Forex Trading Tutorial is a method of transferring forex knowledge and may be used a part of a learning process in Forex trading. Forex trading tutorials are more interactive and specific than forex books. Tutorials on forex trading seek to teach new traders by showing examples and provide the information to complete a certain exercise. The purpose of this article is to provide forex trading tutorial for beginners in South Africa and provide examples on how to trade Forex tutorial.
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Forex Trading Tutorial for beginners in South Africa
Our Forex Tutorial for Beginners basics guide is filled with useful information and we provide forex trading tutorial videos. As a beginner, you may ask yourself what is traded in forex market. The answer is you trade currencies of different countries. All forex market participants buy or sell one currency in exchange for another with aim to make profit. Each trade is performed by various financial markets such as metals or currencies.
What is Forex Trading?
Forex trading refers to the exchange of currencies on the financial markets with aim to generate profit, over a short period of time. This is different from investing. In investing, investors can hold their trades for more than a year.
Forex trading allows individual retail traders to speculate in the Forex market, also called currencies market. To be able to do so, you need to open an account with a forex broker. Then you will be able to sell and buy currencies and that’s how you make money from Forex trading.
We’ve also compiled a guide on what is Forex trading and how does it work, you can visit it here.
When Can You Trade?
The Forex Market is open for trading 24-hours, 5 days a week. The market is accessible any time because it operates in multiple time zones. On weekends the market closes for retail trading.
Forex Hours: The Forex market first opens on Sunday 5 PM Eastern Time (EST), and running continuously until Friday 5 PM EST (. The Forex day starts with the opening of Sydney’s (Australia) Forex market at 5:00 PM EST (10:00 PM GMT / 22:00), and ends with the closing of New York’s market, a day after, at 5:00 PM EST (10:00 PM GMT / 22:00), immediately reopening in Sydney restart trading.
The main Forex markets, in the order of their opening times, are: Sydney, Tokyo, Frankfurt, London and New York.
The market hours for the major Forex markets are as follows:
- London Session – 3 AM through 12 noon Eastern time
- New York Session – 8 AM through 5 PM Eastern time
- Sydney Session – 5 PM through 2 AM Eastern time
- Tokyo Session – 7 PM through 4 AM Eastern time
Forex hours in South Africa
South African Forex Market trading times is between 9 AM and 5 PM.
To learn more about Forex Trading Tutorials, we’ve compiled the below guides to help you know more about Forex.
- What Is Forex Trading
- Forex Trading For Beginners
- How to Start Forex
- How to Trade Forex
- Forex Trading Books for Beginners
- Forex Brokers in South Africa
We hope the above tutorials on Forex trading was very useful. Before we close the topic, we also have Forex tutorial video below and you can watch it on your laptop, mobile device or desktop for free.