Using ForexOnline to Learn FX Markets

ForexOnline (forexonline.com) is the site of the online forex brokerage Global Forex. To learn forex markets and trading, the site offers free simulated trading environment plus an intensive 7 lesson course on FX market basics (for a fee).

The site offers an interactive learning environment, as the trial account also features free real-time charts. The charts can be used to conduct technical analysis research, making the free demo account even more valuable learning experience.

In addition, you can access forex news service with a demo account, which is extra beneficial if you have a trading strategy that uses fundamental analysis. The news service is not a delayed or abridged version of Thomson Financials IFR Forex Watch, but the complete product suite.

ForexOnline – Free Demo Account

The demo trading account at ForexOnline is two tiered: you can choose a mini forex demo account, or one with simulated access to a full sized account.

If you have an intention to start trading with less equity in the beginning, opt for the OnlineForex mini demo account. You can always try later the full sized account, which should give you a longer term perspective on your trading gains or losses.

Once you start the simulated trading, keep detailed records on such things as slippage, percentage of winning/losing trades, equity drawdowns, profitability of the system. In fact, you should keep detailed records and analyze all aspects of your trading system, before you enter live trading with any brokerage.

ForexOnline – FX Powercourse

The ForexOnline powercourse gives you a 22 lesson approach to knowing more about the markets and trading in it.

A short descriptions of some of the first lessons are as follows:

• Lesson 1 : The difference between being right and making money
• Lesson 2 : Avoiding information overload
• Lesson 3 : Each currency has a personality
• Lesson 4 : An ounce of protection is worth a pound of cure
• Lesson 5 : Support and resistance: the basics of trading
• Lesson 6 : Smart trading
• Lesson 7 : Pulling it all together

The aim of the course, according to ForexOnline, is to give you the basics of the markets, plus personal coaching from the staff tutors, available 24 hrs a day for consultation.

All the tutors have taken the same course and can answer question you might have about the material. Your needs as a trader are covered in various ways, including

• Basic education – how the financial markets function
• FX market basics – the specific nuances of the foreign exchange market
• Fundamental analysis – how to use international economics for trading
• Technical analysis – using charts and quantitative analysis for trading
• Money management – how to measure and control risk in trading

Because of the attempt by ForexOnline to capture many elements of FX markets and trading and because of the personal tutors, the course is not cheap.


Risk Disclosure and Terms of Use


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