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 BLESSED FX
FOREX BASICS

This will not be your regular type of book. I will be fast, explanatory and
straight to the point.
You must have paid to get this eBook. If you have questions, please feel
free to send a message on WhatsApp or drop a call. +2349090331604
Let’s begin.

My name is Blessed Fx. Fx is short for forex. I have been trading forex
for over 5 years and its save to say the only thing I know how to do is
trade forex. Lol.

I learnt forex in year 2014 and till date, I have earned a fortune trading
forex.

I’ll be using.

1. Text
2. Voice note.
3. Short videos if needed.

For this training, you need:

1. Your phone.
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2. Writing materials.
3. Data.

To trade forex, you need.

1. Phone.
You don’t need a laptop. It’s optional
2. Data connection.

That’s basically all.

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 MEANING AND HISTORY OF FOREX.
MEANING:
1. What does forex actually mean?

2. An overview of forex

3. Who is a forex trader?

1. Forex simply stands for Foreign Exchange.

Foreign Exchange (forex or FX) is the trading of one currency for another.
For example, one can swap the U.S. dollar for the euro.

It is shortened as FX

Key characteristics of Forex.

1. It is the largest online market

2. It is easy to start and cheap.

3. Anybody can trade forex

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4. Anybody can learn the skill and make money from it.

5. It doesn’t consume time

6. There is no limit to your income

7. It operates 24 hours

ADVANTAGES

1. Flexibility

2. Leverage

3. Accessibility.

4. Source of income

5. Few fees and commission.

6. Zero tax

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 7. Automation.

DISADVANTAGES

1. Potential losses. The sad news is if you don’t trade well, you will
lose money

WHO IS A FOREX TRADER?

A FOREX TRADER SIMPLY TRADES FOREX.

But read further.....

A currency trader, also known as a foreign exchange trader or forex trader,

is a person who trades, buys and/or sells currencies on the foreign
exchange.

Currency traders include professionals employed to trade for a financial

firm or group of clients, but they also include amateur traders who trade
for their own financial gain either as a hobby or to make a living.

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 PARTICIPANTS IN FOREX

It is not only you and I that trades forex. Other big corporations as well
do.

Forex participants are divided into.

1. Central Banks.

2. Financial Institutions.

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 3. Hedgers.

4. Speculators.

5. Retail participants.

Let me explain their roles

Central Banks.
Probably the most influential players in the forex world are the central
banks and the Governments they represent. More often than not you see
Central Banks world executing policy matters in line with the existing
Government’s political ideology, the economic demands and the steps
necessary to keep the economic situation of a country in good state. The
central bank’s monetary policy generally outlines the particular country’s
vision for growth, how they are tackling issues like inflation/deflation and
stance on interest rates.

Financial Institutions.
Apart from the Government along with the Central Banks, another major
player in the forex market are the Banks & Financial institutions. One of
the major participants in forex transactions, banks are involved in foreign
exchange transactions for a myriad of reasons.

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Whether it is foreign currency for business transactions, tours or personal
use, banks deal with a huge amount of foreign exchange at any given time.

One of the core players of the interbank market, they provide the key
liquidity push in the forex market.

Hedgers
From banks we shift to some of the biggest clients that these banks cater
to. Any big firm that is doing business internationally or is dealing with
international clients will require tackling currency volatility.

Be it the booming IT industry in countries like India or the energy

business globally, just about nobody enjoys the currency fluctuation risk.

For most multinational companies, this uncertainty is by far the key area
of concern and many are working overnight to ease out the pressure as a
result of this.

Speculators
Now there is another set of key players in the forex market that we have
thus far not discussed.

They play a key role in predicting trends, attempt to profit from these
predictions and the fluctuation in currency rate is what they make living
out of.

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Yes you guessed it right, we are talking about the speculators in the money
market.

They bet on potential trends in future and walk the tightrope of daily
fluctuation in exchange rates globally to expand their profits.

Retail Participants
This is you and I. Trading for personal use.

Sample of what a forex chart looks like.

1. On laptop 👇👇👇

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On phone 👇👇👇

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I trade on phone. Sometimes, I use my laptop.

