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 asses when to enter a currency based on the direction it is taking, and how to forecast its direction for the near future.
Trainig with Easy-Forex
Easy-Forex offers one of the most effective forms of training through hands on 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 succesful trading strategies. Discover how the Forex market offers more opportunities for quick financial gains than almost any other market.
The many available resources and tools to train yourself
There are many free tools and resources available in the market, particularly online. Among these, you will find;
There are many kinds of charts. 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. Make an effort to determine the general magnitude of each change on the chart.
Most platforms provide guided tours, demos or tutorials, either online or via download.
News / breaking news
Keep abreast of world news. Read all the headlines, particularly those directly related to Forex. Check the impact of such news, if any, on the charts.
Read 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 decision.
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...
Follow the indices of the leading markets. Compare them to the changes in the Forex market, as well as to changes in particular currency pairs.
Pay attention to the release of economic indicators , and try to identify their impact on the market in general , and on specific currency pairs in particular.
Don't hesitate to browse Forex glossaries , which are offered free on many platforms. A given word may have different meaning is 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 parts of a client recruitment process by a given platform ; many are, neverthelles, worth attending. Educational courses are offered online and by many post-secondary institutions.
Read, 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 / blogs
Visit 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.
So much to consider...
To succed as a Forex trader , you must take into consideration a wide variety of factors such as:
- 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 trading. The training goal is to each 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 idea
Many 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 learning, so "demo" accounts tend to have little educational value. Rather, Easy Forex allows you to start trading with just $100, 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.