What are the best Forex trading learning resources to use?
I could be a bit biased with this one but Reddit has some amazing resources to start with. I recommend it to everyone because the guides and links to resources are made by the trading community so you know that they will point you in the right direction. Just remember that the reading material is only the beginning and that you are embarking on a very long journey. It may seem easy at first but trading is a big commitment and requires a lot of time. You can also ask around in the day trading subreddit if you need more info or explanations.
When you start feeling confident that’s when you should start with a trading simulator that will put you in the trading environment and give you a feel of the real thing. This is very important because all that knowledge that you gather will make you feel like you are ready for the real thing but self-control can’t be thought from books. Simulators give you an opportunity to test your skills and discipline, see what you are doing wrong and analyze your mistakes. When you start making steady profits within the simulation, that’s when you should get into the real thing with a small investment because this is the third and hardest step in becoming a successful trader. It’s one thing when you are trading with virtual money and another when your actions have consequences on your trading capital.
Good luck!
I used a combination of ebooks, trading guides, apps, online market blogs, and podcasts when I first started to learn about Forex. Start with a good ebook like http://forexillustrated.com/forex-trading-pdf/. This Forex trading PDF will teach you all about the basics of trading, as well as crucial strategies that will help you to be successful.
I’d also recommend trying out a virtual trading game to practice on a fake Forex market before you invest any money. This allows you to get a better feel for the market and hone your skills in a risk-free environment.