All the same, I can make money without my laptop daily.

NOW, HOW IS THE MONEY IN FOREX MADE?

HOW DO I BECOME A PROFITABLE FOREX TRADER?

You don’t just want to be a forex trader. You want to be a profitable one.
One who makes money daily. That’s what you should aim for.

Now the question is. How do you get there?

1. Learn forex properly.

2. Choose the right broker. Will explain broker better.

3. Trade with discipline.

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4. Have a mentor.

5. Withdraw your funds. Lol who no wan withdraw?

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 HISTORY OF FOREX TRADING.

Forex trading, which is the act of exchanging fiat currencies, is thought to

be centuries old – dating back to the Babylonian period.

Today, the forex market is one of the biggest, most liquid and accessible
markets in the world, and has been shaped by several important global
events, like Bretton woods and the gold standard.

It’s important for forex traders to understand the history of forex trading,
and the key historic events which have shaped the market. This is because
similar events could likely occur again in different, but similar forms –
impacting the trading landscape. History tends to repeat itself.

History of Forex Trading: Where it all began

The barter system is the oldest method of exchange and began in 6000BC,
introduced by Mesopotamia tribes.

Under the barter system goods were exchanged for other goods. The
system then evolved and goods like salt and spices became popular
mediums of exchange.

Ships would sail to barter for these goods in the first ever form of foreign
exchange. Eventually, as early as 6th century BC, the first gold coins were
produced, and they acted as a currency because they had the critical

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characteristics like portability, durability, divisibility, uniformity, limited
supply and acceptability.

Gold coins became widely accepted as a medium of exchange, but they

were impractical because they were heavy.

In the 1800s countries adopted the gold standard. The gold standard
guaranteed that the government would redeem any amount of paper
money for its value in gold.

This worked fine until World War I where European countries had to
suspend the gold standard to print more money to pay for the war.

The foreign exchange market was backed by the gold standard at this point
and during the early 1900s. Countries traded with each other because they
could convert the currencies they received into gold. The gold standard,
however, could not hold up during the world wars.

You don’t really need to know the history but just for reverence sake

WHY SHOULD WE TRADE FOREX?

Why exactly should we learn and trade forex?

1. Because everyone is in forex trading after all.

2. It is volatile.
3. Possibilities.

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 4. To make money
5. As a hobby.
6. To stay relevant in the currency world.
7. As a side income.
And so on.

FOREX BASICS AND TERMS

We are looking at the terms that forex traders use. The terminologies they
believe in. some of them include:
Pip
Spread
Leverage
Volume
Margin
Free margin
Equity
Slippage
Lot/position size
Buy/long/call
Sell/short/put
Bid

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Ask
Bear /downtrend
Bull/uptrend
Chart
Broker
Margin call
Market Executions

Lets look at their meaning:

PIP: Point in percentage.

The unit of measurement to express the change in value between two
currencies is called a “pip.”
If EUR/USD moves from 1.1050 to 1.1051, that .0001 USD rise in value
is ONE PIP.
A pip is usually the last decimal place of a price quote.
Most pairs go out to 4 decimal places, but there are some exceptions like
Japanese yen pairs (they go out to two decimal places).
For example, for EUR/USD, it is 0.0001, and for USD/JPY, it is 0.01.
In EUR/USD EUR is the BASE currency while USD is the quoted
currency. The base currency is the currency first pronounced in a currency
pair. It is attributed the value 1
Example in EUR/USD, EUR is the base currency with the value 1 while
USD is the quoted currency. Thus we say 1 EUR = ………..USD

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BID AND ASK

The “bid” is the price at which you can SELL the base currency.

The ask is the price at which you can BUY the base currency.

The difference between the bid and ask is called the SPREAD
Let me send an image

Some brokers make their spreads fixed eg instaforex uses fixed spread of
3.

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But the best brokers use floating spreads

Let’s look at LEVERAGE

Leverage involves borrowing a certain amount of the money needed to

invest in something.

In the case of forex, money is usually borrowed from a broker.

