Q1. What is Forex Learners Academy?
Forex Learners Academy teaches and prepares students to become professional traders. Whether you have never traded before, or would like to improve your trading techniques, this program will teach you the secrets of the active trading world, with an emphasis on technical analysis, risk management, fundamental analysis, market psychology, and the use of case studies. If you’re interested in building a career in financial trading or you want to become a successful day trader at home and do not have any effective trading strategies, this program will help you accomplish both of these goals.
Q2.What is Forex (FX)?
Forex (FX) is the marketplace where various national currencies are traded. The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day. There is no centralized location, rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).
The forex market is open 24 hours a day, five days a week, except for holidays. Currencies may still trade on a holiday if at least the country/global market is open for business.
Q3. How can I start trading Forex?
It’s easy to start day trading currencies because the foreign exchange (forex) market is the most accessible financial market: Many forex brokers require only $100 as a minimum initial amount to invest, and some go as low as $50. And unlike the stock market, for which the Securities and Exchange Commission requires day traders to maintain an account with $25,000 in assets, there is no legal minimum amount required for forex day trading. But just because you could start with only $50 or $100 doesn’t mean that’s the amount you should start with. You may want to consider some scenarios involving the potential risks and rewards of various investment amounts before determining how much money to put in your forex trading account. Click here to open a live / demo account.
NB: Forex trading is a serious business, to tell you the truth!! you must undergo training first before you start investing.
Q4. Who owns Forex and where is it located?
There is no central location for the foreign exchange market, often referred to as the forex (FX) market. Transactions in the foreign exchange market take place in many different forms, 24 hours a day, through different channels all over the globe, and wherever one currency is exchanged for another. All You Need is a Smartphone/Computer, and Internet Connection!
Q5. What are the working hours of Forex market?
The best time to trade is when the market is the most active and therefore has the biggest volume of trades. Actively traded markets will create a good chance to catch a good trading opportunity and make profits. While calm slow markets would literally waste your time & efforts — turn off your computer and don’t even bother!
Q6. Forex Market Hours
Time and date: 08:54 PM 14-August-2020 Africa/Accra
Click on a time zone for Daylight Saving Time (DST) transition dates and times.
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For example, trading EUR/USD, GBP/USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active. At those overlapping trading hours you’ll find the highest volume of trades and therefore more chances to win in the foreign currency exchange market.
Q7. Is it profitable?
The sky’s the limit! These markets offer highly liquid instruments that trade in large volumes. This makes it possible for traders to execute massive trade positions with little or no slippage. This is an amazing benefit which allows the average retail trader to build a highly scalable online business that will probably never run out of buyers and sellers. Of course, to make money in the forex, commodity, and other markets requires determination and proper trading education.
NB: Forex trading is a serious business, to tell you the truth!! you must undergo training first before you start investing.
Q8. How Do I Register?
Ever wondered How to Start in Forex trading? Well here you will get your first lesson. The best way to learn how to start trading forex is to follow these rules:
1 – Click here to open a live / demo account.
2 – Attend the forex class and become a professional trader since you will invest real capital
3 – Read our Free Forex Signals Learning Guides
Q10. What do I need to start trading?
All You Need is a Smartphone/Computer, and Internet Connection!
NB: Get an education. Before you trade anything, learn everything you can about investing and the markets. … Click here to open a live / demo account.
Q11. How Long Does it Take to go Through the Course?
Each course varies. The Beginner’s level is one week (Mon-Friday) intensive class plus six months of coaching and support. The Intermediate is Four Weekends and three months of coaching and support. The Advanced level is Four weekends and a lifetime of access to the Training Academy. Not to mention you will have bonus videos and downloadable resources to work through. Many students complete the 14-day course within 5 days and others within 1 month, the amount of time it takes is completely down to you as an individual. Click here to open a live / demo account.
Q12. How Much Money Do I Need to Day Trade Forex?
It’s easy to start day trading currencies because the foreign exchange (forex) market is the most accessible financial market: Many forex brokers require only $100 as a minimum initial amount to invest, and some go as low as $50.
And unlike the stock market, for which the Securities and Exchange Commission requires day traders to maintain an account with $25,000 in assets, there is no legal minimum amount required for forex day trading.
But just because you could start with only $50 or $100 doesn’t mean that’s the amount you should start with. You may want to consider some scenarios involving the potential risks and rewards of various investment amounts before determining how much money to put in your forex trading account. Click here to open a live / demo account.
