1 Day Online Course Outline, Course Objectives, and Scheme of Work: Forex Trading for Beginners

Course Title:

Forex Trading for Beginners

Course Duration:

1 Day (6-8 hours, delivered online)

Target Audience:

Individuals interested in learning the basics of forex trading, including beginners with little to no prior knowledge of trading.

Course Objectives:

By the end of this course, participants will be able to:

1. Understand the fundamentals of forex trading and the forex market.
2. Identify key terminology and concepts related to forex trading.
3. Learn how to read forex quotes and interpret price movements.
4. Develop a basic trading strategy and risk management plan.
5. Utilize trading platforms and tools for effective trading.
6. Gain insights into market analysis and trading psychology.

Course Outline and Scheme of Work

Session 1: Introduction to Forex Trading (1 hour 30 minutes)

• Objectives:

  • Grasp the concept of forex trading and its significance in the global market.
  • Familiarize participants with key forex terminology.

• Topics Covered:

  • What is forex trading? Definition and overview.
  • How the forex market operates: Major pairs, minor pairs, and exotic pairs.
  • Key terminology: Pips, lots, leverage, margin, and spreads.

• Activities:

  • Group discussion: Share motivations for learning forex trading.
  • Interactive quiz: Basic forex terminology and concepts.

Break (15 minutes)

Session 2: Understanding Currency Pairs and Quotes (1 hour 30 minutes)

• Objectives:

  • Learn how to read and interpret forex quotes and price movements.

• Topics Covered:

  • Understanding currency pairs: Base and quote currencies.
  • How to read forex quotes and identify bid/ask prices.
  • Factors that influence currency prices and market movements.

• Activities:

  • Practical task: Participants practice reading forex quotes using sample data.
  • Group activity: Analyze historical currency movements and identify influencing factors.

Break (30 minutes)

Session 3: Developing a Trading Strategy and Risk Management (1 hour 30 minutes)

• Objectives:

  • Create a basic trading strategy and learn risk management principles.

• Topics Covered:

  • Different types of trading strategies: Day trading, swing trading, and scalping.
  • Importance of risk management and setting stop-loss orders.
  • Developing a trading plan: Goals, entry and exit strategies, and position sizing.

• Activities:

  • Practical task: Participants outline a simple trading strategy based on their goals.
  • Group discussion: Share risk management techniques and experiences.

Break (15 minutes)

Session 4: Trading Platforms and Market Analysis (1 hour 30 minutes)

• Objectives:

  • Gain insights into trading platforms and market analysis techniques.

• Topics Covered:

  • Overview of popular trading platforms (e.g., MetaTrader 4, TradingView).
  • Technical analysis basics: Understanding charts, indicators, and patterns.
  • Fundamental analysis: Economic indicators and their impact on forex trading.

• Activities:

  • Practical task: Participants explore a trading platform and set up a demo account.
  • Group discussion: Analyze a current market event and its potential impact on currency pairs.

Assessment:

• Continuous assessment through practical tasks, group discussions, and quizzes.
• Final task: Develop a simple trading plan incorporating a chosen strategy and risk management techniques.

Resources:

• Digital handouts on forex trading strategies, risk management, and analysis techniques.
• Suggested reading: Articles and case studies on successful forex trading practices.

This 1-day online course equips participants with the foundational knowledge and skills needed to begin their journey in forex trading. By focusing on key concepts, strategies, and tools, participants will be prepared to navigate the forex market confidently.