FX Training: Why You Should Put Down the Book and Get on Your Platform

foreign currencyIf you’re just starting out in the world of trading, it can be an extremely daunting time. Training on the Foreign Exchange (Forex) markets is not as trivial as it might at first appear, but it isn’t impossible, given the right amout of training. Unfortunately, training can lead you down a rabbit hole of textbooks and theory that can actually be detrimental to your progress if you let it take over.  What you need to do is stop theorizing and start doing.

Getting Bogged Down in Theory

Forex is a complex subject, and like other complex subjects, your mind might immediately turn to textbooks. With literally hundreds of trading techniques and variations on method, you might be under the impression that jumping into trading might be something to be avoided.

This is because you’re playing with real money. If you’re using a platform like the one offered by Alpari, you’ll have to put down a minimum of $200, and without the right experience you could lose it quite easily. Despite this, turning to textbooks and theory would be a mistake, as we explain below.

Bogging yourself down in theory means that you’re not going to receive the first-hand practice that you need in order to be successful. As with any new skill, you need practice. Take swimming, for example. When you’re young and you’re learning to swim, it seams like an almost impossible task. Despite this, you don’t sit by the side of the pool and read about how to swim; you get in and start from the basics. This is how it should be with trading. You need the experience, and you don’t need to spend all of your money to get it. Actually, you can get it for free.

Free Trial Account

Instead of making real trades and investments that could, ultimately, lose you a serious amount of your capital if you make the wrong decisions, you can create triil accounts that let you place virtual trades to help you grow and practice.

This means that you can take advantage of all of the tools, training, and information that those who are on real accounts have access to, but without the risk of actually losing any money. Of course, any wins that you would have are virtual, too, so it’s swings and roundabouts.

Connecting to Learn

 No learning takes place in a vacuum. With the advent and proliferation of social media, we are living in more of a connected world now than we ever have been before. This has been applied to trading platforms such as ecn metatrader as Trader Connect, which allows traders from all around the world to discuss their trading strategies, display their graphs and charts to show others where/when to use particular strategies, and to ask questions about the basic features of Metatrader 4/5.

Ultimately, this would be a far better learning environment than a textbook could offer because it’s active – it allows you to practice your skills in a safe and encouraging environment.

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