Learn Forex Online - Where to Start and What to Be Weary Of

If you are looking to learn forex online, there are certainly a ton of different venues to choose from. You've got literally dozens of different kinds of forex forums, where you will find thousands of different forex traders that you can communicate with. It's a great way to learn about forex trading, but I do want to wish you a word of warning, however. Don't fall into the trap.

I know that sounds rather ominous, but that really wasn't my intention. It's just that I have seen many traders get really complacent when they are starting out with trading due to spending most of their time on forex forums, instead of learning about what it actually takes to trade for a living.

As fun as the forex forums are, they are filled with people who have been trading on demos for years who have never actually risked a single dollar, trading. This is like going to a cycling forum, and taking instructions from somebody who still rides on training wheels. I know this sounds ludicrous, but that is what happens to a lot of people.

There is a reason for it. Many people are busy looking for this incredible holy grail, that is talked about so much in the trading community. Certain traders feel like there is something out there, that if you just input it into your trading software, you will NEVER have a losing trade and you'll be a millionaire by the end of the year.

Until that day comes, they will not trade a single penny on the market. Well. let me be the bearer of bad news. There is no such thing as the holy grail. It's a myth or urban legend. It's the kind of thing that many people claim to have seen, but you'll be hard pressed to find any visual proof that it exists.

If you want to learn forex online, then do it! The important word, however, is learn. This means that I don't want you to think that there is some magical piece of software will tell you exactly when to buy or sell by placing arrows on your charts.

If you really want to learn forex (at least from the technical analysis side), I strongly suggest that you understand the concept of price action. This is where you can look at a simple price chart, like a bar chart, and be able to understand what the market is actually doing.



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