Forex trading class by Deba The Forex Crew 📊📈📉

Stage 1
❇INTRODUCTION

❇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

AN INTRODUCTION TO FOREX MARKET

Of all the financial markets,

The forex market is perhaps *the least well understood* and yet it impacts everyone of us everyday of
our lives in different ways.

Whatever we buy or sell, no matter how small or incidental they seem, they have been influenced by
what we call the forex market.

The most relatable example is when you travel abroad.

The first thing you do, either at the airport or before, is to change some of your own currency to that of
the country where you’re traveling.

A Nigerian/Ghanaian traveling to Great Britain would have to convert the Naira/Cedis to Pounds

Forex is just a Short form for FOREIGN EXCHANGE

It represents the market in which one country’s currency is quoted against that of another.

This is the principle of the foreign exchange and the small electronic boards you see at international
airports and banks are visual reminders currency exchange rates affect us all.
Whether we are traveling, buying products from overseas or consuming imported foodstuffs

All are determined by foreign exchange rates between countries around the world.

Forex is just a Short form for FOREIGN EXCHANGE

It represents the market in which one country’s currency is quoted against that of another.

It therefore provides the basis for anyone in the world, from governments, companies and private
individuals to agree a rate of exchange between one currency and another.

Without these rates there would be no agreed standard by which to set these rates for transactions

Read that again

As a result, all rates are quoted in pairs, with one country quoted against another.

For Example: EURUSD which means that *Euro is Quoted against the United States Dollars*

I believe this is clear with this example

Forex is one of the Largest market in the world

With a Total Daily Liquidity of $6.1 Trillion dollars

The New York Stock Exchange which is the Second Largest Market is having a Daily Trading Volume of
$169 Billion Dollars
While the Cryptomarket, for those of us who know about Bitcoins has a Total Market cap of just
$219Billion 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

This is to show the massive Liquidity.... Which is on the Forex Market.

That is how large the Forex market is

So we have seen a Brief Introduction of the Forex market, We would still see more. Let’s move on

Let's move on to the next topic

WHY DO WE HAVE A FOREX MARKET

I know it kind of hard to believe but the Internet won't lie ,it 💯 verified information you can check it out
your self.

The primary purpose of the *forex market* is to provide an easy and straightforward way for companies
to conduct international trade, allowing businesses, banks, governments and countries, to convert from
one currency to another *easily and quickly.*

It is one of the largest financial markets in the world, and every day turns over in excess of 7 trillion US
dollars.

HOW ARE PRICES DERIVED IN FOREX

The prices we see quoted on our screens every day come from major retail banks who effectively set
the central exchange rates by virtue of their interbank trading.

This group of banks, therefore, act as the central exchange for the forex market, and whilst they are
regulated as a bank

The interbank liquidity pool is dominated by the following major banks, who between them control
around 80% of the forex market:.

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

But we are now aware of their Functions and what they offer the Traders.

Let's Move on

Our Next important topic today is

TRADING TIMES AND TRADING SESSIONS

🎯Deutsche Bank - 20 % forex market share

🎯UBS - 12% forex market share

🎯Citigroup - 11% forex market share

🎯Barclay’s Capital - 7% forex market share

🎯RBS - 7% forex market share

🎯Goldman Sachs - 5% forex market share

🎯HSBC - 5% forex market share

🎯Bank of America - 4% forex market share

🎯JP Morgan Chase - 4% forex market share

🎯Merrill Lynch - 4% forex market share

There are Various Trading Times and Trading Sessions in Forex They include

1. SYDNEY SESSION

2. TOKYO SESSION

3. FRANKFURT SESSION

4. LONDON SESSION

5. NEW YORK SESSION

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

For example

SYDNEY Session represents Australia and other countries around that Time zone

TOKYO session sometimes called ASIAN Session represents Japan and some of the Asian countries.

FRANKFURT session which is in Germany represents Europe

LONDON Session represents The United Kingdom and the countries within it.

While

NEW YORK Session represents The Americas

Let's now get to their Trading Times....

We are entering into an important 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.

The first market to open is Sydney session, followed shortly after by tokyo, which opens at 11PM
GMT.

Trading Sessions & 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 in an Exercise book as you all will be needing them for your Trading.

Also Note that these Times are listed in GMT

Greenwich Meridian Time

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

DONT STRESS IF YOU DONT UNDERSTAND....JUST FOLLOW

Both the Sydney and tokyo markets then trade together until 7am GMT when the European forex
market opens, with Frankfurt following an hour later, and consequent deep liquidity as a result.

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
Forex is 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.... You can actually Trade this
Large, Highly Liquid market

The Asian markets close, leaving the Frankfurt and London markets to trade together until the open of
the open of the New York Market at 1pm GMT

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.

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 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.

You will come to understand these soon and know what I mean

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

Let me break it down in a layman’s language...

LA Liga gives access to Spanish clubs like Osasuna FC, The Great Real Madrid Fc😌 and others a license to
participate in the Spanish League.

Same as Barclays Premiership of England to Everton Fc, Almighty Manchester united and the rest....

Now you understand!

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

I will take u all through how to Trade on them, so just follow the Lectures closely
Let's move on to the next topic

WHO IS A FOREX BROOKER

Let's Move on

Our Next important topic today is

TRADING TIMES AND TRADING SESSIONS

There are various Brokers in the Forex Market

We have

🎯 Hotforex

🎯 Fxtm

🎯 Fxcm

🎯 Fbs

🎯 LiteForex

Etc

There are Various Trading Times and Trading Sessions in Forex

They include

1. SYDNEY SESSION

2. TOKYO SESSION

3. FRANKFURT SESSION

4. LONDON SESSION

5. NEW YORK SESSION

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

For example

SYDNEY Session represents Australia and other countries around that Time zone

TOKYO session, sometimes called *ASIAN Session* represents Japan and some of the Asian countries.

FRANKFURT session which is in Germany represents Europe

LONDON Session represents The United Kingdom and the countries within it.

While

NEW YORK Session represents The Americas

Let's now get to their Trading Times....

Let's move on!

Our Next Topic is

TERMINOLOGIES USED IN FOREX

Just Like every Field you try to learn, U would have to get accustomed to its Terms and Terminologies

So also is the Field of Forex, U would need to learn about the Terminologies so as to be able to
communicate with the Market, Analysts and also with your fellow Traders.

for you to be able to Learn and Trade, U should get to know some of the terms that is used in FOREX
Trading.

So that u can understand the News, Flow with your Fellow Forex traders and understand Analysts

It would be important if you have an exercise book to note some important informations

So let's get to it

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

They’re telling you that its going Up

The next terms we would see are

BULLISH MARKET.......

A market that is heading Upwards

BEARISH MARKET......

A Market that is heading downwards.

You will be needing them as U progress with the Training

BULLS..... The Buyers are referred to as Bulls

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