Forex trading does offer high leverage eg if you use a leverage of 1:100,
it simply means if you deposit $100, your broker can borrow you x100
which is $10,000

Margin

This is simply the amount your forex trader sets aside while you trade or
open a position.

Equity is the total amount you have in your trading account adding or
subtracting your current trades.

Listen below

Slippage occurs when the forex market fails to carry out your order
properly.

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When there is a mistake in the market

Lot size.

Forex is commonly traded in specific amounts called lots, or basically the

number of currency units you will buy or sell.

The standard size for a lot is 100,000 units of currency, and now, there are
also mini, micro, and nano lot sizes that are 10,000, 1,000, and 100 units.

Buy/long/call
This is to predict an uptrend for a currency pair.

Sell/short/put/

This is to predict a downtrend for a currency pair

Bearish means it’s a downward trend.

Bullish means it’s an upward trend.

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A chart is simply a visual representation of a currency pair’s price over a
set period of time.

It can be in the form of

1. Lines
2. Bars
3. Candlesticks

Let me send an example. It has candlesticks. Those black and white sticks
are called candlesticks.

You can change it to either lines or bars. Your choice

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WHO IS A BROKER?

A brokerage firm is a place where buyers and sellers go to buy and sell
instruments, such as currencies.

The forex broker operates as a middleman between you and the market.

Margin call.
This is bad news. If you don’t trade well, your broker will send you a mail
that you have lost too much amount in your account and thus, you have
blown your account.

It’s really bad right? I know

Volume

In FX trading, it’s the number of lots traded in a currency pair or in the

entire market within a specified time period (also known as the Turnover).

As a measure of trading activity, it is simply the amount of currency that

changes hands from sellers to buyers.

EXECUTIONS IN FOREX.

Executions are simply how you place trades in forex

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We have:
Market executions
Instant executions
But stop
Sell stop
Buy limit
Sell limit

Instant Execution is the method of order execution where the order is

executed exactly at the indicated price or may not be executed due to sharp
price changes during the process of placing an order. Order will not be
opened/closed without the trader’s consent to a certain price. In other
words, requotes may take place. Beginners usually prefer this execution
type, for whom exact execution is important.

Market Execution is opposite to Instant. It is faster and is characterized

by guaranteed order execution. Orders are opened at current market prices
in any case. It’s worth noting that slippages can occur during high market
volatility. That is, the order will be executed but at a new price. The
market price may be either lower or higher than the price indicated.
However, a trader always has an opportunity to close order with profit.
Traders whose priority is to open a position choose Market Execution.

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 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).

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 Stop Entry Order

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.

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FOREX APPS

1. Mt4/Mt5
2. Trading View
3. JCP

There are so many. But let’s look at these. It’s enough to begin with

MT4 IS ENOUGH FOR OUR TRADING. FOR THE SAKE OF THIS

COURSE, DOWNLOAD MT4 AND NOT MT5

The videos will show you how to operate them.

WHAT DO WE TRADE ON FOREX?

CURRENCIES

Major currency pairs The most traded currency pairs in the world are
called the majors. They are generally the most liquid and attractive to all
types of forex traders. The EURUSD is by far the most traded pair,
representing close to 30% of all daily forex trades on the entire forex
market. E.g EUR/USD, USD/JPY

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Minor currency pairs Currency pairs that do not contain the US Dollar
are known as ‘crosses’. A currency pair involving a major non-US
Dollar currency would also be known as a ‘minor currency pair’.

The most common crosses are pairs derived from the three major non-
US Dollar currencies - Euro, Great British Pound and Japanese Yen. For
example, pairs that involve the euro are called ‘euro crosses’. Below is a
list of Euro, Pound, Yen and other crosses. E.g GBP/EUR, EUR/JPY

Exotic pairs. Trading exotic pairs offers you exposure to a wide range of
developing and emerging market economies across Asia, the Middle East
and Africa. In general, exotic pairs are not traded as often as majors or
crosses, which in turn means they are not very liquid markets and lack
consistent market activity.

There are often pros and cons associated with trading exotic currency
pairs. Because they are not so widely traded, they can often be subject to
higher trading fees, however when the market moves they can be subject
to some wild price fluctuations (suitable for the more experienced trader).

