This article has a very simple goal of introducing readers to some of the more important or at least mainstream Forex training tips and techniques. The discussion will be broken down into different types of Forex education (i.e., college education, vocational courses, online courses, DIY ). Remember, this article is just a primer to get started. So the same question must also be followed up by the actual query.
College courses related to finance, business, economics are a good place to start. Of course (no pun intended), you can dabble in foreign languages if you want to specialize in a specific currency pair. Most experts agree that a solid background in financial theory is beneficial, but you must also focus your dissertation on spot market trading. At the very least, you need to be in a club that actually offers forex training. In other words, supplement your basic course with training and experience, and then specialize in a specific currency pair.
To be honest, the author has yet to come across a Forex-focused career course. Of course, the most basic definition of Forex is courses related to currencies and foreign exchange, so the same types of courses apply (ie Finance, Business Administration, Accounting, Economics, etc.).
Now, the author can say that he has come across dozens or even dozens of forex-specific online courses. Of course, most of these courses are useless on their own. To make matters worse, some are actually scams that take free information, rewrite the same words, package it as state-of-the-art with audiovisual presentations, and then charge students exorbitant fees.
First remove the hard sell or have the feeling of “if you buy now”,wait for it, there’s more”, “they should be illegal secret techniques”. Pay attention to the syllabus and verify that it complies with your local board of education certificate. Now, go to the website and check if there are any pending complaints. Remember that a certain amount of complaints is okay (there are a lot of complaining netizens out there). However, recurring unresolved complaints and numerous chargeback issues are red flags. In other words, use your internet skills to find reasons not to sign up.
eBooks / Do It Yourself
The author believes that in many ways, buying an ebook is better than an online course. This of course presupposes that people actually read, understand and analyze the content. At the very least, Forex enthusiasts should read some eBooks before actually enrolling in an online course. That way, he/she already knows what to look for in terms of syllabus, products, certifications, etc.
Series or no series
The best forex traders are “series” qualifiers. By series, this means one of the following:
- Series 3
- Series 34
- Series 63
This is the best way to get the attention of Forex traders. However, if you are only working part-time, you can rely on a broker as long as you have a solid knowledge of how Forex works.
Why learn forex trading?
According to experts in the field of Forex market trading, seven out of ten traders tend to lose money consistently. The main reason behind it is that they do not put in enough effort to learn Forex trading. Forex trading is a very lucrative and rewarding money-making scheme, whether you are at work or within the confines of a modest residence.
In today’s world, Forex traders are not limited to those who travel to business centers for personal transactions. Many people do it through the Internet with the help of the most modern software and technologies. So today, a Forex trader is someone who is willing to learn and broaden his horizons in the craft. On the one hand, Forex trading can be seen as an art and a science of creating opportunities. If you want to follow some basic principles seriously,learn forex trading.
Is Forex Risk Too Much? The answer to this question is yes, if you don’t have enough knowledge, there is too much risk in Forex. Otherwise, you will not be part of the 70% of stats that always lose and invest in Forex trading. Why choose to belong to the 100% if you qualify to belong to the 100%?
If you are willing to learn Forex trading, financial freedom and many opportunities will come your way. Armed with knowledge, you can easily and confidently execute the transaction process and traverse the entire system. Forex trading is a lifetime learning process and each day should be considered a unique adventure. While it is true that there is an element of intuition and luck in the trading process, it is equally important to gain a solid understanding of trading principles such as techniques and strategies that can be employed before, during and after the actual trading process.
The best hint at this point is the thirst for knowledge. In addition to constantly updated learning resources such as educational websites, you can subscribe to the services of a mentor so that you can acquire the best knowledge based on the personal experience of other traders. In the end, the best way to learn forex trading is to learn from experience. Try to apply what you have learned through practical theory.