How to Learn Trading Forex from Scratch - Forex Trading Course 2020

How to Learn Trading Forex from Scratch - Forex Trading Course 2020

Written by: PaxForex analytics dept - Thursday, 18 June 2020 0 comments

Trading is nothing but a way of making money on financial and stock markets by trading different investment instruments: currencies, commodities, contracts for difference, etc. For an unaware person, trading with its complex terminology seems to be something absolutely obscure. But for those who have been trained and become professionals, trading is an open book, every word in which has a clear meaning and, most importantly, it brings profit. But in order to make money with the help of trading, you need to take the very first step - to get some go through some Forex trading tutorials.

How Do I Start Trading on the Forex Market?

 It is not a secret that before getting something, it doesn't matter what it is, you have to give something. The same applies to Forex trading and your would-be-profits. You should understand that you cannot just open a trading terminal and start clicking buttons, opening and closing positions randomly. There must be a logic behind all your decisions, otherwise, you are doomed to failure. Now we get to the point when you ask "Oh, so how do I do that?" and here are we are, always ready to guide you. The answer here is education, basic and seriously-taken education. Simple as that. But wait, not just whatever education, it is very important to choose the RIGHT way and place to learn especially given a wide range of fake traders and ads offering some books for opening accounts with a particular broker.

How Do I Choose My First Course on Forex trading? 

It is not a secret that before getting something, it doesn't matter what it is, you have to give something. The same applies to Forex trading and your would-be-profits. You should understand that you cannot just open a trading terminal and start clicking buttons, opening and closing positions randomly. There must be a logic behind all your decisions, otherwise, you are doomed to failure. Now we get to the point when you ask "Oh, so how do I do that?" and here are we are, always ready to guide you. The answer here is education, basic and seriously-taken education. Simple as that. But wait, not just whatever education, it is very important to choose the RIGHT way and place to learn especially given a wide range of fake traders and ads offering some books for opening accounts with a particular broker. Considering that trading Forex courses are one of the best ways to learn how to trade, we suggest you discover the types of courses, as well as the features to pay attention to while choosing the best course on Forex trading.

What Types of Trading Forex Courses Are There?

Today you can find a lot of trading education courses on the Web, which are offered by large business schools, professional traders, and even people who have a very remote relation to trading.

All trading Forex courses can be divided into several groups depending on: 

Level of knowledge

  • Beginner. These are courses for those who just decided to become a trader and need basic knowledge. In the course of the training, which lasts two (or more) weeks, the trainees take the first steps: they get acquainted with the most important concepts of trading and simultaneously try their hand at trading. Lessons include a theoretical part in the form of lectures, seminars, workshops, and a practical part where all the skills acquired are practiced. In good trading Forex courses, classes are conducted under the supervision of a tutor who is ready to advise the student on any questions at any time. During their studies, novice traders actively discuss financial market news, learn to make forecasts, and place their first orders.

  • Advanced. Designed for those who already have basic knowledge and skills in trading and want to develop them. Training at different business schools is organized differently but usually takes place in groups of 5 to 25 people. The program participants attend master classes, seminars, and lectures by experienced and successful traders. The purpose of the classes is to give students a deep understanding of the processes taking place in financial markets, the psychology of risk management, consolidate and improve professional skills and abilities. As a result of training, the investment portfolio is protected, confirming the fundamental and technical knowledge of students.

  • Professional. This is the next stage of training for those who want to make trading their main profession and are interested in deepening the relevant knowledge. In the course of training, the trainees conduct their own research on the topic related to trading - its methods, strategies, charts, etc. At the end of the training, a final assessment is carried out, for example in the form of protection of an individual trading system. In case of successful defense, some educational institutions issue a diploma with the qualification "Trader".

Price

  • Free courses. Recommended for beginner traders, as this is where the basic information is provided. A significant advantage of such a course on Forex trading is that the participant can easily leave or switch to other courses if he or she does not like something or wants to get more information. However, it should be understood that free courses provide only the minimum necessary knowledge, which is likely to be insufficient for independent work. Free courses must provide introductory information on Forex trading, on types of different markets, types of their analysis, risk management. Besides, knowledge about Forex brokers, trading terminals, trading using robots will not be redundant.

  • Paid courses. Many such courses also provide basic information, but also, on good courses, you can learn the current trading strategy. Teachers on paid courses themselves should have serious experience in trading, and during training regularly support students in the form of personal consultations. The main advantage of paid courses is of high quality. Listeners are only offered information that is really important and necessary for their work in the right amount and form.

Audience coverage

  • Individual training is more expensive but has many positive aspects. The listener learns all the main aspects of trading in more detail and in-depth and gets good practical training. A personal, experienced mentor is always involved in the individual learning process, with whom the student can consult at any time on any unclear or complex issues. Besides, the program can be adjusted in the course of the study to focus on the "weak points" of the student. Individual training allows you to quickly get from a beginner in trading to an advanced level specialist.

