Friday, March 21, 2008

Forex learning

How to learn forex.

Forex is fast becoming the hottest market for retail traders, and work from home professionals. Many new traders are trying to learn Forex from books, but that is a difficult way to learn. It's OK for the basics, but once you have them down, you are still left standing on your own, in a challenging market. A better way to learn Forex is from a live mentor. A mentor that is willing to trade with you in live market conditions.

The traditional way to learn Forex trading is via textbook. Some people learn very well with this method and can translate the written word into something that works in the real world, though many find this very difficult to do.

The popular method to learn Forex trading is to buy an e-book, course or go to a seminar. All of these options will require you to learn to trade in a theoretical way. What I mean by this is, you will learn techniques, theories and tricks that do work but are still only theory until they are applied in the real market.

Many people simply cannot learn from a book and get confused with information overload. The problem is it's hard to know what technique to apply, in different circumstance. You can literally suffer a problem known as paralysis through analysis

After you have all the theory under your belt, there is no better option than learning from a live trader. A mentor will be able to show you how to read the market, what effect news will have, what times to avoid, and many other hidden factors that are almost impossible to list in one publication. This is a process of learning Forex through osmosis

Trading in a live market, gives you the advantage of real world situations. But trading a live market alone, will probably leave you pretty stressed out. By using the services of a live mentor, you can avoid much of that stress, and more importantly avoid making costly mistakes.

What better way to learn Forex than to have an experienced trader right there with you. This author would have paid thousands of dollars to get that experience at my fingertips.

Trading is a series of what I call "a-ha" experiences. It's not the knowledge that gets you to where you need to be, its only part of the journey. What gets you to where you need to be, is passing each trading milestone, as the lights of understanding go on, you'll be glad you took the trip with somebody who knows the way.

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