Currency Trading For Dummies
There are many things that lure people in to currency trading. For some it’s the attraction towards an independent lifestyle where one can make big money without ‘working for the man.’
For others, it’s the ability to still maintain their day job, whilst earning a steady income on the side through being able to trade for just 60 minutes a day.
Our Forex Courses are combined with the real-life experience, success and practical knowledge of our trader coaches, bringing you the best of both theory and practice, to maximise your trading success.
To see the full Currency trading for Dummies article please go to the bottom of this page.
4 Simple Steps to Learning to Trade Forex with Learn to Trade
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What Trading style Suits your lifestyle?
One of the biggest mistakes people make when it comes to currency trading is believing that they can teach themselves the appropriate strategies and techniques that it has taken seasoned traders years to learn.
If you ultimately want to trade currency in the long term and earn a solid income on the forex market you need to learn the basics and the best trader tips from the experts that have real-life experience currency trading.
Don’t waste thousands of dollars trialling the tips and hints you’ve learn’t from an article you’ve found online. Invest in a solid currency trading course that will give you the foundation of knowledge you need to grow exponential wealth through trading forex.
At Learn to Trade we have a range of courses to meet your specific needs. If you are new to trading and want to find out more about the forex market attend one of our FREE workshops to learn how Forex can help you tap into a world of unlimited wealth creation.
Do you have what it takes to trade on the currency market?
Anyone who wants to learn how to trade on the currency market can become a successful trader. The question is, do you have the determination and perseverance required to become a successful Forex trader?
*Are you prepared to lose? The fact of the matter is, there will be occasions, especially when you are starting out, that you will lose money. When it comes to being prepared for this, it’s all about ensuring you manage your risk accordingly, which is something you’ll learn from a professional currency trading education provider.
*Will you be able to hold back until the time is right? A successful trader understands that it’s important not to be too gung ho when it comes to trading. Those who achieve success trading currency know when to resist trading and be patient, and when to trade if an opportunity presents itself.
*Can you keep calm and carry on under pressure? Trading requires you to remain calm and collected when you are faced with a high pressure situation. In these instances, it doesn’t help to get emotional and stressed about what’s happening. You need to be able to keep a clear head and carry on.
*Can you hold yourself accountable? Ask yourself the question, after or before work each day, do you have the discipline to do the research and keep yourself organised when it comes to your currency trading? It’s easy to get off track and let the important trading principals you’ve learnt during your training fall by the wayside. Getting into good habits early on is paramount to your currency trading success.
* Are you prepared to work hard and hone your skills? No matter what new skill you want to learn, if you want to get good at anything you need to put in the hard work and study. You’re not going to achieve success overnight. By no means is forex trading a get rich quick scheme. It’s something you have to master, and if you can, you will be opening yourself up to unlimited earning potential.
Did you answer ‘yes’ to the above questions? Then currency trading could be right for you. To find out more download our FREE video course today to start your forex journey now!
The currency market or foreign exchange market (also known as the forex market for short), is one of the largest markets in the world and operates on a global scale.
On the currency market, one currency is traded for another simultaneously. The aim of the game is to speculate exchange rate movements to make a profit.
Because the currency market spans across the globe it’s in operation 24/7, so you can trade anywhere, any time.
The importance of learning from a professional trader and not a theorist
Many people eager to learn how to trade currency fall for trader software companies or currency trading theorists who don’t actually have any practical experience trading on the forex market.
These people lose their steam before they even begin as they are unable to work the complicated software and the theory that they’ve been taught doesn’t quite match up to how trading really works. If you want to become a successful currency trader you need to learn from seasoned professionals who have succeeded trading on the currency market.
At Learn to Trade, we believe that the only way to ensure our clients achieve success on the forex market is to provide them first with the background knowledge and expertise required, using forex strategies to trade successfully, then give them the opportunity to be mentored and guided by a professional trader in a real-life trading environment. We have a live trading floor in our office, so you are right where the action is, throughout your learning experience.
Want to begin your forex trading journey today? Stop putting it off and take the next step to living the life you’ve always dreamed of. Contact us now to speak to one of our forex trading education specialists.
Technical analysis involves predicting price movements and future market trends by looking at the movements in the market in the past. It’s so important to understand technical analysis because it will allow you to be able to meaningfully view charts and understand why certain price movements (price action) occurred.
The two key principles technical analysis is based on:
1. Price is paramount- The price of a currency represents all known factors that influence the currency market including supply and demand, economics etc.
2. History repeats- Technical analysis is all about identifying patterns in market behaviour and looking at the chances of whether these market behaviours are going to repeat.
Charts are the main tool used by those who use technical analysis to make predictions on the currency market. Other tools used for technical analysis include technical indicators, trend lines, support and resistance lines.
When technical analysis is used effectively, traders find entry/exit points with favourable reward/risk characteristics so you can align your trades with the future currency direction as suggested by the fundamental analysis.
Fundamental analysis involves looking at the impact of certain economic, political and social factors and their influence on the value of a particular currency. This includes things like interest rate announcements, unemployment data, GDP data etc. On a grander scale, it also looks at the impact that global economics has on the forex market too.
Fundamental analysis is all about looking at the long-term factors that influence the direction of a particular currency. It does not take into account short-term price fluctuations.
IMPORTANT: The strongest entry/exit signals occur when important fundamental and technical signals coincide.
With the right training and background knowledge you’ll be able to see for yourself the benefits of learning both methods for analysing the currency market. It’s important to have a strong grasp of both forms of market analysis before giving preference to one over the other.
At Learn to Trade we understand that when you are just beginning to learn the keys to currency trading, it’s important you have the right learning environment to work in, and the right people to guide you on your journey.
If you want to start making money and get out of the rat race, or even if you simply want to build a solid nest egg for your retirement, we can teach you how to make a healthy profit through forex trading.
At Learn to Trade, we live and breathe currency trading. We are passionate about what we do, and as real, successful traders, we can teach you how to trade in a live trading environment where you can gain the knowledge and experience you need to succeed at trading forex. Stop dreaming about it and take the next step to living the life you’ve always dreamed of.
Call us today and talk to one of our forex trader training specialists to find out which training program is right for you.