When I decided to learn about forex trading online, I wasn't sure where to go or what to seek out in order to receive an education that would allow me to achieve success in the forex market. Based on my experiences, I have compiled a list of the ten best ways to learn forex trading online so you don't have to go through the same confusion.
1. Learn forex trading online by finding and reading free online articles and e-books. These articles and e-books will mostly provide a general knowledge of the forex market. A few may delve into specific trading strategies, but usually you will need to pay for this type of information.
2. Learn forex trading online by going to your local bookstore and purchasing a couple of books on the subject. I recommend getting a book on general forex knowledge as well as one that suggests specific strategies. Two to consider are Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets by Ashraf Ladi and The Complete Guide to Using Candlestick Charting: How to Earn High Rates of Return Safely by Alan Northcott.
3. Learn forex trading online by visiting online brokerages like Easy-Forex, eToro, and ForexYard. Go through their sites and find their guides about forex trading. Some brokers have whole libraries of currency trading information.
4. While you are at the broker site, seek out their tutorials. Some tutorials will be geared toward the use of their product and not totally focused on how to trade, however, these can be extremely helpful when it comes time for you to make a decision about which forex software platform to use.
5. Learn forex trading online by joining a forum or two that are geared towards forex trading. Forums can provide a wealth of knowledge because investors who are making profits in forex often provide advice to newcomers. You can find the answers to question on just about anything related to the forex market in the forums and if you can't find the answer, you can just submit the question yourself and get a relatively quick response. ForexForums.com and BabyPips.com are a couple of good forex forums.
6. Learn forex trading online by searching for currency trading videos on YouTube and other video sites. There are some videos that review forex products and that will provide specific trading advice by guiding you through the exact steps. Just be aware that although a trade strategy may appear to be successful on video, there are still inherent risks involved.
7. Learn forex trading online by finding a mentor. If you do not know someone locally who actively trades in the forex markets, use the forums or other internet venues like Facebook or LinkedIn to request help.
8. Learn forex trading online by subscribing to an online training program. Although some of these can be very expensive, most are very good about teaching the basics as well as advanced strategies. Many of these programs have excellent support systems which have people that will walk you through your trades.
9. Learn forex trading online by attending local seminars or by attending seminars held on the web. In some cases, you will be required to subscribe to a service in order to attend an internet seminar even though the subscription may be free of charge.
10. One of the best ways to learn forex trading online is to try out a free forex demo account with an online broker. A forex demo account allows you to trade with virtual money using real currency data. There is no better way to learn than by trying it out using real strategies, but without any financial risk. Once you have made virtual profits and have gained the confidence in making forex trades, you can then apply the same winning strategies to a real forex account.
Rich Hurlbrink, going on 11 years employment in an investment company, is an online writer specializing in the Forex market. Find out more about forex trading with my popular free ebook, available at: => Get it before it's gone!
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