By Danielle Franklin – An essential piece of the forex success is in trading education, forex information and learning materials. Today internet offers large variety of both free and paid trading resources to help out a beginner. Out of all available information, what is useful and what is disorienting? Are there quality free resources or it is worth paying for a trading course right from the start? Can forex forum or blogs be of any help?
Let’s consider the following resources in details:
1. Articles There are plenty of free articles on forex-related websites, which can give you the basic idea about forex and the currency market.
2. Online Tutorials Many websites contain tutorials with in depth information about forex, covering wide range of trading topics – market analysis, charts and indicators, strategies, trading styles, psychological issues, money management, trading plan and much more. Avoid the gurus and experts that claim to know the optimal forex secret for as little as couple of hundred dollars. Not all are scam, however most definitely are, trying to sell fake tracking records, useless automated robots and other worthless trading strategies.
3. Daily Market Analysis Most forex brokers provide daily analysis on their websites, via email, via trading platform or even mobile text message. This forex information is useful to make a decision based on the next possible price direction.
4. Seminars and Webinars There are plenty of online seminars held by brokers and other forex experts all over the internet. These webinars and workshops can be extremely helpful in gaining forex knowledge without paying a cent. Try to search for the seminars and crash courses both online and in the area you live. 5. Forums and Blogs Another way to learn about forex and getting to know other traders is via blogs and forums. Blogs have lots of useful up-to-date trading information and forums have significant resources for beginners, not to mention the great way to get a quick answer for a specific question from other forum members. Unfortunately, not all forums are useful and not every member is a honest, successful trader. Stay away from users who have posted less than 50 posts, from users who tend to advertise some kind of garbage automated software in every other message and stay away from those who promise 100% profits!
6. Demo Accounts It is not a surprise – practice makes perfect. Almost all forex brokers provide free demo practice accounts for beginners. You get virtual money and real market conditions to get to know forex and the selected trading platform.
To summarize, you have to do the homework! Learn to use the charts and indicators. Once you know the basics, you can use the free online resources such as technical and fundamental analysis to help you trade. With the internet today, you can simply put profitable forex trading strategy on your own, follow the trading plan and stay disciplined, and build a successful career as a professional forex trader.
About the Author
Forex Brokers Reviews – Forex brokers reviews and rating, comprehensive forex tutorials and articles, latest forex news and forex blog.
Top Forex Brokers – Top forex brokers reviews, latest bonuses and promotions, free forex tutorial and more.
Forex Forum – All Forex Secrets In One Place!