FOREX TRADING

What You Need To Know About Forex Trading

TABLE
OF CONTENT
1. WHAT IS FOREX TRADING? 2
1.1 TRADING INSTRUMENTS 3
1.2 7 MAJOR CURRENCIES YOU CAN TRADE 4
2. TRADING CONCEPT (description) 5
3. METATRADER 4 PLATFORM 8
3.1 THE IMPORTANCE OF MT4 8
3.2 HOW TO OPEN A TRADING ACCOUNT? 9
3.2.1 HOW TO OPEN A TRADING ACCOUNT? 9
3.2.2 HOW TO INTSALL METATRADER 4?10
3.3 FEATURES OF METATRADER 4 11
4. HOW TO OPEN A TRADE? 14
4.1 HOW TO PLACE YOUR FIRST TRADE? 15
4.1.1 HOW TO USE THE ORDER WINDOW? 16
4.2 HOW TO ADJUST YOUR LOT SIZE? 17
4.3 WHAT IS A STOP LOSS & TAKE PROFIT 18
4.3.1 SETTING STOP LOSS & TAKE PROFIT 19
4.3.2 MODIFY STOP LOSS & TAKE PROFIT 21
4.4 SETTING LIMITS AND STOPS IN MT4? 23
4.5 HOW TO CLOSE TRADES IN MT4? 24
5. TWO SCHOOLS OF THOUGH 25
5.1 FUNDAMENTAL TRADING 25
5.2 TECHINCAL TRADING 26
6. TYPES OF TRADERS 27
6.1 SWING TRADING 27
6.2 SCALP TRADING 28
7. RISK MANAGEMENT 29
7.1 HOW TO MANAGE YOUR RISK? 30
7.2 STEPS TO BECOMING A SUCCESSFUL TRADER 31

Forex trading involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk.
1. WHAT IS
FOREX TRADING
Forex, also known as foreign exchange or simply FX, is the world’s largest
market. It is a true 24-hour market, starting from 5 p.m. EST Sunday to 5
p.m. EST Friday. Saturdays and Sundays are closed for trading. Forex
trading occurs not on a centralized exchange as it does for other
assets such as stocks and commodities
but through a global network of banks,
dealers and brokers.
FOREX
This network is referred to as the interbank
or wholesale FX market. The forex market
operates through an electronic platform,
known as an Electronic Communications
Network (ECN). The ECN allows traders to
execute trades directly with one another
without going through a traditional broker
or bank.
 1.1 TRADING
INSTRUMENTS
In the world of forex trading, there are a variety of different instruments
that you can trade. The most common are currency pairs, which are two
different currencies traded against each other. For example, you could
trade EUR/USD, which is the euro against the US dollar.

A SAMPLE QUOTE FOR THIS PAIR

CURRENCY PAIRS LOOK LIKE THIS: COULD BE:

EUR/USD 1.22324
The second The base currency is always
currency is called worth one. The quoted price
The first currency the quote or
shows how much of the quote
listed is the base terms, currency.
currency you'll get for one unit
currency.
of the base currency. So in this
case, 1.EUR is worth
approximately 1.22 USD.
Other popular instruments
include commodities, such as

GOLD

OIL

INDICES You can also trade individual

stocks, but this is less
which measure the performance common in the forex world.
of a basket of stocks.
3
 1.2 7 MAJOR
CURRENCIES YOU CAN TRADE
There are eight major currencies that are traded on the forex market.
They are:

U.S. DOLLAR
1 The dollar is the most commonly traded currency on the forex market, and it is
also considered to be the world’s reserve currency. The U.S. Dollar Index
measures the value of a basket of currencies against a single U.S.

EURO
The euro is the official currency of the European Union and was first launched in
1999. The exchange rate of the euro against the dollar is determined by the
European Central Bank (ECB), which sets interest rates and monetary policy for
2
central banks in member countries.

JAPANESE YEN
3 The Japanese yen is the second most actively traded currency on the forex
market. The Japanese yen is considered a safe-haven currency due to its
relationship to gold, which was previously used as a standard for currency in the
country.
BRITISH POUND
The pound is the official currency of the United Kingdom and Northern Ireland, as
well as its dependent territories. It's also one of the most closely followed
currencies on the forex market. The pound has been tied to gold since 1816 and
4
was originally pegged to the value of silver in 1717.

SWISS FRANC
5 The Swiss franc is one of the most actively traded currencies on the forex
market, and it's also considered a safe-haven currency. The Swiss franc has
been linked to gold since 1850.

