Currency Trading Techniques

Currency trading techniques answer questions such as “how to place an order”, “how to place stops”, and “how to minimize slippage”.

Once you have a full trading plan, a trading strategy in place, learning FX trading techniques will make you more ready to actually trade the plan.

There are many trading techniques that will improve your trading performance, especially if you trade with a bigger account size.

Traditionally trading techniques were learned through trial and error. This was a very costly way. Nowadays, you can learn currency trading techniques from many sources, including forex books, courses, and forex mentoring.

Learning Currency Trading Techniques

Among the first places to look for education on currency trading techniques are brokerages. These companies will want you to be confident in using their trading platform, and thus will give you a full education, for a fee or for free, on using trading techniques, such as stops and limit orders.

Other places to look for online or classroom education on currency trading strategies are forex education institutions (such as TraderHouse) and market information providers (such as Reuters).

Most of the courses offered will integrate the currency trading technique education as part of teaching a complete trading system.

The education should show you the most advantageous situations for using, for example, market orders. In very volatile situations a market order might get your order filled for a very different price that you intended it to be filled.

Another example is placing stops. There are some very popular price points for stops, such as around round numbers that traders use. How and when to use similar entry techniques should be part of the education.

Currency Trading Techniques – Education Providers

If you’d like to learn currency market trading techniques, there are several providers for education available. Before you choose an independent education provider, look up the availability of education from your brokerage. You might get the same information for free.

Below is a sample of firms offering education for beginner and advanced traders willing to learn trading techniques. Some of the courses integrate technique learning into a bigger overall package.

  • Euromoney Training Group
  • FinEdge
  • FX Strategy
  • Gain Capital Training
  • TraderHouse

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