Forex Basics - Lesson 3: How do you Make Money Trading Forex


Previous... Forex Basics - Lesson 2: Why Trade Forex


Traders gain access to the Forex market by using a Forex broker.


A Forex broker offers Forex pairs to buy and sell and also offers trading features and tools that can help you make better trading decisions.


How do you know when to Buy and when to Sell?


Being able to speculate future Forex price is one of the keys to being able to trade Forex profitably. 


It is not as daunting as it may seem at first, as there are a number of trading tools and aids that help traders with their Forex price predictions...


Technical Analysis - this is one of the most common ways that Forex traders analyse and predict the Forex market. It is widely used amongst Forex traders, as well as stock and commodity traders.


Technical analysis involves studying historical price data, which is usually displayed on a price chart. Traders use this price charts to analyse current price direction and areas of potential reversals and identify patterns formed by price.  


Fundamental Analysis - this involves studying and predicting economic reports, events and news that heavily influence the value of a currency. This includes studying employment and unemployment data, interest rates and inflation targets. 


The next 2 Forex courses on this site will help you understand both Price Action Analysis and Technical Indicators, which form technical analysis. Please don't feel overwhelmed, learning technical analysis is not as difficult as it sounds and you have us to help you for free!

Using a Forex Broker


You can only access the Forex market by using a Forex broker - a broker acts as a bridge between traders and the market. 

There are many things to consider when opening an account with a broker, this often includes...

- Reliability

- Regulation

- Reputation

- Broker costs, such as commission and spreads

Below are 2 brokers that are well-balanced and meet the criteria most Forex traders look for in a broker...

IC Markets.png
Darwinex logo.jpg

IC Markets - have a great reputation and offer free demo accounts for new traders. They are based in Australia but accept clients worldwide. 
If you are looking for a great learning and trading experience, with little to no cost, this is the broker for you!
Click here to open a free practice account with IC Markets. 

Darwinex - are well-regulated and are based in the UK. They accept clients worldwide.
Click here to open a free practice account with Darwinex. 

Watch this lesson in video...

There is a very high degree of risk involved in trading.Past results are not indicative of future returns. Technical Forex and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice.Information for forex trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Technical Forex may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading Forex, Options on Forex, and any retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Technical Forex is not an investment advisory service, is not an investment adviser, and does not provide personalized financial advice or act as a financial advisor. Technical Forex exists for educational purposes only, and the materials and information continued herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments. You hereby understand and agree that Technical Forex does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein.

Technical Forex is dedicated to providing high quality content on Forex technical analysis -