For easiness just visit this site to know when and which session is on, set your time zone for perfect and correct Timings, and your good to go👇🏼👇🏼👇🏼

https://forex.timezoneconverter.com/?timezone=Africa/Lagos&refresh=5

The Forex market is a 24-hour market (it doesn't open on weekends). Though, it is most times regarded as the market that never sleeps,
regardless of your country or time zone, you can trade this large, highly liquid market.


You will get to understand this better soon📉🤝

The beauty about trading the Forex market is that the profit of one trader doesn't hinder the profit of another.

You might have successful traders as friends but they’d rather lend you money or buy you meager gifts than teach you how to trade the market.

This is partly due to the fact that teaching Forex requires in-depth knowledge and requires dedication of both parties.

It could also be as a result of selfishness. (Keeping your sources of income a secret has some advantages though).

Mayve has taken it upon myself to dispense the knowledge he has gathered on trading this market and help fellow youths become financially independent.

This is a rare opportunity. So I’ll indulge you to make the best of it by being fully committed, as the knowledge we'll be giving out will change your financial status for good.

TERMINOLOGIES USED IN FOREX

Just Like every field you try to learn, you would have to get accustomed to their Terminologies.

So also in Forex, we would need to learn about the Terminologies so as to be able to communicate with our fellow Traders and understand News reports.

I'll be sharing the common ones used for a start and their meanings, because we shall need them in the course of this webinar.

1. *Currency Pair*→ Forex is traded in currency pairs: one currency is bought, the other is sold. Together they make up the exchange rate.

2. *Exchange Rate* → the rate of which one country’s currency can be exchanged for another currency.

3. *Base Currency* → the currency that comes first in the currency pair (e.g. in GBPUSD the GBP is the base currency).

4. *Quote Currency* → the second currency quoted in a currency pair (e.g. in GBPUSD the quote currency is USD).

5. *Long position (Buy)* → a long position refers to the purchase of an asset, with the expectation that its market value is set to rise.

6. *Short position (Sell)*→ a short position refers to the sale of an asset, with the expectation that its market value is set to fall.

7. *Bid Price* → the market price for the sale of an asset

8. *Ask Price*→ the market price for purchasing an asset

9. *Spread* → the difference between the “bid” and “ask” prices (the selling price and the purchase price).

10. *Appreciation* → an increase in the value of an exchange rate

11. *Depreciation/devaluation* → a decrease in the value of an exchange rate

12. *Pips* → a pip stands for “percentage in point”, and is the smallest price movement any exchange rate can make. It measures the amount of change in the exchange rate for a currency pair in the forex market. A pip is the fourth and final number after the decimal point (with the exception of Japanese yen-based currency pairs, which are displayed to only two decimal points). Pips are the means by which market profits and losses are quantified

13. *Lot* → forex is traded in lots. A standard lot is equivalent to 100,000 units of the base currency. This is $100,000 if you were trading in US dollars. A mini lot has 10,000 and a micro lot has 1,000 units.

14. *Leverage* → Leverage is a way for an investor to increase their trading power and manage a greater position on the market with a nominal investment. An online broker may offer leveraged trading for up to 30 times the value of a trader’s initial investment.

15. *Margin* → the minimum deposit needed to maintain an open position (e.g. with an open position of $150,000 and leverage of 30, the required margin is $5,000).

16. *Risk management* → involves the use of strategies in order to help control or reduce financial risk. An example is a stop-loss order which is used to potentially minimise losses on a trade.

17. *Stop loss* → a stop loss order is a risk management tool allowing a position to be closed, once it reaches a specific pre-set price. This can protect against further losses on an open position if prices continue in an unfavourable direction for the investor. Please note, that placing a normal stop loss order does not guarantee you will be filled at that particular market price due to slippage.

18. *Take profit*→ a take profit order is a risk management tool allowing a position to be closed automatically, once it reaches a specific pre-set profit goal. This can protect against profits being lost in an unanticipated reversal of price direction before the investor can close the position.

19. *Profit/Loss* → the proceeds of a trade, which are from realised (closed) trade positions.

20. *Trend* → A trend is a price shift that results in a net change in value. An uptrend produces higher highs and lows and a downtrend produces lower highs and lows.

21. *Trending* →Trending refers to the phenomenon by which price movements tend to persist in a particular direction during a particular period of time. Market trends indicate upwards (bull market), downwards (bear market), and sideways market movements over time. They are categorized as secular (lasting long), primary (for medium time frames), and secondary (lasting short).

22. *Trading Session* →Periods of trading activity from the time a market opens until it closes. The forex market offers round-the-clock opportunity to trade; and because global forex sessions overlap due to the different time zones, it is possible to trade in different markets during the same session. There are four global trading sessions that operate in different time zones and according to summer or winter time: Sydney session, Asian session, London session, New York session.

23. *Technical Analysis* →Technical analysis is a means of assessing the price direction of an instrument, based on price charts and historical performance.

24. *Bearish* → A bearish market has falling prices. It is a market which is perceived to be weak.

25. *Bullish*→ A bullish market has raising prices. It is a market which is perceived to be strong.

26. *Ranging*→ A market is said to be ranging when it doesn't have a particular direction i.e it is neither going upwards nor downwards.

Let me stop there, you'll get to know more as we continue.

Please, Lets ensure we note down these terms in our notepad/jotter, we'll be needing them later in the course of this webinar.

We continue tomorrow 😜😜😀😀

Airforexone
Price- 145$

Hello everyone

FORMS OF TRADING📊

There are basically two forms of Trading in Forex




*FUNDAMENTAL ANALYSIS*


&


*TECHNICAL ANALYSIS*



Note them down!!!

*FUNDAMENTAL ANALYSIS*

This is also known as *News Trading*.
Here you are analysing the Forex market in respect to the News.

These releases are also referred to as fundamental indicators, and in a nutshell are *designed to provide central banks, governments, investors and traders with a view of the economy.*

These fundamental indicators cover every aspect of the economy, from jobs, to housing, unemployment, interest rates, exports, imports, consumer spending, manufacturing, commodities and prices.

*In short, anything and everything which can, and will affect the future economy.*