Don't Pay Gurus to Learn to Trade Forex
Learning the art of Forex trading has grown in popularity. However one has to wonder if spending a significant amount of money is really necessary to gain the required knowledge and experience in this area.
It not necessary to pay thousands of $ to learn to trade profitably.
First and foremost, there are a ton of free internet tools that may help you gain a solid understanding of the fundamental concepts of forex trading. One great site is www.babypips.com. It will teach you the fundamentals and the lingo of the forex world. Other sources include free eBooks, online communities, blogs, video tutorials (checkout YouTube), and forums. Also, a number of brokers provide free instructional materials including seminars, trading guides, demo accounts, and webinars to help you gain the necessary information and skills.
It is practice and experience that are the most important. Trial and error are necessary to perfect the art of Forex trading. It is crucial to understand that this is not a skill that can be acquired through a single training session or program. It takes time and effort to get the knowledge necessary for profitability in forex trading; successful traders do not become successful over night !!!.
Also, buying a program or training for Forex trading does not ensure success. Although these programs might give you a strong basis, making a regular profit requires the application of information and expertise, which necessitates practice and experience.
Investing in a training school or program for Forex trading may prove to be costly, often in excess of $5,000. Your money could be better spent on alternatives that could potentially yield greater returns than such a program. So, it is important to weigh the opportunity cost of investing in a Forex trading program.
Paying for education may not be essential given the abundance of free online materials, together with the value of practice and expertise in Forex trading. A decision should also take into account the prevalence of frauds and the high expense of such programs.
One final tip, start practice trading with 0.01 size lots. 10c is a lot easier to loose than $1,000.00 when go live.
Below is a link to a free site that you can look at.
Trading with Dan
https://discord.gg/2ZZzxHpZAt
You will need to open a Discord account, but it is free. Dan has a lot of really good information on his discord channel.
In our next blog we will talk about Forex Signals and whether you should use them.