How to Learn to trade Forex it seems is as difficult as trading Forex itself.
In this handy guide we are going to cover how to learn to trade Forex.
The main problem new traders face when they embark on how to learn to trade Forex is that they become overwhelmed with information.
Some of this information may carry some validity.
A lot of it will not.
Before we go into how to learn to trade Forex.
There is some points that we will cover that remain the biggest issues to new Forex traders.
How to Learn to Trade Forex
In this article we are going to cover the important points in why so many new traders fail when they embark on their journey on ‘How to learn to trade Forex’
If you are new to Forex trading or you are a struggling trader with more experience please read the entire article.
It is full of vital details that will aid you from wasting time and money.
Here at Able Trading we have vast experience trading Forex and the financial markets which spans over a decade.
In this article we are highlighting the many reasons so many new traders will fail.
We believe that you are at a disadvantage from the beginning due to the sheer volume of misinformation available.
It isn’t that the correct information isn’t available it’s just that the magnitude of rubbish info outweighs the accurate information in our humble opinion.
We guess that most new traders do not even get remotely close to becoming consistently profitable before quitting.
It isn’t that they are not capable of learning how to trade Forex. It is they get snagged, misdirected and intentionally diverted by marketeers, fraudsters and scammers.
They then spend their hard-earned cash over several months and are constantly fed a distraction narrative instead of trading educational value.
If you have typed in your search, how to learn to trade Forex we hazard a guess, you will no doubt be new to trading.
This Article is specifically aimed at you.
We really want to help you to avoid the charlatans, scammers, fraudsters and the trading pitfalls.
The sheer mass and frequency of misleading information suggesting easy money whilst you embark on how to learn to trade Forex is concerning.
With the aid of social media this misinformation propels to a widespread audience in a matter of seconds, minutes and days.
The instant gratification mindset is ever present. Get rich now. Make money now. Give up your job and trade from a Jacuzzi now.
It is not realistic yet so many new traders fall for it. It is not their fault the whole social media façade is a far cry from reality yet it is not something that can be tested relatively.
However, with some rational thinking and common sense we all know what is too good to be true and this should be firmly at the forefront of your minds when you look at how you learn to trade Forex.
It is not that you are not rational thinkers or you lack in common sense but these marketeers are good!
You can get distracted very easily because of slick marketing and unrealistic gains.
If you ask ‘how you learn to trade Forex’ on social media you will likely be told you can earn lots of money whilst you do.
There is many different trading services on offer when it comes to how to learn to trade Forex and presents itself in many forms.
Where a trader provides their trades to you via a group.
There is nothing wrong with this as long as the signal provider has provided proof.
Pros: If you are tight for time this could be beneficial.
Cons: You do not obtain the skill of trading. And no, you won’t pick the skill of trading off of them by watching.
Educational videos/course and written content. Market views and access to support.
Pros: Affordable monthly payments. You get time to digest the education in and around current commitments. You get Continued Support. Subject to checking back ground and credibility you get access to a real trader. You also obtain the skill of trading. Unlike in signals.
Cons: Ensuring what you are learning is of value and not misleading. Delivering distraction instead of trading education that works and has been proven/tested.
Stand-alone Trading course:
An educational course. Video or written supplied.
Pros: No nonsense information. Subject to back ground checks it will deliver exactly enough information for you to trade successfully with.
Cons: No continued support offered. Questions can go unanswered. Possible confusion of deploying strategy. Confidence suffers.
We want to emphasise that how you learn to trade Forex is the same as how you learn any other skill.
It requires dedication and some hard work with focus.
Of course, you can achieve this with the real tested Forex trading strategies.
However, the education you digest must be of value.
Anyone can portray that they have a Forex trading strategy and it works and makes lots of money.
The question is how do you know if what you are learning and if it’s of any value?
If you have searched ‘how do you learn to trade Forex’ you have probably been taken back at the sheer volume of pages and websites on offer.
It is probably the same as searching for Forex trading strategies.
Therefore it is really important to think rationally.
The ease of which our brains engage and zoom in on the prize and not the process is the reason we believe many new traders fail at Forex trading.
