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Forex Education

  • #61
  • Feb 16, 2021 1:55am Feb 16, 2021 1:55am
Hi, everyone. I am new in forex trading. I need some best websites where I can learn forex and know more about forex markets. Can anyone suggest me the best way to learn forex?
  • #62
  • Feb 18, 2021 9:56am Feb 18, 2021 9:56am
Quoting dinko74
Hi All, Any idea which books or any other resources i can use to learn how other Markets impact over Forex Market.I see some traders use USD Index or S/P 500 to help there trading decision. Thanks

  1. Babypips.com for all general forex education
  2. Youtube for learning actual trading. But beware of Charlatans and scammers.
  3. Ebooks

    1. Uncharted Stratagems: Unknown Depths of Forex Trading
    2. Forex Backdoor: A 3-Step Down-low Razor-Sharp Guide To 0.5% Profit Per Day


Good luck!

  • #63
  • Feb 18, 2021 9:53pm Feb 18, 2021 9:53pm
Quoting kazitanzib
Hi, everyone. I am new in forex trading. I need some best websites where I can learn forex and know more about forex markets. Can anyone suggest me the best way to learn forex?
Hi kazitanzib,

I was in your shoe once. Really nice website to start with is babypips.com. From there, you can follow classes by classes, they are all free. Go through them, then find a reliable signal group and mentorship. Join their discussion every trading session and ask a lot of question. Ask them even if it sounds stupid. I dont really like forum style cause usually it take days for people to respond to you. In my discord, we can discuss and reply to queries immediately.

Also, these are my personal golden rules (taken from my private discord channel)
Golden Rules
- Accept that you will be wrong. Take the loss and learn from it.
- Accept that you will lose, even if you're right. Stick to your rules.
- Be disciplined. Keep to your rules. Keep emotions away.
- Capital preservation is important. Keep your risk consistent. If you risk 1% of your capital, then keep it constant. If you risk 3% of your capital, keep it constant too.
- If you're worried about how much you're going to lose, reduce your risk. You're risking too much now.
- No should've / could've / if only. I would have been a millionaire by now.
- Overtrading doesn't mean higher return.
- Risk management is important.
- React; Do not predict where the price will go. Let the market tell you where the price will go.
- Strategies based on luck is not consistent.
- There is always another setup. If you miss this one, wait for a re-entry or just close your charts. Do not enter at a bad price.
- Treat your results in terms of % and not monetary value. My $1,000 a trade risk could be 1% of my capital, but 10% of yours.
- You will miss a lot of winning trades. Be patient.

Sorry for the long message. Hope you will find yourself well in forex!

Best,
Keeley
  • #64
  • May 17, 2021 7:26pm May 17, 2021 7:26pm
To learn the forex you must check different youtube cahnnels about forex trading and follow them to get updates about forex. Also you can get news about trading at forums like forex factory and babypips.
  • #65
  • May 25, 2021 2:10am May 25, 2021 2:10am
For forex education, I feel babypips is a good source.Their free course is pretty good. It's very thorough, full of examples, clear explanations and even great humour! Their newsletter is very concise and informs you regularly of some important events and trading opportunities.
  • #66
  • May 31, 2021 11:27am May 31, 2021 11:27am
totally agree with you on that learned a lot on babypips the school not just being free their program is very interactive would recommend it for anyone who is a novice to forex trading
  • #67
  • Jun 1, 2021 2:51am Jun 1, 2021 2:51am
Some of the best sources for learning forex trading are:

  1. Babypips
  2. Forex Factory
  3. FX Street
  4. Daily FX
  5. Bloomberg

  • #68
  • Jun 1, 2021 3:54am Jun 1, 2021 3:54am
Quoting timojackson
totally agree with you on that learned a lot on babypips the school not just being free their program is very interactive would recommend it for anyone who is a novice to forex trading
Exactly, the school of pipsology on babypips is one of the best ways of getting forex education, also the practice on demo accounts helps in making well aware of the trading platforms and conditions.
  • #69
  • Jan 15, 2022 5:01am Jan 15, 2022 5:01am
Quoting smikester
Most of the resources you need to solve this one are on the internet. To be honest I don't keep track of books very much because they deal with history, not what is happening now or what is proposed in the near future. There are some good books on trading, though. If you read the home page of Forex factory there will be up to date news. Or subscribe here: http://www.forexlive.com/ Anything you don't understand, ask or search with a search engine. sooner or later it will start to make sense, of a sort. There is an inverse correlation between...
Thank you! I am new here, and this is also what I am looking for.
  • #70
  • Jan 17, 2022 1:48am Jan 17, 2022 1:48am
Quoting candlelover
Some of the best sources for learning forex trading are: Babypips Forex Factory FX Street Daily FX Bloomberg
i like all of them you mentioned , but from all i like most Fx Factory and pips school which really contains all basic knowledge and experience and supportive to acquire perfect trading principle.
  • #71
  • Jan 28, 2022 11:31am Jan 28, 2022 11:31am
I think, at first you should know about what currency do you want to trade with.

