Learning to Forex Trade – Tips for Beginners

I am at the beginning of my journey and am learning how to become a successful forex trader. There is a lot to learn and it has been far more than just the techniques and strategies. I have spent a lot of time reading forex trader tips across the web as well as those given in the Forex Training Works one month course.

I have concluded that there are a lot of individuals and small companies out there trying to sell forex software programmes – but I fail to see how they can really teach people to learn forex trading – or how they can protect themselves from it all going wrong. Genuine beginners and forex fans appear to be the most be genuine – but they are few and far between.. 

For those starting to learn forex in 2010 I hope that you find some of these tips useful:

• It pays to be thorough – make sure that every point or recommendation in the early stages makes sense and that you understand what is being shown to you. I am a great one to “skip over” things and simply read things without necessarily taking them in. If you are also like that, I have found that spending an hour or so learning and practising and then heading off for 15 minutes or so has really helped me to take in the valuable lesson that I have just learned.

• Get a dummy account going and spend as long as you like testing and exploring the system whilst referring to the latest module. When I set up my dummy account and needed to set my daily “Stop Line” I found it much easier to review and change this on the trading screen itself (rather than going into my preferences). In fact I have tried it all – 5 seconds, 10 seconds, 30 seconds – even setting the trade period for up to one day (although that was quite nerve racking!) As well as being the sort of person who skims information when I am presented with a number of new facts, I am also a visual person so I learn far more quickly through trying something out and to top it all is what great fun!

• Move in – now I know this may sound rather inappropriate to some people, but I spend most of my days in front of a computer, feeling comfortable with all the navigation and commands that are at my fingertips. In order to gain a similar level of “comfort” with the my forex trading dummy account, I felt I needed to move in. The Forex online training course from Sid positively encourages one and all to take their time and (as I mentioned earlier in this article) to be thorough. I likened this experience to “moving in” to my future trading screen. After all, if you don’t feel that you have got to grips with the basics, when trading in real money – things could get out of hand.

• Write it down – Sid really ensures that everything is clearly explained: the Sunday calls, the daily mentoring, the videos, the useful articles – it is all so helpful. Mere detail I know, but I have invested in a small notepad from the local supermarket and I am writing notes and tips on areas that aren’t sinking into the old grey matter quickly within this. Every page has the module name that I have learnt at the top along with the date and page number (I know – some may see this as pedantic but I also like to be organised where possible)

All of the above has now put me in good stead to go on to the next section of the course. As I go, I hope to produce a few articles on useful tips that will hopefully aid those learning to trade in Forex. Enjoy the journey!

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