Beginner traders who have recently become acquainted with forex, need guidance on the Forex trading course for beginners.
Like new students in a class, they need adaptation to their peers, teachers, and also the school environment.
Even though there have been many articles or blogs that teach forex for beginners, it is to broaden the horizons of forex knowledge. Articles on Forex trading course for beginners may be useful.
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Contents
Forex trading lessons for beginners
The first time a beginner knows forex, maybe what comes to his mind is the potential benefit from changes in the price of one currency against another.
Some of the following things you need to know and understand for beginners.
High-risk high gain
Maybe when you first read about forex, this is a field of money. That’s right because the forex market is the most liquid market in the world. The volume of transactions per day is more than 5 trillion dollars, which is large money circulation. So forex can be said as a field of money.
Even though forex trading is a field of money, it is, in fact, a high-risk business. The general term is high-risk high gain.
A trader may get a profit of up to hundreds of percent a week, but it could be that all the profits that were collected during the week, disappeared in a day because of big losses.
Therefore, all brokers always give a warning about risk disclosure, that the forex market is a risk that investors might lose money.
Pairs Currency
This may be too basic, but it is important for a trader to know what instrument he is trading.
In forex, a currency pair is a commodity that is traded on the forex spot market. The value of foreign currencies is always changing, it is this change that gives traders the opportunity to get profit. Currency pairs such as EURUSD, GBPUSD, and many others.
Leverage
Beginners are very important to understand the concept of leverage because many are mistakenly mistaken that high leverage will provide benefits for traders.
At first glance, it is true, because with high leverage a trader can make transactions with a greater value. But it will make the strength of margin trading low. And that’s not great for the forex trading model.
With a simple explanation about leverage, the trader uses 100 $ to transact $ 1000, so the $ 100 is the funds deposited with the broker, and he owes the broker $ 900. However, the concept of debt here is not generally a person borrowing money from other people.
The lowest leverage is 1: 1, while currently, some brokers offer up to 1: 1000 leverage. There are even brokers that offer 1: 3000 leverage options.
Learn basic technical analysis
How to learn technical analysis begins with learning about chart types, the most popular of which are candlesticks. Learn the basic concepts of reading candlesticks and their types. It will provide a basic understanding of how prices form over a time frame.
Next is to learn about the indicator which is a toolbox in technical analysis that is useful to help analyze market trends. There are many kinds of forex indicators, from moving averages to indicators developed by traders themselves.
Learn how to use the trading platform
There are various forex trading platforms from cTrader, Ninjatrader, plus500, Metatrader, and so on. For now, the use of the MetaTrader platform is still the most popular, especially Metatrader 4.
Learn how to open new orders, use stop losses, trailing stops, attach indicators to charts, and so on.
Even though the trading platforms have the same basic functions, to carry out buying and selling transactions, each of them has different looks and features that may be different. And if it’s possible to add third-party indicators, also learn how to install these new indicators.
Use of the demo account
Many beginners make a lot of mistakes because they never take a demo account seriously. They only know how to open and close trading positions, but don’t really understand how the real market behaves.
Spending two years of study time on a demo account is better than just practicing for a month. Many traders fail before six months on a real trading account, so at least practice on a demo account for six months and see your performance during that time.
Start with cold money
Forex is a high-risk trade, there is no guarantee of profit from forex trading. If you have the courage to start live trading. Maybe after practicing studying on a demo account feel confident to start live trading.
Use only cold money, meaning that it is free money that is not being used in the near future. Never go into debt to neighbors or banks just for forex trading deposits. You will face double risk if you do so.
If you fail, back to practicing the demo account
At the beginning of a career many traders who fail then leave forex because they are desperate. Maybe your decision is right because not all will suit forex trading. However, you can still learn a demo account to evaluate and develop your skills.
Or if you are more of a trader investor, you can search and find the best PAMM service for investment. If the broker supports copy trading service you can try it because it will trade automatically.
Never give up
All businesses need the effort to be successful. Each trader may go through his own time with different difficulties from other traders. The main thing is to try, pray and submit all the results to God.
Every business does not always promise beautiful results, but the effort never to give up is better than people who do nothing.
Forex trading course for beginners London
London is one of the most famous cities in the world, it is also a center of international trade. If you intend to learn forex through courses, there are several course service providers to choose from. Of course, to start learning there must be an intention to succeed because taking a course requires a fairly large cost.
Forex school online
Forex school online is a suitable course for beginners to advanced traders. The material provided is thoroughly reviewed for beginner traders. Through this course, you can learn about the basic forex market, Money and risk management skills, as well as technical analysis and strategies. And the good news is that all these courses are distributed free of charge. And the good news is that all these courses are distributed free of charge.