  • Group training. The advantage of learning in a group is the effect of immersion: the listener not only forms their opinion on a particular issue but also gets the opportunity to learn the opinion of their colleagues, discuss and choose the best way to solve the problem because communication activates the thought process. Also, learning in a group is stimulating, as there is some kind of competition between traders. Another benefit is the lower cost of training compared to the individual course on Forex trading. The downside of this form is the lack of personal attention to each listener. The group form of study does not imply that each question is not understood by a student, which means that not all necessary material will be assimilated to the required degree.

What to Consider When Choosing a Forex Trading Course

In the process of choosing trading Forex courses, it is important to take into account certain criteria that the program should meet. We have prepared a check-list for you to use:

  1. The duration of the trading Forex course should be determined according to the knowledge of the trainee.

The learner must have a good understanding of the information he or she is about to be taught. If it becomes clear that the material is not absorbed, there is an overload. Make sure to take breaks in training.

The perfect variant is a few days' breaks. It makes it possible to comprehend the information obtained. Moreover, you can practice trading during breaks. Subsequently, the results obtained should be discussed with the teacher.
If you decide to take paid training, you need to treat your choice even more responsibly. In this case, the trader has the full right to demand high-quality services.

  1. There should be no unnecessary information in the class.

Only during the course on Forex trading, one can understand what information is really useless for a trader.

Many resent i when a teacher starts talking about himself. Often, however, such information is simply a transfer of own experience. The most important thing is that such stories are accompanied by the study of theoretical information about trading.

It's important to understand that our brain always forgets what it can't learn. That is why it is necessary to ask questions all the time. You should get the most out of training.

  1. Supreme training should be provided individually or in small groups of no more than 5 people.

In small groups, the material is much better absorbed. However, one should not avoid so-called club days, when the speaker delivers information to a large audience. In the process of such sessions, professionals share their experience, discover the secrets of trading, telling about their success.
If training is paid, it should ideally be tet-a-tet with the teacher. It makes you feel freer to ask your teacher as many questions as possible. At the end of the day, you will not regret the money spent.

  1. Setting the right goals should be of paramount importance in the learning process.

The main goal of the whole trading Forex course should be to develop the skills of competent trading. In doing so, it is important to properly combine theory and practice. There's no point in studying information by ignoring the process of trading itself. On the other hand, there is no point in simply practicing without learning all the nuances of trading. So, do both.

  1. Students` feedback - the majority will be complimentary, but look for negative comments and see if all these impressions are justified.

With the help of the qualitative training program you will learn:

  • to read and understand the Forex quotes;

  • to analyze the news;

  • to get a profit from trading.

The course should pay attention not only to strategies but also to money and risk management. A competent combination of the main topics on trading allows us to minimize the possibility of losing the entire capital.

The compliance of the trading Forex tutorial with the abovementioned criteria proves its high quality. Using such a course on Forex trading can and will make you an educated and flourishing trader.

Forex Trading Guide

Apart from the abovementioned trading Forex courses, you can consider the Trading Guide PaxForex offers. With that you will learn the fundamentals of the Forex trading, will discover the main types of market analysis. Divided into 10 parts it is extremely understandable and is here to improve your knowledge of the financial markets. Apart from that, you will learn the basics of the trading strategy and some such technical notions as support and resistance, pending orders, and trend lines. This guide was created aiming to make your trading easier and more profitable.

Forex Courses - Videos

There is a belief that information is better understood if perceived through a video. Probably it does make sense since usually, on Forex training videos, while the speaker is explaining the notion there is an illustration on the monitor. It is a great way to learn to trade especially if we speak about technical aspects of trading. To help you with the training PaxForex provides educational videos comprising all the essential basics you need to learn before you start trading. These videos cover such topics as Forex trading, market analysis, trading strategies, MetaTrader 4 guide, and much more.

Forex Trading Tutorials and Articles

Another way to improve your trading skills is through constant learning using different types of Forex trading tutorials, no doubt. Remember that in order to be constantly prosperous you have to keep up to date not to miss amazing opportunities. To do that, we offer you to pay attention to Market Analytics provided by PaxForex. There you will find Forex blog posting useful articles about Forex basics, trading strategies, and other trading topics. In addition to the blog, there is a Fundamental Analysis section with all types of news and trading ideas, as well as Daily Forex Technical Analysis offering trading signals. Armed with all these trading arsenals you are more than ready to start trading and making money with PaxForex!

Forex Courses - Final Thoughts

Education in Forex trading is very important for those who make decisions to start making money on the financial markets. It is necessary to approach this process with maximum responsibility and due diligence. That is why make use of all the materials available - videos, trading Forex course, articles and special Forex trading tutorials
Of course, going through the training phase is not a panacea, but obtaining all the necessary knowledge you reduce the risks of losing it all and maximize your chances to become a successful trader.