY *11 PM GMT*

*LONDON SESSION*

OPENS BY *7AM GMT*

*FRANKFURT SESSION*

OPENS BY *8AM GMT*

*NEW YORK SESSION*

OPENS BY *1PM GMT*
Let's note these Times down in our Exercise as U all would be needing them for your
Trading.

Also Note that these Times are listed in *GMT*

Greenwich Meridian Time

So you should do the appropriate Calculation depending on your countries Time zone,
so as to know which session, U are currently on

All Sessions lasts for 9 hours.

So having known their Opening Times, To get their appropriate Closing Times.

Just Add 9 hours to the Opening Time to get when they would Close
Example

Sydney Session that Opens by *9 PM GMT*

WOULD close by *6AM GMT*

also TOKYO Session that Opened by *11PM GMT*

WOULD close by *8AM GMT*

NEWYORK SESSION that Opened by *1 PM GMT*

WOULD CLOSE BY *10PM GMT*

AND SO ON FOR OTHERS..

*Now there is an important thing to Note here...*

This is what many Forex Traders don't actually understand because nobody taught them.

*It is always good to Trade the Market when 2 Markets are open at the same time*

Like When 2 of the sessions are open

*Please Take note of this Important point*

*This is Because, Volatility is always more when 2 or more Sessions are Open*

And in Forex Market, More Volatility ,fast movement of charts which also means More
money. ��

As a Forex Trader, U wouldn't want to trade a Quiet market, because there won't be
much Fluctuations and it's those movements that make money for us.

*U would come to understand these soon and know what I mean Some of You have
heard about Forex before I'm aware,though you may not have known how to Trade the
Market*

Also some of U have Friends that Trade Forex.

But the Wicked part is that most of this your Friends won't teach U.

They would rather prefer to Buy you Exotic Drinks in Clubs, Take you and your Spouse
out but they would never Teach you how to Trade Forex.

And the beauty about Forex is that one's profit doesn't hinder the next persons own... We
would see all these soon
Example by
*12 AM GMT*
Sydney Session and Tokyo Session would be open together and it would have more
Volatility than someone that is Trading at *9PM GMT* because the market would be
Quiet.

Another Example is by *8AM GMT*

London Session and Frankfurt Session would be open, infact even Tokyo would be with
them briefly, so you would notice that Volatility would increase during such times.
So as a Forex Trader , Always time your Trading to fall in periods where 2 or more
Markets are open at the same time.

*By doing that U would always have an edge in the market*

We would be learning more important things, let's just follow the Trading closely
As very soon I would be dropping My Trades on the group , for all of U to pick and
Trade.

U would notice that When the Trade I dropped enters profit , everyone in the group that
picked the Trade would enter profit too...
So I see no need why people should hoard this Knowledge.
If not Just to feel Superior over their peers

So Let's follow The Training in the Group Closely and take it seriously because this is a
rare Opportunity which only few people tapped in to.

I have also revoked the group link too

This rare Opportunity is not for everyone.

Many of You, Like I said earlier would always remember the day U joined this group as it
would be a turning point to your Financial Sphere
Let's fire on.

*FREQUENTLY USED WORDS IN FOREX*����♂

TO GO *LONG*....means to BUY

TO GO *SHORT*...... means to SELL

If a Trader tells you that he went Long on a Currency pair.

He meant that, He Bought the pair.

While if they tell you that they Short a Currency pair, it means that they Sold the pair
Soon you would get to see that All what we are doing in Forex is Buying and Selling
The next terms we would see are

*BULLISH MARKET*.......
A market that is going Upwards

*BEARISH MARKET*...... A Market that is going downwards.

When someone tells u that a currency pair or a commodity is Bullish

It's telling you that its going Up

While

*One that is Bearish is going down*

Let's be noting all these terms down in our Exercise books or Jotters,
U all would be needing them as U we progress with the Training
*BULLS*..... The Buyers are referred to as Bulls

*BEARS*..... The Sellers are referred to as Bears

*RANGING*.....
A Market is said to be Ranging, if it does not have any particular direction.
It's neither moving Upwards not Downwards

*TRENDING*......
A Market that is has a direction.
It's either moving Upwards or downwards

So you can hear people say a market is Trending upwards or the market is Trending
downwards
So you may hear people tell you that the Market is just Ranging.

They are indirectly telling you that the the market has not found any direction yet.
The next terminology that we would be looking at is

*HAWKISH*

This term is mostly used when referring to the Central Bank Governor or personell of a
Country.

When they are Hawkish, they tend to be liberal on interest rate and are willing to increase
it.
This is good news for investors

*DOVISH*

This is the opposite of Hawkish.

Financial personnel who are Dovish are very restrictive... They do not want to tamper
with the interest rate.
They even want to reduce it.
This is bad news for investors.

Like what is happening to Great Britain right now

As we go on with the Training, We would get to see more Terminologies and Explain
them as we see them.

