First Steps

Learn Forex Trading in 7 Steps

Step 1 – Maximising Your Tools 
Having the right trading tools and resources can make the difference between profit and loss. FXCM has many resources available, including free news and real-time charts to help you become a better trader. » More information 

Step 2 – Risk Management
Every successful trader should know how much risk he is willing to accept and how much he can earn with the next transaction. This is the basis for a realistic trading strategy.  » More information 

Step 3 – Two Types of Trading
There are two basic types of traders: technical and fundamental. Each has a very different approach. Click here to find out what type of trader you are» More information 

Step 4 - The Basis of Technical Analysis 
Technical analysis is performed using a few basic building blocks and is a method of projecting the direction in which prices are moving. Technical analysis provides a basis for making sound trading decisions. » More information

Charts: 

       1. What is a Market trend? 

  8. Trend Lines II 

       2. Trend Types 

  9. Trend Lines III 

       3. Classifying a Trend 

  10. Trend Channels 

       4. Information About Trend Lines 

  11. Recognising Supports 

       5. Trend Analysis and Timing 

  12. Recognising Resistance 

       6. Creating a Trend Line 

  13. 50% Retracements 

       7. Trend Lines I 

  14. 33% and 66% Retracements 


Step 5 – Using Technical Analysis 
FXCM provides traders with numerous tools for technical analysis. Click here to test your knowledge of technical analysis. » More information 

Step 6 – Fundamentals That Every Trader Should Know 
Every trader should understand why economic data, key interest rates and the global economy are extremely important to price movements on the forex market. 
» More information 

Step 7 – Trading Psychology 
Many traders’ greatest enemy is not the market but themselves. Learn four basic trading principles, which together will help you avoid the biggest mistakes. » More information 

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