CANADIAN DOLLAR
The Canadian dollar is one of the most stable currencies in the world. It's also
used as a reserve currency and one of Canada's main exports is its financial
system. This has caused it to maintain ties to gold since 1854.
6
AUSTRALIAN DOLLAR
7 The Australian dollar is one of the most stable currencies in the world. It's also
been tied to gold since 1851.

Each of these currencies has its own unique characteristics and is

affected by different economic factors.

1.1.3 Which currencies should I trade?

The answer to this question depends on a number of factors, including
your trading style and the amount of capital you have available for
trading.

4
2. TRADING
CONCEPT (DESCRIPTION)
PIP SPREAD
Pip is short for "price interest point", The difference between the bid and ask
and is the smallest possible price prices. In other words, the difference
movement of a currency pair. For between the price at which you can buy
example, and the price at which you can sell a
currency pair.

HEAR’S HOW TO COUNT PIPS HEAR’S HOW TO CALCULATE

100 PIP 1 PIP A SPREAD

1.28536
Base Currency Quote Currency

EUR/USD
Bid
Price 1.2853 1.2855 Ask
Price
1,000 PIP 10 PIP 0.1 PIP
Pip
1.28536 1.28536 =+ 1 PIP
1.28536 1.28536 =+ 10 PIP
1.28536 1.28536 =+ 100 PIP
1.28536 1.28536 =+ 1000 PIP Spread = 1.2853 – 1.2855 = 2 pips

MARGIN LEVERAGE
Margin is the minimum amount of Leverage allows you to trade with a
funds you must deposit in your larger amount of capital than you
account to open or maintain a would normally be able to. It is
position. expressed as a multiple, for example,
10:1, 20:1, 100:1, 500:1, or 1000:1.
Buying Power
Deposit
Margin
R20,000
Required Margin
R20

L 1000:1
LEVERAGE LEVERAGE
5
2. TRADING
CONCEPT (DESCRIPTION)
FREE MARGIN TAKE PROFIT
Free Margin is the difference Take profit is the price point at which
between your account balance and you decide that the price of an
the amount of margin required to instrument has moved in a favourable
maintain your position. As a general way and you want to take your profit.
rule, the more leverage used, the less
free margin you will have in your
account.
Take
HEAR’S HOW TO CALCULATE Profit
FREE MARGIN

FREE MARGIN = EQUITY – USED MARGIN

$600 = $1000 – $400

Entry

STOP LOSS LOT SIZE

When you set a stop loss, you are In forex, a "Lot" defines the trade size, or
telling the trading platform to the number of currency units to be
automatically sell an instrument bought/sold in a trade. One Standard
when it reaches a certain price. You Lot is 100,000 units of the base
set a stop loss to minimize your currency.
losses should the market move
against you. Most brokers also allow trading with
fractional lot sizes, down to 0.01,
sometimes even less. Fractional lot
sizes are categorized as mini lots (0.10),
micro lots (0.01) and nano lots (0.001).
LOTS UNITS
Standard 1.0 100,000
Entry Mini 0.10 10,000
Stop
Loss Micro 0.01 1,000
Nano 0.001 100
6
2. TRADING
CONCEPT (DESCRIPTION)
CHART CANDLESTICKS
A chart is a graphical representation A type of price bar that shows the
of the price movement of an closing price and high, low, and opening
instrument over time. Price bars are prices for a given time period.
presented on the x-axis and time on Candlesticks are shown as vertical
the y-axis. Each bar represents a rectangles with a hollow or filled portion
specific date and price. New bars representing the range between the
appear at regular intervals, open and close.
depending on the selected time
frame HIGH HIGH
UPPER SHADOW / WICK

CLOSE OPEN

Close on 3rd
Candle REAL BODY

Entry on
Break

OPEN CLOSE
LOWER SHADOW / WICK

LOW LOW
Stop Loss

BULL MARKET BEAR MARKET

PRICE TRENDING UP PRICE TRENDING DOWN

SUPPORT AND RESISTANCE TRADING SESSIONS

The level at which an instrument has A trading session refers to the active
had a significant price movement trading hours of an asset or a given
upwards or downwards. Resistance locale. Usually, different markets follow
levels are areas where prices stopped different trading sessions. Like so…
rising for some time and were difficult to
break through.
RESISTANCE Major
Sessions Market UTC/GMT EST

