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[Pages:114]The Forex quick guide

for beginners and privat e t raders

This guide was creat ed by Easy-ForexTMTrading Plat f orm, and is of f ered FREE t o all Forex t raders.

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In t his book: (cl ick a chapt er t it l e bel ow t o dir ect l y get t her e)

page

Int ro How t o use t his book

3

1.

Forex? What is it , anyway? (a simple int roduct ion, f or t he

4

very beginners...)

2.

What is Forex t rading? What is a Forex deal ?

6

3.

What is t he global Forex market ?

12

4.

Overview of t rading Forex online

21

5.

Training f or success

25

6.

Technical Analysis: pat t erns and f orecast met hods used

29

t oday

7.

Fundament al Analysis and leading market indicat ors

47

8.

Day-Trading (on t he Easy-ForexTMTrading Plat f orm)

56

9.

Twent y issues you must consider

64

10. Tips f or every Forex t rader

71

11. Forex glossary

78

12. Disclaimer (risk warning)

114

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Introduction: how to use this book

This book has been developed t o help t he Forex beginner, t hough experienced and prof essional t raders may f ind it a handy ref erence. Beginners and novice t raders are likely t o benef it f rom reading t he ent ire t ext , st art ing wit h Chapt er 1, which provides a basic overview of what currency t rading is, and how t o get st art ed. The chapt ers are set out in a logical f low, but do not need t o be read in order t o make sense, as each works as a discret e unit unt o it self . You may pref er t o f ocus f irst on t hose chapt ers t hat you f eel will complement your part icular knowledge base best . Chapt er 11 is a gl ossary of t erms (list ed alphabet ically) used in t he Forex business, t hat will prove helpf ul as you read t his book, and may serve as a valuable ref erence as you become an experienced currency t rader. Wit h t he help of t his guide, you will soon be ready t o st art t rading Forex ? in f act , wit h t he assist ance of t he online Easy-ForexTMt eam, you can st art t oday. We wish you success in your t rading, and hope you f ind t his book int erest ing, helpf ul and enj oyable. Bef ore you st art , please remember:

? Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. Bef ore deciding t o undert ake such t ransact ions, a user should caref ully evaluat e whet her his/ her f inancial sit uat ion is appropriat e f or such t ransact ions. Read more in t he "RISK WARNING" sect ion on Easy-Forex sit e / Risk Disclaimer.

? Always ask your Forex dealer (t he TRADING PLATFORM you wish t o t rade wit h) t he quest ions we prepared f or you in t his book (chapt er 9). Select ing t he appropriat e Forex TRADING PLATFORM is essent ial f or success in handling your t rading and monit oring your act ivit y, as well as maximizing prof it s, while minimizing losses and cost s.

Your comment s and suggest ions are highly appreciat ed (and may well be incorporat ed in our next edit ion)! Be our guest and writ e us: ForexBooks@

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[1] Forex? What is it, anyway?

The market The currency t rading (f oreign exchange, Forex, FX) market is t he biggest and f ast est growing market on eart h. It s daily t urnover is more t han 2. 5 t rillion dollars. The part icipant s in t his market are cent ral and commercial banks, corporat ions, inst it ut ional invest ors, hedge f unds, and privat e individuals like you.

What happens in the market? Market s are places where goods are t raded, and t he same goes wit h Forex. In Forex market s, t he " goods" are t he currencies of various count ries (as well as gold and silver). For example, you might buy euro wit h US dollars, or you might sell Japanese Yen f or Canadian dollars. It ' s as basic as t rading one currency f or anot her. Of course, you don' t have t o purchase or sell act ual, physical currency: you t rade and work wit h your own base currency, and deal wit h any currency pair you wish t o.

" Leverage" is the Forex advantage The rat io of invest ment t o act ual value is called " leverage" . Using a $1, 000 t o buy a Forex cont ract wit h a $100, 000 value is " leveraging" at a 1: 100 rat io. The $1, 000 is all you invest and all you risk, but t he gains you can make may be many t imes great er.

How does one profit in the Forex market? Obviously, buy low and sell high! The prof it pot ent ial comes f rom t he f luct uat ions (changes) in t he currency exchange market . Unlike t he st ock market , where share are purchased, Forex t rading does not require physical purchase of t he currencies, but rat her involves cont ract s f or amount and exchange rat e of currency pairs. The advant ageous t hing about t he Forex market is t hat regular daily f luct uat ions ? in t he regular currency exchange market s, of t en around 1%- are mult iplied by 100! (Easy-ForexTM generally of f ers t rading rat ios f rom 1: 50 t o 1: 200).

How risky is Forex trading? You cannot lose more t han your init ial invest ment (also called your " margin" ). The prof it you may make is unlimit ed, but you can never lose more t han t he margin. You are st rongly advised t o never risk more t han you can af f ord t o l ose.

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How do I start trading? If you wish t o t rade using t he Easy-ForexTMTrading Plat f orm, or any ot her, you must f irst register and t hen deposit t he amount you wish t o have in your margin account t o invest . Regist ering is easy wit h Easy-ForexTMand it accept s payment via most maj or credit cards, PayPal, West ern Union. Once your deposit has been received, you are ready t o start trading. How do I monitor my Forex trading? Online, anywhere, anyt ime. You have f ul l cont rol t o monit or your t rading st at us, check scenarios, change some t erms in your Forex deals, close deals, or wit hdraw prof it s.

Easy-ForexTM wishes you enj oyable and successf ul Forex t rading!

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