![\"how-to-trade-forex\"](\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/how-to-trade-forex.jpg\")
<\/p>\n<\/p>\n
I get emails asking me how to get started in Foreign Exchange trading. Essentially, these people are looking for a guide on how to trade Forex, for beginners.<\/p>\n
There is a lot of great trading education out there, but there is also a lot of noise.<\/p>\n
Many times, well intentioned education sites try to teach you everything under the sun and end up confusing you instead.<\/p>\n
Forums can be even worse, since anyone is free to give their opinion, regardless if they are qualified to do so or not.<\/p>\n
This post will show you the simple four step process for getting started in Forex trading.<\/p>\n
It is the result of my personal experience and observing many aspiring and professional traders alike, since I started this blog in 2007.<\/p>\n
So if you are just getting started in Forex trading and don't know where to begin, this post will give you the shortest path that I know of to overcome confusion and head down the right path.<\/p>\n
I will also tell you which trading courses I have taken and recommend, to help you on your journey.<\/p>\n
The first thing that you need to learn about Forex trading is not a system or fancy indicator.<\/p>\n
It's not an economic report or trader sentiment either. The most important principle is…<\/p>\n
Let me say that again because it really is the most important concept in all of trading.<\/p>\n
Even if the best trader in the world<\/a> uses a system, it may not work for your personality and schedule.<\/p>\n A day trading system probably will not fit people who work a day job or get nervous when they have to concentrate on a perfect entry and exit.<\/p>\n Likewise, some people may not have the patience to sit on a longer term trade.<\/p>\n So instead of trying to find the perfect trading method, start by figuring out your personality and what trading method would work best for you.<\/p>\n That will help you seek out the right kinds of traders and education.<\/p>\n Some things to ask yourself are:<\/strong><\/p>\n Those are just some of the things to consider. Remember, the key to winning in the trading game is to trade a method that plays to your strengths<\/em>.<\/p>\n Don't let anyone tell you otherwise.<\/strong><\/p>\n One thing that never ceases to amaze me it how people “study” Forex trading for months, but never place a demo trade.<\/p>\n I have written about this before<\/a>, but I think it certainly needs to be mentioned again.<\/p>\n If you have not placed a demo trade yet, stop everything and place one right now<\/strong>.<\/p>\n There is really no excuse.<\/p>\n Almost every legitimate broker provides demo trading accounts. Demo accounts allow you to trade with play money, in market conditions that are very similar to the real thing.<\/p>\n Demo trading has the following benefits:<\/strong><\/p>\n It's not real money, so go ahead and take some trades.<\/p>\n Who cares if you make a mistake?<\/p>\n Once you place a few demo trades, it will lead to more questions that can help guide your education.<\/p>\n Until then, you are just spinning your wheels with a lot of theory.<\/p>\n Keep learning and practicing with a demo account.<\/p>\n The only thing a demo account does not do is allow you to feel the psychology of having real money on the line.<\/p>\n But it will help you with everything else.<\/p>\n It can also be tempting to trade real money from the beginning. But don't do it until you are confident in your skills and method.<\/p>\n Now that you have placed some demo trades, start to establish your track record in that demo account.<\/p>\n This will do two things.<\/p>\n First, you will get numerical feedback on how your trading is going every month.<\/strong><\/p>\n If you do not keep track of your trading, it can be easy to under or overestimate how well you are doing. You can only improve if you have a way to measure your improvement.<\/p>\n Second, it will give you deeper insight into your trading.<\/strong><\/p>\n There are certain metrics that cannot be uncovered with a simple spreadsheet.<\/p>\n Some services also plot your trade results on a chart, making it easier to review your trade.<\/p>\n Luckily it is easy to start building your track record.<\/p>\n Websites like MyFxBook automatically log your trades<\/a> for you and provide graphs and metrics on your trading, so you know exactly how well you are doing.<\/p>\n You can also setup MyFxBook<\/a> to automatically tweet your trades<\/a> and keep yourself accountable.<\/p>\n If you are serious about learning to trade profitably, then you need to get educated.<\/p>\n This usually means paying for mentoring or a course at some point.<\/p>\n But if you are not sure if you want to commit to trading yet, then you should utilize some of the free resources<\/a> out there.<\/p>\n They will get your education off on the right foot.<\/p>\n A word of warning however. Free education does come at a price.<\/strong><\/p>\n Lack of clarity.<\/em><\/p>\n If you don't believe me, then spend an hour looking at all the free resources out there.<\/p>\n Then come back and tell me the one<\/em> strategy that you are going to test and how you are going to test it. Go ahead, leave a comment below.<\/p>\n Then<\/em> come back two weeks after you leave a comment and tell me how it went.<\/p>\n Some people will be able to choose a system and test it<\/a>.<\/p>\n But the majority of new traders will just end up dazed and confused by the information overload.<\/p>\n That was certainly the case for me.<\/p>\n My head was spinning so fast that I didn't know where to begin.<\/p>\n Once you get some basic education from the free resources out there and you find out that you want to truly commit to learning Forex trading, then start looking for a paid course or mentor.<\/p>\n Here is a very short list<\/a> of Forex courses that I have personally taken and recommend.<\/p>\n I have also partnered with a professional trader<\/a> to create a course that we feel solves many of the issues of beginner's overload.<\/p>\n He only teaches what is absolutely necessary to trade his method, nothing more…nothing less.<\/p>\n You can find out more here<\/a>.<\/p>\n So those are the four simple steps for getting started in Forex trading.<\/p>\n Although I sincerely believe that almost anyone can become a successful trader<\/a>, if they put their mind to it, trading is not going to be for everyone.<\/p>\n Trading is a tough skill to manage.<\/p>\n\n
Step 2 – Place Some Demo Trades…Now<\/h2>\n
\n
Step 3 – Build A Track Record<\/h2>\n
![\"trading-results\"](\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/trading-results2.jpg\")
<\/p>\nStep 4 – Never Stop Learning<\/h2>\n
![\"trading-education-books\"](\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/trading-education-books.jpg\")
<\/p>\nConclusion<\/h2>\n