Last Updated 1st February 2018: If you’ve ever wanted to get started in any kind of investing, whether this be stock trading, binary or foreign exchange, you know that knowing the basics goes a long way! We already have a post on forex trading basics, but we decided to write a detailed ebook outlining exactly how you can get started trading forex in as little as 30 days. This PDF (ebook) is very beginner friendly as with everything on the Elite Forex Trading site. If you have any questions feel free to contact us. You can download the ebook here.
This ebook has been read by almost 1,500 individuals all of whom are now part of the Elite Forex Trading Team. We are a community of traders but to be successful we need to be on the same level. Get reading this ebook and become a member of the community.
Below is an outline of what the Ebook will cover:
Table of Contents
Introduction to the Stock Markets & Currencies
The first couple of small chapters talk about what the stock markets are and how they work. It’s Stocks 101 if you like. Although many people probably already know what these are and how the stock markets work I still recommend you read this section as it will only take you a couple of minutes and get you all on the same page too.
The second and third chapters continue to outline the trading markets in general, looking at the market outlook and the trends you should look out for. Also in this section we look at the key decisions to make in the beginning of your stock trading career.
Introducing Forex (Foreign Exchange)
Chapters 3-4 introduce you to forex trading. Again you probably already know the information but we relay it in an easy to understand way. It takes less than 5 minutes to read and you might pick up some information you have previously overlooked. If you want to learn forex in 30 days you have to know the basics inside out. You do not have a chance if you don’t!
These chapters also talk about forex functionality, the forex markets nowadays, understanding currency conversions and how they work, PIPs, expressions, currency pairs, trending and some more basic stats and information you should know.
Stats, Volatility and Market Expectations
Pretty much everything you need to know before you decide to make your first trade. 90% of forex traders rush into making trades and as a result lose a lot of money (a lot!) Instead we recommend understanding everything from the ground up, what can go wrong, what the market usually does and how violent the movements can be between 2 currency pairs. This is a must read before making your first forex trade.
All the information you need to know that goes into a forex trade itself. Such as the market makers, selling short and many more. We also included a chapter on risk management. Forex trading although extremely volatile, is not gambling, you should ensure you won’t lose too much by setting up stop-loses and tracking trades closely. All these details are covered in chapter 8.
Buzz Words & What they mean
Sometimes different forex platforms use a number of different buzz words, all of which might mean the same thing, but tend to confuse the average beginner. There are also literally thousands of acronyms in the forex trading scene, this section is designed to get you up to date with the most important ones, any that you don’t know simply Google and you should get a good enough definition from Investopedia. This section also talks about margins, spreads and other variables between different options.
Chapter 11: Other Trading Options
Some final information about the other trading techniques and strategies you have. In this section we outlined the advantages and disadvantages to the different forms of trading, for example long term vs day trading as well as what we recommend for beginners, which is a very slow and gradual process until you feel confident enough in your ability.
Chapter 12: Review & Your First Trade
A walk through guide of your first trade as well as reviewing all the information from the ebook itself. This is perfect to help you make your first successful forex trade, and more importantly make it profitable!
Conclusion and Additional Points
Our site is designed to help beginners, heck our slogan is Forex Trading for Beginners! Some aspects of our thought process didn’t fit into the other chapters of the ebook. As a result we decided to put these in the conclusion. For example, information on careers in the foreign exchange market, the options you have aren’t what you think. You don’t need to be a 1 man or woman army to become a successful forex trader. Make the right decisions and you can get noticed by the right people. If you prefer a more safe salary you can usually fit in an international bank once you’ve proved your worth.
The final points in the ebook talk about protecting your investment, once you have a lot of money in your brokerage account you will want peace of mind, this chapter helps you ensure this by a few tips and tactics, before rounding the ebook off with a final point about finding the right broker, which we’ve already been over here.
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