Free course ยท 18 lessons
Forex Trading for Beginners
A free 18-lesson course that takes you from "what is forex?" to placing your first practice trade, with clear examples, key takeaways and short quizzes.
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Create a free account to track your progress and take the quizzes.
This course assumes no prior knowledge. Each lesson takes 5-10 minutes and ends with key takeaways and an optional quiz.
Work through the lessons in order. By the end you will understand how forex prices work, what trading really costs, how to protect your account with stop losses and position sizing, and how to practise safely on a demo account.
Lessons
- 1 Module 1 Introduction to Forex What the foreign exchange market is, who trades in it, and what retail forex trading actually involves. 2 min
- 2 Module 2 Currency Pairs Why currencies are always quoted in pairs, how to read a quote, and the difference between majors, minors and exotics. 2 min
- 3 Module 3 Base and Quote Currency How the base and quote currencies decide what you are buying, how big your position is and which currency your profit is calculated in. 1 min
- 4 Module 4 Pips How price movements are measured in pips, how to count them and how to work out what one pip is worth. 1 min
- 5 Module 5 Lots Standard, mini and micro lots explained, and why lot size is the most important number on your order ticket. 2 min
- 6 Module 6 Spreads Bid, ask and spread: what you pay every time you trade, and when spreads become expensive. 2 min
- 7 Module 7 Leverage How leverage lets a small deposit control a large position, why it magnifies losses as well as gains, and how to keep it under control. 2 min
- 8 Module 8 Margin Used margin, free margin, margin level, margin calls and stop outs: the numbers that decide whether your trades stay open. 2 min
- 9 Module 9 Market Orders How to buy or sell at the current price, what can go wrong, and how to read the order ticket. 1 min
- 10 Module 10 Pending Orders Buy limit, sell limit, buy stop and sell stop: how to enter trades automatically at prices you choose in advance. 1 min
- 11 Module 11 Stop Loss How a stop loss limits your downside, where to place it, and why it should decide your position size. 2 min
- 12 Module 12 Take Profit Setting profit targets, understanding risk-reward, and why win rate and reward size must be considered together. 1 min
- 13 Module 13 Risk Management The rules that keep you in the game: risk per trade, position sizing, daily loss limits and why drawdowns are so hard to recover from. 2 min
- 14 Module 14 Trading Psychology Fear, greed, revenge trading and overconfidence: the emotional traps that cost traders money, and practical habits to avoid them. 2 min
- 15 Module 15 Choosing a Broker What to check before trusting a broker with your money: regulation, the entity you sign up with, costs, deposits and withdrawals from Tanzania. 2 min
- 16 Module 16 Opening a Demo Account How to open a free practice account, set it up realistically and use it to build skills before risking real money. 2 min
- 17 Module 17 Creating a Trading Plan A simple template for writing your own trading plan: what you trade, when, how you enter and exit, and how much you risk. 2 min
- 18 Module 18 Common Beginner Mistakes The ten mistakes that cost new forex traders the most money, and how to avoid every one of them. 2 min