Should a New Trader Take a Forex Trading Course or Not?

[ForexArticles]

If you're new to the currency market, then this article will give you an overview on what you'll be learning in any new trading seminar. If any of the terms are unfamiliar, then you should certainly find out what they all mean to not fall behind! Here's the article:

Many new traders come with little or no education to the forex market, only to blow out their entire account in matter of days.

Why?

Because the have never learnt anything about how the FOREX works, technical analysis, strategy's, traders psychology, chart set up and many other important things you should know before you start to trade.

So, knowing this, it is important for new traders to have some serious education about forex before you go trading LIVE.

What type of education?

This can be a forex trading course or online education with live instructors from respectable FX companies.

How much should a trader spend?

It depends on how much a trader is willing to pay but a good forex trading course must be available starting as low as $250, some companies even offer it for free. Online education with live instructors can cost a lot more, finally it is up to the trader what he is willing to pay for proper forex education.

Just think about this: it is very easy to lose an entire forex account with no education, whether it is a $1000 or a $100,000 account, personally, I would learn forex first before wasting my money.

What lessons a trader should learn in a forex trading course or with online forex instructors:

Forex Basics

What is Forex?, Currency Pairs, Order types,...

Technical Analysis

Technical Indicators, Candlestick, Types of charts, Patterns, Moving Averages, Support&Resistance, Trend Lines,..

Trading System

Entry Setup, Limit Levels, Where to place a stop levels,...

Chart Patterns

Special Chart patterns with high probability to look for,...

Trading Psychology

How to succeed in Forex trading and how to avoid pitfalls, Holy grail,..

Money Management

Risk-to-reward ratio's,....

[MichaelB]

A trading course can be helpful for a new trader but some people sell courses for thousands of pounds and most of the information is available for free online