There are 100s of forex trading courses available and these are available all over the internet and also offline conducted by many traders. In fact, there is such a huge number and variety that it is pretty common for anyone to get easily confused over which one is better and what one should take as far as a forex course is concerned. There are also different types of courses according to the level of expertise that you have in FX.
There are courses for beginners and there are courses for intermediate and professionals as well. Though it may come as a surprise that professionals would need courses and training, it is indeed true as learning in trading has no end. The market keeps changing daily, new instruments come in and so do new opportunities. The trader needs to keep abreast of all these developments so that he can be aware of such new and changed circumstances and can tune his trading and his skills accordingly. The day that he stops doing this would be the day that he begins to fail.
The Best Way to Learn to Trade Forex
There is no strict manner that you need to learn forex trading. It is generally believed that you can follow a course that suits your style and mindset. But do treat your learning like how you treat any other form of education. Just like how you start with the basics in kindergarten and you learn the ropes, start with the very basic stuff in FX and then move on to the progressively difficult topics.
But even this kind of learning is something that can be done in various ways. Many like to learn things online and do that at their own pace. They may be going to work from morning till evening or attending college and hence would like to learn at that own pace so that it doesn’t disturb their work or studies. While others look for training for forex trading from someone online or offline as they don’t feel confident of learning it themselves or cannot make much progress with their trading skills acquired online.
So everyone can start with the foreign exchange beginner course either online or offline and then use that as a start to build it up. It is important to remember that there might be an urge to learn more about trading and so move on to the intermediate stage quickly but each stage should have a gap so that you can put the learning into practice and whether there has been any progress in your trading skills.
This last part is very important as you need to do a periodic assessment of your trading skills and see whether there has been any progress in that. If you do not see any visible improvement either in terms of profits or in the way that you are trading, then it might be time for you to take a step back and try a different trading strategy or discuss with other forex traders and see where you are going wrong. Only if you are confident of having made progress, should you go towards the next step of learning.
As you can see, this type of learning is a slow and steady process that is likely to take a lot of time but in most cases, this is the way that you need to learn forex trading. You need to remember that your school education takes you more than 15 years and so there is nothing wrong if you can spend an equivalent time for trading or more so that you can be successful in it.
How We Chose the Best Online Forex Trading Classes
As said before, there are 100 courses and classes online and it is really difficult to choose which ones to go to. Of course, it is always better to use the usual tactics that we choose to pick a product online. We can see the reviews that the course or class has got over the years, see how long it has been around, who is conducting it, what are his credentials, how genuine are the reviews, and what are the ratings that have been given by those who attended the class. With all these details in the bag, we will be able to come to a conclusion on which class to attend. But rather than going for one immediately, it is better that you shortlist a few to choose from. That way you will be able to evaluate them and come to a conclusion.
Take another look into the shortlisted ones and see why you have to eliminate those that you do and see whether you would be able to glean any further information about them. You can also try and contact those who take the classes and ask them whether they would be able to give you a free session or two to evaluate them. A few likely agree and few don’t but that is just a roll of the dice. If you feel confident about a specific class and if you can cross-verify that, then it would be the right time to go ahead and enroll in it.
Of course, with the proliferation of trading, there are a lot of scams out there and even those who have been trading and learning for 1 or 2 years consider themselves as gurus and they launch classes in the hope of making some good and quick money. There are many such gurus and you need to choose the right one. You should also be aware of the methodology used for such classes and what medium they use to impart this training and whether it is one-on-one or whether it is one-to-many which may lead to you getting less attention than what you need. All these factors should be considered before you make a decision.
Can Novices Self-Study to Learn Forex Trading?
They can! There have been several novices who have done self-study to learn to trade and gone on to become successful traders and they are shining examples of how to learn to trade forex for beginners. As we keep saying, again and again, there is no fixed method or the fixed way in which forex trading is to be learned. It can be learned in any way. Just that some ways work in a better manner than others and some ways work well for certain traders while others do not. So just as there is no specific way to gain knowledge, there is no specific step-by-step procedure for you to learn trading.
