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?

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I would always recommend going through some reading material before you take any further steps. Investopedia is a great resource for beginners. You need to be familiar with the environment and the terms used in the trading community. Once you get a grip on the basics you can move to simulations like this stock trading game. It is very important to start with simulation first. Here is why:

Once you are done with the basics you will be under the impression that trading is easy and you are ready for the real thing but no one can teach you how to control your emotions. We are all human and, like it or not, greed is a fundamental part of our nature. Once a stock starts going up you will probably FOMO and risk losing a big chunk of your capital on a short term price surge. Simulations are great for practicing control because you will be trading in the same environment as the pros but with no risk of losing your starting capital.

Start slow and don’t believe the “get ready to quit your 9 to 5 in a month” stories. Trading is stressful, time-consuming and risky. Take it step by step and be patient.

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