What is the best way to learn about forex trading?

[sunar14]

When we are doing our trades in the Demo trading accounts then we can get to know about the various Trading Systems and also see if a trading system that we are using is profitable. In this way we can learn from the use of the Demo trading accounts.

 

[Oakum]

There are numerous ways such as websites, Youtube videos, professional courses, personal coaches/mentors and Forex groups, etc. So, a beginner can choose the method that he finds most effective and easy to understand.

 

[Fried_Rice]

Practice, practice, practice.
Learn from your mistakes.

 

[Lewis Capaldi]

I would like to learn to trade forex but don't want to sign up to any scams that say they deliver but don't and just take your money,is there any real genuine help out there.

Till now, it depends on your own choice! I see, few traders are making money by using the default trading tools, while others are depending on the Price Action trading, besides news trading is such an amazing way of money making! By the way, there is nothing like shortcut way of money making, it takes time to learn Forex!

 

[cfdnest]

It’s true that most traders would recommend demo trading until you get an idea of what trading looks like. But I don’t think anything such happens on a demo account where you don’t go through the feeling of having your money at risk which you will otherwise be doing throughout your trading career. Practice live trading instead but with a small amount. At least, you won’t be filled with false hopes and expectations from the market that will result in bigger losses later in your career.

 

[Serenity]

The best way to learn trading is by actually doing it. That’s so because trading is a practical skill. You have to understand the market well to become profitable. Start with a demo account and build some skills. Once you have an understanding of the market and skills, trade in the live market. Aim for small goals initially and try to achieve them. If you keep repeating this, you will get better at trading.

 

[Ransack]

I’d say, sign up for a good beginner level trading course. Although there's plenty of information available online, as a beginner it’s very difficult to understand what all is important and what you should avoid. If you don’t want to invest money in any trading course right away, you can consider taking up free courses like School of pipsology or Forex Military School.

 

[JoshEvansFX]

I would like to learn to trade forex but don't want to sign up to any scams that say they deliver but don't and just take your money,is there any real genuine help out there.

YouTube is a great place to start

 

[e_abrams]

True, there are plenty of good tutorials there. I think the main problem for new traders is how to figure out what is a good tutorial and what is a bad tutorial, rather than a lack of information.

 

[HighcolVanner]

Traders should choose their source of learning wisely. The source of information should be legitimate and should fulfil the requirements of the traders.

 

[e_abrams]

How does one recognize a legitimate source of information though?

 

[Flophouse]

I’d suggest learning and starting practising on a demo account simultaneously so as to consolidate the information.

 

[e_abrams]

That is usually the best option, apart from learning the bare basics. Every piece of theory then must be tested in practice.

 

[Resolve]

That is usually the best option, apart from learning the bare basics. Every piece of theory then must be tested in practice.

When we are trading in the real trading accounts then only we will come to know what is the actual trading like and what are the mistakes that we are doing in our trades.

 

[BritneyHolden]

In my view, micro accounts are the best place to learn forex trading. It’s great to read books and practice on a demo account, but you will get well-versed with the live market trading only when you trade in the live market. You can keep your risks low in the starting.