Summary: Introduction to the Forex Market
This is one of those lessons that nobody wants to go through, “just blah blah” and it is understandable, but if you came so far and are actually reading this congratulations! You definitely know how things are done! First things first! Congratulations again and good luck in your journey.
This lesson mostly talks about theory of the forex market, how it was formed, how it works, who participates in it so, I’m not going to send you back to give it another read. Probably the most important part in this lesson was the difference between brokers (so if you skip it go back to the participants section and scroll down to the brokers section).
Now, we have got a couple brain feeders in this lesson, here are the answers:
Brain Feeder 1
About the volume, if you have a very complex answer and a new theory of how the volume can be calculated, scratch it! It just can’t be calculated, there is no exchange. We can have rough estimates through the futures market, data from different brokers, etc. but they are only estimates.
Brain Feeder 2
About overlapping sessions, yep, you got this one right, didn’t you? When sessions overlap, the market tends to have more liquidity and volume thus the market has (on average) larger moves and its better for us traders (when those moves are in our favor of course).
Hope you enjoyed this lesson! Now lets move on to the next one.