Forex Primer

[Dennis Carr]

Hello forumers

I wrote something that I call Forex Primer a short while ago and the guys at Forex Club agreed to make it available through their members area.

Forex Primer is a series of ten lessons designed to be a solid intoduction to Forex trading. These lessons look at the Forex market and the mechanics of trading. They introduce technical and fundamental analysis. They look at trading psychology and illustrate the advantages of using a trading system by examining a rudimentary trading system and looking at elements that all trading systems should have.

If you print out the lessons, you'll have a decent 60-page introduction to the world of Forex trading. The lessons are amply illustrated with diagrams and recent price charts.

Each lesson also contains a few homework tasks that I am happy to discuss on this forum and I forgot to mention that Forex Primer is completely free.

It is flagged as ten e-mail seminars in the members area and it says that it is coming soon. I spoke to one of the head honchos at Forex Club and he said that the technical hitches that were delaying Forex Primer would soon be overcome and that it would be available by next Friday (that's Friday 25th May).

I'll keep you posted of any developments.

In the meantime,

trade well!

Dennis

[Dennis Carr]

If all goes well Forex Primer should be available in the members area tomorrow. I thought that a rundown on the ten lessons would be useful so here goes:

Lesson 1: All you need is… This lesson looks at the reasons why you might want to get into Forex trading and sets out the aims of Forex primer.
Lesson 2: Forex lowdown This lesson gives a brief history of the Forex market; it identifies the main market players; it looks at the working hours of the market and discusses Forex conventions like currency pairs, prices and points.
Lesson 3: Leverage (a little help from your friends) This lesson discusses leverage and its benefits and dangers.
Lesson 4: Forex trading with Rumus2 This lesson introduces the reader to Rumus2 and shows how you can use this trading platform to open and close positions, receive a trading report and access Dow Jones news services.
Lesson 5: Orders This lesson discusses how to use the different types of orders and how to place these orders with Rumus2.
Lesson 6: A beginner’s guide to technical analysis This lesson looks at the advantages of different types of price charts and talks about trend lines, support and resistance and channel lines. It also gives a very basic introduction to charting.
Lesson 7: Technical indicators This lesson looks at the significance of the four key prices. It discusses simple moving averages (SMA) and exponential moving averages (EMA) and explains how to use moving averages. It then goes on to discuss oscillators, namely RSI and Stochastic and makes some suggestions how to exploit oscillators.
Lesson 8: Fundamental analysis This lesson explains what fundamental analysis is and how the financial news can affect currency rates.
Lesson 9: Trading psychology This lesson discusses how our emotions can have a negative impact on our trading and what we can do to minimize this negative impact.
Lesson 10: A simple trading system This lesson looks at what trading system in general offer the trader. Lesson 10 also gives the reader a rudimentary trading system to illustrate what trading systems should contain and to allow the reader to experiment with assessing a trading system.

Each lesson has a homework task which we could discuss together on this forum. The lessons are free, of course, and if you sign up for them you will receive one lesson every day (or every two days). I really think that they will be very useful for someone who is new to trading. At the risk of blowing my own trumpet, I think they are well-written and would be interested in any feedback (positive or negative) on either content or style.

I hope you give them a go.

Trade well!

Dennis

[Dennis Carr]

Hello

:o Anyone who has recently visited the member area will have noticed that Forex Primer is still not available. I chatted with the powers-that-be at fxclub.com and they promised to have them available asap.

What can I say? I'll keep you posted.
Dennis

[Dennis Carr]

I'm happy to say that Forex Primer is niow available! Just go to
http://fxclub.com/private-zone-en/
in the member area to subscribe.

[jdhj3131]

i figured out in lesson 1 question number 3 the answer i got was 477,542.50
is there a easier way to figure out this using calculus?

in lesson number 2,

can you please explain question number 2?
if GPB/USD = 1.8744 and USD/CHF = 1.2457 what is the current rate for GPB/CHF?
thank you

jeff hitchcock
i am interested in beta testing
my email is jdhj1@msn.com

[Jules]

Hello, jdhj3131. I wonder how you got those figures (477,542.500) in lesson 1 question 3. Is it the money you will have in 12 or 24 months? Is it in dollars or what? Could you describe the process of calculation to me, please, since I get other figures. Unfortunately, I don't think there is any other easier way to figure out this:(.

Lesson 2 question 2 - We've got 2 quotes: GBP/USD = 1.8744 and USD/CHF = 1.2457, which means that we can buy 1 GBP for 1.8744 USD and 1 USD for 1.2457 CHF. You should calculate the quote for GBP/CHF. What will it be?

Thanks a lot for your interest in Colt FX beta testing. We'll include you into the list.:)

[jdhj3131]

after 12 months i get 33,934
after 24 months my result = 477,000 in dollars

[jdhj3131]

3000
* .25
--------
= 750

-300
= 450
+3000
=3450 (at end of 1 st month)

2nd month

3450
* .25
---------
862
-300
=562
+3450
--------
4012.5 at end of 2 nd month

and so on

[Jules]

Yes, now I agree. I've got the same figures. I was surprised when I saw 477,542.500...I couldn't understand where you took them from? But now I agree:after 12 months - 33,934
after 24 months - 477,000 in dollars :)

[Jules]

Jeff Hitchcock, have you tested the trading system described in Lesson 10? If yes, please go to the thread called Trading System (Forex Primer) and let's dwell upon it there. If not, I 'd recommend you do it. It's really worth testing. :) And then join our discussion at the same thread.