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4 Practical Methods to Learn Forex

Posted: Mon Jan 27, 2020 8:56 pm
by bylaly
Forex continues to attract attention for many people who want to evaluate their savings thanks to working at desired times, acting independently in the market and high earning potential.

However, although the mentality of trading on forex seems as simple as I describe it with emojis, it is absolutely necessary to learn some information in order to achieve profitability in the market and, more importantly, not to lose money.

Starting from scratch, good planning and strategy are required to learn Forex. In this article, I will talk about four practical methods that will help you learn forex and work for you.

Prepare a list
Remember how you tried to learn something. For example, I usually prepare a list immediately if I need extensive information when I start learning something new. First I write what I need to know, then I sort the list according to what I need to learn first.

Since what you are trying to learn is forex, you do not have many options. Therefore, the list of topics you need to learn in your list can be as follows:

General information about the Forex market
Basic concepts that you will frequently hear in the Forex market
Browse and execute transaction orders and sample transactions
Analysis methods and related concepts in the market
Strategies frequently applied in the market and how strategies are implemented
Strategies and methods that you can develop yourself

Creating a list at first may seem frustrating, but it is extremely effective for you to start learning the market.

Try to think simple
One of the best ways to make it easier to try to learn new information is to think and deal with what is simpler. Forex may seem difficult for those who have no knowledge of the market due to the intensity of the concept, but it is not as difficult as it seems.

The problem here is to learn the solution, forex. Don't put pressure on yourself and focus only on simple solutions to learn. This is what you need.

Take Forex as simple as possible. When you start to learn, everything will sit in your mind instead of home.

Take advantage of resources
You can browse web resources and get reasonable information about the market in order to get an idea about Forex. But I recommend you to start learning with a resource. So you don't get confused and at least you can access most of the information you need directly in order.

You can choose one or more resources that are suitable for you by browsing the previous article about forex education books . In addition, the article I mentioned also contains effective advice on how to read forex books. I suggest you to read since there is an article you should definitely use.

Take yourself enough time
Don't try to learn everything about forex in a few hours or days. Start learning slowly in the list you have created and let what you learn come into your mind.

Make sure you have enough time to learn. On the other hand, to reinforce what you have learned, open your demo account from forex brokerage firms, try your knowledge and start applying what you have learned.

According to the regulation of the Capital Markets Board, which came into effect on 14 January , it was obliged to make at least 50 transactions for 6 days in demo accounts provided by the intermediary institutions that everyone who will already start trading on the forex market for the first time. For this reason, starting to practice using demo account before logging into forex with real account will make your information memorable and prepare you for the real market.