Easy Steps to Learning Forex Trading


As I write this, it's the start of a brand new year, which is very exciting!


A new year is a great time to set goals and make resolutions. Many of you reading this blog may have a goal to finally learn how to trade Forex or a resolution to finally become profitable in your Forex trading. These are great plans and ambitions to have. No matter what time of year it is when you are reading this though, this page will help you achieve your Forex trading goals and help you to start a Forex career...



A few questions before we get started...


Is Forex profitable?


Forex trading can be very lucrative, if you know what you are doing. Most lose money though as they don't take the time to educate themselves and learn from someone that is profitable. Too many people trade Forex by 'jumping in the deep end', which may work in some areas of life but not in Forex trading.


Is it possible to become an independent Forex trader?


Most traders work for some sort of financial institution, such as a bank, some sort of hedge fund or are independent (retail trader). It is definitely possible to become a full-time retail trader, but for most people, trading can become a money making hobby - the step from giving-up the day job to full-time trading is usually too big for most people.


What is the best way to learn Forex?


Simple follow the steps below to get started...



Easy steps for learning how to trade Forex...



Step 1 - learn the basics


The basics of Forex, including what Forex is and how Forex is traded, you can take my FREE Forex basics course here.


Once you understand the basics of the Forex market, you can then take my FREE price action basics course. This course will teach you the basics of chart analysis, which is a crucial skill for Forex traders.


Step 2 - open a demo trading account


Once the basics have been learnt, you can start practising. Demo trading accounts allow you to trade the real Forex market without any financial risk or cost. There are links to a couple of FREE and UNLIMITED demo trading accounts on my recommended Forex broker page.


You can also open a FREE basic account with TradingView, which will enable you to practice your chart analysis. The basic account is FREE with no expiry.


Step 3 - learn more


Once you are confident with the basics of Forex and have had plenty of trading practice on demo trading accounts, your next step is to increase your trading knowledge...


Forex Videos - I have countless FREE videos on my Forex YouTube channel


Forex Books - trading books are a great way to improve and learn. Obviously they do come at a cost. I highly recommend this book and also this one.


Step 4 - trade a strategy


Start using a trading strategy. This will give you an edge, which will put chance in your favour.


If you would like to develop your own strategy, I have some tips here.

If you would like to learn my strategies, please sign-up to my Advanced Price Action Trading Course.


If you need additional help, please consider taking my Forex mentor program.



Whatever you decide, I wish you all the best with your trading and hope that you become profitable.

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DISCLAIMER

 

*There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Samuel Morton, love-the-pips.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for Forex trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information.You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Samuel Morton and love-the-pips.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading Forex, Options on Forex, and any retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Samuel Morton and love-the-pips.com is not an investment advisory service, is not an investment adviser, and does not provide personalised financial advice or act as a financial adviser. love-the-pips.com exists for educational purposes only, and the materials and information continued herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments. You hereby understand and agree that Samuel Morton and love-the-pips.com does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein.

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