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According to a 2022 survey, the daily trading volume in over-the-counter foreign exchange (forex) markets in April 2022 reached $7.5 trillion, a 14% increase from three years earlier.
Based on these figures, you may think the forex market has a great potential for profitability, and if you’re curious, it may spark interest in trading in this market.
However, before opening an account with a forex broker and trading in real time, you must first learn the basics.
Where can you find educational resources or trading courses for learning forex? How much do these lessons and tutorials cost? What benefits can you get from taking forex trading courses?
This article discusses the educational resources available for learning forex trading. This article also explores the costs, the required time to learn forex and the advantages you can gain from such courses.
Whether you’re a beginner or an experienced trader, choose an online platform that caters to financial traders of all levels and offers a variety of financial markets, including forex.
Forex Trading Courses
As technology advances, forex trading software and financial tools also continuously evolve. This fast-paced development creates many opportunities for traders to enter the foreign exchange markets.
Through Everything Trading, you can access learning resources for financial traders of all levels. This platform provides a community experience to develop your financial market knowledge and improve your overall chances of trading success.
Examples of learning resources that Everything Trading offers include the following:
- Trading courses
- Trading tools
- Trading webinars
- Trading e-books
- Trading coaching
- Trading communities
What Courses Are Similar to Forex Courses?
If you want to take forex courses, you should also consider taking day trading and stock trading classes.
Day trading involves selling and buying securities within a day, sometimes within seconds. This strategy is common in the foreign exchange (forex) and stock markets.
Meanwhile, stock trading is buying and selling company shares in the stock market.
You can take Everything Trading’s courses to further your understanding of trading concepts and other markets connected to forex. A broader understanding of this subject can help with personal and professional development.
How Much Do Forex Lessons Cost?
Everything Trading offers unlimited access to free courses, webinars, and e-books about trading.
If you want to participate in advanced trading courses and other resources, Everything Trading offers ET+, which gives you access to $25,000 worth of trading tools for only $99 monthly.
Also, having an account with a partner broker gives you free and unlimited access to Everything Trading’s educational resources.
How Long Does It Take to Learn Forex?
If you’re a new trader, learning forex trading can take more than just a few days. Your time learning forex trading depends on your commitment, capacity, and willingness to learn.
There is also no absolute requirement to learn forex within a specific period. You can learn at your own pace as long as you can access your learning resources.
How Many Months Does It Take to Learn Forex?
Covering the basics can take months, depending on how much time and effort you spend learning forex trading. Learning about technical analysis to help predict price movements may add a few more months to your learning timeline.
You should also consider studying trading psychology, as this concept can influence how you make trading decisions.
Are Online Forex Trading Classes Worth It?
You may spend hundreds or thousands of dollars on a forex trading course, but whether such a class is worth your money depends on what you expect to learn and whether that class meets your expectations.
Becoming a full-time trader will likely require more than just learning the material yourself. In this case, consider taking a comprehensive, high-quality forex trading class.
When choosing a learning platform, one way to get your money’s worth is to select a platform that provides free online courses. This way, you start learning even before investing real money (by way of more advanced trading courses).
How Do Beginners Learn Forex Trading?
As a beginner, you can spend hours browsing online for educational content on forex trading to help you study the matter yourself and still miss essential topics without a mentor or professional guiding you.
Enrolling or signing up for online educational courses can be a more efficient way to learn how to trade. These courses will likely have experts curating content relevant and helpful to beginners and advanced traders.
Where Should You Start Learning Forex Trading?
You have several ways to get started with a high-quality forex education: watch videos, join interactive courses, attempt quizzes, and participate in student communities for sharing knowledge.
Another way to learn forex trading is through free and well-explained lessons from a comprehensive learning platform like Everything Trading.
Learn How to Trade on Forex Markets With Everything Trading
Everything Trading provides education and training opportunities so you can learn how trading and financial markets work.
Currency trading courses can teach you about forex trading strategies, market analysis, money management, price action, volatility, trading systems, and how to create your trading plan.
Although the courses are suitable for beginners, experienced or professional forex traders can also use these courses to advance their knowledge and skills to help improve profitability in forex markets.
What Makes Everything Trading So Unique?
Aside from offering free courses, Everything Trading provides trading opportunities with a partner broker so you can trade financial instruments like stocks, forex, indices, commodities, metals, and cryptocurrencies.
This partnership allows you to set up a trading account immediately after or while learning through Everything Trading’s courses and webinars. With this account, you can access Everything Trading’s next level of classes through ET+ for free.
Our Forex Trading Course Will Give You Access to the Following Features
The following sections discuss what you can gain by opening an account with Everything Trading.
Education
Everything Trading’s trading courses allow you to learn trading from industry professionals.
The platform’s library of trading books can help you learn to become a better trader.
Suppose you’re browsing online from your home. Everything Trading’s webinars let you learn trading with live professional instruction without going to a classroom.
Community
Starting your forex trading education with Everything Trading enables you to gain access to a trading community where traders can gather and exchange ideas, information, and strategies.
Mentoring
Everything Trading’s training courses include expert coaching to help you make the most of your trading career.
Student Meetups
When you join the Everything Trading community, you get access to sources of information, such as student gatherings, via the platform’s free-to-use member area. Hence, this feature creates a collaborative experience.
