The first stop for new forex traders is educating themselves about the market. Similar to any investment, forex trading requires more than capital. Equipped with knowledge and the right educational resources is the key to a lucrative trading experience. Attending an online forex course is a popular approach to learning forex.
AximTrade introduces a multiscale online forex course conducted by professional traders to help anyone get easily acquainted with the forex market. The course has been developed on the experiences and knowledge of successful traders. It is typically a self-paced course, as you set the learning pace based on your favorable schedule. Upon completing the course, it is when you can feel comfortable and ready enough to begin putting your knowledge into action through real trading.
Advantages of the Online Forex Course from AximTrade
Inspired by the role of knowledge in the world of trading, AximTrade established a hub for learning the Forex market. Besides its outstanding free online course, traders can easily access a wide array of educational articles, market news, and trading tools to successfully navigate the world of forex trading.
Our extensive online forex course is developed by professional traders, for novice traders. This course is designed so you can get the essential knowledge you need for successful trading. Our course is completely free, and accessible from anywhere at any time.
Attending this course allows you to build your own trading understanding derived from real live traders. This free online forex course suits anyone who wants to step into the world of forex trading. Regardless of your experience level, the course will help you gain the required knowledge and confidence to start your trading journey.
Online Forex Course Map
The course begins with the basic knowledge every trader should know about the market, and gradually moves forward to advanced technical aspects of trading.
Level 1 – Beginner
Introduction to Forex Trading – This level is dedicated to novice forex traders and is designed to provide the forex with basic and essential knowledge. Starting with defining the market, to basic terms and tools used in trading including leverage and the popular trading platform MT4. The first level will help to know:
- Introduction to the Forex Market
- Market Session Hours, Chart Types, and Analysis
- Bid, Ask, Spread, Pip, Lot, Order Type, Trailing Stop, Take Profit and Stop Loss
- Leverage, Margin, Swap, Margin Call, Stop Out & Risk management
- How to Open a Forex Account and MT4 Platform
- Learn How to Trade Using MT4 Platform
- Opening your First Trade
Level 2 – Intermediate
Forex Analysis – Now that you know the basics, it is time to move forward for a more detailed phase of forex trading. This level elaborates on the types of market analysis used by professionals; technical and fundamental. You get to know how each is applied to the market so you can choose the analysis that better suits you the best. In addition to an extensive explanation of the most popular indicators and how to use each to perform an accurate price analysis. The following are the topics included in this level:
- Forex Technical Analysis
- Forex Fundamental Analysis
- Moving Average Convergence Divergence (MACD)
- Bollinger Bands
- The Stochastic
- Average True Range (ATR)
- Parabolic Stop and Reverse (SAR)
- Average Directional Index (ADX)
- Envelopes Indicator
- Commodity Channel Index (CCI)
- Fibonacci Retracement Levels
Level 3 – Advanced
Forex Strategies – The third level is targeting more advanced trading knowledge, through which a trader will get to know different trading strategies used in the market. Forex strategies are made up of trading signals that trigger buy or sell decisions for a profitable return by going long or short. Strategies can either be based on technical or fundamental market analysis depending on your preferred analytic metrics. Here are the strategies covered in the advanced level of the online forex course:
- Pullback or Retracement
- Day Trading
- Breakout Strategy
- Price Action
- Swing Trading
- Position Trading
- Trend Trading
- Grid Trading
- Range Trading
- News Trading
- Carry Trade
Get Started with Forex Trading
Once you complete the online forex course, you’re ready to make your next move. You will have to search for a reliable forex broker, choose and open a forex account and set a strategy. The following tips will help you get started with forex trading.
- Pick a Reliable Forex Broker and Platform: The Forex broker is the intermediary entity between retail traders, like yourself, and the forex market. The broker provides financial services to facilitate the process of buying and selling foreign currencies for retail traders. There are many aspects to consider while choosing the best forex broker including regulatory compliance, currency pairs offered, customer support, and trading platform. Then start comparing account types and choose one that suits your goals as well as your capital and strategy.
- Start with Demo Trading: A Demo account uses virtual money and mimics the real-world trading environment where traders can practice real-world trading functions such as analyzing price movements, testing risk management strategies, understanding spreads, leveraging tools, and placing stop-loss and take-profit orders. If you’re a beginner, then you may need to consider opening a demo account before you risk your own capital. This way you can be more familiar with the trading platform and explore the market without risking any money.
- Move on to a Live Trading Account: It is okay to start with a demo account at first to get to know the platform and learn the basics of trading, but switching to a real account is by far the best. By doing this, you will learn Forex trading, and how to control how you perceive the market, resulting in more profitable trading. Unlike trading with a demo account, live trading triggers a variety of emotions that will change your trading experience. When you start risking real money, you will experience emotions like fear and greed, which will make you a better trader as you learn how to control them.
- Choose a Strategy to follow: Understanding the market and making decisions based on your financial objectives will ensure maximum profits and minimum risks. It’s best to decide first what type of trader you are and what are your trading goals. This will help you choose a trading strategy that fits you.
Copy Trade – The ideal starting point
Copy trading allows you to copy the trading activity of professional trader positions either manually or automatically. It is a good idea to consider copy trade as an entry point if you still lack the skills or confidence to trade on your own. By copying experts, you can reduce time spent on research and work on improving your trading capabilities.
Copy Trading comes with a package of benefits that include:
- Following and learning from expert traders
- A better understanding of trading strategies to become a better Forex trader.
- Helps avoid common mistakes most newbies commit.
- It is an excellent time-saving approach.
The Right Track To Follow When you Learn Forex
When it comes to learning forex trading, there are many different paths you can take. Some people prefer to learn by themselves, without the help of an instructor or online course. This approach is often highly personalized and tailored to your specific goals and needs as a trader. If you are self-motivated and have a strong desire to learn, then learning forex trading by yourself may be a good option for you.
There are many online resources available to help you get started with your self-guided learning journeys, such as forex trading forums or online discussion groups where traders share their experiences and offer advice and tips on different strategies and techniques. You can also find a wide range of free resources and tutorials online, including instructional videos and ebooks.
However, self-learning is not necessarily the right track for everyone. If you find that you need more structure or personal guidance in your learning process, or if you are looking to become a professional trader within a short time frame, then it may be best to enroll in an online forex trading course or sign up for a mentorship program. These courses and programs are typically run by experienced instructors and offer personalized instruction, guidance, and support to help you achieve your trading goals.
Ultimately, the best approach is the one that works best for you. Whether you choose to learn on your own or enroll in a course, it is important to stay focused, motivated, and committed to your trading journey in order to achieve success in the forex market.