Below is a list of some of the main currency pairs referred to when talking
about exotic pairs. e.g USD/MXN

COMMODITY A commodity is a raw or unprocessed material that can

be bought or sold and is used to make something else that eventually is
consumed.

Commodities are used as materials in the production of goods or services.

A commodity has monetary utility and is considered a physical asset.

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 Commodity examples include those that plucked from the ground and
those that have to be dug up deep underground.

Typical commodities include:

 “Energy” (crude oil, gasoline, heating oil, natural gas)

 “Metals” (gold, silver, copper, platinum, palladium)
 “Softs” (cocoa, coffee, cotton, orange juice, sugar)
 “Grains and Oilseeds” (corn, soybeans, soybean meal, soybean oil,
wheat)
 “Livestock / Meats” (feeder cattle, live cattle, lean hogs)
 “Other” (lumber, dairy products)

Crude oil is currently the world’s most actively traded.

Commodities are traded on an exchange. e.g Gold, silver, oil, energy.

INDICES
An index is an indicator or measure of something, and in finance, it
typically refers to a statistical measure of change in a securities market. In
the case of Financial markets stock, Bond markets and indices consist of
a hypothetical portfolio of securities representing a particular market or a
segment of it. (You cannot invest directly in an index.) The S&P 500 and
the US Aggregate Bond Index are common benchmarks for the American
stock and bond markets, respectively. In reference to mortgages, it refers
to a benchmark interest rate created by a third party.
Each index related to the stock and bond markets has its own calculation
methodology. In most cases, the relative change of an index is more
important than the actual numeric value representing the index. For

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example, if the Financial Times SE (FTSE) 100 is at 6,670.40, that
number tells investors the index is nearly seven times its base level of
1,000. However, to assess how the index has changed from the previous
day, investors must look at the amount the index has fallen, often
expressed as a percentage.

e.g S&P 500, volatility 75 index.

CRYPTOCURRENCY e.g btc, bitcoin cash, ethereum

TYPES OF FOREX BROKERS AND FOREX ACCOUNTS

They are basically divided into Dealing Desks DD and No Dealing Desks
NDD

Dealing Desk brokers are also called Market Makers.

No Dealing Desks can be further subdivided into:

1. Straight Through Processing (STP) and

2. Electronic Communication Network + Straight Through Processing

(ECN+STP).

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If you’re new to Forex, the term ‘Forex broker’ might be new to you. So
what is a Forex broker – and why do they matter to traders?

Well, Forex brokers are incredibly important. Broadly speaking, a broker

is something that gives you to access financial markets to trade financial
instruments.

Financial instruments include currencies, stocks, precious metals and

CFDs. With this in mind, a Forex broker allows you trade currency pairs.

DEALING DESKS AKA MARKET MAKERS.

What is a Dealing Desk Broker?

Forex brokers that operate through Dealing Desk (DD) brokers make
money through spreads and providing liquidity to their clients. Also called
“market makers.”

Dealing Desk brokers literally create a market for their clients, meaning
they often take the other side of a client’s trade.
While you may think that there is a conflict of interest, there really isn’t.

Market makers provide both a sell and buy quote, which means that they
are filling both buy and sell orders of their clients; they are indifferent to
the decisions of an individual trader.

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Since market makers control the prices at which orders are filled, it also
follows that there is very little risk for them to set FIXED spreads (you
will understand why this is so much better later).

Also, clients of dealing desk brokers do not see the real interbank market
rates.

Don’t be scared though. The competition among brokers is so stiff that

the rates offered by Dealing Desks brokers are close, if not the same, to
the interbank rates.

What is a No Dealing Desk Broker?

As the name suggests, No Dealing Desk (NDD) brokers do NOT pass

their clients’ orders through a Dealing Desk.

This means that they do not take the other side of their clients’ trade as
they simply link two parties together.

No Dealing Desk brokers can either be STP or STP+ECN

What is an STP Broker?

Some brokers claim that they are true ECN brokers, but in reality, they
merely have a Straight Through Processing system.

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Forex brokers that have an STP system route the orders of their clients
directly to their liquidity providers who have access to the interbank
market.

