You can learn forex markets and currency trading in separate courses, seminars, from mentoring or by instructions from dealers and brokers. Books and forex magazines offer another way to introduce yourself to foreign exchange operations.
Learning Forex – Courses
There are many classroom courses available to learning forex. These situations normally involve a group of people taught at the same time.However, if you choose learning forex through courses of this kind, you'll get better one-on-one feedback from the teaching staff than you would get from a seminar, where the audiences are bigger. Furthermore, in relation to mentoring (one-on-on tutoring), forex courses offer a more inexpensive way to gain knowledge about the markets.
Learning Forex - Instruction
Instruction based forex learning is gaining popularity due to Internet. While the students paper trade, the educators give instructions on what was done correctly by the student and what was not. Because much of the trading rules used and taught in courses and seminars is based on technical analysis, the teachers can give feedback on the correct use of the rules when the students use these rules on paper trading or at actual trading situations. The education situation is very similar to mentoring, where feedback is given on one-on-one basis. However, with mentoring, the feedback normally goes much deeper, even into the psychology of trading, which is a very important aspect of the whole trading experience.
Learning Forex – Mentoring
Mentoring can be the most expensive, yet most beneficial forms of forex education. In forex mentoring, feedback is given one-to-one, and the teaching covers all bases of forex markets, including trading psychology, market analysis, and trading rules. However, it's very important to be picky about the mentor. Choose carefully a person with a successful trading background and a personality that you feel comfortable with.
Learning Forex – Seminars
Seminars usually offer an affordable way to hear from the superstars of FX trading. What you normally won't get is a personalized experience, but instead will gain a peek at the trading strategies of the best. There are also beginner's seminars, where the basics of forex markets are covered. What you'll love about these seminars, in addition to the basic material itself, is the Q&A session after the seminars, allowing you to ask and hear others ask questions about forex. Some (bigger) seminar organizers allow you to purchase the handout materials without participating in the seminar itself, for a deeply discounted price. This is a preferable way to get the knowledge from a seminar if you don't live nearby from where the seminar is held.
Learning Forex – Magazines
To start learning about forex markets and trading, forex magazines offer up-to-date information on the most successful trading strategies, companies, and individuals. And because of the on-going development in FX trading systems, you'll get to know about the latest offers from developers of these systems. An upcoming trend among publishers is to publish on-line only magazines for forex professionals and enthusiasts. For example, e-Forex is devoted to on-line FX trading.
Learning Forex – Books
For many, the first way to learn forex is through books. In fact, you can learn about all aspects of foreign exchange related operations, such as options, futures, currency swaps, euromoney markets and others from books. Even though some books are about trading strategies in other financial markets, they can be used directly on forex trading. In fact, most books on technical analysis fall under this category. However, if you use fundamental analysis, which deals more about the non-quantitative measures of forex markets, you should concentrate more on books with strict focus on forex markets. There are hundreds of books available to start learning forex and currency trading.
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