New traders tend to jump in and start trading anything that looks like it moves. They may use high leverage and trade randomly in both directions, and this can often lead to the loss of money.

Understanding the currencies that you buy and sell can have a big impact on your success. For example, a currency may be bouncing upward after a large fall. This may cause new traders to try to "catch the bottom."
  • #72
  • Jan 29, 2022 1:58am Jan 29, 2022 1:58am
Quoting Cheverel
No doubt, FX Factory, and pips school are excellent sources for learning the concepts of forex, but I would encourage traders to practice regularly on a demo account to consolidate their learnings.
agree with you, forex factory brings all suggestion and expert advisor by their community and pips has a good education site . this is a very good combination for beginners trader.
  • #73
  • Jan 31, 2022 5:11am Jan 31, 2022 5:11am
Hi, fellow traders, Here are things that I learned from trading which I want to share with you:

Patience is your weapon. Use it

Greed is the cause of all evils. Often people rush to earn a lot of money and eventually fail miserably when they buy shares online relentlessly. Take each investment step by step. Analyze each success and each failure. Learn from your mistakes. Then, finally, rise like a phoenix.

Learners do not stop

Getting comfortable in your success or your failure will make your growth stagnant. Never stop researching, studying new markets, and devising new strategies on how to trade. The vision of trading is simple, keep growing.

The path to success is never a straight line

Struggles are impediments to overcome; focus still needs to be on the prize. A wiser trader is the one who dreams big, aims for stars, and does not let any challenge question his credibility. With its sharp ups and downs, trading platforms bring out the insecurity, fear, and irrationality that we usually keep hiding in the polite society. Investing is not just a test of strategy– it is a test of character. What we usually do when investing is very often what we believe about ourselves.

Hard work is your best friend

Curiosity and hard work have never failed anyone. Doing the homework right and putting optimal efforts in research on share market tips will never harm you. They might not help you to devise Plan A but will surely help you to plan other letters of the alphabet.
  • #75
  • Feb 23, 2022 4:12am Feb 23, 2022 4:12am
Quoting kalel99
Hello all. I'm new to the market. As such I'm craving advice. Made a few missteps already and had a few successes. I have a competent account manager but i feel I need to master this market and would appreciate all help in doing so.
same here thought i was going ok then bam got hit badly need more training
  • #76
  • Mar 29, 2022 2:47am Mar 29, 2022 2:47am
Forex education is the one thing that a trader badly needs. Free only resources are available in bulk for learning how to trade in the most exact way. Traders can follow e-books, video tutorials, and web contents to develop the basics of trading. With the growth of technology, learning has become so easy for traders.
  • #77
  • Apr 14, 2023 1:24am Apr 14, 2023 1:24am
Forex training should be provided by a professional trader.
I am afraid that you will find a lot of scammers on the Internet who want to cheat you with different training courses.
That's why you should look for profitable traders and follow their trading by analyzing it.
  • #78
  • Apr 14, 2023 7:55pm Apr 14, 2023 7:55pm
I am more of a swing trader but one of the most difficult things for me to overcome for whatever reason was this thought or feeling that I always needed to be in a trade. And that cost me a lot of money. Partially FOMO but also thinking I was doing something wrong if I couldn’t find a trade to be in all the time. Now there are days maybe even a week will pass where there is no trade for me. And now finally that is perfectly fine with me and for me. Had to learn not to force a trade that was never there to begin with. Patience is key.
  • #79
  • Last Post: Apr 20, 2023 4:23am Apr 20, 2023 4:23am
For what is worth I recommend the following books:
* Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Application by Jon. J Murphy
* The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader by Abe Cofnas
* Principles by Ray Dalio
* Machine Learning for Algorithmic Trading: Predictive models to extract signals from market and alternative data for systematic trading strategies with Python by Stefan Jansen

Edit: If you dont have the time to read all these books I would recommend the dailyFX trader education https://www.dailyfx.com/education
Its free and there is no sign up required.
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