With Forex trading being such a lucrative business, more and more people want to get into it and require training in order to become skilled enough to trade. There are two main methods to learn Forex trading, traditional book learning and live training. Each has its good and bad points.
The traditional way to learn Forex trading is via textbook. Some people learn very well with this method and can translate the written word into something that works in the real world, though many find this very difficult to do.
I don't mean to dismiss the value of a book for learning about the Forex market. It does have a value as a point of reference. Once you understand trading, you will be able to relate to information within a book more easily. Where a book fails, is in dealing with unexpected circumstances.
Using a book, there is no way to cover every situation that the Forex market may throw at you. For example you won't find a chapter called "what to do when an interest rate, statement, and the NFP come in the same week, during a week when commodities are falling fast, and the fed just did an emergency rate cut".
The other option for learning Forex trading is to do so in a live trading situation, with a mentor to guide you every step of the way. Most people find this is a good way to cement the knowledge into their heads, because they can see the actual techniques being played out and working, right in front of their eyes. Also, more people learn from doing than learn from reading, so in this case, it may be best to learn.
Trading in a live market, gives you the advantage of real world situations. But trading a live market alone, will probably leave you pretty stressed out. By using the services of a live mentor, you can avoid much of that stress, and more importantly avoid making costly mistakes.
What better way to learn Forex than to have an experienced trader right there with you. This author would have paid thousands of dollars to get that experience at my fingertips.
Regardless of your personal learning style, you will find it very advantageous to learn in a real world situation. It is much easier to translate the knowledge, into reality, when you see it in action.
The traditional way to learn Forex trading is via textbook. Some people learn very well with this method and can translate the written word into something that works in the real world, though many find this very difficult to do.
I don't mean to dismiss the value of a book for learning about the Forex market. It does have a value as a point of reference. Once you understand trading, you will be able to relate to information within a book more easily. Where a book fails, is in dealing with unexpected circumstances.
Using a book, there is no way to cover every situation that the Forex market may throw at you. For example you won't find a chapter called "what to do when an interest rate, statement, and the NFP come in the same week, during a week when commodities are falling fast, and the fed just did an emergency rate cut".
The other option for learning Forex trading is to do so in a live trading situation, with a mentor to guide you every step of the way. Most people find this is a good way to cement the knowledge into their heads, because they can see the actual techniques being played out and working, right in front of their eyes. Also, more people learn from doing than learn from reading, so in this case, it may be best to learn.
Trading in a live market, gives you the advantage of real world situations. But trading a live market alone, will probably leave you pretty stressed out. By using the services of a live mentor, you can avoid much of that stress, and more importantly avoid making costly mistakes.
What better way to learn Forex than to have an experienced trader right there with you. This author would have paid thousands of dollars to get that experience at my fingertips.
Regardless of your personal learning style, you will find it very advantageous to learn in a real world situation. It is much easier to translate the knowledge, into reality, when you see it in action.
About the Author:
Join other like minded traders who have finally started to Learn Forex trading in a way that works. If trading has been difficult for you, I invite you to Learn Forex with a live mentor starting today. Don't reprint this exact article. Instead, reprint a free unique content version of this same article.
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