Lessons

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Lesson 1

  1. What is Forex?

    Think the stock market is huge? Think again. Learn about the LARGEST financial market in the world and how to trade in it.
    1. What Is Traded In Forex?
      Currencies are the name of the game. Yes, you can buy and sell currencies against each other as a short-term trade, long-term investment, or something in-between.
    2. Buying And Selling Currency Pairs
      The first thing that you need to know about forex trading is that currencies are traded in pairs; you can’t buy or sell a currency without another.
    3. Forex Market Size And Liquidity
      The Forex market is yuuuuuuuggggeeee! And that comes with a lot of benefits for currency traders!
    4. The Different Ways To Trade Forex
      Some of the more popular ways that traders participate in the forex market is through the spot market, futures, options, and exchange-traded funds.

  2. Why Trade Forex?

    Want to know some reasons why traders love the forex market? Read on to find out what makes it so attractive!
    1. Why Trade Forex: Advantages Of Forex Trading
      Low transaction costs and high liquidity are just a couple of the advantages of the forex market.
    2. Why Trade Forex: Forex vs. Stocks
      Nobody likes bullies! Good thing for us, unlike the stock market, there is no one financial institute large enough to corner the forex market!
    3. Why Trade Forex: Forex vs. Futures
      The futures market trades a puny $30 billion per day. Thirty billion? Peanuts compared to the FIVE TRILLION that is traded daily in the forex market!

  3. Who Trades Forex?

    From money exchangers, to banks, to hedge fund managers, to local Joes like your Uncle Pete - everybody participates in the forex market!
    1. Forex Market Structure
      Because there is no centralized market, tight competition between banks normally leads to having the best prices! Boo yeah!
    2. Forex Market Players
      The forex market is basically comprised of four different groups.
    3. Know Your Forex History!
      If it wasn’t for the Bretton Woods System (and the great Al Gore), there would be no retail forex trading! Time to brush up on your history!

  4. When Can You Trade Forex?

    Now that you know who participates in the forex market, it's time to learn when you can trade!
    1. Forex Trading Sessions
      Just because the forex market is open 24 hours a day doesn’t mean it’s always active! See how the forex market is broken up into four major trading sessions and which ones provides the most opportunities.
    2. When Can You Trade Forex: Tokyo Session
      Godzilla, Nintendo, and sushi! What’s not to like about Tokyo?!? The Tokyo session is sometimes referred to as the Asian session, which is also the session where we start fresh every day!
    3. When Can You Trade Forex: London Session
      Not only is London the home of Big Ben, David Beckham, and the Queen, but it’s also considered the forex capital of the world–raking in about 30% of all forex transactions every day!
    4. When Can You Trade Forex: New York Session
      New York baby! The concrete jungle where forex dreams are made of! Just like Asia and Europe, the U.S. is considered one of the top financial centers in the world, so it definitely sees its fair share of action–and then some!
    5. Best Times of Day to Trade Forex
      Trading is all about volatility and liquidity. Which times of day provide the most dynamic market action and volumes?
    6. Best Days of the Week to Trade Forex
      Each trader should know when to trade and when NOT to trade. Read on to find out the best and worst times to trade.

  5. How Do You Trade Forex?

    Now, it's time to learn HOW to rake in the moolah!
    1. How to Make Money Trading Forex
      Just like any other market: buy low and sell high…and vice versa. Simple, right!?
    2. Know When to Buy or Sell a Currency Pair
      Let’s start with the very basics. First, what drives the value of a currency?
    3. What is a Pip in Forex?
      You’ve probably heard of the terms “pips,” “pipettes,” and “lots” thrown around, and here we’re going to explain what they are and show you how their values are calculated.
    4. What is a Lot in Forex?
      How many units of currency can we trade? What size positions can we trade and what are they called?
    5. Impress Your Date with Forex Lingo
      Wanna impress your crush? Here are some forex terms to help you wow that special someone!
    6. Types of Forex Orders
      “Would you like pips with that?” Okay, not that type of order, but buying and selling currencies can be just as simple with a little practice.
    7. Demo Trade Your Way to Success
      Currency market behavior is constantly evolving. Trade on demo first to get a lot of the rookie mistakes out of the way before risking live capital. There are no take-backs in the real market.
    8. Forex Trading is NOT a Get-Rich-Quick Scheme
      While possible if you’re a trading genius with ice in your veins and you’re luckier than a lottery winner, building wealth through trading takes time and practice to build the skills and experience needed to be successful.
    9. Lesson 2.               

