TraderSphere Forex Course
Learn to trade Forex Currencies, Cryptocurrencies, and Indices.
TraderSphere is the place for education and elevation for beginning traders and experienced traders still looking to find their edge and master the markets. We are a community that values transparency and is inclusive to the journey of all traders.
What is Forex?
Forex trading, also known as foreign exchange trading, is the buying and selling of different currencies on the foreign exchange market. The goal of forex trading is to profit from changes in the exchange rate between different currencies. Traders buy a currency at a lower exchange rate and then sell it at a higher exchange rate to make a profit. Forex trading is typically done through a broker or a market maker, and can be done on a variety of platforms, such as online or through a broker.
When can you trade in this market?
The forex market is open 24 hours per day and 5 days a week. The market only closes on the weekend, and stays open even during national holidays.
What is a Pip?
A pip is a unit of measurement to express the change in value between two currencies. (Point in Percentage).
What is a lot or lot size?
There are many different types of lots or “position sizes”. For example: on AUDUSD as a base currency
A micro lot is equivalent to $0.10 and placed as a 0.01 trade.
A mini lot is equivalent to $1 and placed as a 0.10 trade.
A standard lot is equivalent to $10 and placed as a 1.00 trade.
Lot sizes vary with different brokers
How are Forex pairs different than Stocks?
Asset class: Forex market trades currency pairs, while the stock market trades stocks or equities of publicly traded companies.
Market size: Forex is the largest financial market in the world, with a daily trading volume of over $6 trillion, while the stock market is much smaller, with a daily trading volume that varies depending on the stock exchange.
Trading hours: The Forex market operates 24 hours a day, five days a week, while stock markets have defined trading hours, usually from 6:30 AM to 1 PM PST.
Market participants: In the Forex market, the main participants are central banks, commercial banks, and retail traders, while in the stock market, the main participants are institutional investors, individual investors, and investment banks.
What You’ll Learn In TraderSphere Forex Course
PHASE 1
Phase 1 of this course provides the foundation that is needed to create a great base in trading. In Phase 1 we approach the market with a growth mindset. We at TraderSphere will provide our students with the basis of trading when it comes to types of analysis, how to apply lot sizes and pips, trading sessions along with the pairs that are traded most during those sessions, and more foundational elements that come into understanding the market and getting started.
PHASE 2
In Phase 2 the student will be provided with an in depth understanding of charting and viewing a currency pair. Instead of providing you with indicators, I will show you that market structure is the top priority when analyzing a potential setup. In this phase traders will also be taught how to follow market structure and more forms of technical analysis along with when to use certain tools in the correct situations.
PHASE 3
Phase 3 is when we show our students how to put the full strategy and outlook of the market into action through the ChartNChill Series of confluence videos. This is when we fully flow through charts and review the importance of patience. To do this, we provide a series of confluence videos, examples of maintaining a live trade, and trade breakdowns on some trades sent within the Discord community.
PHASE 4
Phase 4 of the TraderSphere Forex Course will provide traders with the essential importance of risk management to survive the longevity of trading. We will also review the importance of logging your past trades and sticking to a trading plan when looking to enter future trades. Lastly, we will review the key element of psychology in trading and the importance of controlling emotions while trading in the forex market.
