How to Learn To Trade Forex in the Shortest Possible Time

If you are aiming to get into currency trading, you should first learn to trade forex. Of course, when you are doing capital investments, you should initially at least know how to open and close transactions. In foreign exchange trading, dealing makes no difference and so you have to make sure you are knowledgeable and well rounded about transactions.

How could you learn to trade forex? Basically, there are many means on how you could learn currency trading. Before taking any measure, it would be important to note that indeed, you should open your mind to learn about dealing such transactions. You could take crash courses at several centers, you could take tutorials and hands on learning sessions with your willing brokers or you could simply learn by yourself.

It is not impossible to learn to trade forex by yourself. Prior to making any moves, it would be imperative that you first understand that foreign exchange is quite an easy concept if you would only get to comprehend how the system and the processes work. To learn by yourself, you could opt to educate yourself through books, online tutorials and even self-help videos. Scout the market for self-help learning materials in print and in videos. There are also online learning sites that provide effective guides and learning sessions.

If you could enroll in specific courses for forex trading, it would be more advisable. You do not need to be confined to learning in long durations. These days, there are actual crash courses that would only require you to spend a few hours each day for a limited period of time to get to know and understand the transactions better. Nowadays, some of such courses are also offered through distance learning, meaning, facilitators would send you modules for self learning and then guide you in making use of such materials.

Lastly, as mentioned, using the resourcefulness and knowledge of your forex broker is one way how you could learn to trade forex. You could always ask your broker to explain to you the dynamic of the trade. By paying attention, you would realize that through simplified explanations by your broker, you could actually learn how trading is done and closed. Thus, informally, you are learning. It is also more like a more hands-on and actual training.

If you are aiming to grow your capital, you should strive to understand well how currency is traded. Learn to trade forex and see how you could make your investment further attain its potential.



Source by Davion Wong

Forex Trading Secrets – These Traders Made Millions, Quickly Learn Their Secret

In this article, we will study a group of novice traders, who had two weeks training and then went on to make millions in profit. You may not make millions but if you see how they made money, you will see how you can enjoy Forex trading success.

Richard Dennis was a well known trader who had made millions but he was very modest and claimed anyone could be a successful trader providing, they had the right method and mindset so he set himself a challenge:

To teach a group of people, with no experience to trade in just 14 days and these people would be both sexes, all ages and of a varying intelligence. The group was a good mix and contained an actor, a security guard and a female accounts clerk to name just a few.

After their training, they started trading and started piling up triple digit gains and went on in a period of 4 years to make hundreds of millions of Forex profits. So what was the secret of their success? I have summarized the key points behind their success below and some of them may surprise you so here they are:

The Best Forex Strategies are Always Simple

The best strategies are simple and use technical levels to enter trades. The trading system taught, was so easy to learn it took just a couple of weeks. Being clever or working hard on a trading system, doesn’t guarantee success so keep it simple and you can win.

No Prediction is Needed to Make Money

Despite what many gurus will tell you – Forex prices cannot be predicted! If you want to make money you simply trade price action and watch for confirmation of trend changes. The strategy used was based on trading breakouts and traded long term trends which is always going to make money.

Money Management – Losses Don’t Matter the Size of Them Does!

The system lost over 70% of all trades placed but the strict money management rules meant, they were always small. On the other hand, the big profits were run for weeks or months and covered the losses, giving the traders great long term profits.

Forget the people who tell you, that you can win over 90% of the time – its a lie. Most of the successful traders in the world, win less than half their trades but that doesn’t matter, because use proper risk control to cut losses and run profits.

The Key Factor for Success – Your Mindset

It’s simple – If you don’t trade with discipline you won’t make money. Let your emotions get involved and you will run losses which will end up with your account being wiped out. The traders in the group, had no problems learning the system or understanding why it worked – but they all found following the strategy with discipline the hardest part however they knew, that’s what they had to do to win and their discipline was rewarded.

Can You Become a Successful Forex Trader?

Yes you can, as you can see from the above story but the one key point to keep in mind is its not learning a method which can beat the market which is the key to FX trading success, its adopting the right mindset.

Sounds simple?

It is and it’s the true secret of currency trading success – understand it and you can make a lot of money trading global Forex.



Source by Kelly Price