Are you a beginner looking to invest in the Forex market? However, are you still wondering why the information about this field is too broad or are you afraid to take risks in trading? To help you get rid of your worries, we will send you these Forex knowledge for beginners The most detailed and easy way to understand the Forex market. You can completely build a suitable trading system for you based on the sequence Learn Forex for Beginners. Hope with Basic Forex Knowledge below can help you become a courageous and successful investor in the Forex trading market
Forex knowledge summary for beginners
Chapter 1: Summary of Forex Fundamentals
Forex success has never been easy for investors, especially those new to the market. Because for beginners, they do not master basic knowledge, lack of trading strategies, how to use tools and psychological control, so they often lose a lot. To help newbies avoid unnecessary risk, in this chapter we have compiled the following important items of knowledge that every trader needs to know when entering this market:
- Basic market knowledge for beginners.
- Must-have tools and software for traders.
- Introduction to forex concepts and terms commonly encountered when trading.
- Learn more about Forex brokers.
- The most popular schools of market analysis.
Watch now: Synthesize Forex Basics
Chapter 2: Fundamental technical analysis when entering the market
If you are interested in forex fundamental analysis, this column is the perfect choice for you. This is a place to synthesize knowledge about basic types of price patterns, such as identifying trends or popular indicators used when doing technical forex analysis at top reputable forex brokers. Please refer to the articles in this category to improve your knowledge.
- Recognizing and How to Read Japanese Candlestick Charts on Forex
- Distinguishing common important price patterns
- The simplest steps to identify market trends
- Indicators you cannot miss when trading.
Watch now: Fundamental technical analysis when entering the market
Chapter 3: Become a pro with advanced technical analysis
This chapter will synthesize in-depth technical analysis knowledge with content related to advanced price patterns, Fibonacci indicators, Elliott waves, Ichimoku. As well as the analysis of various timeframes in trading. This is the place to provide advanced knowledge to help traders increase their chances of winning by participating in the market.
- Common advanced pricing patterns.
- Fibonacci indicator and golden ratio in Forex analysis.
- Identify volatility and how to trade with Elliott waves.
- Optimize entry and exit points with multi-timeframe analysis.
Watch now: Become more professional with advanced technical analysis
Chapter 4: Fundamental analysis, market sentiment and effective capital management
In addition to basic knowledge and in-depth technical analysis, analyzing market sentiment, understanding the correlation between currency pairs, or effective capital management method is also one of the key factors that brings the probability of successful transactions. Therefore, the information in this category is the perfect choice for you.
- Fundamental analysis on Forex trading for beginners.
- Correlation of currency pairs and their role in the forex market.
- Analyze market sentiment to optimize profits.
- Invest smarter with effective capital management methods.
Watch now: Fundamental analysis, market sentiment and effective capital management
Forex Investment Confidence, Should It Or Not?
Currently, there is an attractive form of investment with an invitation to interest rates of up to 50%, which is very interested by traders on social media channels, which is Investment Trust. This is a way in which the parties in charge, which can be banks, large financial institutions and investment fund management companies, will use the money you give them to carry out transactions for the purpose of earning a living. There are many companies established to receive trust transactions in Vietnam. However, most of these companies are frequently accused of fraud by the community. Therefore, before participating in the model of a company or investment group, you should carefully consider. Especially with places that promise suspiciously high profits.
Sites You Should Know When Investing in Forex
In addition to adding knowledge and continuous practice, you also need to consult how to play forex from previous traders to avoid unwanted risks. To do this, you must participate in famous forums and social networks for the investment community, such as:
ForexFactory: Not only do you get stocks from long-time traders, but you also update market news and economic calendar on this biggest Forex forum. Since Vietnamese is not yet supported, you can use translation support tools if your English is not really good.
See also: What is Forexfactory? Instructions for reading news on Forexfactory
Trading view: A platform with many trading tools like MT4 that most traders cannot do without. This is a community with a lot of Vietnamese because TradingView supports up to 18 languages including Vietnamese. You can participate by sharing and learning a lot of useful information on this platform.
See also: What is TradingView? TradingView User Guide for Beginners
MQL5: Provided by MetaQuotes (parent of MT4 and MT5 software). This is a community where you can consult numerous Forex signals in both paid and free formats. If you are a professional trader, you can also sell signals to other investors.
See also: What is MQL5? Should I buy signals in MQL5?
Investment: Financial website offering analysis from leading experts and news in a variety of areas.
TraderViet: You can view stocks and learn from other experienced traders on this largest Forex forum dedicated to the Vietnamese people.
I hope that through the above article you can get the most detailed Forex knowledge for beginners. The Forex market is a potential investment market, but it also carries a lot of risks. Before deciding to invest, you should equip yourself with basic Forex knowledge so that you can become a wise investor. Also, on social media there is a lot of information about Forex basic courses, so you also need to carefully consult the reviews of these courses. Don't forget to regularly visit the page to update new and useful knowledge.