Education:
Forex Education and other education systems are not different. FOREX is a short form of Foreign Exchange. If you think deeply the Forex education is more difficult than the general education system. The general students study their specified subjects. But Forex traders when they want to open a trade with a currency pair, they have to study about two countries economic, political, environmental, etc situation. Like, a Forex trader wants to open a trade of the EURUSD currency pair. Now the trader has to know individually the economic, political, environmental etc situation of the EUR currency and the USD currency. There are four steps in Forex Education System [FES].
Beginner:
- Introduction to the Foreign Exchange Market
- The most popular currency pairs and assets
- Importance ideas in the Forex market such as pip, point, leverage, margin, order types and more
Intermediate: - The role of economics
- Relationship between supply and demand
- The status of economic data statements
- Introduction of indicators
- Market sentiment
- Analysis to decide between buying and selling
Advanced: - Price action analysis to contribution a trader’s technical tactic
- Strong Technical Analysis Knowledge
- Focus to Fundamental data
- Proper knowledge of Risk Management
- Trading Psychology or Trading Discipline.
Expert: - Combine, survey, and preparation for a trading plan
- Take strong decision to variable market conditions
- Hold steady of destination and ability to accept loss