Asian Tokyo 00:00 – 09:00 19:00 – 04:00

EU London 08:00 – 17:00 03:00 – 12:00

US New York 13:00 – 22:00 08:00 – 17:00

SUPPORT
Support levels are areas where the Pacific Sydney 22:00 – 06:00 17:00 – 01:00
market tended to reverse its trend and
resume its previous direction.
7
3. METATRADER
4 PLATFORM

3.1 THE IMPORTANCE MT4 has been created

with the trader in mind
and comes equipped with all the
OF MT4 analytical tools a trader needs to
chart assets price movements
MetaTrader 4 is a trading platform
and conduct technical analysis.
developed by MetaQuotes
The user interface is
Software for online trading in the
straightforward and easy to use.
forex, contract for differences
Customizable indicators and
(CFDs) and futures markets. MT4,
charting tools allow traders to
as it is commonly known, can be
create their own unique trading
downloaded at no cost from
strategies. And automated trading
many online forex brokers. The
capabilities make it easy to
software is licensed to foreign
implement those strategies with
exchange brokers who provide the
just a few clicks of the mouse.
software to their clients.

For these reasons, MetaTrader 4

has become the industry
standard trading platform for
retail forex traders.

8
3.2 HOW TO
INSTALL METATRADER 4
MetaTrader 4 is a popular platform for forex trading. It is easy to use and
provides all the features that a trader needs. In this section, we will show
you how to install MetaTrader 4 on your computer.

3.2.1 HOW TO
OPEN A TRADING ACCOUNT
In order to start installing MetaTrader 4 on your device, you first need to
open an account with FBKmarkets.com. This process is simple and can
be done in just a few minutes.

FBK Markets is a reliable and user-friendly online broker that offers its
clients a wide range of services for trading on international financial
markets.
Opening an account is easy,
just follow the step-by-step
instructions below.

Fill out the application form on

the official website of FBK
Markets (FBKmarkets.com). You
will need to click the menu icon
and click “register now”.

9
Step 1: Step 2: Step 3: Step 4:
Register Profile Profile Verification Create Account Check your email
You will need to Verification of Get started by get your trading
enter your your creating a credentials sent
personal application. Demo or Live to you via email
information and This step is account. upon completion
contact details required in of account
(email, phone order to creation from the
number etc), as withdraw broker, and you
well as fill in the funds from can begin
required fields. your account. trading!

Name :

Surname :

Address :
Create Live
Account

Register Verify

3.2.2 HOW TO
INSTALL METATRADER 4
Installing MetaTrader 4 is quick and
easy. Just follow these steps:

1. Download the installer from the

MetaQuotes website.
2. Run the installer and follow the
prompts.
3. Once installation is complete,
launch the platform and log in with
your trading account credentials.
4. You’re now ready to start
trading!

If you need any help, our support team

is always available to assist you.
10
3.3 FEATURES
OF METATRADER 4
Metatrader 4 offers many features and tools to help traders be
successful. Some of the features include:

Trading with MetaTrader 4

You can implement complex strategies
using the powerful MetaTrader 4
trading system. All these tools are at
your disposal: The Market and pending
orders, Instant Execution and trading
from a chart, stop orders and trailing
stops, tick charts and trading histories.

MetaTrader 4 allows traders to trade in a flexible and convenient manner.

• A three-mode execution system • A total of four pending orders
• Two market orders • Two stop orders and a trailing stop

Analytics in MetaTrader 4
The MetaTrader 4 platform is known for its
analytical functions. You can examine
quotes in all their details and react quickly
to any price changes with online quotes
and interactive charts with 9 periods.
This task is greatly simplified by 23
analytical objects and 30 built-in technical
indicators. Nevertheless, they only scratch
the surface.

Thousand of additional indicators are included in the free Code Base and built-in
Market, increasing the number of analytical options. A movement in the market can be
detected and reacted to in a timely manner with the analytical tools you have.
• Interactive charts • 23 analytical objects
• 9 timeframes • 30 technical indicators

11
The MetaTrader Market
Expert Advisors and technical indicators
can be found in the built-in Market.

You can run any of the thousands of

trading robots or indicators that exist on
the platform without needing to leave. The
process of purchasing and using robots is
fast and easy.
• the widest selection of trading applications in the world
• 1 700+ trading robots and 2 100+ technical indicators
• free and commercial products

Algorithmic trading
Almost any trading strategy can be
formalized and implemented as an Expert
Advisor, so that it automatically does all
the work for you. A trading robot can
control both trading and analytics freeing
you from the routine market analysis.
MetaTrader 4 provides the full-fledged
environment for the development, testing
and optimizing algorithmic trading
strategies.