UDEMY
There are various courses at UDEMY, not only about forex trading for beginners but also about cryptocurrency. It is a course platform that provides teaching via video format. You can sit back and relax while learning from the mentor who talks through a video presentation.
Using the search box you can use the keyword forex trading course for beginners then many options will appear which will be directed to the UDEMY course page. Each course has a different number of students. If you are interested in joining a course, you must enroll in the course.
One example of a course held by forex.com entitled “Technical & Fundamental Analysis – From Beginner to Advanced Level – Profound Courses with Multiple Online Examples” received a rating of 761 with 4.3 stars and a total of 24,740 students at press time.
Bizintra
You can also learn forex courses at Bizintra, this is available for beginners, intermediates, and advanced traders. Professional mentors with decades of experience in forex, although not for free to take courses, may be interested in the material they share. For example, how to scalp the GBPUSD pair, this will be a course that might impress you.
London trading institute
This is a great place for forex courses for beginners, not even just courses on forex, it also provides courses for cryptocurrency and trading algorithms. You can also consult for free for 15 minutes by contacting the course team via the contact form.
They have a team The CEO of the London Institute is Andy Demi and the rest of the team is Alberto Pallotta, each of whom has decades of experience in the financial markets.
London academy of trading
This is a fairly expensive course option, however, there are several course options targeting different students.
Learn how to trade and specialist financial courses on different topics, you may be interested in courses on cryptocurrency, it costs 599 Pounds Sterling.
Alpha trading floor
This is another option for the London forex trading course, they divide the training into four parts, a one-day beginner course, an online financial trading course, 12 weeks forex training and mentorship, and private training.
However, to take this course requires a sizable amount of funds, where for the beginner class it costs £ 132.50 to register. While the online financial trading course costs between £ 399.00.
Forex trading course for beginners South Africa
South Africa, it turns out, also has many sources of information for learning to trade for beginners. If you are interested in learning forex through a course, here are some recommendations for a South African forex trading course.
Forex training course
The owner of this course with more than 12 years of experience in financial markets is Ernest Klokow. In this course, you can learn about the Metatrader 4 platform, 3 months full-time forex trading course, and 2 months online classroom course.
Stocks market college
It is a course provider of choice for beginners to learn in South Africa. They provide course, study modules which include, The Stock Market and Concepts of Trading, Fundamental Analysis, Technical Analysis, Instruments to Trade, Risk Management, and Practical Trading.
Forex academy
You who are in South Africa can also learn forex courses at the forex academy, this consists of a team who will be your teachers. The elegant appearance of the site gives the impression that this class is professional.
The teacher who gives the course is Ernest Klowkow who is the CEO, Monwabisi Njeza, he is a forex trader and mentor, Molatedi (LUX) Maduna, he is also a forex trader and mentor, and Chelsea Klowkow who became Marketing Director.
The best forex trading course for beginners
Which is the best among forex trading courses for beginners? Paid courses are usually seen as providing more support to students.
Of the several forex trading course options that have been described above, to determine the best one is to pay attention to the number of participants and also the lesson provided in the course.
In this case, UDEMY is still the favorite choice of the best for beginner traders. But actually, there are other courses out there that are also competing to be the best. Your interest will also depend on the funds that will be used for course fees. Because some courses require large funds.
Online forex trading course for beginners
Apart from online course resources, you can also learn forex through the help of brokers, some of which provide free courses from both articles and webinars.
If you are a youtube fan, some experienced traders share their knowledge through the youtube channel. Some of the mentors that you can become customers with are Karen Foo and Rainer Teo. Professional forex trading course lesson 1 by Adam Khoo.
Learning forex via youtube is even free without having to pay, but you need an internet connection to be able to watch the forex trading course video tutorial for beginners.
Free forex trading course for beginners
Although some forex course providers require that course participants have to pay to gain forex knowledge. But actually, there are other ways to learn about forex for free through forex articles and sites that provide information about forex.
Some of the free forex learning sites and popular among traders include Earnforex, Babypips, Forexpeacearmy, Dailyfx, Tenkofx.co.za, Investopedia, Benzinga, etc.
Conclusion
Learning forex for beginners must be with awareness and patience in building trading skills, this will usually face many obstacles in practice, but if a strong determination has become the motivation, success in the forex business will be possible.
Although there is a lot of knowledge about the ins and outs of forex, forex trading can actually be done simply. It is about how to manage money to make money.
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