subject: Trading Sydney Forex Education [print this page] Have you ever noted whilst the majority of novice forex traders try and shortcut their way to riches with the most recent automatic trading robot or swanky schamncy trading gizmo, they finish up blowing their trading accounts and giving up due to of frustration?
I have ... since one of the most widespread mistakes I notice with newbie traders, are their cravings to produce profits so quickly, that they forget to remember the plain basics of how to trade! With their minds squarely aimed on money, money, and more money, they seem to fail to remember -- like ANY real venture -- they need to study and understand the many basic ground rules of forex, like learning how to read candle stick charts (dont be concerned, its not like learning another language).
But you are unlike the rest of them. Youre passionate regarding forex and the wealth that follows once you tap into a couple of the top forex education resources on the internet. Below, I showcase for you two websites Ive personally used in my forex trading journey that should give you an immediate boost on your wealth creating journey:
1. BabyPips.Com - designed for beginners, by (former) beginners. These pros have a great online tutorial easy for any newbie to follow the moment you land on this website.
So they can easily relate to where your coming from and take you by the hand and guide you to success! After hours of searching, I discovered a former newbie turned millionaire who recommended I start here to get a crash course on everything I need to know about trading forex markets (because thats where HE started).
I went at my own pace, and there is no rush to complete the training from elementary, to graduating in pip college.
And if you dont know what a pip is, if you look at the far right tab it will say forexpedia.
Go there and you will find a quick rundown of numerous forex jargon and expressions. By far, one of the most handy sections of the whole website when you are stuck on the meaning of a word (remember: if you dont know what basic expressions like stop loss or margin call means, you have no business trading in the first place)
Another helpful benefit of baby pips is they show you various technical and fundamental methods you can use straight away in assorted ways to give you a sight edge in the markets -- from learning how to do news trading, scalping, swing trading, or long term trading.
Overall, a stunning website that will help you kick start your forex trading career in a heartbeat.
2. ForexFactory.Com - This website forum is for highly developed and skillful forex traders
Like a baby bird leaving the mothers nest, you will eventually crave to venture futher and spread your wings to fly to new heights.
After graduating from the beginner level after doing a few hundred demonstration (dummy) trades, you will be keen to move up and try your hand at trading a REAL, live forex account with funds.
One of the top places I located to make this a smooth, painless transition was the forex factory for better, more in-depth training and to prepare you for the psychological and mental aspects of it all (like rapid bursts of money from a splendid trade).
I tried going to this forum before it was my time to graduate from baby pips, and most of what is talked about you wouldnt know what is going on. Its like a secret language or Morse code of forex strategies, tips, and methods only experience can decode. So, be patient with yourself and learn all you need to learn from the first website before you jump the gun.
There you have it, two of the BEST online forex education websites there is. Of course, there are many, many morebut I knew this would be a good start for you to wet your appetite a little until next time.
