Understanding the nuances of the Forex market requires experience and training, but is critical to success. In fact, ongoing learning is as important to the veteran trader as it is to the beginner. The foreign currency market is massive, and the key to success is knowledge. Through training, observation and practice, you can learn how to identify and understand where the Forex market is going, and what controls that direction.
To invest in the right currencies at the right time in a large, nonstop and global trading arena, there is much to learn. Forex markets move quickly and can take new directions from moment to moment. Forex training helps you assess when to enter a currency based on the direction it is taking, and how to forecast its direction for the near future.
Training with Easy-Forex™Easy-Forex™ offers one of the most effective forms of training through handson experience. For as little as USD 25 at risk per trade, you can start trading while learning in real-time. Easy-Forex™ strongly recommends starting with very small volumes, and depositing an amount to cover a series of trades. Learn the basics of the foreign exchange market, trading terminology, advanced technical analysis, and how to develop successful trading strategies. Discover how the Forex market offers more opportunities for quick financial gains than almost any other market.
To learn more about the trading advantages of Easy-Forex™, join Easy-Forex™ (registration is quick and free, no obligation)
The many available resources and tools to train yourself There are many kinds of charts (see Chapter 6, Technical Analysis). Start with simple charts. Try to identify trends and major changes, and try to relate them to technical patterns as well as to macro events (news, either financial or political). Make an effort to determine the general magnitude of each change on the chart (meaning: what is the $ value of the change, if you were trading at that point).
Guided toursRead daily/weekly outlooks posted on Forex or general financial sites. Many include alerts to upcoming reports and events such as market indicators and interest rate decisions.
To read today’s professional outlook and view detailed charts, join EasyForex™ (registration is quick and free, no obligation):
www.Easy-Forex.com
Forecasts Read forecasts, some of which are available free of charge. Bear in mind that forecasts and predictions are made by people, none of whom can guarantee the occurrence of future events…
IndicesFollow the indices of the leading markets (e.g. Dow-Jones, NASDAQ; Nikkei; etc.). Compare them to the changes in the Forex market, as well as to changes in particular currency pairs.
Economic indicatorsPay attention to the release of economic indicators (for example – the monthly unemployment rate in the USA), and try to identify their impact on the market in general, and on specific currency pairs in particular.
GlossaryDon’t hesitate to browse Forex glossaries, which are offered free on many platforms. A given word may have different meaning as it relates to Forex and to the terminology used by the Forex market participants.
Seminars and courses
Try to attend professional Forex seminars. Some seminars are offered free, often as part of a client recruitment process by a given platform; many are, nevertheless, worth attending. Educational courses are offered online and by many post-secondary institutions.
Forex booksRead, or even just browse. Many books are offered free, or as part of a service package to the trader. For many, historical background and technical analysis are topics better covered in books than in an educational setting.
Internet forums / blogsVisit and participate in Forex forums. This gives you an opportunity to learn from the experience of others. Of course, remember that some forum participants may be biased, promoting a given Forex platform or their own agenda.
No commissions? How about profit withdrawal fees?
(No hidden costs at Easy-Forex™. Join and trade without banking costs or other indirect costs. Read more: www.Easy-Forex.com/ - Spreads and Commissions)
So much to consider… • spread (“pips”);
• commissions and fees;
• ease of access to the trading platform;
• minimum amounts needed for trading;
• additional amounts needed (if any);
• control over activity and positions;
• the platform software requirements;
• ease of deposits and withdrawals;
• personal service and support provided by the platform;
• the platform’s business partners;
• the platform’s management, offices and outreach;
• the products offered onboard the platform; and many others.
Easy-Forex™ is dedicated to educating its customers. Customers can access FREE one-on-one online training. The training goal is to teach people specific strategies for trading currencies over the internet. Both novice investors and expert day traders have benefited from the training provided by Easy-Forex™.
The “demo” account ideaMany Forex platforms offer new registrants a “demo” account. A typical example would provide 10,000 “demo” dollars that can be “traded” as a means of learning how to succeed in Forex.
Easy-Forex™ does not offer “demo” accounts. Coming to understand that reason must rule over emotion is the most important lesson a trader can learn, and it cannot be done with play money. If there is no consequence to indulging in emotional responses to the market, there is no learning, so “demo” accounts tend to have little educational value. Rather, Easy-Forex™ allows you to start trading with just $50, including full access to one-on-one training. New registrants are thus able to garner both an educational and experiential benefit unavailable through simulated situations.
To get personal assistance and free training,