Whilst on the hunt for value you will be swamped with free offers and unrealistic trading strategies and unrealistic trading returns by tricksters and marketeers.
There will be lots of free seminars where you spend your time travelling too these free seminars with your hard-earned cash to get to watch a sales pitch!
Perhaps an IT guy that pretends he traded in the investment banks but was IT support is the one doing the teaching.
That is worrying thought isn’t it, especially if you end up paying for it in the up-sell!
You must read between the lines. The anchor is the words ‘investment bank’ at that point the brain presumes he must know what he is talking about.
You must be careful of these well-placed words in marketing text or even when they are spoken.
Working at Goldman Sachs or any other investment bank is obviously an achievement and they will be very intelligent but it doesn’t mean they were discretionary prop ‘traders’
Even if they were, they would have analysts doing the fundamental research and technical analysis the trader simply executes in the most efficient and risk averse way as to protect the bank.
The above example is how one can get sucked in by ‘anchor words’
The brain will go – They worked at Goldman! – they must know what they are doing!
Quite possibly yes but do not presume it! In fact, a guy I know knows someone that works for Goldman Sachs he knows nothing on trading research yet he is a trader. He is not even privy to the research!
Because we are on social media, we are always interacting with people who want to learn to trade Forex and are only too pleased to offer advice and help where we can.
Below is a common conversation we at able-trading.com have with others on how you learn to trade Forex goes like this.
NT – New Trader / AT – Able Trading
NT. How much you make a month as a percentage
AT. Average over last 12 months 5.9%
NT. Is that it? I don’t mean to be rude but that’s not a lot
AT. It was 71% year with a 3.02% Draw-down (account peak to trough value change on closed trades)
NT. So and so said they can earn over 10% a month
AT. Perhaps they can have a good period but to obtain those trading returns consistently year after year we don’t believe it without proof.
We don’t know of any trader consistently earning double digit returns a month.
Hedge funds and HF Managers only turn out 10-30% performances per year on average.
NT. I only have a small account so need big returns.
AT. Have these people proved that they can trade those returns? Your focus should shift to how to learn to trade forex before looking to earn money
NT. No they have lots of members and a really big following. Their content is really good. Have you proved you can trade?
AT. Yeah,we have check (here) What content is good?
NT. Really good production videos with fast cars and drinking champagne lifestyle while trading from a jacuzzi.
AT. That isn’t providing you proof of trading is it? That is marketing.
NT.I’m going to sign up with them.
AT. Good luck!
2-6 months passes
NT. I have wasted my time, you were right. I was scammed they fed me rubbish I learned nothing of value!
AT. As long as you learn from it and recognise that you need to change your approach on how to learn to trade Forex you will be just fine!
Easy money does not come easy, when does it ever unless you are very lucky!
The odds are stacked against you with being lucky whilst you learn how to trade Forex.
You have all seen the day in the life of a Forex trader type videos.
Trading on beaches, coffee shops and on their phones even in Jacuzzi’s!
Sure, you can check your positions from these locations and devices but to actively trade Forex you require focus.
To share a photo in these places I would question motive. However, all of the above is null and voided if they have proved they can trade Forex.
When the focus is relentlessly on the lifestyle marketing and a facade as opposed to real trading Forex education itself it is a red flag-warning.
Do not fall for slick videos distracting you from what matters, Forex trading education.
If they were successful Forex traders, they would share important education instead of smoke and mirror subjects.
Examples are motivational and bio-hacking.
Both examples are great and there is nothing wrong with either ‘IF’ the education is coming from a consistently profitable Forex Trader.
Below is come common points of interest when you look at how to trade Forex.
Attracted to flash lifestyle marketing
New traders will come across the slick marketing of ‘wannabe Forex traders’.
Sitting in a rented Lamborghini or in an Air BnB rental. Perhaps even on a yacht with a laptop
These individuals are very unlikely to provide any kind of proof they are real Forex Traders and should be avoided at all costs.
If you must focus on them do your homework and look beyond the marketing and request hard and fast education results.
