‘To bring educational resources and personal experience to traders and Investors alike. To save you time and improve your financial performance'
Where to start?
I believe you need to ask yourself several questions if you have an interest in forex trading training.
- Have you thought how you wish to take up forex trading training?
- Are you a complete novice?
- Are you looking for free training?
- If not what is your budget?
- What time do you have to study
Choices of accessing forex trading training can be either from physically reading a book, an e-book online, a webinar, again from online or signing up with a reputable forex trading training company.
If you are a complete beginner you may start your studying from a physical book/ or e-book. You may be invited to attend webinars online. You could purchase a DVD course but eventually, you are going to find that you will have to engage with a forex trading training company.
This would ensure an all-round education and probably save yourself money, learning what to avoid doing to make costly mistakes in your training. If you sign up with a reputable company, of which there are many may improve your chances of success.
In my previous post, I discussed terminology used in forex trading and this may assist you in your research for forex trading training and I also give a brief outline of different topics included within forex trading.
My intention with these posts is to gradually build on the information available to provide you with the basis from which to build your forex trading knowledge to give you choices on what you would like to pursue.
Free training is available in that you could take out books from your local library and this could be the beginning of your training. It is possible to access free training from the internet but at some time you will need to practice what you have learned by trading on a platform.
Again this can be free in that there are some platforms that offer demo accounts for you to practice on or you could sign up to a brokerage company and be given a demo account.
A demo account is where you are given play money to work with, for example, $10,000 this gives you what is called paper money to try out your trading strategies to find what works best for you without risking your own money until you feel confident enough to trade.
However, it does not test your emotions, until you are trading real money you will not fully understand risk management and greed.
Advantages of Online forex trading training
If you have a budget to put into your forex trading training, you can actually save time, money and effort by signing up to a reputable company offering mentors to guide you through a specific pathway to ensure that you access all the different trading strategies.
This will enable you to understand each area of trading before moving on through the training process. You will also be able to paper trade to test your skills, risk management and gain experience.
An introduction to The Apiary Fund
Back in 2016, I received an email with a 30-day free trial of the Apiary Fund trader development program. I have checked and the 30-day free trial is still current you can find it here :
The development program
As said before paper trading is totally different to trading real money when emotions can take over and cause you to take bigger risks and lose your account completely or at least take a significant loss which will be difficult and take a lot of time to recoup.
Forex trading training can fit in with any full-time employment in that you can train at different times in the day to suit any working schedule.
In your training, you will be able to access different forex trading markets all over the world primarily the London stock exchange, the New York Stock exchange and the Asian market, Australia and Japan.
Another advantage of online forex trading training is that it can be completed from a laptop from anywhere in your home or outside of the home. You can take your laptop out and about so you are not tied to a room in your house.
Woman trading currencies online on forex trading platform.
You will obviously need a secure network once you start trading with real money to protect your account but while you are training with paper money the risk is reduced.
I personally take my laptop with me where ever I go and have invested in a dongle to allow me WiFi access wherever there is a mobile signal. I can trade sitting in the car, in the library, while visiting family. As long as I keep my passwords safe I have a mobile business.
Man trading on the beach.
Online forex trading is an ideal business to get into if you are looking to make money online. It is something that you can develop while still working full time while you take on the intense training and then consolidate your training and gain experience.
This enables you to develop your trading account before you make the decision to make this your full-time business. If you day trade or trade long term you only need to check your trades at the end of the day and make the necessary changes to ensure your trades are following the trend and your profit is growing.
Obviously, if the trade looks as though it is going in the wrong direction you would allow some wiggle room but exit a trade that is losing you money.
You will learn risk management during your forex trading training to protect your account and I discuss this in previous posts.
I wish you good luck should you decide to take on a forex trading business, but please ensure you have undertaken a reliable training programme before trading with real money.