• The MQL4 language of trading

strategies
• MetaEditor
• Strategy tester
• Library of free trading robots

12
Mobile trading
If you want to trade in the financial
markets away from your desk, you must
have smartphones or tablets that you
can use with MetaTrader 4 apps. The
content available in these mobile apps
gives you the full capability to integrate
trading functionality with your other
habits, comparing and tracking your
positions, and implementing various
trading strategies. Of course, all these
features are available from anywhere • Support for iOS and Android OS
in the world 24 hours a day. • Full set of trading orders
• Analytics and technical indicators

Alerts and financial news

The latest financial news lets you prepare
for unexpected price changes in the stock
market and help you make a rational
trading decision. Late-breaking alerts keep
you informed about current events, so you
can take appropriate actions.

• Current financial information

• Timely notification
• Different market conditions

These are just some of the many features that Metatrader 4 has to offer.
If you are looking for a comprehensive Forex trading platform, then
Metatrader 4 is definitely worth considering.

13
4. HOW TO
OPEN A TRADE
When it comes to forex trading, the
process of opening a trade is
relatively simple. All that's required
is for the trader to place a buy or
sell order with their broker, and the
trade will be executed at the best
available price.

Of course, there's a bit more to it

than that. Before placing any
trade, it's important to have a
clear understanding of what you're
trying to achieve. Are you looking
to simply take a position in the
market, or are you looking to scalp
some quick profits? Once you
know your goals, you can begin to
formulate a strategy.

Once you've got your strategy in

place, it's time to open a trade. This
is done by placing an order with
your broker. You'll need to specify
the size of your position, as well as
your entry and exit prices.

14
4.1 HOW TO
PLACE YOUR FIRST TRADE
If you want to place an order, you will use either a New Order button on
the toolbar or place an order in the in Market Watch.

New Order

Market Watch

You can use the Order

feature in the Market
Watch to amend current
orders or open a new
order by Double-clicking
or right-clicking on the
desired instrument in the
Market Watch.
4.1.1 HOW TO
USE THE ORDER WINDOW
The Order window allows you to modify your order details, including the
volume (lot size) and setting a Stop Loss or Take Profit.

You will receive the message "Invalid Stop Loss or Take Profit" if your Stop
Loss or Take Profit is too close to the current price.

A stop loss or take profit option is a very useful tool for managing risk.

There is a drop-down list in the "Symbol" field that lets you choose the
instrument you are trading.

Left of the chart is a tick chart that shows real-time prices.

In the comments field, you can leave a comment on the trade.

16
4.2 HOW TO
ADJUST YOUR LOT SIZE?
Traders who trade forex do so by buying and selling different currencies
with the aim of making a profit from the difference in the exchange rate.
When it comes to deciding how much currency to buy or sell, this is
known as your "lot size."

The size of your lot will determine

your profit or loss based on how
the market moves. If you're buying
a currency and the price goes up,
then you'll make a profit; if the
price falls, then you'll make a loss.
Conversely, if you're selling a
currency and the price goes
down, you'll make a profit, while
an increase in price will result in a
loss.

So how do you decide what size

lot to trade? There's no single
answer to this question, as it
depends on your investment
goals and risk tolerance.

17
4.3 WHAT IS A
STOP LOSS & TAKE PROFIT
When trading forex, it is important to set stop losses and take profit
levels. Stop losses are used to protect your capital, and take profit levels
are used to lock in profits. MetaTrader 4 (MT4) offers traders the ability to
set stop losses and take profit levels.

For managing trading risks, traders

often use this tool. One method for
preventing margin calls and
liquidations of open positions is
the use of a Stop Loss. A trade's
Stop Loss should be placed above
the margin call level to be
effective.

When traders use S/L and T/P, they

don't have to worry about
manually executing trades, trading
emotionally, or waiting for a
certain price.

It is important for traders to understand the characteristics of each

market they are trading.

The levels of stop-loss and take-profit orders can be determined by

market analysis, trend patterns, and various indicators.

18
4.3.1 SETTING
STOP LOSS & TAKE PROFIT
Modify trade in the Order window
In the Order window, you can modify your order starting from the order
volume (lot size) and setting up Stop Loss or Take Profit. Once you click
on the arrows in the S/L and T/P fields, the current price will pop up and
you can adjust it from there.

