How to Learn Forex Trading?
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How to learn Forex Trading, a question that has surely crossed your mind at some point. Does it sound more complex than it actually is? Do some people make it out to be that way? The list goes on. We believe in education, education is King in any industry you are thinking of going into. Going into the unknown can be scary, no doubt about that!
Does it have to be as bad as some people make it out to be? Absolutely not. Preparation is key and will take a lot of the stress off of you. It would be a lie if we said there won’t still be some form of nervousness. Guess what, that is 100% normal. Let’s look into how you can learn Forex Trading and prepare yourself for the financial market.
Discard 90% of What You Read Online
Yes, 90% of what you read and are being sold is BS and should be ignored and discarded. We have seen it all, from EAs, Robots, Signals and magical strategies and theories. Don’t take in what the majority is trying to sell you, theoretically or physically. Why do we say this? Simple, the vast majority, in fact, 95% of them are not successful long-term. If they were, why sell their bread and butter to you?
Surely, they can trade their own money and become the next Warren Buffet of Forex trading. Guess what, it never turns out that way and for a valid reason. Once again, it is all BS “gurus” are trying to feed the beginner trader. Even more experienced traders that are failing to reach, what in their mind indicates success, sometimes turn to the above mentioned. Two words, Green and the Fear of Missing Out! Don’t become a victim.
Stick to The Basics
The basics, the 10% you should take in and put into practice. Within the basics, there would be a few things you need to grasp.
These all form part of Price Action Trading. Naked charts without indicators. Sure, adding a moving average on it is perfectly fine. But keep your chart clean on focus on your candlesticks and price movement at face value. Best of all is that there are tons of free education on this out there, such as on our website. YouTube is also a great source, as long as you don’t wander off and buy their courses of quick-fix solutions. We know how tempting it can be. Stick to your guns, you know better!
The Conclusion – How to Learn Forex Trading
If you take what you have learned above, we can almost guarantee you the best possible start, putting you 10 steps ahead of your fellow traders seeking fame and fortune overnight. Rome was not built in a day. These things take time unless you are one of the lucky few that simple “snaps” the concept and reads the charts like your favourite childhood book. You might find it funny but it happens. What does this mean for the rest of us?
We just need to work harder, and we will meet them there sooner than later! How to learn Forex Trading is not as complex if you are shown in the right direction. Forex books are also a great source of education.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst