Effective Ways to Learn Forex

You want to learn forex trading, but you don't know where to start and where to go? Beginner traders are commonly experiencing difficulties in the first trying to understand what and how the forex trading is.

So, how to learn trading in the most effective way?

Stage 1: Learn the basics of the theory from web

According to some experienced traders; the most effective way to learn is by your own. This means that you can learn on your own with the help of web. There are a lot of webs offering explanations or free forex education programs.

Do not worry. Usually they are presenting the learning system stages and are easy to follow with easily understood language and making it more attractive to read. You can choose web with the language you feel more acquainted with you, local language or English.

It would be better if you have a friend (trader) who has more experiences to serve you as mentor. The function of mentor here is as a place to ask and consultation on issues that you face in learning and later in practicing forex trading.

Stage 2: Learning the practice of trading (with virtual account)

The 2nd stage of this can be done while learning the theory, of course, after you possess the most basic knowledge first, for example how to use trading platform. We can learn from web while opening trading platform so we can just try the theory that we read. Obviously we use the virtual account first, so that not too many unnecessary losses.

Stage 3: Constructing trading system (Which is considered the most suitable)

Once you try a variety of indicator, various kinds of system you may read, eventually you will find trading system that you feel the most appropriate. Whether appropriate with psychological condition, financial condition or state of the background of your activities, such as how much time you can spend to do trading without interrupting your regular activities.

All you have to remember is that a trading system will not always suitable for all traders. So you should not imitate someone’s trading system, although the system has been proven to work well. You still have to make adjustments in order to make the system more fitting for you.

Phase 4: Perform trade with live account

Once you find appropriate trading system, start doing trading with live account. At this stage we would start to have in mind, "how much does it take to make a deposit?"

Well, in my opinion, the standard for making a deposit: deposit only on the amount that you prepared to lose. Never make a deposit with funds that actually already designated for another thing.

Stage 5: Continue to learn

Although you have learned and previous success with virtual account, it is not a guarantee that you will be immediately successful also in live account. However, experience is very influential in trading skills, especially to form the mental and positive psychology to be a reliable trader.

Keep learning, trying, and learn ... and so on. And certainly, do not give up!
Join with the trader community where its members can provide mutual support, both spirit support as well as sharing the technical problems so that you feel "a friend" for discussion. In the community, you will be expected to re-learn and try enthusiastically.

Happy Learning & Trading

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