IM academy for Forex trading is an education platform where you can learn:
- what is Forex
- what is Forex trading
- how to trade on the Forex market
- which trading tools you need for trading
- which Forex basics you need to know
- Forex trading strategies
Start IM Academy Forex
When you join Forex mastery academy also called FRX academy, you will join many students who learn how to trade on the Forex market.
You will get a guide how to start trading where you will be guided step by step what is needed to start trading on the Forex market.
Here is a short list what is needed to start trading on the Forex market so you are familiar what you can expect when you join Forex IM mastery academy.
IM Academy Forex Trading Tools
At the start you need to get the trading tools which you will use in your learning journey. Without trading tools you cannot learn how to trade on the Forex market.
First what you need to get is:
- Trading Platform
- Trading account
Trading platform is usually Metatrader 4 which majority Forex traders use. You can download Metatrader 4 for PC for FREE from the official website.
When you download Metatrader 4 then you need a trading account. Trading account is access to all features trading platforms can offer you.
You can open FREE demo account on MT4 which you will use in your trading education.
When you have a trading platform and trading account you can move to the next step. And that step is getting familiar with the trading platform.
Metatrader 4 Trading Platform
When you open a trading platform and login into a free demo account you need to get familiar with the MT4 trading platform.
You need to know what a trading chart is, which you will see when you open a trading platform. Inside IM Forex Academy you will learn different types of chart analysis.
You will have several windows around the chart which you will use in your trading journey.
Above you will find quick toolbars which you use for quick access to trading tools like:
- horizontal and vertical lines
- menu for chart type selection
- option for new order so you can open new order
- automatic trading also called expert advisor
- drawing symbol tools
On the left side you have a window where you can see currency pairs for trading.
Below that you have a window where you can see all trading accounts you have currently. Some of them can be demo and some can be live accounts.
You have also here indicators and expert advisors you can use for trading if you choose to use them in your trading.
As a beginner you can skip them until you understand what is trading and how to use indicators in your advantage.
Below you have a window where you can see trading account balance. Account balance means how much money you have for trading.
If you open a new order you will see it here with more details, but those details you will see later on when you start with trading.
Open New Order
When you are ready you can open new order by pressing the button “New Order” in the quick toolbar menu.
When you do that you will have new window where you need to enter details about that order, and those are:
- at which price you want to open that order
- what is the exit price when the trade will close
- which order type you wan to open, sell or buy
When you enter all details and you decide to buy or sell currency pair you will have new row in the window below.
That row will have all details about that new order so you can track the progress of that order. Will it be profitable or it will be not profitable.
Forex Basics in IM Forex Academy
Before moving further with learning how to trade in the trading platform you need to know Forex basic terms which are used among all Forex traders.
Not knowing them you cannot learn Forex trading because those terms are used each time you want to open a new order.
Forex basic terms you need to know are:
- what is leverage
- what is lot
- what is margin
- what is pip
- what is buy
- what is sell
- what is pending order
- what is stop loss
- what is take profit
When you learn all these terms you will know all details about trading and how much money you will make or lose on each trade.
If you do not know these terms you can be sure you will make mistakes all trading beginners make at the start. At the end you will lose money you invest at the start and that is not what you want to accomplish by trading on the Forex market.
Now, you have come to the best part and that is how to manage money you have invested. Managing money you have invested is mostly about how to take care of the risk, also called risk management.
Risk management is all about how not to lose money you have invested and how to reduce risk of losing money on each order you open.
If you do not protect your money you have invested you will lose all what you have invested. And at the end you will not have money to trade with.
In Forex you need to have money to make more money. Not having money you journey on Forex is done, except demo trading where you can practice.
Your goal should be always to protect money you have invested and to reduce loss on each order you open so you can have smaller losses and have bigger wins.
At the end when you calculate all your winning trades and losing trades you should end up with a positive outcome on your trading account.
Not losing money and controlling how much to risk on each trade comes to controlling yourself.
If you enter into trading for quick money and to get rich quickly, you can be sure that you will quickly lose your money.
In trading psychology takes the majority part and that is to control yourself not being greedy and not to fear.
Greed will take your money very quickly if you do not control it. Greed will force you to risk more just to make more which eventually ends up losing all what you have.
Greed will force you to revenge on the market when you lose one trade. You will open a new order with larger risk and then you will again.
If you cannot control greed, then stop now and start changing your mental state and try to switch into trading with more caution.
Another thing is Fear. Fear will prevent you from entering into trade which could end positive for you. If you think that you can lose your money that fear will prevent you entering into the trade.
Also, when you have winning trade and the market is moving in your way, you can fear that you will lose money if you stay in that trade. And you decide to get out, but the market continues moving forward in your direction. And you end up with small profit which could end up with larger profit if you did not fear.
IM Academy Forex Trading Strategies
When you join IM mastery forex academy you will have different strategies to learn. You can decide if you want to follow someones strategy, to use IM harmonic scanner to get trading signals or you want to learn how to trade by yourself.
You will learn set of rules you can follow so you avoid emotions in trading. That will help you being consistent and having a lot of results you can fine tune your rules if they are not profitable.
If you cannot be active on IM mastery academy you can use imarketslive apps, Android or iPhone, and get subscribe for desired push notifications. That way you can get notification for specific strategy or pairs.
These were steps you will need to take before you start trading on your own. These are mandatory steps and you should have the best guide to accomplish them, and for that you have Forex IML mastery academy.
You will be guided step by step to learn how to start trading.
After you learn these steps you can move forward with learning IM academy forex trading strategy which will define crucial steps entering into the trade.
So, do not waste any more time and sign up for Forex IM mastery academy.
Still Not Sure?
If you want even more details about IM Forex academy you can join Traders Crunch team where I will send you more details.
You will also get more details about each step and I will give you more material that will help you in trading.
I will help you as a mentor to go from one step to another by providing you material and steps so you do not make mistakes that beginners make.
To join just click below and you will be redirected to a site where you will see what you can expect.
See you inside.
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