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The Need For Forex Education And How to Get It.

In this article, you will find the answers to the following important questions; why you need Forex education and its importance.

• How to analyse price fluctuations?
• How to choose the instruments to trade?
• Where to get high quality trading education?
• Trader or investor, what to choose?
• How to start earning in Forex from scratch?

Overall, if you’ve ever wanted to find a quality education source to learn how to trade financial markets, this article is for you.

Our topmost priority is to assist you in finding the forex education provider that will best suit your requirements. Acorn 2 Oak comparison service is completely FREE, and it enables you to review and compare leading forex education providers.

Introduction

Time progresses and technology becomes even more integrated into our lives. At the same time, the way we live is changing. Just a decade ago, we barely knew any other way to earn money, except occupation or job specialty and going from morning to night.

And what is happening now? Young and middle-aged people increasingly choose intellectual work as their primary source of income. Working and earning money on the Internet has become a popular source of income. Trading in the financial markets has become so popular and accessible that almost everyone between the ages of 18 and 50 has heard of terms such as “forex”, “stock”, “trader”.

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From childhood, people are taught that they need to study a serious profession to earn good money. We all start studying in kindergarten, then we continue in school, then in college, and the most popular occupations need more academic study. So to consistently earn money, people should spend almost half their lives studying. Of course, there is more general education there. If we talk about a specific occupation, people study at the university, and this takes at least 5 years.

And now, let’s go back to forex training and ask: Has anyone studied this for at least a year? It is to study the methods of price prediction, specific characteristics of exchange contracts, principles of price formation, types of values, all the specific characteristics of shares. I think there is hardly anyone! So why do you think you can succeed in a business you know nothing about, except for standard advertising slogans like “trading is easy.”

Due to insufficient education, 98% of beginners inevitably lose their capital. It seems not true. There are all kinds of trading training courses and private classes are available on the Internet. Everywhere, there are announcements about all kinds of trading gurus that promise to teach you how to make profit within 1 day, or even within an hour. So why only 2% win?

Most of these gurus and authors of online trading courses came out of this 98%. Like most beginning traders, they have lost their capital and realised that they could not make money from trading due to lack of education, so they decided to start teaching.

And now, they offer to teach newbies and thus earn some money to cover at least some of their losses. I will say even more, half of all those gurus have not even negotiated with their own money. I wonder what such a teacher can teach. Nothing! He cannot teach anything because he has accomplished nothing, although they can talk a lot.

Hence the statistics, which are terrifying.

Why do I write all this? So that readers understand one important thing. No one can succeed in a business in which they have not been trained. Of course, there is a concept of talent, but it has nothing to do with the currency market.

Even if you are incredibly talented, this will not give you any positive results. You can never make money on Forex without knowing how the financial market works, how the price is formed and other important notions. It is a fact! And I have been dealing with this fact for over 7 years of teaching.

However, this does not mean that you will necessarily have to study for 5 years and more to reap the benefits of trading. That is not like that. This depends on many factors, and one of the most important is study skills.

I know real-life examples when a person with good study skills was able to easily understand and learn the material in just one month, and some of the students were unable to learn even in half a year. Another important feature is the structure of the forex trading training course.

If a teacher has a structured, concise and personalised teaching methodology, students can learn and assimilate material ten times faster. As a result, you now see that you need to learn this before you can make a profit from trading. If you find a quality source of education and a good teacher, you will significantly reduce training time. But again, a lot depends on your learning ability.

How To Learn To Trade Forex

So now you understand that you need to study trading, both in theory and practice, and the more the better. Let’s see what training methods are available and how efficient each of them is.

Self-Education

Self-learning is the first and the most accessible way to learn. The Internet is vast with various sources of information on trading; anyone can write their own textbook on financial markets. Everything is quite simple, download the trading books and guides and start reading them. This type of learning implies that all the way, from start to finish, will go alone.

However, this form involves many problems.