Actually I'm going through the basic

Most tutors won't teach you this

*FORMS OF TRADING*

There are basically two forms of Trading in Forex

*FUNDAMENTAL ANALYSIS*

&
*TECHNICAL ANALYSIS*

Note them down

Let's start with the first one

*FUNDAMENTAL ANALYSIS*

This is also known as News Trading

Here you are analysing the Forex market with respect to the News
It's been said that News is what moves the market.

Everyday Varrious news are being released by these major countries

And they either positively Or negatively affect the Currency pair involved and then you
make your Trading decision based on the news u heard
We see all these News on CNN, Bloomberg, CNBC etc

Also Your MT4 App has a Summary of News Section

Also some sites like forexfactory.com, dailyfx.com etc

Gives you summary of this News.

We would come to see them later

Now whether the News is Positive or Negative

As a Forex trader, that is none of your business because u make money both ways.
Those into Crypto Trading would tell you that u only make money when a Coin is
appreciating.

But in Forex, we make Money Both ways.

If a Currency pair is appreciating, We go long on the pair

When a Currency is also depreciating based on the News, We go short on the pair.
Like many traders do everyday, They buy some and sell some

So In Forex, U make money on both sides of the News

We would come to see how to trade the News later

Today We would be discussing an Important News Released by the United States.

Even though there are News release everyday.

There is what we Forex Traders Call *KING OF ALL NEWS*

It's called the *NFP*

So once someone tells you a currency pair is bullish(just know it's going upwards) and if
they tell you downtrend( its moving downwards)

Now the third type of market:

Ranging market means it does not gave a direction, it moves neither upwards nor
downwards.

Trending means the market has a direction, either upwards or downwards.

Now let's get to currency pairs

We would be starting with

*CURRENCY PAIRS*
For this part to be more interactive...

We would all need to open our MT4 Apps

We are getting into more serious Business right now.

*I Believe everyone has successfully Opened their Demo account and has Located the
CURRENCY PAIRS page just like I outline Few Minutes Ago*
If you haven't be Using my own images as Guides for now
After the Lectures, I would address it individually
Let's fire on

EUR..... EURO

USD.... US DOLLARS

GBP.... GREAT BRITISH POUNDS

CHF...... SWISS FRANC

NZD.... NEW ZEALAND DOLLARS

AUD..... AUSTRALIAN DOLLARS

CAD.... CANADIAN DOLLARS

JPY.... JAPANESE YEN

CNY..... CHINESE YUAN

etc
These are some of the list of Popular Currencies traded on the Forex market

With their abbreviations and Full meanings

As u observe on your MT4.....

It's mostly written as their abbreviations

Now Let's continue with the Lectures

If you Look at those Currencies listed up there...

U would discover that they are listed in pairs.
Among those pairs of Currencies

The first Currency within the pair is called

*THE BASE CURRENCY*

WHILE

The second Currency within the pair is called the *QUOTE CURRENCY*

Let's note these down

Let's take *EURUSD* as an example

Ie The last Currrency pair on that image that I uploaded above

EURO is stronger than the US Dollars.( I believe we all know that)

Hence EURO is the Base while USD is the Quote

An important thing to note here is that

The Base Currency is always stronger than the Quote Currency

(with few exceptions and we would see why soon)

Another example is

*USDJPY*

The 2nd to the last pair in that image above

In this second example

USDollars is the Base while Japanese Yen Is the Quote

..

Let's take *EURUSD* as an example

Ie The last Currrency pair on that image that I uploaded above

EURO is stronger than the US Dollars.( I believe we all know that)

Hence EURO is the Base while USD is the Quote

An important thing to note here is that

The Base Currency is always stronger than the Quote Currency

(with few exceptions and we would see why soon)

Another example is

*USDJPY*

The 2nd to the last pair in that image above

In this second example

USDollars is the Base while Japanese Yen Is the Quote

..

Because the USD is stronger than the Japanese Yen

Also Beside each of those pairs...
U would see some set of Numbers written by the side...

Just focus on the first number for now

That number is telling you, how many Units of the Quote Currency, U would need to
get 1 unit of the Base Currency.

Let's note the above statement down,

I would explain in details now
For Example...

In this EURUSD above... It's showing you

EURUSD.... 1.06589
So that is what that number by the side, Always tells U.
How many Quote currencies do you need to get 1 Unit of the Base Currency

I believe this is clear

Let me give another example on the Chart to make it more clearer

Let me use a Local scenario to give you guys an example

If you have a Currency pair between USD and Naira

Ie
*USD/NGN*......360

This is first telling you that USD is stronger than Naira, hence USD is the Base and Naira
the Quote
Then the next important thing it's telling you is how Many Quote Currencies do you Need
to get 1 Unit of the Base Currency

So in this case, U would need 360 Naira to be able to get 1 USDollar

Like I told you guys... That the Base is always Stronger than the Quote

There are occasions in which is Stronger ones are written as the second pair

Examples include
*AUDUSD*

US dollars is stronger than Australian dollars

*NZDUSD*
US dollars is stronger than NewZealand dollars

*EURGBP*

Pounds is stronger than Euro

*U always know them because they start with zero point something* *written beside
them*
*Let's Take a Look at USDJPY....*

In the image above,

It's Currently at 110.91

It's Currently telling that U would need 110.97 Japanese Yen to be able to obtain one US
Dollars
Now when you see these few exceptions..

