Forex, or foreign exchange, trading is the act of purchasing one currency while simultaneously selling another. It is an attractive option for those looking to earn additional income, either on a part-time or full-time basis.
The academy offers a variety of courses and lessons that provide comprehensive educational materials in an easy-to-understand format. Each lesson includes interactive forex videos, excellent written content and quizzes at the end.
AFM One Core Program
The AFM Proprietary One Core Program, a course offered by Asia Forex Mentor, is suitable for new traders who want to learn about the fundamentals of trading. The lessons are broken down into a series of videos that can be completed at each individual’s own pace. The videos are also designed to fit around full-time jobs, and the company’s founder Ezekiel Chew incorporates his own experiences into his lectures. He claims that this helps novice traders to avoid costly mistakes and become successful.
The course starts with a foundational lesson that covers trading principles, different methods, and tools. It then progresses to a more comprehensive level. This includes a number of lessons on how to trade using various vehicles, including stocks, commodities, and currencies. These lessons also cover the core concepts of trading, and they are accompanied by a resource library and mentoring. The program also offers a free trial period.
Another key feature of the One Core program is its focus on mental state and emotions. The program dedicates more than 15 minutes of each lesson to this topic, and it helps beginners avoid making bad decisions based on their emotions. This is a vital aspect of success in trading, and the academy’s courses offer excellent instruction.
The academy’s founder, Ezekiel Chew, is a world-renowned Forex trader with extensive experience. His teachings have helped many people achieve financial freedom. In addition to his One Core program, he offers other free courses, such as the Golden Eye group, which provides insights into trading setups and market analysis. He also writes a blog and hosts trading vlogs on YouTube. He aims to help beginners to become professional traders and reach their goals of becoming financially free.
Candlesticks
Candlesticks are one of the most important charting tools used by traders. They help to forecast market trends and make decisions that can improve trading results. However, candlesticks should be used in conjunction with other technical analysis techniques, such as volatility, volume and support/resistance.
A candlestick shows the opening, high and low trade prices for a particular time period. It also displays a “body” which is the central portion of the candlestick that highlights the direction the price moved. The upper and lower shadows on a candlestick are referred to as the wicks. The body is coloured depending on the price movements within the specified time period. If the scrip’s closing price is higher than its opening price, the candlestick body will be green; otherwise it will be red.
There are a variety of candlestick patterns that can be used to identify reversal signals in the market. For example, a bullish Harami pattern consists of two strong white lines bracketing 3 or 4 small declining black candlesticks and ends with the final white line forming a new closing high. Alternatively, a bearish Harami pattern has the opposite structure and signals a potential downward price reversal in the market.
Other notable candlestick patterns include the doji, morning star and hanging man. The doji is characterised by a slim body that lies within the high and low range of its mother bar, reflecting indecision in the market. The morning star, on the other hand, is formed when a long, white or green candlestick follows an evening star or a bearish candlestick with a small gap up and closes above the midpoint of its own body. Finally, the hanging man is a bullish reversal pattern that occurs after a downtrend and is typically followed by an upwards trend.
Candle Patterns
Candlestick patterns are one of the most effective predictive techniques used by traders worldwide. This type of trading chart allows for a clear representation of price movements and provides important clues about the interaction between buyers and sellers. As a result, it is an essential part of the toolkit for any trader who wants to be successful.
The first step to learning how to read and interpret candlesticks is to understand their significance. Candlestick patterns are based on up and down movements in prices, which are grouped into categories that can be used for analysis or to predict future price movement. These patterns are typically divided into bullish and bearish. Bearish patterns tend to signal that the price is likely to fall, while bullish patterns indicate that the price is likely to rise.
These patterns are not foolproof, however, as they represent tendencies rather than guarantees. Traders should use them as an indication of probable trends, but should also incorporate other tools and indicators in their strategy development. For example, a candlestick pattern might be an excellent indicator of a potential trend reversal, but it’s important to know that volume is often the key determinant of how strong or weak this signal is.
Traders should also avoid falling into the trap of overanalyzing every pattern. There are a large number of different candlestick patterns, and searching for perfection can lead to missed opportunities. A common pitfall is to forget about context, ignoring the fact that the formations might be the result of indecision or loss of momentum. For example, a bearish harami could indicate that sellers are outnumbering buyers, and this is a good time to sell.
Support and Resistance
One of the most important concepts for a trader to understand is support and resistance. These price levels indicate where a downtrend or an uptrend is likely to halt or reverse. They are also used as a guide for traders to plan their buy and sell positions.
Traders can identify the key support and resistance levels by using various methods including trend lines. These are straight lines that connect together several prices to highlight a pattern in the price movement. A line drawn from the lowest peak to the highest trough is considered a resistance level while a line drawn from the highest peak to the lowest trough is considered a support level. Traders may also use the moving average indicator to help identify these areas.
Not all support and resistance are created equal. Minor levels may delay rising or falling prices within a larger trend, while major ones could stop or reverse the entire trend altogether. In addition, the more times a market hits a certain level and then bounces off it, the stronger that particular level is considered.
It is also helpful to note that a previously established area of support in a bear move can morph into a new area of resistance in a bull move. This happens because of the herd mentality and the prevailing market sentiment. It is important for a trader to understand this concept in order to predict the direction of the market and then make wise trade decisions. This can lead to a successful trading strategy and profit opportunities. This is why it is important to know the support and resistance levels for each time frame.
Risk Management
A risk management program is an important element of any organization. This type of system allows businesses to identify potential issues that could negatively impact a project and make plans to mitigate them. While you can’t prevent every problem from occurring, a well-developed risk management system will allow you to deal with the majority of issues before they become serious problems.
To develop a thorough risk management strategy, it’s crucial to involve all stakeholders in the process. This includes employees, customers, suppliers, investors and regulators. By engaging these parties in the planning process, you can help them see why this type of initiative is so important to the company’s success. In addition, the input of these parties will be valuable in helping to identify areas where more training may be needed.
Whether you’re an aspiring forex trader or just curious about the industry, the FX Academy is an excellent resource for learning the basics of foreign exchange trading. The site offers 15 well-prepared courses for a variety of experience levels, and each lesson is interactive and stimulating. Some lessons also include quizzes and suggested reading for a broader understanding of the topic. The site also features a series of trading articles that are available to anyone without registration requirements.
The FX Academy’s free course offerings are a great way to get started in the industry. The lessons are designed to teach you the basic concepts of Forex trading, and each lesson can be completed at your own pace. Some lessons even feature strategy simulations that let you practice your new skills. The site also offers a free membership, which gives you access to trading tools and live market data.
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