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Disadvantages

► First, it is unstructured information. In other words, you get a lot of information, but it’s impossible to know what to study first and what to study next. Finally, you receive the knowledge, but you cannot apply it to practice, so there will be no results either.

► The second drawback is that most modern authors do not understand what they are writing about. In other words, you have no guarantee that the information you learn from books is accurate or relevant, so you never know if it will help you become a successful trader or not. Now everyone can write and publish articles on the Internet.

► The third is the high cost of time. You will hardly find a book that explains everything from A to Z. Therefore, you must read a lot of literature, which will be time consuming, but not necessarily efficient.

Solution

I know for sure the solutions to these problems. 12 years ago, I started my trading career with self-education. There were simply no other ways to do it at the time, and if they existed, I couldn’t afford them. I started reading and studying everything I could find, and I soon realised that I mainly read texts that I could write myself.

So, I decided to read only the authors, whose trading performance could be proven by the facts. Almost all of them are very famous people: Soros, Buffet, Graham … Each of them wrote more than one book, describing how the first market capital had been created and formed.

Admittedly, traders familiar with the world of finance know these names, and therefore we all know what these people accomplished. Do you know the trading performance of modern authors? Where is the proof that the book’s author really knows how to make money?

So why do you think the guy from an internet banner ad, who’s promoting his unique book on trading, is successful? Well, there isn’t. Therefore, read-only books were written by really successful traders. I have listed some names. The book that impressed me the most is Benjamin Graham’s “The Smart Investor”.

Training Seminars

One of the easiest ways to learn right now is to attend various training seminars and trainings. All kinds of investment experts and trading gurus conduct various seminars and training courses for like-minded people.

In free seminars, they usually tell their stories as traders, how much they earn, and how simple it is for you to earn so much. If, of course, you attend other seminars taught by this teacher, paid. You know what I mean, right?

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Of course, there are very useful seminars, but generally they are not aimed at the training of those present, but to explain some individual problems. For example, it may be a seminar dedicated to a specific trading strategy, where all visitors share their experience with that strategy.

Sometimes you can learn something useful in such public gatherings. These seminars are usually organised by brokerage companies for their clients, and the speakers are experienced clients or guest teachers from educational institutions.

Disadvantages

► The first drawback is the cost of admission to such events. If a seminar is taught by a fairly well-known person or a famous trader, the price to attend the seminar will be quite high. For example, admission to a seminar conducted by a famous international trader (I won’t specify the name) costs around $ 2,300. It is a high price charged for the opportunity to hear life success stories of the wealthy.

► Another drawback is that most of these seminars aim not to explain or teach something, but simply to raise money for admission and to sell some investment product.

► Another disadvantage is that such events are not effective. I mean, they are not effective in terms of the information received. You need to attend many of these events to put the puzzle pieces together in your head and that will take quite a bit of time and money.

Solution

As I said, it is possible to get useful information from trading seminars, but you need to clearly understand where you are going, how much it will cost and what exactly you will receive. As an example, I can mention recent seminars on “increasing financial literacy”.

Therefore, we analyse: everything is clear with the subject, they will teach financial education.

It is useful? Absolutely!

► How much? It’s free. It is also a great advantage.

► Time invested: from an hour to an hour and a half. Quite acceptable.

► Who teaches? He is usually a professor at a vocational institution, often with an academic degree. Therefore, you are sure that the teacher is an expert in the subject taught.

In short, you will learn useful information, you will not spend money, you will be able to meet interesting people and get some useful contacts. If this is the approach of attending any seminar, it is likely to gain many benefits.

Individual Training

Of course, you can always get an education by attending training courses. You contact your broker company, and they offer you to participate in a forex training course at their base. This type of education is similar to lessons at school or university.

Almost all forex brokers can teach the basics of working in the Forex market. You can also ask a private trader to teach you how to trade currencies. Some brokers involve particular educational establishments that provide a wide range of educational services.