If the S/L or T/P you have

set is too close to the
current price, the
message “Invalid S/L or
T/P” will be shown.

19
How to calculate the Stops level
for the instrument
To start calculating at what level
your S/L and T/P should be placed,
go to the instrument you want to
trade in the Market Watch. Then
select ‘’Specification’’ from the
context (right-click) menu.

In the new window

that opens you can
see the ”Stops level”
for the instrument. This
number shows the
minimal difference
you need to have
between the current
price and the S/L or T/P
levels you want to set.
This difference is
measured in pips.

This means that if the ”Stops level” for the instrument is 30 and the current
price level is for example 1.32136 and you decide to buy, you will have to set
up an S/L of at least 1.32106 and a T/P of at least 1.32166. Once you submit
the order, a message confirming the successful placement of the trade
will be displayed.

20
4.3.2 MODIFY
STOP LOSS & TAKE PROFIT
You can add and modify S/L and T/P after you have already placed an
order. From the Terminal window, in the Trade tab, you can see all of your
open trades. With a right-click on the trade, you can choose to close,
modify or to add a trailing stop. Select “Modify or Delete Order” from the
menu.

The modify window will open, with a “Modify Order” section where you
can see the ‘’Stops level” of the instrument and ”Copy as” buttons (in blue
and red). They copy the current price into the S/L and T/P fields, allowing
you to modify the levels more easily. If the numbers you enter are invalid
the big ”Modify” button at the bottom will turn gray, signaling you to
make corrections. Click the button to submit the changes when you are
ready. The new S/L and T/P levels will appear in the Terminal and on the
chart.
21
To modify the Stop Loss and Take Profit you can also use S/L and T/P lines
on the chart. Simply drag them with the mouse. If you use charts for your
trading this is the easiest method to use.

Drag to modify
Profit: -100.00 USD
Pips: -100

All times are AEST.

22
4.4 SETTING
LIMITS AND STOPS IN MT4
You can select either Market execution or Pending order in the “Type”
field, which allows you to choose either Buy Limit, Sell Limit, Buy Stop or
Sell Stop. You need to specify the price at which the order will be
executed in the “At price” field. With one click on the arrows, the current
price will automatically appear in the filed and you can simply adjust it.
Along with the pending order settings, you can add Stop Loss and Take
Profit levels. Click “Place” to submit. A message confirming the order
execution will be displayed.

23
To enable an expiry date for your order make sure to tick the “Expiry” field
and then select date and time. The time is always set to your local PC
time.

4.5 HOW TO
CLOSE TRADES IN MT4
You can close your already open trades from the Order window.

24
5. TWO SCHOOLS
OF THOUGHT
5.1 FUNDAMENTAL
TRADING
When it comes to forex trading, there are two main approaches:
fundamental analysis and technical analysis. Fundamental analysis is a
method of predicting future price movements based on economic,
political, and social factors. Technical analysis is a method of analyzing
past price data to identify trends and predict future price movements.

Most forex traders use a combination of both fundamental and technical

analysis when making trading decisions. However, some traders prefer to
focus solely on one or the other. Fundamental traders look at factors
such as economic news releases, central bank policy changes, and
global events to try to predict where prices will go in the future. Technical
traders use price charts and technical indicators to identify patterns that
may indicate where prices are headed.

INTEREST RATES GDP

No matter which approach
you prefer, it's important to
have a solid understanding
of both fundamental and EMPLOYMENT RATE

technical analysis before

you start trading forex.

25
 5.2 TECHNICAL
TRADING
Technical trading is a strategy that relies on the analysis of technical
indicators to make trading decisions. Technical indicators are
mathematical calculations based on price, volume, or open interest data
that can be used to predict future price movements. Technical traders
believe that by analysing these indicators, they can identify patterns that
will give them an edge in the market.

There are many different technical indicators available, and each trader
has their own preferences. Some common technical indicators include
moving averages, support and resistance levels, momentum oscillators,
and trend lines. Technical traders will often use multiple indicators to
make sure they have a robust system before making any trades.

One of the advantages of technical trading is that it can

be done with a computer program. This means that
trades can be executed quickly and automatically, which
can be helpful in fast-moving markets.

26
6. TYPES OF
TRADERS
6.1 SWING
TRADING
A swing trader is one who looks to
take advantage of short-term
price changes, or “swings.” Swing
traders typically hold a position for
a few days to a few weeks, and
they aim to profit from the price
swings that occur within this time
frame.

