Training for success

Understanding the nuances of the Forex market requires experience andtraining, but is critical to success. In fact, ongoing learning is as important tothe veteran trader as it is to the beginner. The foreign currency market ismassive, and the key to success is knowledge. Through training, observationand practice, you can learn how to identify and understand where the Forexmarket is going, and what controls that direction.

To invest in the right currencies at the right time in a large, nonstop andglobal trading arena, there is much to learn. Forex markets move quickly andcan take new directions from moment to moment. Forex training helps youassess when to enter a currency based on the direction it is taking, and howto forecast its direction for the near future.

Training with Easy-Forex
Offers one of the most effective forms of training through hands-on experience. For as little as USD 25 at risk per trade, you can start tradingwhile learning in real-time. Easy-Forex strongly recommends starting withvery small volumes, and depositing an amount to cover a series of trades.Learn the basics of the foreign exchange market, trading terminology,advanced technical analysis, and how to develop successful trading strategies.Discover how the Forex market offers more opportunities for quick financialgains than almost any other market. The many available resources and tools to train yourself. There are many free tools and resources available in the market, particularlyonline. Among these, you will find:

Charts
There are many kinds of charts. Start withsimple charts. Try to identify trends and major changes, and try to relatethem to technical patterns as well as to macro events (news, either financialor political). Make an effort to determine the general magnitude of eachchange on the chart (meaning: what is the $ value of the change, if you weretrading at that point)

Guided tours
Most platforms provide guided tours, demos or tutorials, either online or via download.

News / breaking news
Keep abreast of world news. Read all the headlines, particularly thosedirectly related to Forex. Check the impact of such news, if any, on thecharts.

Forex outlooks
Read daily/weekly outlooks posted on Forex or general financial sites. Manyinclude alerts to upcoming reports and events such as market indicators andinterest rate decisions.

Forecasts
Read forecasts, some of which are available free of charge. Bear in mind that forecasts and predictions are made by people, none of whom can guaranteethe occurrence of future events…

Indices
Follow the indices of the leading markets. Compare them to the changes in the Forex market, and to changes inparticular currency pairs.

Economic indicators
Pay attention to the release of economic indicators (for example – themonthly unemployment rate in the USA), and try to identify their impact onthe market in general, and on specific currency pairs in particular.

Glossary
Don’t hesitate to browse Forex glossaries, which are offered free on manyplatforms. A given word may have different meaning as it relates to Forex andto the terminology used by the Forex market participants.Seminars and coursesTry to attend professional Forex seminars. Some seminars are offered free,often as part of a client recruitment process by a given platform; many are,nevertheless, worth attending. Educational courses are offered online and bymany post-secondary institutions.

Forex books
Read, or even just browse. Many books are offered free, or as part of aservice package to the trader. For many, historical background and technicalanalysis are topics better covered in books than in an educational setting.

Internet forums / blogs
Visit and participate in Forex forums. This gives you an opportunity to learnfrom the experience of others. Of course, remember that some forumparticipants may be biased, promoting a given Forex platform or their ownagenda.

So much to consider
To succeed as a Forex trader, you must take into consideration a wide varietyof factors such as:

• spread (“pips")
• commissions and fees
• ease of access to the trading platform
• minimum amounts needed for trading
• additional amounts needed (if any)
• control over activity and positions
• the platform software requirements
• ease of deposits and withdrawals
• personal service and support provided by the platform
• the platform’s business partners
• the platform’s management, offices and outreach
• the products offered onboard the platform; and many others.Online training, no downloads.

The “demo" account ideaMany
Forex platforms offer new registrants a “demo" account. A typica lexample would provide 10,000 “demo" dollars that can be “traded" as ameans of learning how to succeed in Forex, does not offer “demo" accounts. Coming to understand thatreason must rule over emotion is the most important lesson a trader canlearn, and it cannot be done with play money. If there is no consequence toindulging in emotional responses to the market, there is no learning, so“demo" accounts tend to have little educational value. Rather, Easy-Forex allows you to start trading with just $25, including full access to one-on-onetraining. New registrants are thus able to garner both an educational andexperiential benefit unavailable through simulated situations.


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Trading Forex