Forex education and learning how to trade

[destriero]

Right learning is really important. You may find crap to read on the internet. You must be really careful about the source you choose to study from. Knowing the right thing is as important as trading at the right time.

 

[Hoper]

The basis of learning is real practice. I very quickly switched from a demo account to trading no deposit bonuses. Took bonuses in ForexChief, FxOpen and other companies. Then I started trading on cent accounts and then on standard ones. This approach allowed me to succeed in the forex market.

 

[Pinking]

If you are interested in trading forex, it is important to know the basics. You can learn about forex trading more by actually trading it rather than reading books. Alternatively, start trading in a demo account and learn a few strategies.

 

[ShihTzu]

Learn to keep patience before you do anything in the forex market. It’s a risky activity and all the trades won’t get you money. You have to stay composed until you find a good trade to make money.

 

[Bane]

Gaining knowledge and honing one's skills is essential to being successful in trading. learn new things constantly. It will help you to become a better trader.

 

[vvm]

It is a long way to trade correctly
Learning, learning, learning
Trade demo and real accounts simultaneously
The both accounts have to be equals with your real money
for example 500 demo & 500 real account
atb vvm

 

[jamesgarcia]

The process of learning about the forex market and how to trade is itself quite long. There are a lot of market tools to learn about like charts, indicators, strategies, and signals, how they work and where to get them. Once one has known the basics, he or she can try to practise trading in a demo account, before trading with real money in a live account. In a demo account a trader has the opportunity to try out trading however they want without risking their real money.

However, a few things that a trader must learn, and practise, which are as important as a good trading strategy are as follows - money management, risk calculation, back testing, consistency, anger management, and dedication.

 

[Patrizia Bruno]

I would like to share a few methods which I was using while I was in my learning phase. Read a lot of books as if you would read before an exam. Have a systematic study plan on what you should learn before entering the market so that you won’t get overwhelmed with the amount of information overload we get on the internet platforms. Listen to everyone but only practise what works for you. Always test your strategies on a demo account before you engage in trading with a real account. You will see a lot of ups and downs throughout your journey but keep an open mind and be optimistic about your future as a trader.

 

[Genetrix]

Learning is a part of your trading career. You must never stop gaining knowledge even when you have started to make consistent profits. There is always a chance of improvement and you will be able to improve only if you don’t become overconfident with time.

 

[Wordplay]

You can get your basics cleared easily. You can either practice on a demo account or micro account to obtain practical knowledge which is needed for a healthy trading career. There is a lot of forex trading material available on the internet for free. What makes you different from other traders is how well you make use of all that information available to you.

 

[Subfocal]

If you make up your mind that forex trading is all about the knowledge you obtain from your experiences, it will get easier for you. Your education will probably play the most important role in your trading career and so, you must keep in mind all the lessons you read about or experience in the live market.

 

[Bumbledom]

The formula of success in forex is simpler than when actually solving any. Consistent learning, understanding the market and good trading skills are required to make winning trades.

 

[Factualism]

If you aim to be a successful trader, you can't stop learning new things. Successful traders have one thing in common: They are always learning and improving their skills. There is a great deal of information that can be found on the internet. You can use it to your advantage.

Real knowledge, on the other hand, can only be gained through actual world experience. The best way to learn is to use a demo account. It will allow you to fine-tune your skills without spending any of your own real money.

 

[pumlley]

I recommend Forex Trading For Dummies (the latest edition) by Brian Dolan and Kthleen Brooks.
I'd suggest you not to overcomplicate things. The very basic rule to trading is Buy low and sell high. In fact, it is better to start trading with micro accounts. As soon as you become an experienced trader, you can upgrade your account size.

 

[Hoper]

These recommendations are mainly for the stock market, not forex.
But I agree with you about micro-accounts. I once started with cent accounts. First I opened a cent account with FxOpen, then with ForexChief. When I mastered trading and earned some money, I switched to a standard account.
In my opinion, a cent account is better and more useful for a trader than a demo account.

 

[Zygosis]

There is no one-size-fits-all answer to this question, as the best way to learn forex trading will vary depending on your individual learning style and preferences. Everybody has their own method of learning forex trading, which is why it’s very hard to find a universal guide. Learn to trade; practice and test different strategies using a demo account; start trading real money using little capital; learn to control your emotions and be as objective as possible while trading on the real account; when you reach a point where you have experience with your strategy and can control and manage your risk and emotions to earn profits consistently, it will be your decision to increase your trading capital.

 

[Gumshoe]

It doesn’t matter from where you are learning. All that matters is that you understand all that you learn. If you are not sure if you are learning properly or not you can open a demo account and put your knowledge to the test. You will get to know how well you have understood the market.

 

[Aerogenesis]

With so many content creators out there, wrong information about forex trading is also being shared. So, I believe when you study a new chapter, you must study it from different sources so that you are sure about everything you are learning. Also, keep practising while learning to clear your doubts.

 

[mazama_cap]

test test and test. If you can't trust your rules you will never be profitable

 

[Hoper]

All this needs to be tested in practice. And not on a demo account, but on a real one. Better on a cent.