What’s the best way to learn forex trading as a beginner?

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What’s the best way to learn forex trading as a beginner?

AmandaW Answered question June 25, 2019

There’s no one-size-fits-all path to learning about Forex. There is so much to learn that it will take you years to master it all. As a complete beginner, your first step would be to gain a fundamental understanding of the Forex market and how it works. Here’s a rough idea of the steps I’d recommend you go through:

Step 1: Learn the basics
First, read as much as you can. Start with comprehensive ebooks that explain all the key fundamentals. I’ve heard good things about the forex trading for beginners pdf by Forex Illustrated, so start there.

Step 2: Devise a strategy
Different traders have different strategies and trading styles. These strategies are often based on technical and fundamental analysis. Learn about common trading methodologies like pivot points, elliot waves, and Fibonacci studies and then use these to inform your own trading strategy.

Step 3: Practice
Once you’ve got a solid foundation, try your hand at a virtual trading game like Forex Hero to practice and put your knowledge to the test. You’ll end up learning more as you go.

Charlie Boettcher Answered question June 13, 2019
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