Day traders shouldn’t risk more than 1% of their forex account on a single trade. You should make that a hard and fast rule. That means, if your account contains $1,000, then the most you’ll want to risk on a trade is $10. If your account contains $10,000, you shouldn’t risk more than $100 per trade.
Even great traders have strings of losses; if you keep the risk on each trade small, a losing streak can’t significantly deplete your capital. Risk is determined by the difference between your entry price and the price at which your stop-loss order goes into effect, multiplied by the position size and the pip value.
SUGGESTION: If you want to day trade forex, I recommend opening an account with at least $2000, preferably $5000 if you want a decent income stream. With a $3000 account, and risking no more than 1% of your account on each trade ($30 or less), you can make $60+ per day. Click here to open a live / demo account.
Q13. What is social trading?
Social trading takes place on modern online trading platforms that facilitate both copy trading and social interaction (centred around trading/market information) between the different users of these social trading platforms.
On social trading platforms, like FBS, trade ideas and details can be shared effortlessly between members. Investors and traders can also automatically copy the trades of experienced popular investors into their trading accounts by simply allocating portions of their trading capital to these individuals.
I can’t spend hours watching forex charts every day. Is it possible to trade forex with limited time available?
It is indeed! Many successful forex traders do end-of-day trading, or long-term trading, which doesn’t require much time at all. Even with an 8-5 job, you can still achieve considerable results trading FX in this way.
Of course, there are other ways to trade forex if your time is really limited. One of these ways is to use our premium forex signals. Another way is to engage in social trading with a social broker like FBS. With social trading, the trades of experienced traders are automatically copied to your trading account. This saves you a lot of time because you don’t need to look at charts or do market analysis at all!
Q15. Is it possible to start trading forex with a small amount of money or perhaps on a practise account?
Yes, it is. You can start trading forex with as little as $100. The availability of leverage enables small traders to open micro lot (1000 of a currency pair) forex trades with less than $15. This depends on the amount of leverage your broker offers, of course.
Traders who first want to acquaint themselves with the FX market before risking their capital, can Click here to open a live / demo account. and practice FX trading with virtual money.
Q16. What is leverage and how can it affect my profits or losses with forex trading?
Simply put, using leverage with forex trading means that a large trade position can be controlled with a small amount of money. For example, with some forex brokers who offer 1:500 leverage, you can buy or sell 1000 units of the USD/JPY currency pair with a ‘deposit’ of $2. The notional trade size of a 1K USD/JPY position is 1000 dollars. This means that with 1:500 leverage, you only need $2 to open a position worth $1000. The remaining $998 is borrowed from the forex broker. Of course, a trader will need more than $2 to maintain this position once it is opened. Using leverage to trade forex has the potential to magnify both gains and losses. The use of excessive leverage is a major reason why beginning traders lose money in the FX market. Click here to open a live / demo account.
Q17. What are the advantages of trading forex in times of political and economic instability?
Some traders like to short (sell) stocks when instability weighs on capital markets. Although this sounds like a good idea, it carries much more risk than buying (going long) stocks. This is because the maximum payoff on a short stock trade is 100%, which occurs when its price falls to zero. On the other hand, the potential loss on a short stock trade is theoretically infinite.
Contrary to this, whether a trader goes long (buys) or shorts (sells) a currency pair, the maximum loss on both sides is 100% while the maximum gain is theoretically unlimited. Thus, whether you’re buying or selling a currency pair, you don’t face the risk-to-reward ‘imbalance’ associated with shorting stocks. This makes forex trading more flexible and less risky than trading stocks in times when stock markets are at risk. Another advantage of trading in the forex market is the immense liquidity it offers, especially with the major currency pairs. Click here to open a live / demo account.
Q18. How volatile are digital currencies?
Digital currencies, or cryptocurrencies, are extremely volatile. Although forex is volatile, cryptocurrencies are even more so. Major currencies rarely move more than 5 percent in one day. Cryptocurrencies, however, often move more than 10 percent in a single day.
Q19. What leverage should I use to trade cryptocurrencies?
Cryptocurrencies, also known as digital currencies, are very volatile, so the leverage should be adjusted accordingly. If you use x10 leverage on your forex trades, then for cryptocurrency trades you must reduce the leverage by 8-10 times as the crypto market is 10 times more volatile. This means that you should trade with no leverage at all. If the volatility picks up further, you should cut your leverage even more – have fewer positions open. Don’t worry about making a good profit, there’s plenty of pips to be made in this market. Click here to open a live / demo account.