What is an ECN Broker?

True ECN forex brokers, on the other hand, allow the orders of their
clients to interact with the orders of other participants in the ECN.

Participants could be banks, retail traders, hedge funds, and even other
brokers. In essence, participants trade against each other by offering their
best bid and ask prices.

ECNs also allow their clients to see the “Depth of Market.”

Depth of Market displays where the buy and sell orders of other market
participants are. Because of the nature ECN, it is very difficult to slap on
a fixed markup so ECN brokers usually get compensated through a small
COMMISSION.

Six things to consider when choosing a broker.

1. Security/Regulation.
2. Transaction costs
3. Deposit/Withdrawal.

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 4. Trading platform.
5. Execution.
6. Customer service

Examples of ECN brokers.

1. ICMARKETS
2. HOTFOREX
3. PEPPERSTONE
4. FORTFS
5. ADMIRAL MARKETS

Examples of Dealing Desks.

1. OANDA
2. XM
3. IG MARKETS.
4. FXTM
5. AVATRADE

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FOREX REGULATORS.

https://forexrank.co/top-five-fx-regulatory-bodies/

I have to send a link.

You don’t need to read all the names in the list but it’s just to let you know
that you are covered. Your funds are saved

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TYPES OF FOREX ACCOUNTS

1. Standard account.
2. Mini account
3. Micro Account.
4. ECN accounts.

STANDARD ACCOUNT

With a standard account, 1 pip movement is equal to 10 dollars’ increase

or decrease.
Thus 100 pips movement is equal to 1000 dollars.

MINI ACCOUNT

1 pip movement is equal to 1-dollar increase or decrease.

Thus, 100 pip movement is equal to 100 dollars.

MICRO ACCOUNT.

1 pip movement is equal to 0.1 dollar.

Thus 100 pips movement is equal to 10 dollars.
Very easy distinction

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ECN operates just like mini account but they have lower speeds thus, help
save you money.

DIFFERENT FOREX ANALYSIS AND HOW TO USE THEM.

By now you’ve learned some history about the forex, how it works, what
affects the prices, blah blah blah.

This is all obviously super important, but know that you’re now
thinking…

BORING! SHOW ME HOW TO MAKE MONEY ALREADY!!!!

Well, say no more friends because here is where your journey as a forex
trader begins…

Three Types of Forex Market Analysis

To begin, let’s look at three ways on how you would analyze and develop
ideas to trade the market.

There are three types of market analysis:

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  Fundamental Analysis
 Technical Analysis
 Sentiment Analysis

There has always been a constant debate as to which analysis is better, but
to tell you the truth, you need to know all three.

FUNDAMENTAL ANALYSIS

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Fundamental analysis is a way of looking at the forex market by analyzing
economic, social, and political forces that may affect currency prices.

To be able to use fundamental analysis, it is essential to understand how

economic, financial, and political news will impact currency exchange
rates. Fundamental analysis is the first analysis you do immediately you
open your app.

Fundamental Analysis Tools

The most useful tools for fundamental analysis consist of the economic
calendar, the financial news media, and historic fundamental data. The
economic calendar informs the trader on the scheduled time and date of
the release of major and minor economic data that can have an effect on
the nation’s currency.

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 TECHNICAL ANALYSIS.

Technical analysis is the framework in which traders study price

movement.

The theory is that a person can look at historical price movements and
determine the current trading conditions and potential price movement.

Someone who uses technical analysis is called a technical analyst. Traders

who use technical analysis are known as technical traders.

The main evidence for using technical analysis is that, theoretically, all
current market information is reflected in the price.

Technical traders generally ascribe to the belief that

“It’s all in the charts!”

If price reflects all the information that is out there, then price action is all
one would really need to make a trade.

Technical analysis looks at the rhythm, flow, and trends in price action.

Now, have you ever heard the old adage, “History tends to repeat itself”?
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Well, that’s basically what technical analysis is all about!

If a certain price held as a major support or resistance level in the past,

forex traders will keep an eye out for it and base their trades around that
historical price level.

