How to Learn Forex Trading in One Month
So, you want to learn forex trading in one month? We've got some great news for you, it’s definitely achievable. You can learn a lot about forex trading in one month and even get you to a point where you are placing successful trades yourself and making money.
In this article, we're going to explain what you need to do to learn forex trading in one month, we're going to give you access to the free course that's going to help you do this and explain why there is more to forex trading than simply learning how to do it.
Take a free forex trading course on www.trading-education.com
This course will give you all the information you need to start trading in just one month. It's broken down into several chapters for you to easily learn, understand and remember all the important information you need to start trading in this exciting investment field.
After each chapter, you will be provided with a quiz. Once you’ve passed the assessment with a score of 80% or more, you will be able to move on to the next chapter. At the same time, we’re ensuring you don’t get overloaded with information by implementing a compulsory break between the chapters. This way also ensures you learn at a suitable pace that will improve your chances of becoming a successful forex trader.
The chapters included in the free forex course are:
Foundation in forex
This includes why you should learn forex trading and how it can benefit your career. It will also introduce you to key dates in the economic calendar and the important players you will need to watch out for. There will also be a lot of information about what it takes to become a successful forex trader.
Mechanics of forex
This chapter goes into more detail about how forex works. This chapter is one of the most important learning points in the free forex course. If you can understand the mechanics of forex early on, it will make later learning much easier. It will also help you to start trading quickly after taking the first course and succeed with your trades.
Advanced analysis in forex
The third chapter will give you information about how you can better manage your analysis of the current forex market. With the information contained within this chapter, you will be able to notice when the best times to make trades are, helping you to earn more profit from your trades and ensure you aren’t missing out on opportunities that those without experience and training are getting.
Strategy trading for forex
The final chapter in the free forex course is about getting you to trade like a professional through the development of strong strategies. Those with forex trading strategies will usually earn more profit and have a longer, more successful trading career.
When you’ve completed all four of these chapters, you’ll receive a certificate of completion.
Anyone can take our how to learn forex trading in one-month free course; whether you are an experienced forex trader or completely new to the concept. Over 40,000 people have already successfully completed the course and you could be the next successful trader thanks to the skills we teach.
The course is designed to be taken by anyone, anywhere. So, while we welcome you to come to our office, and we would love to meet you, we offer the training materials as a set of learning videos and PDFs. Therefore, you can actually take the course at home, cafe or your current workplace whenever you want. You can also keep the learning materials and refer back to them if you need a reminder at any time.
Once, you’ve completed the forex course, you are free to continue your forex trading training. There are many ways you can continue your education including webinars, videos, new forex trading courses and seminars. These can really help you hone your skills as a trader and help you improve your profits.
As part of the course, you will learn, in detail, all of the points below as well as some other important aspects to start a successful forex trading career. Here is some more information on what you will learn during the free forex course in just one month.
Open a trading account
You'll need to open a trading account. It is highly recommended that you don't open a demo account because they don’t offer you a realistic environment in which to test your skills. Therefore, you can’t experience the real emotional and psychological experiences of forex trading.
Many people who have traded in demo accounts and live accounts have felt that their decisions, emotions and even psychology is completely different on the demo account. This is because there is no risk, so if you make mistakes, it doesn’t matter.
While no-risk sounds really good, in reality, it also means no benefits. The profits you earn in a demo account aren’t real and therefore you gain nothing for your activities. If there is no money to be made from your activities, why do them?
After a successful trade and good profits on a live account, you’ll feel excitement and exhilaration. It will drive you to push for even more trades and try to beat your previous success. You’ll never get this on a demo account.
Understand different types of analysis
You can use three different types of analysis: technical, fundamental and sentiment analysis. While there is a constant argument about which one is better for the greatest profits and success, it's best to learn all three for a successful career as a forex trader.
Technical analysis is simply looking at the current market and comparing it to historical trends. The idea is that history will repeat itself and you should be able to predict movements in the market based on certain amounts of information.
Fundamental analysis is about looking at the supply and demand of a currency and determining whether this will drive prices and lower them. The supply or demand of the currency can be affected by political, social and economic factors and it is these you will analyse.
Sentiment analysis is learning to trust your gut instinct about the market and learning to judge for yourself whether a currency is going to be in demand or not.
When you trade on the live market, you need to use all three types of analysis to help you make the best decisions. If you don’t have a good understanding of any of the types of analysis, or you ignore a certain type, there is a high probability that your profits will be lower or you could make a loss on your trading.
When you take our free forex course, you will learn these.
Have a trading plan
When you start forex trading, it's better to have a plan. You need to know when you will start looking at certain trading and when you will not. A plan will help focus your efforts in achieving success and allow you to reap the greatest profits. There are many different trading plans you can create, and the most successful forex traders have their own unique plans that make them a success.
While you might develop one of the best forex trading plans in the world, there are going to be times when it won’t work. This is why you need to ensure you have a risk management plan for your trading career. Without a good risk management system, you could lose everything.
There are lots of ways that you can reduce the risk to your forex trading. This can include minimising your trade lot size, not trading at certain times of the day or hours, hedging, and knowing when you should take a loss.
By understanding these concepts and implementing them correctly, you’ll always be able to keep your trading career going from strength to strength. You’ll also be performing much better than the majority of new forex traders who ignore risk management and instead target big profits at the highest risk. For some, it works, but many will lose everything and never trade again.
You might also like: What Is the Importance of Risk Management in Forex Trading?
Forex trading is exciting but you will need to control your emotions to a certain degree to be successful. There is also a lot of psychology involved in trading. There will be highs and lows and you can make mistakes if you let your emotions run your decisions. You need a clear head to look at scenarios and develop trading plans for success.
At the same time, many traders will quit after they suffer a few setbacks. But this is normal during the career of any successful forex trader. If you let a bad trade affect your performance, your future moves will be hindered and you could make further losses.
All of these points above, and more, will be covered in full, during our free forex trading course. So if you want to know more about how to learn forex trading in one month, then take our free course.
Don't miss: Meet 5 of The Richest Traders in The World
If you enjoyed reading this article from Trading Education please give it a like and share with anyone else you think it may be of interest too.