For beginners, ask yourself the question ‘how do I learn forex trading? it is important to first understand your strengths and weaknesses, only then will you be able to focus on the weaknesses and build on your strengths so that you can improve on your trading skills. This can be achieved through self-study as well and this can be a mix of studying on the internet using text or discussion forums or videos as well. You can also use trading books to improve your knowledge and build on your skills and this way, the novices would be able to grow their trading skills and prepare themselves for the rigors of trading as time goes on. But as said earlier, it is important to have checkpoints in your learning where you stop the learning and try your hand in trading practically with a demo account and see how you fare. Try to utilize the knowledge that you had gained till that time and trade the currency pairs that you are comfortable with and see whether you can implement all the skills that you had learned so far.
If the trader can do that, then it is probably time for him to move on to the next set of lessons and skills that he needs to be building and this process needs to be repaired over and over again. The trader needs to learn well about forex trading and this would keep building throughout the learning process and would be useful in the long run whenever he feels good enough to start trading on a real account. Till the trader can gain that confidence, the trader would be better off trading in his demo account and he can take as long as he needs to keep trading on that account and see if his trading strategies are suitable for all kinds of market and if not, he can also learn how to tweak his trading strategies so that it would be suitable for the changing market conditions over a period of time. All this training and knowledge would be useful as he makes himself a better trader every step of the way and this is what the trader should be striving for.
Our Picks for the Best Forex Courses
As we had said, there are lots of courses out there but we will list a few which by no means is an endorsement of how good or bad they are. It is just a list of some courses to get you started and you need to do your own due diligence over a period of time and find out those that you are comfortable with and that suit your style of learning.
How to Find the Strongest Trading Trends
This course is by Raghee Horner who is known for her strong trading skills and she claims to be able to catch the strongest trends in a highly consistent manner and she has been able to do that over a long period of time. This is one of the important forex trading lessons for beginners. It was then that she decided to put together a course for those people who want to learn forex trading and she has been giving out her course recordings at a discount in recent times.
Asia Forex Mentor: One Core Program
This course is by Ezekiel Chew who is also a renowned trader and analyst himself. He is known to be making a six-figure income through forex trading though no details of the trading data have been given out as yet. His course is considered to be one of the best in the business and the bonus is the fact that there are no videos or presentations or any such fluff and the participants of the course would be able to delve right into the real world strategies that work.
Forex Trading Coach
This is a course by Andrew Mitchem and one of the key aspects that sets this course apart from the others is the focus on risk management. Any experienced trader would tell you that risk management is the key for any successful trader and that is much more important than having a profitable trading strategy. Managing the risk keeps you in the trading business for much longer and the more time you spend in this business, the better is the chance of your success in the long run.
He also advises the traders to spend less time trading and spend more of their time taking care of their work and live their life as ultimately, everyone would want a successful trading career to be able to live a good life and experience life. The course also claims to work on your mindset as Andrew would dedicate a separate part of the course to dealing with the mind and the associated emotions while trading.
Zen Trading Strategies
This course is for those who want to create and build their own trading algorithms so that it would be useful for them to remove the emotions from their trading. More and more of the trading in the forex world has started revolving around robot trading and now we are seeing even retail traders realize the importance of automating their trading strategies so that they can go about their work when the robots trade.
With this in mind, the course claims to be able to guide the traders to come up with good profitable algorithms and also teach them how to automate these algorithms so that the programs and the robots do all the heavy lifting in the long run. There is also a Telegram group for the users of the course and this would be helpful for discussions and support which the subscribers would be able to use the group for.
The above is a very short and generic list of courses that beginners in the forex trading world would be able to utilize for their benefit through self-study and self-motivation to become the best trader that one can be, would be the key for the success for any trader. There are 1000s of ways of doing anything for that matter and trading is not any different. You need to find which course and class suit you and do your due diligence to find the same. Once you have done that, stick to it and try and get the best juice out of the course so that it would be helpful for you to grow your trading skills. This takes time and effort but if you are not lazy to put in that kind of effort then that is half the work done for you and the other half is to just push on with your learning.