How To learn About Forex Trading Properly

steven evans By steven evans, 12th Nov 2013 | Follow this author | RSS Feed | Short URL http://nut.bz/tgmfx0-0/
Posted in Wikinut>Money>Forex Trading

For Forex Trader, learning about forex will be important because that's how they can make money through forex. Find out how to learn forex in this article.

Why learn about forex will be important for forex trader

In forex you can get profit or losing the money since it's very risky business. However, an experienced forex trader can make profit easily by following the market movement. The reason about how they can do it is because they already learn about market movement and they already know about market characteristic. With having a lot of experience about market movement then getting a lot of profit will be easier because they already know when is the right time to trade, when they need to stop trading, and when they need to avoid market.

Knowing about market condition also will be an important part in forex. Most of forex traders failed in this business because they don't know the right time to trade. The other reason which make the trader failed is because they still have a wrong open position while trading. It can be avoided if they already learn about forex and they already know a good timing to trade so they don't need to losing their forex capital due wrong market prediction. If they already learn how to trade properly then the risk in forex will be reduced.

Where to learn about forex trading

I can recommend 2 ways if you really want to learn about forex. You can try to participating in forex forum or watching forex video. Both method to learn forex are free and you don't need to pay anything if you want learn about forex. Below I will describe about participating in forex forum and how to learn about forex from watching the forex video. Actually there is another way to learn about forex, perhaps I will talk about that in another article.

Participating In Forex Forum

The first place to learn about forex trading properly is forex forum. It's a place when a lot of traders with different background and different trading experience gathered. There are a lot of thread which will talking about forex and you can participate in their discussion. Ask them the question if you still don't know about anything, don't be shy because that's why forex forum exist. If you want to get faster answer then just use search function in the forum, who knows other people already asking about same question in the past so you don't need to ask about similar things.

In most of forex forum you can find beginner section and trading strategy section. Forex beginner section will be provided with most useful information for newbies in forex. Don't forget to read this forum section because it's about forex basic so you will know how to start to be a good forex trader step by step. Again, you can ask about anything you don't know about forex and it's the right place to asking about forex basic.

If you already know about some of forex basic then the next step is to learn about trading strategy. Trading strategy is about how you make money in forex. Having a profitable trading strategy will help the forex trader to get a lot of pips in their trade. Sometime it will be better to test the trading strategy before you use it in real account because a profitable for someone is not always fit for other people. Just use a trading strategy which fit with yourself depend on your trading style.

Watching Forex Video

If you browse Youtube, dailymotion, or any other site which provide video streaming service then you can easily find forex video. Watching forex video is a good way to learn about forex since it will provide audio and visual information related to forex. People will be easier to understand if they are watching video because usually it also provided with an example too.

Make sure you don't forget to test the forex strategy that you get from forex video because there is no guarantee if the forex video will teach you a good trading strategy in forex. Remember even a newbie in forex also able to upload any video in forex and you may getting wrong information about how to trade properly in forex. In this case, live trading in demo account will help you to know if the trading strategy is good or not. if it's not good then don't follow the trading method and just find another forex video to learn forex.

My Another article about forex

Thanks for reading this article. If you are interested in forex and you want to make money from being forex trader then perhaps you will be interested to read my other articles about forex.

Forex Trading Contest
A Profitable Forex EA
Exness Review - Scam?
How To Make Consistent Profit in Forex
Why Forex Trader Always Trading Everyday
How to Start Forex Without Using Your Own Money
Why Forex Trader Good in Demo Account but Failed in Real Account
How To Make Money In Forex

Tags

Currency, Forex, Forex Investment, Forex Market, Forex Trade, Forex Trade Currency, Forex Trading, Forex Trading System, Learn Forex

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author avatar steven evans
just an ordinary man with an extra-ordinary mind.

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Comments

author avatar Retired
13th Nov 2013 (#)

forex trading has turned into a big scam which is run online by many websites-unregulated as they are-their modus operandi- client enters into a CFD and cannot watch it 24 hours-when he is not-then manipulate trading data to make him loose his money-many criminal webistes -with fake registration details are running on internet. Internet is full of complaints against such websites. They have looted millions of dollars from unwary clients-iforex is one of them-they lure clients showing them pictures of well dressed male or females with messages like " in my spare time I earned $2000-you can also do so" clients registers then they ask him to deposit money in forex-which is banned in Asian countries like India. After they deposit they ask them to trade and then loot their money as indicated above.These financial criminals are escaping interpol and various police authorities due to lack of any concerted complaint against them-please see an article on iforex here for more information

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author avatar Retired
13th Nov 2013 (#)

otherwise trading at a legitimate website is not difficult to learn-question is how many such websites are legitimate-in my experience most seem to be financial criminals like iforex. In one of the iforex forums-which you are recommending to join-one ex iforex employee revealed to public as to how iforex manipulates the market data to rup 'opposite' to the deals of the customers-their backoffice and so called call centers are busy doing just that- so be aware before any particular forex trading website is recommended

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