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Why Forex Traders Should First Learn Forex Online

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  • Why Forex Traders Should First Learn Forex Online

    As a leader in the online Forex community, we feel it is important to be open and honest with our readers. Although it might be in our best interest to promote Forex trading like the Forex brokers do, with promises of extreme and immediate wealth, we think it is crucial and beneficial to traders that they know the inherent dangers of Forex trading. However, I am not going to focus on the negative and discuss how potentially risky Forex trading can be, but rather, I am going to offer a simple solution, which will minimize your risk when trading Forex.

    The most important thing you will do before trading Forex is learn about the market. The internet is overflowing with Forex courses of all kinds. There are webinars, Forex e-learning online courses, offline courses, which are also promoted online, and many other educational resources at the trader’s disposal.

    While the temptation to jump in to the deep waters of Forex trading is very much present and overpowering, especially with all the promises being made by the Forex brokers, it is of utmost importance that Forex traders spend the time studying the ins and outs of Forex before risking a cent on the Forex market.

    There are Forex courses that focus primarily on Forex technical analysis and claim that the “Trend is your friend”. The underlying principle of this philosophy is of course that if a certain currency pair is moving in one direction, chances are, it will continue down that path. There is no reason, according to the technical analysis school of thought, that there should be a trend reversal with no explanation. An explanation can be a certain event that would affect the Forex market, but if no such event takes place, technical analysts will tell you to trade with the current trend.

    A Forex technical analysis course will teach you how to read charts, how to analyze the market using all the fancy technical indicators, and how to best predict the upcoming movements of the Forex market. Whether you are a big believer of technical analysis, these tools are crucial for your Forex success, and should therefore be taken extremely seriously.

    The opposing outlook on the market and its developments is of course the school of Forex fundamental analysis. This concept will tell you to focus on the news and current events, and less on the trends and charts. Fundamental analysts will claim that trends reverse themselves all the time, and in order to best predict future market movements, it is best to pay close attention to the news.

    Whichever analysis you think works best, it is crucial you do not ignore the other one. A combination of both tools is what will bring the best results, but before trading, learn both these tactics by taking as many courses and reading as many articles as you can.

    One such course, which we reviewed last week is the Forex Matador provided by an industry leading Forex broker. The eToro course covers all the basics of Forex trading. It talks about the most elementary aspects of Forex and does not ignore the most technical of Forex indicators.

    This is just one example of the hundreds of online Forex courses available to traders. A trader who jumps into the deep water of Forex trading without learning how to swim first, that is a trader that will not last long in the Forex trading arena. In a field that requires a high level of patience, a trader’s first test is whether they have the patience to put off the actual trading and sit and do some serious learning first. If you cannot spend the time to do that, you might want to consider another profession, and before losing money would be a good time to do that.

  • #2
    Yeah definitely, I believe learning is the way to go towards success, if we’re not good at learning then we’re never going to be good at earning either, so that’s why we got to be very careful in how we work everything. It helps so much because of OctaFX broker since they’re ideal place to learn from and even to execute whatever we have earn through wide range of demo contest that’s available here and my favorite is cTrader with 400 USD prize and weekly based.


    • #3
      Forex trading is a game of probabilities so you have to learn it wisely in order to gain proper education about it. The broker I'm trading with is Freshforex that has a very unique forex educational program. A great thing about this is it teaches forex trading step wise. You learn new things in news step as you progress though this learning program.


      • #4
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        • #5
          That’s really true, Forex traders need to learn first! Because, it’s a knowledge based profession! That means, all of successful Forex traders are knowledgeable! When I opened my demo then I didn’t have any trainer, that’s way I had chosen trade24 broker since they are very active on free educational service! Particularly their daily technical analysis helped me a lot to learn professional market analysis!


          • #6
            Yes obviously a trader should learn Forex trading first because of it's own facilities. There is also an opportunity of unlimited profit. If the capital is big then profit will also be more. Skill is needed just then we can start our trading. We can use here demo trading to test ourselve. Technical analysis is enough for trading here to get a signal. We also can take the help of broker as well as websites to get signal of trading. So it's a big opportunity for a Forex trader.


            • #7
              A beginning forex trader in today’s age faces many challenges that didn’t exist 20 years ago when the internet wasn’t as prevalent as it now is. Trading isn’t something typically taught in schools and universities, most traders feel as if they are on their own as they begin their journey of learning how to trade. You can start your journey with very reliable broker in the forex market which is ECNCAPITAL.COM.
              Last edited by zantu; 02-01-2017, 11:26 AM.


              • #8
                Is this the right question to ask? Trading is a profession right! And to become professional in any sector you need to study first. Acquire knowledge so you can apply your profession. And nowadays you can find anything what you want to learn on internet. Obviously you should learn forex from online. Where to go? MXTrade is the right place to find expert video tutorials of forex trading free of cost.


                • #9
                  A trader gets loss from Forex for the scarcity of knowledge. That’s why he should learn Forex well. Trade12 is such a broker providing proper methods of learning in three sections like Free e book, video tutorial and the last one is Forex glossary. Their e book is very fluent there is a vast of knowledge one can easily fill his knowledge through it. I follow their teaching methods and learning Forex well. They have educational centre too.


                  • #10
                    Learning is first quality in trading online and without it no one can do trading business. Everyone ought to learn trading before putting any trade out the market. They ought to know how take a trade that can bring advantage for him. Picking a respectable broker is moreover fundamental, now and again an antagonistic broker can be light behind the mischance. I can express that I am wonderfully honored to have a broker for my options trading. My broker name is lxmarkets.


                    • #11
                      In this volatile trading place each the trader has a choice of the broker to be used , should the trader can choose a broker that is more appropriate to the concept of trading that will be used , if you love scalping should choose the broker that allows trading concept such as this. I am a professional scalper and as a scalper from my first day of trading I have been using TempleFX which does not restrict any kinds of trading techniques with scalping and hedging. so, from here I can scalp at any major currency pair including lowest trading spreads at all times. So, my trading life is very much comfortable.


                      • #12
                        Learning is very important in every sphere of life. It is also very important to a trader also. A trader can not trade well without learning forex well. Without having a good knowledge of forex if a trader start trading then he has to face losses. Also a trader needs to have a good broker to trade with. Because a trade needs his brokers support in every step of his trading.
                        I myself trade with FreshForex broker. This broker is very good ad reliable. They always take care of their clients comforts. They are very good at their services. This is the best broker I have ever worked with. I feel good working with this broker.