      1. Brokers 101

        The first step in the real world of forex is opening an account with a broker. But be warned! Brokers love to hunt for noobs.
        1. History of Retail Forex Trading
          Learn the roots and history of the forex market to help give you an understanding of how to tame this beast.
        2. Forex Broker Types: Dealing Desk and No Dealing Desk
          There are two types of services when doing business in the retail forex market: Dealing Desk and No Dealing Desk. What’s the difference?
        3. Dealing Desk vs. No Dealing Desk Forex Brokers
          One type of broker isn’t necessarily better than the other because each trader is different. This lesson will help you decide which factors are most important to you.
        4. 6 Crucial Things to Consider When Choosing a Forex Broker
          Choosing which broker to trade with can be a very overwhelming task especially if you don’t know what you should be looking for. In this section, we will discuss the qualities you should look for when picking a broker.
        5. Beware of Forex Bucket Shops
          Unfortunately, there are those out there who don’t play fair or by the rules. We here at BabyPips.com will help you avoid entrusting your hard-earned cash to these nasty bucketeers.
        6. How to Protect Yourself Against Forex Broker Scams
          While you may feel like a dwarf among big bad brokers, it doesn’t mean that you have to take their abuse! Here are some ways to fight back against unfair practices!
        7. How to Open a Forex Trading Account
          Now that you’ve done you’re due diligence like we’re sure you have, it’s time to to pull that trigger and open an account.

      2. Three Types of Analysis

        What's it gonna be? The red pill, the green pill, or the blue pill?
        1. 3 Types of Forex Market Analysis
          There are three basic types of market analysis: technical, fundamental, and market sentiment. Which suits you?
        2. Technical Analysis
          Technical analysis is the framework in which traders study price movement.
        3. Fundamental Analysis
          If you like analyzing social, economic, and political factors that affect currency supply and demand, then fundamental analysis is for you!
        4. Sentiment Analysis
          Sometimes it’s not always about the numbers, but how market players feel…how do you figure out and trade forex off of that?
        5. Which Type of Analysis for Forex Trading is Best?
          In order to become a true forex master you will need to know how to effectively use these three types of analysis.

      3. Types of Charts

        What's your type? (By that we mean charts.)
        1. 3 Types of Forex Charts and How to Read Them
          Sometimes, it’s all about perspective when understanding a market. Different types of charts can influence how you analyze an asset like currencies.
        2. Lesson 3 

          1. Grade 1Support and Resistance Levels

            To start your education on technical analysis, let's begin with the basics: support and resistance!
            1. Forex Support and Resistance
              Let’s start with the most basic concept of price action analysis and how to start plotting them.
            2. Trend Lines
              The most basic–but powerful–charting tool in the tool box.
            3. Channels
              Now that you understand trendlines, lets take it a step further into channels to see opportunities in trends.
            4. How to Trade Support and Resistance
              Time to learn how to trade the lines using two simple ideas: the Bounce and the Break!
            5. Summary: Trading Support and Resistance
              A quick recap on support and resistance zones, and how to spot potential trading opportunities with them.

          2. Grade 2Japanese Candlesticks

            Thank you, Mr. Steve Nison, for "discovering" the art of candlesticks!
            1. What is a Japanese Candlestick?
              Japanese candlesticks in forex trading are used to describe currency price action and can be used for any time frame.
            2. Japanese Candlestick Anatomy
              Just like humans, candlesticks have different body sizes. As forex traders, it’s important to take note of what type of body a candlestick takes!
            3. Basic Japanese Candlestick Patterns
              What do spinning tops, marubozus, and dojis have in common? They’re all the basic types of candlesticks!
            4. Single Candlestick Patterns
              What the heck is the difference between a hammer and a hanging man? Time to start learning about your basic candlestick patterns!
            5. Dual Candlestick Patterns
              They say that trouble comes in twos. Read on to find out how dual candlestick patterns may not necessarily spell double trouble for your account.
            6. Triple Candlestick Patterns
              In the forex market, three’s not always a crowd. Not when you’re talking about morning stars, black crows, and three inside up patterns, that is.
            7. Japanese Candlestick Cheat Sheet
              Think you’re ready to spot basic candlestick patterns with blindfolds on? If not, don’t worry! Here’s a candlestick pattern cheat sheet just for you.
            8. Candlesticks with Support and Resistance
              Learn how to trade candlesticks with support and resistance levels.
            9. Summary: Japanese Candlesticks
              Here’s a rundown of what you need to remember about Japanese candlestick patterns.

          3. Grade 3Fibonacci

            Now that you know about the basic Japanese candlestick patterns, why not take it to the next level and learn about the Fibonacci retracement tool?
            1. Fibonacci Trading
              No, Fibonacci is not some type of pasta. Learn all about the man behind the concept and what it actually means.
            2. How to Use Fibonacci Retracement to Enter a Trade
              The first thing you should know about the Fibonacci retracement tool is that it works best when the market is trending.
            3. Fibonacci Retracements are NOT Foolproof
              What happens when Fibonacci fails? Could it be because of your swing highs and lows, or are markets just not responding to it?
            4. How to Use Fibonacci Retracement with Support and Resistance
              In this lesson, we’ll show you how to combine the Fibonacci tool with support and resistance levels.
            5. How to Use Fibonacci Retracement with Trend Lines
              What’s another way to tilt Fibonacci levels in your favor? Combining it with trend lines, of course!
            6. How to Use Fibonacci Retracement with Japanese Candlesticks
              Check out how combining candlestick patterns with Fibonacci levels can improve your trading odds.
            7. How to Use Fibonacci Extensions to Know When to Take Profit
              Fibonacci levels aren’t only used to spot entry areas – they’re also good places to take profit!
            8. How to Use Fibonacci to Place Your Stop so You Lose Less Money
              If you can take profit at Fib levels, then you can definitely place stop losses there too!
            9. Summary: Fibonacci Trading
              Here’s a review of what exactly the Fib levels are, as well as their use in trading.

              1. Grade 4Moving Averages

                Thinking of trading in a trending environment? Try using moving averages!
                1. What Are Moving Averages?
                  A moving average is simply a way to smooth out price action over time. Here’s what it looks like.
                2. Simple Moving Average (SMA) Explained
                  These are calculated by adding up the last “X” period’s closing prices and then dividing it by X. Confused? Don’t worry, we’ll make it crystal clear.
                3. Exponential Moving Average (EMA) Explained
                  Think an SMA is too easy breezy for you? Try your hand at using EMAs!
                4. Simple vs. Exponential Moving Averages
                  How does an SMA differ from an EMA? It’s pretty simple, actually.
                5. How to Use Moving Averages to Find the Trend
                  One sweet way to use moving averages is to determine trends. And that’s just the beginning!
                6. How to Use Moving Average Crossovers to Enter Trades
                  If MA lines cross over one another, it may signal that the trend is about to change soon.
                7. How to Use Moving Averages as Dynamic Support and Resistance Levels
                  Another way to use moving averages is to use them as non-traditional support and resistance levels. Here’s how:
                8. Summary: Using Moving Averages
                  You may forget your name, but you should never forget the basics of moving averages!

              2. Grade 5Popular Chart Indicators

                Trading is like building a house--you gotta have the right tool for the job at hand. So let's put more tools in our tool box!
                1. How to Use Bollinger Bands
                  What better way to start building up your trading toolbox than by reading up on Bollinger Bands!
                2. How to Use the MACD Indicator
                  The MACD is used to identify moving averages that indicate a new trend. With a MACD, it’s all about three numbers.
                3. How to Use Parabolic SAR
                  In trading trending markets, it is equally important to identify when the trend ends. The parabolic SAR might be just what you need!
                4. How to Use the Stochastic Indicator
                  What makes Stochastic one of the most favorite tools of many BabyPips.com forex trade bloggers?
                5. How to Use RSI (Relative Strength Index)
                  If you find that Stochastic isn’t your cup of tea, then you might want to take a look at the good ol’ RSI.
                6. How to Use ADX (Average Directional Index)
                  ADX is typically used to identify whether the market is ranging or starting a new trend. Here’s how traders usually read ADX signals:
                7. Ichimoku Kinko Hyo
                  No, “Ichimoku Kinko Hyo” ain’t Japanese for “May the pips be with you,” but it can help you grab those pips nonetheless.
                8. Trading with Multiple Chart Indicators
                  Now that you know how some of the most common chart indicators work, you’re ready to get down and dirty with some examples.
                9. What is the Best Technical Indicator in Forex?
                  Now on to the good stuff: Just how profitable is each indicator on its own?
                10. Summary: Popular Chart Indicators
                  Here’s a recap of the latest trading tools that you’ve learned that will make your momma proud! 
                11. Lesson 4

