Nowadays, on every website of every forex broker, sections of forex trading tutorial are always present. They can allow future traders (and customers) to learn how to properly use the trading platform, aware that this is one of the most important steps when starting to do online forex trading.
Very often these forex trading tutorials have a rather limited durations and they allow traders very quickly at least to know the market on which he is going to trade.
The online forex tutorial can offer potential traders several interesting topics.
A lesson is usually devoted to the explanation of the fundamentals of forex, then the characteristics of the currency market, trading hours, the meaning of the leverage, etc…
A second lesson of the forex trading tutorial aims instead to allow the investor to reach a certain mastery with the exchange rates, and then figure out in which direction he can get a profit or lose his money, usually with concrete examples based on the main exchange rates as EurUsd or UsdJpy.
Through the explanation of the method of calculating the profit (or loss ) for each pip it is possible to show with an example the various scenarios that the trader can face when he will have to operate on the real market.
Another chapter of the forex trading tutorial is usually devoted to the explanation of how the various exchange rates work, illustrating the differences between the base currency and secondary currency, in this case with practical examples that show on which currency to go long or short, when the trader has to make a certain operation.
A fundamental aspect of these online classes is then addressed to real trading, then how to buy and sell a particular currency pair. This section explains the meaning of bid and ask and how to use the pips during a trading session. Very often in this section we can also find explanations of the various available options to improve our money management, and how to use the stop loss, trailing stop, etc…
After this preliminary stage of forex trading tutorial, the trader is usually directed to a section dedicated to the free demo of the online platform of the broker. After a successful registration, the trader will get a virtual account that does not use real money (always a good idea before starting trading with real money) that opens the door to a new section of a more advanced and detailed forex trading tutorial.
The spotlight in this case is on the technical features of the platform and will aim to help traders understand the ease of use and management of the software offered by the broker in order to start trading on forex.
In this case the theory is preliminary to the practice and the widespread use of a demo account for the free offered temporal duration is fundamental. Only by doing repeated operations the trader will be able to understand the pros and cons of a certain trading platform, and he will only be able to consider the period of forex trading tutorial as closed when he will get a high degree of security in handling the platform.