Swing trading can be a very lucrative strategy – if done correctly.

Because swing traders are looking to profit from relatively small price
movements, they can often enter and exit trades at much better prices
than those who are trying to catch longer-term trends. This can lead to
some very impressive returns.

Of course, like all trading strategies, swing trading comes with its own
risks. Perhaps the biggest risk is that because positions are held for such
a short period of time, it can be difficult to accurately predict price
movements.

27
 6.2 SCALP
TRADING
In the world of forex trading, a scalper is a term used to describe a trader
who takes advantage of small price changes in the market. Scalpers are
one of the most active participants in the market, as they look to take
advantage of every opportunity that presents itself.

While some traders may take a more passive approach, waiting for
larger price movements before entering the market, scalpers are more
concerned with making numerous small profits throughout the day. This
strategy requires a lot of patience and discipline, as well as a keen eye for
spotting opportunities.

One of the biggest advantages of scalping is that it doesn’t require a

large investment to get started. In fact, many scalpers start with just a
few hundred dollars in their account. This allows them to capitalize on
even the smallest price movements in the market.

1MIN
TIME FRAME

BUY SELL

28
7. RISK MANAMENT
IN FOREX TRADING
When trading in forex, it is important to consider risk management. This
means being aware of the risks involved in trading and taking steps to
mitigate these risks. There are a number of risks to consider when trading
forex, including market risk, credit risk and liquidity risk.

Market risk Credit risk Liquidity risk

is the risk that the value of is the risk that a is the risk that a market
a currency will fluctuate counterparty will not be may not have enough
due to changes in the able to meet its liquidity to allow a
underlying economic obligations under a trade to be executed at
conditions. This type of contract. This type of risk the desired price.
risk is inherent in all types is often mitigated by using
of trading, but can be contracts with large banks
exacerbated by leverage. or financial institutions.

29
 7.1 HOW TO
MANAGE YOUR RISK
When trading forex, it is important to manage your risk. There are a few
ways to do this:

GOOD PLAN
1 STOP LOSSES
COMES FIRST
Your trading strategy is
2 ARE YOUR FRIENDS
the first line of defense Know the price
when it comes to you're willing to pay
building a solid risk and the price you're
management strategy. willing to sell out.

3 TURN OFF
THE NEWS
EMOTIONS
4
News release
times tend to bel
WILL BE
volatile so it might
-be best to avoid -. TROUBLE
them..
If you're tired.
sad, feeling a bit
off. don't fight it
Accept that it's
not your day.

5 THE ONE
PERCENT
Never put more SPREAD YOUR EGGS
than 1% of your
total capital into a
6 Never put all your
single trade. capital on one stock or
asset.

30
 7.2 STEPS TO
BECOMING A SUCCESSFUL TRADER
In order to be a successful forex trader, there are a few key steps that
must be followed. First and foremost, it is essential to have a clear
understanding of what forex trading is and how it works. Once this basic
foundation has been established, it is then time to begin developing a
trading strategy. This strategy should be based on sound analysis and
should be tailored to the individual trader's goals and risk tolerance.

THE STRATEGY RULE

1 Define Your Entry Trigger
7.2.1 HOW TO
CREATE YOUR
Define Your Exit Triggers
TRADING PLAN
Define A Daily Target
Define A Daily Loss Limit

THE MONEY MANAGEMENT

2 How much capital are you willing to risk?
How much are you willing to lose?
Determine Risk Reward Ratio
Think and plan for profits

THE PSYCHOLOGY
3 Keep track of your feelings throughout any
trading session
Don't hesitate to trade after a loss
Don't be overconfident after a winning strike
Be attentive to the market's signals

THE TOOLS
4 what indicators do you use?
What tools do you use for analysis?
What tools do you use for risk management?
What are the sources of information you use and why?
31
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Forex trading involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. 32
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No.2: Never forget rule No.1.

- Warren Buffett

HIGH RISK INVESTMENT WARNING Trading forex and CFD's on margin

carries a high level of risk and may not be suitable for all investors. The
high degree of leverage can work against you as well as for you. Before
deciding to trade forex and CFD's you should carefully consider your
investment objectives, level of experience, and risk appetite. The
possibility exists that you could sustain a loss of some or all your initial
investment and therefore you should not invest money that you
cannot afford to lose. You should be aware of all the risks associated
with forex and CFD trading and seek advice from an independent
financial advisor if you have any doubts.
Forex trading involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. 33