Lesson 1 Forex Secrets Inc.

How to start with Forex Secrets Inc.  Go to and open an accounthttps://  Select Gold account  Select a leverage no more than 200  Download Metatrader 4 application for PC  Download Metatrader 4 application for phone  Download GroupMe application for phone  Read disclaimer and terms of policy

With average daily turnover of US$4 trillion, forex is the most traded financial market in the world. Forex trading is the buying of one currency and selling another. Currencies are traded through a broker ordealer, and are traded in pairs. For example the Euro and the U.S. Dollar would be (EUR/USD). What is Forex

When can you trade The forex market is a 24-hour market from Sunday 5 PM ET to Friday 5 PM ET (US Eastern time)

The unit of measurement to express the change in value between two currencies is called a “pip.” If EUR/USD moves from to , that.0001 USD rise in value is one pip. A rise from to , which is a change in price would be one micropip. What is a “Pip”

Lot Size Every movement of a pip will have a different value dependent on the sized lot of the trade. For example, a.01 lot size will be worth $.10 for every pip movement, and $.01 for every micropip movement. Through your Forex career, you should slowly build your account with small lot sized trades, but you will be able to up your lot size as you gain experience and equity.

Spread The difference between the bid and the ask price is the spread. Different currencies have different spread prices, and the lower the spread, the faster you can profit.

In forex trading, a small deposit can control a much larger total contract value. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capital to a minimum. For example, a forex broker may offer 50-to-1 leverage, which means that a $50 dollar margin deposit would enable a trader to buy or sell $2,500 worth of currencies. Similarly, with $500 dollars, one could trade with $25,000 dollars and so on. Leverage We recommend a leverage no greater than 200

High Liquidity. Because the forex market is so enormous, it is also extremely liquid. This is an advantage because it means that under normal market conditions, with a click of a mouse you can instantaneously buy and sell at will as there will usually be someone in the market willing to take the other side of your trade. You are never “stuck” in a trade. You can even set your online trading platform to automatically close your position once your desired profit level (a limit order) has been reached, and/or close a trade if a trade is going against you (a stop loss order). Low Barriers to Entry You would think that getting started as a currency trader would cost a ton of money. The fact is, when compared to trading stocks, options or futures, it doesn’t. Online forex brokers offer “mini” and “micro” trading accounts, some with a minimum account deposit of $25. We’re not saying you should open an account with the bare minimum, but it does make forex trading much more accessible to the average individual who doesn’t have a lot of start-up trading capital. Why trade Forex

News The value of a country’s currency is affected by various news and economic indicators that reflect how a country is performing. The macroeconomic events that take place internally and internationally are factors that will have a huge effect on the value of a currency. News calendar can be found at Red = High impact news Orange = Medium impact news Yellow = Low impact news