                  1. Grade 6Oscillators and Momentum Indicators

                    There are two types of charts indicators: leading and lagging. Which one suits you better?
                    1. Leading vs. Lagging Indicators
                      Leading indicators give signals BEFORE a new trend or reversal occurs, while lagging indicators give signals AFTER a trend or reversal. But that’s not all!
                    2. How to Use Oscillators to Warn You of the End of a Trend
                      How do you spot a trend? Maybe lagging indicators can help you out!
                    3. How to Use Momentum Indicators to Confirm a Trend
                      Is the trend you’re in ready to push forward or sputter out?
                    4. Summary: Leading and Lagging Indicators
                      Now that you know the pros and cons of both the leading and lagging indicators, which one do you think works better for you?

                  2. Grade 7Important Chart Patterns

                    Price action can make cool pictures on your chart...and they actually give a clue to market behavior too!
                    1. Chart Patterns Schmatterns
                      Chart patterns are like that funny feeling you get in your tummy right before you let a fart explode. Here’s why!
                    2. How to Trade Double Tops and Double Bottoms
                      Hey look, doubles isn’t just a tennis term! Read all about double tops and double bottoms!
                    3. How to Trade the Head and Shoulders Pattern
                      A head and shoulders pattern is also a trend reversal formation. And you thought it was something to make your hair silky smooth and flake-free!
                    4. How to Trade Wedge Chart Patterns
                      If you’re thinking shoes or cheese, then you’ve got another thing coming! Wedges are in your charts too!
                    5. How to Use Rectangle Chart Patterns to Trade Breakouts
                      Now aren’t you glad you paid attention to your shapes when you were just a tot? Who would’ve guessed rectangles are used in trading too?
                    6. How to Trade Bearish and Bullish Pennants
                      Similar to rectangles, pennants are continuation patterns formed after strong moves.
                    7. How to Trade Triangle Chart Patterns
                      Can’t get enough of basic shapes? Feast your eyes on these triangle chart patterns!
                    8. Know the 3 Main Groups of Chart Patterns
                      You might know what the chart patterns are, but do you know when to use them?
                    9. Forex Chart Patterns Cheat Sheet
                      If you’re having trouble remembering your new chart patterns, then here’s a cheat sheet just for you!

                  3. Grade 8Pivot Points

                    After you're done with this section, Peter Parker won't be the first thing that will come to your mind when you read the abbreviation "PP."
                    1. Forex Pivot Points
                      Pivot points can be used in identifying reversal or breakout areas. Read on to find out how to use these support and resistance levels.
                    2. How to Calculate Pivot Points
                      Wanna use pivot points in your trading but don’t know how to calculate them? Let us show you how!
                    3. How to use Pivot Points for Range Trading
                      Check out these examples on how to use pivot points in range trading. Even better, we’ll show you how to combine candlestick analysis with pivot points!
                    4. How to use Pivot Points to Trade Breakouts
                      As with all support and resistance levels, pivot point levels won’t hold forever. Learn how to make pips when pivot points fail!
                    5. How to Use Pivot Points to Measure Market Sentiment
                      Did you know that pivot points can also help you determine whether traders are more inclined to buy or sell a currency pair?
                    6. Know the 3 Other Types of Pivot Points
                      Most trading platforms can draw’em for ya, but you should also know how to crunch those numbers yourself in case of nuclear war…huh?
                13. Summary: Pivot Points
                  Here are some easy-to-memorize tips to help you make the most out of pivot points!



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