The Best Way to Learn Forex Trading

burdianex

Trader
May 10, 2013
21
0
12
More and more people today turn to Forex with high hopes of creating a new stream of income. Very good idea I can say! But, believe me; it's not that easy as many cunning marketers make it sound like, to take your precious money. Apart from a good level of knowledge, you will need to discipline yourself, develop great money management skills and gain a coherent understanding of market psychology should you really wish to turn Forex into a long life valuable profit source. Relax! It's not all that complicated as it sounds, but the point I am trying to make here is that you need to take it seriously and commit yourself to see some positive results.

First of all, to enter the Fx market you need to be very well prepared as you are entering a high risk 'zone'. More specifically you really need to invest time, effort and some money in your knowledge to be able to well understand how the system works and gradually built up your personal system and strategy. I always strongly recommend newcomers to avoid quick and easy solutions like copying traders and robots. There is nothing wrong with imitating successful traders but this should be done wisely, once you understand each trader's strategy and you agree with it and it coincides with your own way of trading. As far as robots are concerned I would be very cautious as a Newbie, as the good robots are very few and you should really be extremely careful when purchasing one which might most probably not do what it promises to.

Therefore the best way to begin is by reading free books and articles on the web. There are literally endless sites teaching you how to trade and many books and material offered for free. This of course is only the beginning. As with any other form of education I would strongly recommend investing in high quality books and/or training programs which will help you take your education to a whole different level.

The next step, which every single beginner must definitely pass from, is to practice with a demo account. Many trading platforms offer you this free service in order for you to practice in a virtual environment and do trades but with imaginary money. Make sure though you spend enough time to find the platform that works the best for you. This stage although necessary will not fully prepare you to becoming a successful trader. Demo accounts will help you in understanding how the system works, but your psychology and ambience as a whole is very much different when you are trading with your real money. Therefore, the only way to succeeding is through practice and only. Of course in the beginning you will enter the market with a very small capital to lower your risks, but high enough though to feel the significance of trading your personal savings. As you gradually gain confidence and increase your deposits you can steadily begin to build up your first investment.

In conclusion, you must remember that, no matter how many books you read or training programs you follow unless you practice in real-time with real money you will never learn. Gradually you will become more experienced and in time, learn to accept losses and slowly built up your own trustworthy system and complete more and more successful trades. As they say my fellow traders, practice makes perfect!
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
22
32
Canada
I think the best and only way is to learn through mistakes you make.
 

dragon

Trader
Jun 18, 2013
9
0
12
well i think that best way of learning forex is getting experience on forex demo account and learning from your losses
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
3
49
Well, you can open a demo or go live with a small account, it is your call. Of course you can use the demo to test any strategy before going live..
 

Master Forex IB

Active Trader
May 23, 2013
174
1
27
Best way of learning forex is to do more practice. If it is practiced with monay management then it will givve more results to traders. They need experience to work in this market . When they know right time and style of trading for then they will really learn the art of trading.
 

malicki87

Trader
Jul 19, 2013
1
0
17
You can learn forex by visiting AskMarioSingh of FX Primus that will provides day trading strategies for biginners.
 
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It's also not as hard to learn as some may lead you to believe, either. I's simply a mindset you must adopt. First, you CAN learn Forex. Secondly, you WILL learn Forex. I had no one to ask when I started in Feb last year. I'm a bit of a renegade and started thinking outside the box of routine maneuvers voiced on many forums.

I played a lot of "what if" to uncover things that worked and/or failed. Failure is how you learn, not by winning. Winning is just verification of what you know. I base a lot of my trading on my combat experience. Surprisingly, they're correlated.

While I studied for that first year, I mostly traded at 0.01 lots. I only needed to see positive movement to verify my intent, not to burn through several demo accts.

I finally settled on three basic methods: Scaled trades, Basket trades and my favorite, Scaled Baskets. These three methods sent me to Europe this May, my first time over.

Never fear trying the unorthodox in your trading. It's how you uncover diamonds.

Finally, you will never quit learning this beast. New systems and tools will appear. Figure out a way to use them not mentioned by the provider. Single pair trading is a waste of time to me now. Currently, I pull about 3 BIG trades/wk.

You need to decide who's right. Me? Well, what I do works for me. It may not work for you. Why? Mindset! A person who asks for more info when it's stated all is given will not evolve.

You have to make a life-changing decision today. "I CAN and WILL learn Forex!" And give yourself time to achieve that goal. I started in Feb '12 by only knowing the word "FOREX." I'm no better than you. And today, money is no longer the goal. For me, it's the challenge between Price and myself.
 

Jungletrader

Banned
Sep 5, 2019
78
7
19
43
Places like here and Babypips Forexpeacearmy for free trading education.
Demo accounts fir applying this under real trading conditions
 

e_abrams

Active Trader
Dec 11, 2020
363
26
39
38
The best way to learn to trade is to trade. Obviously, you also need to go through quite a lot of theory, but once you do that, you have to use it in practice to really learn.
 

e_abrams

Active Trader
Dec 11, 2020
363
26
39
38
For how long did you practice on demo before moving onto a live account? And did you think it was enough? Or too much?
 

reecerispoli1

Trader
Sep 22, 2020
51
6
19
28
More and more people today turn to Forex with high hopes of creating a new stream of income. Very good idea I can say! But, believe me; it's not that easy as many cunning marketers make it sound like, to take your precious money. Apart from a good level of knowledge, you will need to discipline yourself, develop great money management skills and gain a coherent understanding of market psychology should you really wish to turn Forex into a long life valuable profit source. Relax! It's not all that complicated as it sounds, but the point I am trying to make here is that you need to take it seriously and commit yourself to see some positive results.

First of all, to enter the Fx market you need to be very well prepared as you are entering a high risk 'zone'. More specifically you really need to invest time, effort and some money in your knowledge to be able to well understand how the system works and gradually built up your personal system and strategy. I always strongly recommend newcomers to avoid quick and easy solutions like copying traders and robots. There is nothing wrong with imitating successful traders but this should be done wisely, once you understand each trader's strategy and you agree with it and it coincides with your own way of trading. As far as robots are concerned I would be very cautious as a Newbie, as the good robots are very few and you should really be extremely careful when purchasing one which might most probably not do what it promises to.

Therefore the best way to begin is by reading free books and articles on the web. There are literally endless sites teaching you how to trade and many books and material offered for free. This of course is only the beginning. As with any other form of education I would strongly recommend investing in high quality books and/or training programs which will help you take your education to a whole different level.

The next step, which every single beginner must definitely pass from, is to practice with a demo account. Many trading platforms offer you this free service in order for you to practice in a virtual environment and do trades but with imaginary money. Make sure though you spend enough time to find the platform that works the best for you. This stage although necessary will not fully prepare you to becoming a successful trader. Demo accounts will help you in understanding how the system works, but your psychology and ambience as a whole is very much different when you are trading with your real money. Therefore, the only way to succeeding is through practice and only. Of course in the beginning you will enter the market with a very small capital to lower your risks, but high enough though to feel the significance of trading your personal savings. As you gradually gain confidence and increase your deposits you can steadily begin to build up your first investment.

In conclusion, you must remember that, no matter how many books you read or training programs you follow unless you practice in real-time with real money you will never learn. Gradually you will become more experienced and in time, learn to accept losses and slowly built up your own trustworthy system and complete more and more successful trades. As they say my fellow traders, practice makes perfect!
It’s a continuous learning process and learning from fails helps you not to make same mistake again