subject: How To Find The Best Free Forex Training [print this page] Every day more and more people are becoming interested in learning how to trade the Forex. Many wonder if there is any free Forex training available.
If you're one of those people this article is just what you're looking for. We'll take a look at why Forex trading is so popular, where to find free Forex training, and what to look for in a Forex training course.
The Forex, or foreign exchange, in terms of cash value is the largest market in the world. Banks, multi-national corporations, governments, individual speculators, and more trade currencies on the Forex. The goal of each and every one of these traders is to profit from the price movements of foreign currency pairs.
Why Trade the Forex?
FX trading is very popular for a number of reasons. Here are some of them:
1. You can trade the market twenty-four hours per day, five and a half days per week, from virtually anywhere in the world.
2. Unlike stockbrokers, Forex brokers do not charge a commission.
3. You can start with relatively little money. You can also leverage your investments and have the potential of enjoying substantial returns on your investments.
4. Unlike the stock market, which has an uptick rule for shorting stock, if you feel that a currency will go down you can sell it at any point in time.
5. Because it is such a large market the FX is a highly liquid market. This is especially true if you focus on trading the major currencies.
Where Can You Find Free Forex Training?
Like just about every other piece of information you might be interested in, you can get free Forex training on the Internet. A recent search yielded 706,000 results.
Obviously some training is better than others. So what should you look for?
What to Look For In a Forex Trading Course
If you are just starting out you could be overwhelmed with your choices. Because your money will be at risk should you ultimately decide to trade the Forex, the quality of your education will have a direct bearing on your results. If you choose the right forex training you can earn a very nice living. If you choose the wrong forex training you can easily go broke.
At the very least you should first become familiar with the terms used in the Forex and understand their meanings. Terms such as stop loss, trailing stop, currency pairs, pips, leverage, fundamental analysis, technical analysis, trend lines, support, resistance, chart patterns, bull market, bear market, trading systems, money managementthe list goes on and on.
Once you have a basic understanding you will have more of a feel as to the direction you want your education to take.
Because a large percentage of professional Forex traders use technical analysis it would probably be in your best interest to get a very thorough understanding of not only what's available, but what aspects of technical analysis you should focus on.
Like most other things in life, there's no such thing as a free lunch. Although free Forex training is a good way to start your education, it can take you only so far.
Once you have taken a number of free forex training courses and you know what you want to look for in your education, you may want to consider buying the best training you can afford. If you're like most successful traders, the cost of your education will be comparatively cheap compared to the amount of time and money you can lose if you learn the wrong things.
