Self-training
How do I learn to trade forex myself? Self-study can be quite successful. But you have to understand right away that it’s gonna take a long time. Now a beginner trader has a wide range of training materials at his disposal. These are articles, books, videos. I would also include the trader forums here. Reading messages from experienced traders and the ability to ask your question will help you get through this path faster.
Start by learning all the basic concepts related to trading. It is necessary for understanding the articles and training tests concerning trading.
Next, we need to get acquainted with the trading terminal. The vast majority of traders trade in metatrader 4. This program is so convenient for trading that I personally do not see any sense in looking for another one. A novice trader should know as much as possible about MT4 functions to feel confident in the terminal.
Well, after these two steps have been passed, we can proceed to a very important stage – the creation of our own trading strategy. To start with, you can use one of the ready-made vehicles to gain trading experience. And then you should try to optimize the system or create a new strategy using the knowledge and experience gained. But you have to do it all on a demo account. And only after the positive statistics of trading on the TS for a long period of time will be received, you can proceed to earnings on a real trading account.
Assistance from experienced traders
For those who find it difficult to organize the process of learning to trade on the Forex market independently, this option will do better. Traders with extensive trading experience can create and offer competent training courses. They are built in such a way that a newcomer to the market will receive the necessary knowledge in the shortest possible time. Moreover, some of the authors of the course continue to work with their students for some time, giving them advice on practical trade and answering questions. Which, of course, is a great advantage over self-study. Trading has a lot of seemingly insignificant nuances. But in fact, they can have a major impact on trading results. An experienced trader shares with his students similar observations of the market. The only drawback of this method of trade training is that it requires a lot of money, because quality courses are always paid for.
To decide for yourself “how to learn how to trade forex”, you need to evaluate both options and choose a more appropriate one. In doing so, it is necessary to take into account individual characteristics, material opportunities and the initial level of financial literacy.