Forex Education Center/ Part 20 / FOREX FOR BEGINNERS COURSE / Less...

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Welcome to the Forex for Beginners course.
As a reminder the course is aimed for complete beginners.
I tried to keep the lessons short and to the point giving out clear examples and videos where required.

Lesson 1. Trading Currency Pairs:
In this lesson we explain which currencies are the most liquid, most volatile and the best currencies to trade for a beginner. We also explain why major and exotic currencies are.

In the Forex Market, the following are the 6 major pairs.

EUR/USD (Euro / US Dollar)
GBP/USD (Sterling / US Dollar)
USD/JPY (US Dollar / Japanese Yen)
USD/CHF (US Dollar / Swiss Frank)
USD/CAD (US Dollar / Canadian Dollar)
AUD/USD (Australian Dollar / US Dollar)

The majors have large volume of trading, more liquid and tighter spread.
There are also other currency pairs which are called the exotics like

EUR/GBP
GBP/JPY
NZD/USD

The exotics have low volume, less liquid and much higher spreads.
In a nutshell, a spread is the amount of commission the broker takes from you in every trade.
It is also the difference in price between the bid and the ask price.
The higher the spread, the more commission the brokers earns, and the more pips you need to earn! We will talk on spread later on.

TIP
If you are a beginner or just starting out, you should focus on the major pairs. EUR/USD is the best currency to start with!

Below you can find the list with all the posts of Forex Education Center:

Forex Education Center/ Part 20 / FOREX FOR BEGINNERS COURSE / Lesson 1. Trading Currency Pairs

Part 01 / Live Vs. Demo Trading Accounts

Part 02 / Slippage

Part 03 / ECN Market

Part 04 / What Makes a Successful Price ActionTrader

Part 05 / The Manual of the Forex Art of War

Part 06 / The Don’ts when you Compare Forex Brokers

Part 07 / What is behind Currency Pair Trading

Part 08 / Banks: Beacons of Fraud

Part 09 / Win With CFD’s

Part 10 / Fight and Win the Bulls and Bears

Part 11 / How to Spot a Forex Trading Fraud

Part 12 / Become a Master with News Trading

Part 13 / The Forex Risk Management State of Mind

Part 14 / Top 10 Forex Trading Tips for Beginners – The Road to Success

Part 15 / Trader’s Strategy Checklist

Part 16 / E Currency Trading

Part 17 / E CURRENCY TRADING MAP

Part 18 / FOREX TRADING TUTORIALS

Part 19 / FOREX TRADING COURSES