Q20. What are the trading hours of the cryptocurrency market?
The crypto market is a 24/7 market. The forex market, on the other hand, is a 24/5 market, open from Monday morning in Asia to Friday evening in the U.S.
Q21. Do you trade the Aussie (Australian Dollar) and the Kiwi (New Zealand Dollar)?
We trade all of the commodity currencies, especially against the U.S. dollar. After all, the AUD/USD and NZD/USD are forex majors. We like trading them and open many trades on them as they are sometimes easier to predict.
Q22. Which is a better indicator, the Relative Strength Index (RSI) or stochastics?
There is no such thing as a better indicator. There are numerous technical indicators, at least 10 of them are good to use for technical analysis including the RSI and stochastics. We work with the RSI indicator, as we are used to it but this should not detract from the stochastic.
Q23. How would you trade the EUR/USD? What strategies would you use? Would you buy or sell it?
We use both technical and fundamental strategies when trading forex pairs. The EUR/USD is the main major pair and it reacts well to fundamental and technical events. So, we combine a number of technical and fundamental indicators from an arsenal of strategies in order to provide the best forex signals for this pair.
Q24. In what direction do you think the US Dollar will go in the next couple of weeks?
Nothing is 100% sure in forex, that’s why it’s a tough business. But profits are there to be made if you know how to analyze the markets.
When looking at the longer time frames, like the daily and weekly charts, the U.S. Dollar is trending lower against most of its counterparts. Consequently, the U.S. Dollar Index is in an established downtrend.
As long as this index remains below certain important moving averages (e.g. the 200-day moving average), there is no reason to fight the prevailing downtrend. An important support level has also been broken on the U.S. Dollar Index late in 2017 and this same level could act as resistance in the near future. The most probable market direction for the dollar is lower and hence we remain bearish going into 2018.
Q25. What is the best way to trade Bitcoin?
As with most cryptocurrencies, Bitcoin has been in a long-term bullish trend since it’s inception. The trend has been getting stronger, so the way to trade Bitcoin is to go long (buy) with minimal leverage. It’s always recommended to wait for a decent pullback and only then open a position. With Bitcoin a buy and hold approach could be interesting. Open crypto live / demo account here
Q26. What is blockchain? How does it work and why is it so important for cryptocurrencies?
A blockchain is a public distributed digital ledger which keeps account of transactions in a decentralized fashion. The ledger is updated in real-time and all parties have a copy of this ledger. Cryptocurrency transactions are grouped together in blocks and added to the blockchain chronologically. Entries in the blockchain ledger cannot be altered retroactively because it would necessitate all the subsequent blocks to be altered and would require the cooperation of the different parties in the network.
With these aspects in mind, blockchain technology is an excellent solution to facilitate the decentralized, peer-to-peer nature of numerous cryptocurrencies, including bitcoin. Open crypto live / demo account here
Q27. What is the best approach for trading cryptocurrencies? Which strategies would you recommend?
Due to the powerful uptrend in which the most prominent cryptocurrencies find themselves, a buy-and-hold approach has outperformed most other trading strategies. When applying conservative money management, a ‘buy-and-hold’ cryptocurrency trading/investing strategy is a great option because of its simplicity and excellent performance. It’s really important to know that unleveraged crypto trading is your safest option. Open crypto live / demo account here
Q28. Can cryptocurrencies be copy-traded? And do you know of a good cryptocurrency social broker?
Absolutely! Like all other traded assets cryptocurrencies can be copy-traded. Take a look at our Binanace cryptocurrency review.. Binanace is the world’s largest social broker and currently offers 7 different cryptocurrencies and allows you to copy numerous popular investors’ crypto (and other) trades for free.
Q29. Is it possible to get notifications from you when you issue trading signals?
Yes. With an Forex Learners Academy’s premium signals account, you get instant sound, mobile, and email notifications to ensure that you never miss a trade again.
Q30. What is block-chain? How does it work and why is it so important for cryptocurrencies?
The blockchain behind bitcoin is a public ledger of every transaction that has taken place. It cannot be tampered with or changed retrospectively. Advocates of the technology say this makes bitcoin transactions secure and safer than current systems. Open crypto live / demo account here