HOW TO ... LEARN FOREX
To learn Forex Trading, one must learn about Forex and one must learn about trading; while it is not always easy to separate one from the other, it may be more useful to attempt to look at these as two disciplines separately at first. Each requires a deep understanding of its own, each offers numerous and assorted ways to learn it.
To begin, one should always learn the Forex (foreign exchange) market first, even if only its basics, and even if only in a crash-course. There are many ways in which one can do so: one could choose to study the Foreign Exchange market formally, that is to say, via online classes, webinars, and/or via seminars, lectures, tutorials, university classes, or one could also choose a less formal method, that is to say, via (online or not) forums, private/public/interactive communication with experts, professionals, and even other students of Forex.
Basic knowledge that should be acquired before beginning to trade forex includes: Forex terminology, Forex symbols, Forex charts and graphs, history of the Foreign Exchange market, historical data, evolution of currencies, worldwide monetary systems, market activity, market trend, financial instruments, market professions (-the meaning of brokers, investors, consultants, etc), political factors that affect the market, economic factors that affect the market (-for example: interest rate, GDP, employment rates, etc), behavioral finance, psychological factors that affect the market, and last but not least, theories.
Once one has sufficient theoretical knowledge, one could go on and learn trading. Trading is a skill, and like any other skill, it needs to be practiced and practiced in order to be perfected. Practicing is almost the best mental training tool. This is why, when it comes to trading, the most useful way to learn forex trading is to practice (various trading platforms not only offer their services for free, but enable user to practice with demo money and with real-market rates, i.e. coming as close as possible to real forex trading but without having to risk losing any money). Via trading simulations, one could feel trading out; via trial and error one will know which trading techniques suit him/her best, which long-term transactions work, which require overnight trading, which need to be short-lives, how to control risk.
Having learned a satisfactory amount about the Foreign Exchange market, one could almost intuitively apply the theoretical knowledge into the practice of Forex trading. For example-if a news release came out about an increase in the unemployment rates, one should immediately be alarmed, for higher unemployment rates are not good for an economy, and will have a negative effect on it, which in return will have a negative effect on that country's currency. One, of course, will then act accordingly (sell or buy a certain currency as a result). This is to say, that the more knowledge one posses, the more s/he will be able to navigate the world of Forex automatically, for s/he will understand terms and charts (and follow their constant updating) and will know how to react fast to the release of economic news.
Studying never ends. It is important always to keep oneself on a learning curve; to stay in tune with this ever-growing market. One could always read books, magazines, visit blogs- and of course, read the newspapers; one's awareness to what goes on around him/her is a key component in becoming an experienced trader.
HOW TO ... LEARN FOREX ON ETORO
New to Forex, or familiar with Forex yet still overwhelmed and daunted by it?
You've come to the right place, because eToro has created a platform that holds within it all the necessary tools that could teach you how to trade Forex.
eToro is proud and glad to have created the platform with which individuals can learn how to trade Forex, for the Foreign Exchange market is not only one of the largest financial market in the world, but also one of the most fascinating ones.
The idea behind the establishment of eToro was to democratize the Forex market; to create a platform that teaches, encourages, and educated any individual who is interested in the Foreign Exchange market. Trading Forex requires a lot of know-how, and on eToro we provide traders with all the Ins and Outs, the essential information and tools, because we want our traders to gain the deepest understanding and knowledge of the Foreign Exchange market.
eToro has simplified the "look" of the Foreign Exchange market, transforming it into an attractive and visually-engaging one. And just like with the visuals, we have transformed every other aspect of trading as well; we have analyzed, unscrambled, and redefined matters-from market trend to trading communities, from glossary to practice championships. We included step-by-step guides, tips and rules as well as 24-hours customer support of the highest quality. We have included a Forex simulator-where you can trade with real-market rates but with virtual money, and are confident that with us, you will acquire all the necessary decision-making tools.
Before jumping into the cold water, eToro highly suggest that you take the time and take full advantage of what eToro has to offer, as to best capitalize on the Foreign Exchange market. We are confident that by using eToro, the Foreign Exchange market will become exciting and manageable, and that you will become a trader of many skills.