Here at Able Trading 90% of people that have purchased our course or membership come from such disgraceful so-called Forex trading educators.
Some of which have spent 24 months spending their hard-earned cash. Only to be none the wiser and very frustrated.
The mindset required is to keep asking yourself questions. Especially asking if it is too good to be true it normally is.
Patience is a key attribute required in trading so you should practice applying it when you search ‘How to learn to trade Forex’
Making loads of money really quickly and easily will take time. If you want the truth on that it should take between 6-18 months depending on how you approach the education and if it is of value.
Here at Able Trading we have a student who is consistently profitable after 2 months of education and mentoring.
He spent 2 years wasting money and time before we worked with him and he is now 7 months consistently profitable.
You don’t know who to trust or where to start to learn to trade Forex
This is a very common issue.
Those that navigate the above are then faced with:
‘Where do I go to How learn to trade Forex?’
You require as much reassurance as possible.
These should be:
Students that are happy about the Forex trading education
Be careful of trading influencers for a membership. Again, there is nothing wrong if they are influencing for the service which has proven they can trade. If they haven’t, they are complicit in steering you towards a membership that offers no value in obtaining the ‘skill of trading’
It is one thing being a successful trader and another feeling and looking like one on social media.
The one question that should be asked of any educator:
‘Can you provide me with the information on another student you have educated so I may talk with them?
That shouldn’t be hard information to obtain.
If you do obtain the information and the student offers you with a barrage of how good they are with no substance such as proof they are now trading successfully, they are likely working for the service as an influencer. Do not believe MT4 videos or screen shots. MT4 has been proven to be easily rigged. (insert video here)
If it is hard to obtain that is a major red flag warning.
Without sounding patronising or at risk of repeating ourselves please apply common sense.
If the educator is marketing a simple strategy then there should be lots of successful students given its simplicity.
Has the educator gotten any kind of verification on his/hers trading returns?
This will likely be more difficult to obtain.
Here at able trading we have supplied such proof
How to Learn to Trade Forex With Able Trading
To summarise on How to Learn to Trade Forex.
The first and most important fix to the approach is your own mindset.
You should adjust your expectations to be realistic.
What we mean is do not expect to make lots of money really quickly.
Does a Formula 1 driver have a few lessons and within 2 months make the grid and makes loads of cash?
Does an amateur golfer have a few lessons with a Pro and go onto to competition PGA level and make loads of cash with in 4 –6 months?
No! So why would a new trader?
Do you really want to obtain the skill of trading successfully? That’s the question you must ask yourself and be completely honest.
Those that want it bad enough will get it eventually. It is possible we are the proof. If you follow the correct path to learning you can obtain that skill too!
What we mean by that is despite the high possibility of setbacks the dedication will see you through along with being realistic about the process.
If you do and simply be honest with yourself about the necessary work required you will obtain the skill of Forex trading.
Let’s put this view into context.
Even if this puts you at a learning curve of 12 months.
In the immediate term it sounds like forever doesn’t it?
That is not the attitude for success so you should not adopt it.
If you do three things could happen while you are on your journey on how to learn to trade forex.
- You will lose money and time and you will quit
- Lose money and time and not quit and learn from it
- You will ignore your short comings and continue to lose money and time until; see points 1 & 2.
It is hard to ignore the instant elevated results advertised everywhere but you must remember the logical reason for why it isn’t accurate.
If you want to learn to trade then join us. Become one of the Able!
Not one of the quitters or haters.
How to Learn to Trade Forex requires a concise plan and here at Able Trading we have just that.
Able-trading.com has a verified and provided proof of their trading record over a 12 month period.
1st December 2018 – 1st December 2019
Check our performance page here
An Accounting firm have verified the trades and the performance also.
At Able Trading we want you to evolve as a trader.
How you learn to trade Forex with Able Trading You can learn to trade Forex like a Pro and not get sidetracked by glossy marketing and distraction.
Paying for a good education in Forex trading is the same as paying for a degree or collage course to obtain a skill for life.
Investing in yourself is the best way to start on a journey of change.
Thank you for reading.