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Trader Development Internship Module 1 - Currency Market Basics
The Apiary Investment Fund manages money in the foreign currency market. There are many reasons for this: leverage, diversification, liquidity, market hours, etc. While it is not necessary to have an extensive knowledge of the forex market before you start to trade, there are a few essential points you must understand. For now, we’ll cover the basics and help you establish your foundation as a new currency trader! In order to give you a sense of direction over the next several months, we have developed 12 modules designed to guide a beginner to hopefully become money management ready. Though they were originally conceived as weekly checkpoints, you can always find them on the my.apiaryfund.com site under “Resources” in “Extras.” For now, let’s focus on understanding the following concepts: Why trade currencies? How does currency trading work? When to buy and sell What is a “PIP?” What is a “Lot?” How do you calculate profits?
Trader Timeline...
Where should you be right now?
It’s important to understand the basics in order to become a successful currencies trader. Fortunately, you’re off to a great start! Begin by watching the following recordings of previous discussions before moving through the rest of this module:
Forex Basics February 14, 2011 my.apiaryfund.com/node/424 Intermarket Analysis March 09, 2011 my.apiaryfund.com/node/454