Timothy Stevens

Forex Trading - Preparing For the Forex Market

How to?

Soon you will be raking in pips when you study forex trading at the School of Pipsology. This is because learning forex trading is made so much easier by people who like you have had their fill of self-educating before becoming successful forex traders. The School of Pipsology curriculum was developed with beginners like you in mind trying to figure out the odds and ends of forex trading. By replicating your schooling experience, the forex trading curriculum takes you through the successive grade levels as you learn the basics of trading in the forex market.

• At Kindergarten level, you will learn about the types of trading and the types of charts used for the analysis of the forex market. At the end of the level, you will already know how to analyze both market fundamentals vis-a-vis the economy and the price movements in the forex market using charts.

• The 1st Grade level focuses more on reading candlestick charts as a way to read market behavior. At this point, you will learn how to read the buying or selling activities of the bulls and the bears.

• The 2nd Grade level familiarizes you with the support and resistance levels. It tells you how to read the upper limit or resistance, the highest point before an upward market turns towards the opposite direction. The part where the downward movement switches back upward is read as support. With the support and resistance levels, you will also learn about plotting trend lines and channels.

• You will learn about the Fibonacci retracement and extension levels at the 3rd Grade level. These levels are used as support and resistance levels, and profit taking levels respectively. You will see how traders watch these levels to place their buy and sell orders.

• Moving averages is the focus of the 4th Grade level. Simple and exponential moving averages are introduced to you as a way of tracking the performance of forex trading prices and of showing you how other traders are moving.

• The 5th Grade level takes you through each of the most common chart indicators used in analyzing market indices. The Bollinger Bands, the Relative Strength Index, and the MACDs among others are introduced to you in this Grade level.

This is simply the start of your forex options trading and currency trading education. These basics will allow you to move on to the more advanced levels in the School of Pipsology curriculum. After completing the course, you will be able to actively do forex options trading and currency trading and start raking in pips.

Article Tags: Forex Trading, Forex Market

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