Welcome to StockForums.info!   

Advertisments:


What is the best source to learn forex trading?

What is the best source to learn forex trading?

Postby uisdean » Wed Mar 20, 2013 7:13 pm

i need a trusted book or a series of books or a collection or seminars or videos or anything that can take me from A to Z because simply I KNOW NOTHING ABOUT IT but i am curious and i want to learn it and if i like it i will continue
uisdean
 
Posts: 45
Joined: Wed Oct 03, 2012 1:55 pm

What is the best source to learn forex trading?

Postby shadwell » Wed Mar 20, 2013 7:29 pm

i need a trusted book or a series of books or a collection or seminars or videos or anything that can take me from A to Z because simply I KNOW NOTHING ABOUT IT but i am curious and i want to learn it and if i like it i will continue
There are many sources to learn forex trading. As a matter of fact too many that one often get confused. The numerous forums with 101 views just adds to the confusion :p

My advice always is that if something sounds too good to be true, it probably is. There is no shortcut to riches. Be prudent ya! Anything that advocates understanding of the market and proper money management is probably good.
shadwell
 
Posts: 43
Joined: Wed Oct 03, 2012 2:09 pm

What is the best source to learn forex trading?

Postby anakausuen91 » Wed Mar 20, 2013 7:35 pm

Hey, everyone wants to make money and Forex is the best way for you to make good, decent and even fantastic money but there are certain principles that you must learn about before you go into this full steam ahead. I think what you should do is update yourself about world events, get RSS feeds, get news GPRS fed into your hand phone, get a PDA, get BBC to email you - knowing all about world development will help you get an idea of what currency to back and which not to. I think information is the best strength you can have and when you are able to learn to apply this to the market and predict the market based on these world events, you will be all smarter to start trading in the Forex currency market.

Talk to traders and brokers and try and get some advice from them. Ask them questions that matter, like what makes the Forex market so good, what are its advantages and what are its possible disadvantages. Ask for horror stories and let them know you are completely green about the whole matter, but prudent enough to know that you have to learn a lot more before you start investing. I think researching brokerage companies and trading companies are just some of the methods that you can use (both offline and online) to invest in Forex. Learn about Forex trading software programmes, interfaces, order fills and the many trading platforms that are used widely to trade and invest in the currency exchange market.

Last of all don't rush into things and take your time. The currency market will always be around as long as the foundation of the world is based largely on capitalism and neo-liberal thinking, but the thinking you should have is smart and prepared before you jump into Forex.
anakausuen91
 
Posts: 178
Joined: Mon Jun 25, 2012 5:37 am

What is the best source to learn forex trading?

Postby dobhailen62 » Wed Mar 20, 2013 7:48 pm

First learn the basics so you understand what forex is such as the prices, how you make & lose money, forex terms etc. Don't pay for books that teach basics, you can find plenty of free info on the web about the basics.

Finding a good book that teaches you how to actually trade and how to manage your trades as well as your money is more difficult. Most books are expensive & don't really teach you what you need to know as they are not written by a real trader. They fill the book with fluff just to make money!

See the link at bottom for an affordable book that teaches how to actually trade, manage your money & manage the entire trade.

After you learn the basics, start with a demo account just long enough to learn the platform and to practice your strategies until you get the feel of the market. You will never grow as a trader with a demo, so don't use it for too long. Once comfortable switch to a real account because you will see where you are making mistakes when real money is on the line. Start off SMALL! I would open a micro account with $25 to get the true feeling of using real money. Your true emotions will only show with real money.

After that, practice practice practice! It can sometimes take years to be successful but you can do it if you're determined enough and disciplined!
dobhailen62
 
Posts: 42
Joined: Thu Oct 04, 2012 7:51 am

What is the best source to learn forex trading?

Postby ailbe » Wed Mar 20, 2013 7:49 pm

It all depends on what type of forex trading you are interested. I know only what you can use for forex day trading. It's called Daily Forex Trading System. I was introduced to it when i was on Indian Forex Trading Forum. You can try it and see if you like it. You can find it on the first page of Google and Yahoo when you type in: Daily Forex Trading System.
ailbe
 
Posts: 135
Joined: Tue Jun 26, 2012 3:43 am

What is the best source to learn forex trading?

Postby yissachar » Wed Mar 20, 2013 8:10 pm

search engine will produce several sites that can help.
yissachar
 
Posts: 166
Joined: Mon Jun 25, 2012 3:21 pm


Return to Forex Trading

 


  • Related topics
    Replies
    Views
    Last post
cron