Don't bother too much.... About why the Weaker one is written first even though it's quite
glaring that the Quote is stronger

What you just have to do is to take note of them,

It doesn't affect your trades.

It's just for the knowledge sake, so note them down.

They are the pairs I listed above

However Apart from those few exceptions

Generally in Forex...

*The Base is always stronger than the Quote*

*Also, no matter which* *one is written first*

Always know that the Price u see beside it is How many of the Quote Currency , u
would need to get 1 unit of the Base Currency
We will now move to another Very important Part of Forex

Let's listen closely here

This is where many people always asks Questions

*However, For your Foundation to be Strong in Forex , U need to grab this concept*
*Let's fire on*��
The Big Question is Now

*When Do you Buy and When Do you Sell* ?

*The quote and base currently is not really important, but for knowledge sake, you need
it*

Now this is where people always get confused....

*Because those who taught them used the wrong semantics*

U BUY WHEN YOU KNOW THAT THE MARKET *WOULD* GO UP

WHILE

U SELL WHEN U KNOW THAT THE MARKET *WOULD* GO DOWN

If you notice, I carefully labeled *WOULD*

I didn't say

U Buy when the Market is going Up

Assuming I said that, I would still be correct but you would get more confused

U would start asking, Who buys any item when it's going Up
Now as Usual, I would use a Local scenario to explain this topic , by the time I'm done

This seemingly complex concept, would look very easy to u

Believe me, nothing is hard in Forex

Just tell yourself that if Young Boys who are not even half as educated as U can do this
that u too can do it
So Let me explain to U guys...
What we are actually doing in Forex in very simple terms

Just follow me here closely

If you are doing anything else, just focus from now onwards
Let me use this Analogy to explain what I mean.

I would use 2 names in this brief Analogy

Name 1 : Buhari (He is the current president of Nigeria)

Name 2 : Jonathan (former president)

Now let's get to the Analogy so as to understand in a layman's way how Forex actually
works.

When Jonathan was in power.

Dollar was at a time around 180 Naira to 220 Naira
Let's just take the average and say 200 Naira.

When Buhari entered power... Some of you would recall that around 2016 , at some point
Dollar shut up to 500 Naira per one.

Assuming you knew Dollar would appreciate against Naira like this and u had 2 Million
Naira lying fallow in the Bank account , U knew from your experience as a Forex trader
that uncertainty in Government weakens a currency pair and you used this your 2 million
and bought dollars and kept in 2015.

It would give you about $10,000.

*Now 1 year later, Dollar just escalated to 500 Naira per dollars.*

And you went to the Bank, cashed out your $10,000 and exchanged it back to Naira.

It would now yield U 5 Million Naira (remember u just stocked 2 million Naira).
That means u made 3 Million Naira Profit
Now ask Yourself .....

Did you use that 2 Million Naira to do any Business.?

The answer is NO
*U practically did nothing*

What just happened right there was Forex.

U leveraged on the fluctuations in the Price of Dollar to Naira to make yourself Money.
Without Doing anything., U just sat at home while the Foreign Exchange market did the
job for U.
This is basically what we do in Forex...

*This is not the normal market in Oshodi or Idumota or Accra mall that You Buy and Sell
Clothes.*

For some that would ask what are you Buying and Selling.
This is just a raw Analogy , because in Forex market it's even more interesting.

U don't have to wait for 1 year or months to make Money.

These Currencies are Constantly Fluctuating in minutes (what I usually refer to as

Volatility) ., so it's those opportunities caused by these Fluctuations in the Price of one
Currency with respect to another that Forex traders make their money from.

Because they happens Daily.

That's why Banks would never allow you to learn Forex.

They prefer U come to their Banks and fix the money for meagere interest rates.
To even shock you, Investment Banks contribute more than 70% of the total Liquidity in
Forex, they use your Money to Trade.
Drive Big cars and Live in Big Houses and give you peanuts as interest or meagere
amounts As Salary .
I had to sit down to type this analogy in the lowest terms that everyone can understand.

With time it would get clearer..

But I hope you all are having an idea of how we make money in Forex
So In the above Analogy..

U would notice that u didn't really Buy or Sell any real commodity to make money.
U took advantage of the change in Exchange rate to make money.
So why did you Buy *USD/NGN*

IN the above scenario

U Bought *USDNGN* because you knew before hand that the value *Would* Rise

Take note *Would*

So In Summary

We have seen that We Buy When we know A currency Pair *would* Rise

And we Sell

When we know a Currency pair *would* fall

The Big Question is how do we know when it would rise and when it would fall
That is What Technical Analysis would tell you

Candlesticks

Fibonacci

Elliott waves

Indicators

Pivot point etc

We are going there

Just follow me step by step

So we would be stopping here for today...

This brings us to the end of the Stage 1.��ŽŽ

We would continue with MT4 interface and Stage 2 by tomorrow.

If you have any questions, Please do drop them on the Question And Answers Group

We have successfully completed Stage 1 today ��Ž and by tomorrow we are moving
on to Stage 2 ��