Technical analysts look for similar patterns that have formed in the past
and will form trade ideas believing that price could possibly act the same
way that it did before.

Technical analysis is NOT so much about prediction as it is about

PROBABILITY.

Technical analysis is the study of historical price action in order to identify

patterns and determine probabilities of the future direction of price.

Some basis of Technical analysis.

1. Price Action.
2. Support and resistance.
3. Candlestick patterns.
4. Technical analysis Patterns.

SENTIMENTAL ANALYSIS

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Sentiment analysis is used to gauge how other traders feel about a
particular currency pair.

Earlier, we said that price action should theoretically reflect all available
market information. Unfortunately for us forex traders, it isn’t that simple.

The forex markets do not simply reflect all of the information out there
because traders will all just act the same way. Of course, that isn’t how
things work.

This is why sentiment analysis is important. Each trader has his or her
own opinion of why the market is acting the way it does and whether to
trade in the same direction of the market or against it.

WHICH TYPE OF ANALYSIS FOR FOREX TRADING IS BEST?

Ahhhh, the million-dollar question…

Throughout your journey as an aspiring forex trader, you will find strong
advocates for each type of analysis.

Whereas technical analysis (TA) involves poring over charts to identify

patterns or trends, fundamental analysis (FA) involves poring over
economic data reports and news headlines.
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Hardcore traders in the technical analysis camp scream, “Fundamental
analysis doesn’t matter! FU to FA! It’s already embedded in the price,
which you can see on the charts!”

Hardcore traders in the fundamental analysis camp scream, “Technical

analysis is just a bunch of imaginary lines and drawings! TA is BS!”

While folks in the sentiment analysis camp are observing the two camps
fight and monitoring their level of sentiments of each other!

Fortunately, the different types of market analysis complement each

other.

Even hardcore technical traders may find useful fundamental nuggets that
can help with their technical analysis. And vice versa.

In real-world markets, prices are constantly changing, and usually develop

trends. Those changes in prices can and do affect fundamentals.

This means that trends in prices affect fundamentals just as fundamentals

affect prices.

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 TYPES OF FOREX TRADERS

There are four main types of forex trading styles:

The Scalper

The Day Trader

The Swing Trader

The Position Trader

Scalpers hold onto for a few seconds to a few minutes at the most. Their
main objective is to grab very small amounts of pips as many times as
they can throughout the busiest times of the day.

Day traders usually pick a side at the beginning of the day, acting on their
bias, and then finishing the day with either a profit or a loss. These kinds
of traders do not hold their trades overnight.

Swing traders are for those people that like to hold on to trades for several
days to several weeks at a time. These types of traders can’t monitor their
charts throughout the day so they dedicate a couple of hours analyzing the
market every night to make sound trading decisions.

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Position traders are those that have trades that last for several weeks,
months, or even years. These traders know that fundamental themes will
be the predominant factor when analyzing the markets and therefore make
their trading decisions based on them.

FOREX TRADING SESSIONS

Yes, it is true that the forex market is open 24 hours a day, but that doesn’t
mean it’s always active the entire day.

You can make money trading when the market moves up, and you can
even make money when the market moves down.

BUT you will have a very difficult time trying to make money when the
market doesn’t move at all.

And believe us, there will be times when the market is as still as the
victims of Medusa.

This lesson will help determine when the best times of the day are to trade.

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Forex Market Hours

Before looking at the best times to trade, we must look at what a 24-hour
day in the forex world looks like.

The forex market can be broken up into four major trading sessions:
the Sydney session, the Tokyo session, the London session, and
Trump’s favorite time to tweet, the New York session.

Historically, the forex market has three peak trading sessions.

Traders often focus on one of the three trading periods, rather than attempt
to trade the markets 24 hours per day.

This is known as the “forex 3-session system”.

These sessions consist of the Asian, European, and North

American sessions, which are also called Tokyo, London, and New
York sessions.

Some traders prefer to differentiate sessions by names of the continent,

other traders prefer to use the names of the cities.
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(We prefer using city names but continents are cool also.)

DID YOU KNOW? The combined share of the top four trading
centers, which includes London, New York, Singapore, and Hong
Kong amounts to 75% of global FX turnover.
The International Dateline is where, by tradition, the new calendar day
starts.