What Is Forex Trading?
Forex or F.X. trading is how you trade one currency for another to gain a financial advantage.
Most forex trading occurs on the spot market, where you can sell and buy currencies at the current price.
Compared to stocks, the forex market has no centralised exchanges where trades occur. Instead, the global network of banks and financial institutions runs the forex market.
How Does It Work?
Forex usually trades as a currency pair, wherein you buy one currency while simultaneously selling the other.
Some of the most commonly traded pairs are the euro-U.S. dollar (EUR/USD) and the British pound-U.S. dollar (GBP/USD) pairs.
When you speculate on forex prices, you don’t necessarily have to trade the physical currency. Instead, you predict the direction of the price movements and trade derivatives, which are contracts based on the underlying asset’s value.
By buying and selling derivatives, you can trade currencies and profit from the price movement without possessing the physical asset.
Is Forex Trading a Good Idea?
Forex trading can be a viable way to earn extra cash from the comfort of your home, but like any trading it involves risk. If you can commit time and effort to learning the forex market’s ins and outs, it can offer several benefits, like ease of entry and low capital requirements.
By gaining enough trading experience, know-how, and the ability to control your emotions, forex can help you potentially generate income whether you are a part-time or full-time trader. But remember, there is always the risk of financial losses.
Forex trading can be difficult to learn if you don’t invest the necessary time or willingness to commit to a rigorous learning process. Worse, forex can turn into a loss-making nightmare.
You can be a good fit for forex trading if you have the requisite knowledge, experience, discipline, and patience to learn from your mistakes.
FAQs
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Can you teach yourself forex?
You can teach yourself forex trading by reading books and watching educational videos, but what if you encounter topics that are difficult to understand?
You may need help from a professional trader who can explain and clarify confusing topics.
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Can forex trading be profitable?
As long as you have the proper knowledge, skills, strategies, and risk management techniques, forex trading can be profitable.
Trading courses can teach you how to improve your profitability and limit your exposure to risks associated with forex trading.
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What is the best way to learn forex trading?
One of the best ways to learn forex trading is by studying the currency market under a skilled, experienced professional who has spent years participating in the forex market.
A veteran trader has proven experience and knowledge that may help improve profitability and minimise risks.
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What difference is there between technical and fundamental analysis?
Technical analysis involves observing historical price movement, current industry conditions, and potential market changes.
These factors can help you predict future price movements and identify entry and exit positions.
Meanwhile, fundamental analysis focuses on overall economic factors like interest rate, international trade, employment rate, gross domestic product (GDP), manufacturing, and the relative impact of these factors on their respective nation’s currency value.
Technical analysis may work for short-term and day trading, while fundamental analysis allows you to analyse long-term trends.
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What is Metatrader 4 and what is it used for?
MetaTrader 4, or MT4, is among the most popular online forex trading platforms worldwide.
MT4 allows you to implement your strategies and offers analytical tools like financial news alerts to help you prepare for unexpected price changes.
You can download MT4 free of charge to your desktop computer or mobile device.
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What is candlestick trading and how is it used?
Using a candlestick chart is one way to analyse price movements based on your chosen security’s past patterns within a specific period.
Candlesticks represent four price points:
- Open: The asset’s opening price
- Close: The asset’s closing price
- High: The highest price the security reached in a specific period
- Low: The lowest price that the security dropped within a particular period
The candlestick’s “body” represents the price range between the asset’s open and close within the trading day. A filled-in body means the close is lower than the open, while an empty body means the close is higher than the open.
In some charts, a down candle can have a red shade instead of filled-in, while an up candle can have a green shade instead of empty.
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Is it hard to learn forex trading?
The ease or difficulty of learning forex trading depends on you. However, if you’re into finance, the economy, and numbers, you may have little to no problem learning forex trading.
Consider allocating enough time and patience then joining trial and error activities to develop a profitable long-term strategy.
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Is Everything Trading good for beginners?
If you want a learning platform that caters to all types of financial traders and has a community that can help you develop your financial market knowledge to improve your chances of success, consider Everything Trading as your platform of choice.
Everything Trading’s mission is to help you earn money from the financial markets using advanced trading and analysis tools. So, it’s best to believe that in trading, knowledge is power.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial advice. It is not intended to be a recommendation to buy or sell any financial instrument or engage in any investment activity.
While we strive to provide accurate and up-to-date information, we do not guarantee its completeness or accuracy. We rely on various sources for the information presented, and we cannot guarantee the reliability or accuracy of these sources.
The information provided here does not necessarily reflect the products or services offered by our company. Any mention of financial products or services is for informational purposes only and should not be considered an endorsement.
All investments involve risk, including the potential for loss of principal.
This information should not be considered as financial advice. You should always seek professional financial advice from a qualified advisor before making any investment decisions.
References
- OTC foreign exchange turnover in April 2022
https://www.bis.org/statistics/rpfx22_fx.htm
- Day Trading: The Basics and How to Get Started
https://www.investopedia.com/articles/trading/05/011705.asp
- Understanding Basic Candlestick Charts
https://www.investopedia.com/trading/candlestick-charting-what-is-it/
