Trade Smarter. Grow Faster
Introduction to Forex Trading
In our first course, you will be introduced to the world of Forex trading. You will learn what Forex trading is all about, why someone chooses to trade Forex, and what actually happens when you make a Forex trade.
We will take you from a simple explanation of how Forex works to the selection of the various currency pairs that make up Forex trades. We will discuss how currencies are listed on the Forex markets. What is the base currency and what is the quote currency? How do the global Forex markets interact?
We will also review the many reasons why someone might trade Forex rather than a different investment vehicle, and detail both the advantages and disadvantages of this type of trade.
This course will provide the background needed to understand our more advanced courses in Forex trading.
Fundamental Analysis
Fundamental analysis has much in common with methods of analyzing the real value of stocks and shares which seek to discover whether particular stocks are undervalued or overvalued. In this course, we will explain what fundamental analysis is, and how you can build and execute your own model to analyze different currencies within the market, using it to take a view as to which currencies are likely to rise or fall in value –even if you aren’t an expert economist!
Lesson 1 explains the concept of fundamental analysis in more detail.
Lesson 2 explains the major items of national economic data which need to be analyzed to build a fundamental view of a country’s economy and, by implication, its currency.
Lesson 3 explores the key role played by central banks in Forex fundamental analysis, explaining how to determine whether a central bank is pursuing a course which should tend to either weaken or strengthen its currency.
Lesson 4 concludes the course by bringing together all the threads with an explanation of how to apply the analysis for more profitable Forex trading. Using fundamental analysis can help improve any trader’s profitability and it isn’t as hard as is often assumed, so it’s worth giving it a try!
Scalping
At some point in your journey as a trader, you will come across the term “scalping”. What does it mean to scalp the market? How is it different from regular trading?
Scalping means taking very small bites out of the market, entering and exiting trades in only seconds or minutes at the most. It is a very precise way to extract profits from the market.
But with such speed and taking small numbers of pips, your trading will be different compared to longer-term traders. For example, spreads will have a higher impact on your profitability. You may be more restricted with the Forex pairs and times of day you choose to trade. You may even need to alter your computer setup to cope with the extra demands of Scalping.
In these lessons, we walk you through the exciting journey of scalping from the basics at the beginning to a complete scalping strategy at the end of the module.
Volatility
This course aims to ensure that you get an understanding of market volatility, how volatility is measured, and how to apply these measurements to your trading to find more profitable trade entries and ensure more successful trading with volatility trading. The course ends with a complete and rule-based volatility trading strategy.
Elliott Wave Theory: Principles, Patterns & Forex Trading Strategies
The theory that Ralph Elliott proposed was revolutionary in its time as it was one of the first concepts in the financial markets to recognize that prices do not move randomly. Elliott Wave Theory states that market price unfolds in specific trends and patterns. The theory attempts to define these trends so they can be predicted and traded profitability. In fact, Elliott himself made successful predictions using the theory in his lifetime. On one occasion, he predicted the low of the U.S. stock market in 1935 to within one trading day. The subsequent bull market lasted nearly 2 years and almost doubled the value of the Dow.
In this series of lessons, we are going to go through some of the most important Elliott Wave principles and we’ll look at how some of these are applied on real charts. You can use these lessons to start looking for Elliott Waves on charts and as a foundation for further study and Forex Elliott Wave analysis.
In Lesson 1 we begin by looking at the foundation of Elliott Wave and that is the Elliott Wave Sequence. This is where it all starts if you want to learn about Elliott Wave. From there, the theory breaks down the Sequence into its different types of Waves, primarily the Impulse Waves and the Corrective Waves.
In Lesson 2, we look at the rules discovered in Lesson 1 and apply them to real charts. We look at a bullish chart and a bearish chart and see if you can find where the Elliott Waves would be placed. This is great practice to make sure you have understood the main Elliott Wave principles.
In Lesson 3, we take a closer look at Corrective Waves. These are not traded as much by Elliott Wave practitioners, but they are very important to understand and spot to give you context of where the market is.
Ln Lesson 4, we look at how Fibonacci analysis can be applied to Elliott Wave theory. FX Academy has an entire module dedicated to Fibonacci, but here we look at how it is traded to find points on an Elliott Wave sequence. Lesson 4 begins with looking at Wave 3.
Lesson 5 continues the Fibonacci theme and this time looks at Wave 5 and its potential Fibonacci levels. Although Wave 5 is not as popular as Wave 3 to trade, it still provides opportunities to extract profits out of the market.
The Impulse Waves
In this lesson we discover main principles of Elliott Wave Theory and the rules that govern them. This is where you first learn about a full Elliott Wave Sequence and how it’s broken down into Impulse Waves and Corrective Waves! Impulse Waves are the most popular to trade and this Lesson covers 3 very important rules that govern all Impulse Waves.
Real Chart Examples
With the foundation built in Lesson 1, in Lesson 2 we look at two real charts, a bullish chart and a bearish chart, to see if you can identify Elliott Waves yourself. This is an important test in all learning – can you apply the ideas in a real trading scenario?
Corrective Waves
To get from one Impulse Wave to another Impulse Wave, there must be a Corrective Wave. Traders prefer Impulse Waves to trade because they are in line with the Elliott Wave Sequence or overall trend. Corrective Waves must be spotted to find the start of an Impulse Wave. Traders How do Corrective Waves work? What are the different types? Let’s find out in Lesson 3.
Trading Elliott Wave with Fibonacci Part 1
Fibonacci is a very useful tool in trading, and it is integral to modern Elliott Wave Theory. Wave 3 is by far the most popular Elliott Wave to trade. To help catch the beginning of Wave 3, traders use specific Fibonacci retracement percentages. Let’s find out how they do that in this lesson.
Trading Elliott Wave with Fibonacci Part 2
Wave 5 is the next most popular Elliott Wave to trade after Wave 3. Just like Wave 3, to help catch the beginning of Wave 5, traders use Fibonacci retracements. How is that done with Wave 5 compared to Wave 3? Let’s find out in this lesson and round off our Elliott Wave knowledge
Forex Breakouts
A breakout is what happens when the price of something pushes past a level it has not exceeded in a while. Breakouts are a key element of trading and have been a “bread and butter” tool of speculators for centuries. Academic research has shown that many of the strongest, most profitable technical trading “edges” set up just after major breakouts happen or fail. Learning to correctly identify breakout trading opportunities is a major step in becoming a profitable Forex trader, and our course on Breakouts will teach you how to find them and how to trade them. Breakouts can also be understood as the failure of support or resistance levels, so understanding breakouts may held you understand the concepts and real-world application of support and resistance also.
It is important to understand that not all breakouts are of equal importance. Breakouts of price ranges defined by shorter time frames have little statistical significance unless they are aligned with a longer-term breakout. In this course, we show that breakouts beyond at least 50-day high and low prices have tended to be meaningful when they happen in the major Forex currency pairs.
Breakouts are also often known as “momentum breakouts” or “volatility breakouts” when they are accompanied by unusually strong directional volume and/or momentum.