Since New Zealand is a major financial center, the forex markets open
there on Monday morning, while it is still Sunday in most of the world.

Even though trading starts in New Zealand, it’s still called the Sydney
session. Makes no sense but we don’t make the rules.

Until Friday, there is no time during the week when the market formally
closes, although there is a brief lull in activity between about 19:00 and

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22:00 GMT when most American traders have gone home and most Kiwi
and Aussie traders are getting ready for work.

Other than the weekends, there are just two public holidays when the
entire forex market is closed, Christmas and New Year’s Day.

Below are tables of the open and close times for each session:

Yes, it is true that the forex market is open 24 hours a day, but that
doesn’t mean it’s always active the entire day.

You can make money trading when the market moves up, and you can
even make money when the market moves down.

BUT you will have a very difficult time trying to make money when the
market doesn’t move at all.

And believe us, there will be times when the market is as still as the
victims of Medusa.

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 FOREX INDICATORS

What are Forex indicators?

Before making trades on the platform, Forex traders examine various data
in order to gauge how the market is performing and how it is likely to
change in the future. With detailed market analysis, traders should be able
to employ more effective trading strategies and make higher returns.

Forex indicators are one way of examining market data. By examining

historical data, such as currency price, volume and market performance,
indicators seek to predict how the market will behave in the future and
which patterns are likely to be repeated.

Once traders have this information, they are able to make more informed
trading decisions and may make higher returns as a result.

Forex indicators are used by traders on a regular basis to increase the

chance of making a profit on the FX market

SIMPLY PUT, FX INDICATORS INDICATE POTENTIAL FX

MOVEMENT

Use of the forex indicators.

1. As a trading strategy.
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 2. To create an edge in the market.

3. As a confirmation tool.

4. Some helps in setting perfect entry and exit points.

Types of forex indicators.

1. Trend indicators.

2. Momentum Indicators

3. Volatility Indicators.

4. Volume Indicators

TREND INDICATORS

Forex trend indicators can indicate up trends, downtrends, or

consolidation phases with sideways movement. An uptrend, or bullish
trend, means that the price is moving higher. A downtrend, or bearish
trend, means the price is moving lower

4 examples of trend indicators.

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 1. Moving Averages. E.g
Simple Moving Average (SMA)
Exponential Moving Average (EMA)

2. Bollinger bands.

3. Relative Strength Index RSI

4. Moving Average Convergence Divergence. MACD.

MOMENTUM INDICATOR

Momentum is one of the most important concepts in technical analysis.

Momentum can be measured by various trading indicators including RSI,
Stochastics, Williams %R, and the Momentum Indicator among others.

The Momentum Indicator essentially measures the rate of change or speed

of price movement of a financial instrument. It measures the most recent
closing bar to a previous closing bar n periods ago. By analyzing the rate
of change, we can gauge the strength or “momentum” in a forex currency
pair or financial instrument.

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Examples.

1. RSI

2. Stochastics

3. William % R

4. Average Directional Index.

VOLATILITY INDICATORS

Volatility indicators are technical indicators. That means they aggregate

the data of past market movements, apply a formula, and display the result
in a way that allows traders to quickly and simply understand what is
going and what will happen next.

Volatility indicators are a special form of technical indicators. They

measure how far an asset strays from its mean directional value. This
might sound complicated but it simple
1. Bollinger bands.

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 2. Average True Range.

3. Dunchain channels.

4. Keltner channels.

VOLUME INDICATORS.

As a rule of thumb, a volume indicator is typically used together with

price analysis. Therefore, traders use it to spot a trend’s strength
Examples of Volume Indicators.

1. Money Flow Index. MFI

2. Accumulation/Distribution

3. On Balance Volume OBV

4. Chaikin Volume

How do we use forex indicators?

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 1. Understand how they work.

2. Know their pros and cons: Advantages and disadvantages.

3. Apply them on the chat and try them out on a demo.

4. Apply in your live account and analyze accurately.

If you have questions, please feel free to send a message on WhatsApp or

drop a call. +2349090331604

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