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What is the best cheap way to learn Forex trading all the way up to practical use?

By January 21, 2019 No Comments
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The best way to learn Forex is to trade with a Demo account.

However because there is such a long learning curve many people give up in the process. Also, demo accounts can feel like a video game because no real money is being spend, so instaed of prioritizing it, like many demo traders you may just put it in your backlog of things to do and therefore you wont trade like you would if you had real money on the line.

To get started, I would recommend you go with Babypips.com https://www.babypips.com/learn

They can free lessons that I’m sure you’ll find quite interesting.

Another thing I personally did is I studied chart patterns.

YES, I KNOW.. they are traditional chart patterns and there are rumors going around that they dont work anymore because they are old school and the markets have changed.. and let me tell you that this couldnt be further from the truth.

The chart pattern reflect human psychology and human behavior, we human being are creatures of habit and are driven by the way basic emotions, which streams from evolution itself.

Many traders out there prefer to use price action as their #1 indicator as opposed to indicator plugins which many traders rely upon.

Chart patterns need continuous study, because they are not so very obvious on the screen. Meaning they are not a perfect fit which takes a skillfull and trained eye to detect.

Since the best way to learn trading is to actually trade yourself using a forex demo account, you need to keep track of your progress, success and failures along the way.

Here is a nice templates that I use during my trading process.

NEW TRADE
Date & time: Around 10:20am, May 4, 2016

Current Balance: 4618$

Put a sell at at 92.47

StopLoss: 92.40

Reason for buying/Selling

A)

B)

C)

RESULTS
Mistakes Made:
(Snapshot of the screen with indicators)

 

hustler102

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