Where is the simplest and easiest way to learn about FOREX?

Question

I wish to try and make money in the FOREX markets? Does anyone have a simple way to learn this without paying thousands of dollars?

Answer 1

There are many F.REE resources over at the internet which you can learn from.

One particular website that I certainly love to recommend to new forex trader is at www.babypips.com. The website offer learning from scratch from what is Forex Trading to advance level ....and is totally F.REE.

However, learning A Method or Strategies to profitably trade the forex market quite often are not F.REE. If you're interested, you may visit my website at http://www.RoyAutomatedForexTrading.com where I recommends two simple to learn and also simple to apply methods.

You will be amaze at the simplicity.

Well, wish you all the best in your learning!  

Answer 2

hmmmm...

If you are not willing to spend money, be prepared to spend time... Have a good look around and see what the other systems are offering, and then have a go of making one up yourself.  A basic set of moving averages based on Fibonacci numbers is a good start...

You can google just about everything these days... so search on entries and exits, profit stops, whipsawing, trailing stops, break evens etc.  Also, check out the library, they will have some resources...  There are a few good wikis on the subject too... Once you get a bit of an idea of the terminology, you can broaden your knowledge base accordingly.  

Myself and a mate are in the process of wading through the 'learning phase', and it is not necessarily easy... Metatrader is a free download, and you will learn much about the market, just by watching candles form... We use it because we live in Australia, and we want to automate our system, rather than stay up to 3am, white knuckled and bleary eyed!

We are also working to a structured system... A great resource to get hold of (but not cheap) is:  Design, Testing and Optimization of Trading Strategies by Robert Pardo... Probably not the only resource of its kind out there, but it is the one we are working with...  It gives a flowchart of how to ensure you have a decent trading system...

Of note too, is to be able to recognize a trend signal and a trade signal... life on the forex isn't much fun without them.

Ask around... when we started getting involved in trading, I was amazed that I already had quite a few traders as friends/acquaintances, and didn't even know it... Most traders tend to keep that stuff a bit close to their chest...  for fairly obvious reasons...

Just remember, unless your surname is Gann, you will have a hard time forecasting the market (and even then...)  Don't try to guess the market, just listen to what it is telling you in the present moment.  Have a clear plan of your entry, stops, exits and break evens, and your capital investment...  No more than 2% of your kitty to start with...

If you know MQ4 (or another computer language) you will be off to a good start.  If not, a complier for Metatrader can be found at:  http://www.metatrader.info/node/79 but I have never used it myself...

Finally, prepare to become obsessed...  The market, being both beautiful and ***** at once, moves with a mind of its own... it is an organic creature with its own agenda, and wont care how much money you donate to it!  Spend some time with her (the market), get to know her nuances, get a feel for what constitutes a trend signal, then chuck some indicators over a chart and see if you can quantify it... its all in the process.  Just honour the process... even if, for know, that is simply a process of learning...

If I can be of help, let me know...

rUSs

Answer 3

if your really serious about learning forex then i'd recommend forex brotherhood.

it was put together by a guy called Jason Alan Jankovsky, a professional forex trader from Chicago.

it's by far the cheapest forex training community on the internet and you get more features than any i've tried.

i have done a full review of it at http://theforexbrotherhoodreview.blogspo...

Answer 4

you can simply read Ebooks and other printed materials which are all useful tools in learning forex.  to deal further with your quest to learn forex trading, however, you may check this link. this is one of the leaders in forex trading with headquarters in Europe, USA, Australia, Asia and Middle East as well so you are assured you are not scammed and is actually dealing with a very legitimate, trusted and reliable site. you may make an initial deposit of only $100 which is also your initial capital (though in serious forex trading you need to deposit a lot more than that) and you will be provided a personal Account Service manager (ASM) to serve as your consultant, mentor and even trading partner and with whom you can talk live over the phone, email or chat. your ASM is an expert forex trader and will be your best resource person to learn forex trading in a nutshell.  you may then register and download a Free Forex Ebook from this link.  at your request, he is even tasked to trade along with you to make sure that you get familiar with their system befroe you make your trades.

Answer 5

I found an ebook called Forex Killer which you can get for as little as $89. There is also a comprehensive review of the product so you can make an informed decision before you start investing your money. I am not claiming to be an expert in Forex but I found this site to provide a very thorough review.

Answer 6

You could invest around $100 in a package known as "Forex Autopilot" which is a software tool that automates much of the trading for you AND it gives you 4 high quality guides that tell you all about forex.

You should search for it on Google or use the review I did at http://www.forexfromscratch.com/forex_au...

Hope this helps?

Answer 7

Hello,

If you have been trading or planning to start and have wiped out an account, don’t be disheartened. I know I pretty much wiped out a trading account when I first started, now I’ve developed a system where I make a consistent 100% annually. You see most of the successful traders we know had suffered loses in their trading career at least once before learning from their mistakes and start consistently turning over a profit on an annual (daily, weekly or monthly depending on your trading styles and goals) basis.

1. Don't open a trade just because it is cheap. The only reason to open a position is when the underlying security looks set up to make a decent move.

2. When you open a trade, start looking for signs that you were wrong. If you see them, then get out before your stop loss is executed.

3. Good trading should be boring, like doing the same thing over and over again. If there’s one thing I guarantee in trading, it’s that "thrill seekers" or adrenaline junkies get their accounts grounded into tiny bits and pieces.

4. Always be in control and aware of your own sea of emotions. Every trader’s downfall will come from not being able to control your emotions. If you are screaming at your computer screen, begging your stocks to move in your favor, you have to stop and ask yourself, "Is this rational?" Ease in. Ease out. Keep your stops. Don’t scream and shout.

5. The turning point of when amateur traders turn into professional traders is when they stop searching and hoping for the "next great technical indicator" and start managing their risk on each trade.

6. Trading is simple, but it isn’t easy. If you see yourself having a

future in this industry, forget about "hope" and stick to your stop

loss.

7. You are buying and trading on the emotions of other traders, not the actual stock. You have to be aware of the human psychology and emotions that constitute trading.

8. Always remember, trading is supposed to be a business. So treat it like one by not letting your emotions get in the way, stick to your stop loss.

9. If you come into trading with the idea of making “big money

overnight,” you’re better wake up and smell the coffee. Most accounts have been blown because of this “account killer” mindset.

10. Beware of your number one enemy, yourself! If you start to get too excited, beware! As excitement clouds your judgment, it starts to increases your risk.

Cheers & Happy Trading!  

Answer 8

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Answer 9

I would recommend forex brotherhood ,But it's cost is 249$ ,If you want learn for whithout paying find forex forum and participate actively in that forum.