No one on this earth born with the ability to invest in forex. All abilities are gained from learning forex consistently and take practice directly. The profits never fall by themselves from the sky.
Some people open a real forex account without being prepared with the learning basics as they have practiced and made some profits in their demo account. Indeed, learning forex on the demo account is important. But it would be much better if you take time to learn some learning basics or forex trading.
So, learning forex is about to understand that an effective and targeted education module is necessary for forex trading beginners. Therefore, forex beginners will no longer be disoriented for where and what to start learning forex.
Yes, of course, the best place to study is at school. We spend almost one-third of our lives in schools. You will find a school for you to learn how to become a doctor, engineer, architect, or anything else. But you wouldn’t find a school with tutors that teach forex trading comprehensively. So, to learn forex, you can learn by yourself by reading forex books or taking a forex class. However, believe it or not, you may also be able to master forex basic understanding by learning the four phases of forex learning for beginners, plus opening a forex demo account and start practicing.
How Much Money for Taking a Forex Course?
An individual forex trading course runs between $1,000 and $10,000. But the good news is that you may also want to learn forex trading from online articles for free or without being charged at all. So, if you are serious would like to start learning forex trading from the beginning, here we describe the 4 basic phases of forex learning where you should start.
By following this forex learning guide, you will no need to buy or invest anything. All you need to do to learn forex is keep reading the tutorials and take practices at your demo account. Once you’ve done with the basics, you can start a real forex account and start trading.
Each phase of these forex basics is designed to help a beginner understands the concept of trading. Starting from the macro description of forex investment to its smallest details. Once you enter to a higher level, you will be given more in-depth knowledge about the psychology of forex and money management.
To learn forex trading with these 4 basic phases, you shouldn’t half-earthed. It means that you need to keep learning consistently from that very beginning to the end of the learning materials.
The first phase of basic forex learning is Sitting Duck. At this stage, you will be learning the basics of general investment and a little understanding about forex trading advantages how it differs to other types of investments. This class is intended for common people who are still very new in the world of investment.
A glance about the Sitting Duck term, it’s because forex beginners are still vulnerable targets of various types of fraud and market volatility. The forex market has not been suitable for the “sitting duck” learners. This term represents a group of people who are looking the investment world merely about profit without knowing they are in a dangerous area as there would be a real predator lurking which we cannot be sure of. The danger is the market risk and the fact that the world of investment is more or less similar to the other types of businesses. It means, there are good people and bad people who are looking for potential preys.
The second class is the Walking Lamb. At this learning phase, you can start walking and no longer sit like a duck (fraud target). Lambs can recognize wolves and can move away to a safer place. But even so, lambs are lambs that run like a lamb. Not having enough ability to avoid the predator, let alone fight. So, at the walking lamb phase, you will be learning some advanced things about forex trading. And you will start to enter forex trading from the practical side and no longer pertain to the basic concepts which are actually just known enough.
The next phase is called Running Pig. It’s a bit vulgar, but most forex traders get stuck at this phase. A pig can run fast but it is difficult to turn left or right and not agile at all in the run. Pigs run quite fast, but don’t have enough ability to see what’s happening in front of them. So do how most forex traders act likewise. They think that by knowing one or two theories which have been proven several times in the past, they feel they have found the true keys of real forex trading and then enter start trading like a blind. The forex market is full of graves of traders like this.
Finally, the last forex learning class is Hunting Fox. It means not in a hurry to start forex trading but it does not mean timidity. In other words, dare enough to start forex trading but not in a rash. After you finish up this learning phase, it’s time to go in and attack, know the time to go out and when should be quiet while staring patiently. So, you would not be idealistic but realistic, adaptable to market movements smartly, and the hunting object is the market. Hunting could be dangerous, but people who prepared with this phase of forex learning have also prepared for all the possibilities that could happen. Not many can reach this stage. But once you trade forex at this stage, you can make profits from the market consistently.