Disadvantages

► First of all, again it is quite expensive! If you attend a training course organised by your broker, you will likely learn general information as very few have high quality educational structures. In most cases, there is a cost for this education. If you decide to hire a private trader as a teacher, the price will be very high.

► Second, the quality of education does not always correspond to price. This happens because brokers, as a rule, offer training courses that only teach general trading concepts, and the professors are not university professors or recognised experts, mostly they are traders with 2 or 3 years of experience. Well, common traders, if they can tell you how it basically works, they can’t always do it so that you understand everything correctly and can use the knowledge in practice. Therefore, the information itself may be useful, but it will not produce the necessary result without a proper structure.

► Third, the experience of traders. They are likely to offer you online negotiation courses. This means that you and a trader trade together and you are learning in the actual trading process. Basically it turns out to be different. Just watch that trader at work, but don’t acquire any knowledge or skills yourself. Also, individual traders charge a lot of money for their lessons.

Solution

So how do you learn? The answer is simple. If you cannot afford to deal with a professional structure, like the best forex school, you will have to organise your education yourself.

First, you must set clear goals, deadlines for achieving these goals, and the budget you are ready to spend on education. Don’t you think you can only learn to make forex profits through free lessons and tutorials? You will have to spend it anyway!

What I mean is that if you don’t have a clear plan and structure for your education, you will have to spend much more than you need to. The very structure of mastering any specialty is simple, you only need to plan: theoretical basis, practical work, forex analysis, strategy selection, application, adjustment. That’s it. You can solve any of these problems yourself.

For example, theoretical basis, take an introductory course from your broker. Practice opening a trading account at your broker for training (ECN with a minimum deposit of 200 – 500 USD, but no demo !!!). And see how your basic knowledge of real trading works, click the buttons.

Forex analysis, study how to analyse price action and its changes (types of analysis), choose what suits you best and apply it to trading. Selection of the currency trading system. Join the basic knowledge and forex analysis method you like, develop your own rules for your trading system (paragraph by paragraph).

Apply your rules to real trading. Perform operations and get a result (it doesn’t matter if it is positive or negative). Adjust, based on performance, correct your trading system, eliminating their failures and thus increase their effectiveness. That’s it!

If you can’t make that plan yourself, you can’t do anything but seek help from professionals (I’ll explain later).

Trading is complex and the successful trading leaders have always paid great attention in constantly improving their knowledge. If you wish to be among them and be ahead in the game here at Acorn 2 Oak we can contact you with the leading providers of forex education and help you select the one that most answer to your requirements.

Video Tutorial

Online video tutorials are another affordable way to learn. They provide basic trading concepts and more specialised information. In numerous tutorial videos, you can find information on stock trading.

But again, a novice will have a hard time seeing what information is useful and what material is absolutely useless. Tutorial videos are a really affordable way to learn forex trading as there are now a host of different internet resources these videos are placed on.

There are training courses, various types of market analysis, there are even trading ideas and recommendations on when and in which direction to open a trade.

And finally, video lessons are the only way to study currency trading at a licensed specialised educational establishment if you are in another city or in another country.

Disadvantages

► Along with the advantages, there are, of course, many disadvantages. For example, you cannot assess the professionalism of the author of the video. If the video was shot by an amateur, you will not use it much.

► Most of the video tutorials that are available for free are absolutely useless and an inexperienced person does not distinguish them from quality content.

► Furthermore, analytical materials and trading recommendations often lead to losses for those who follow them. If you make a loss as a result of your own operations, you can at least analyse the causes and avoid them in the future. What if your loss were the result of an analyst’s opinion, what will you analyse? Who will you file a claim with?

Solution

This way of studying currency trading has many advantages, it is accessible, and you can study at any time convenient for you. To use educational materials more efficiently, you should remember a few simple rules:

► First, use only trusted and proven content. At the very least, it should be the material, advised by your broker, rather than just random videos, that you’ve found on YouTube yourself.

► Second, don’t follow trading recommendations or buy trading signals.

► Third, don’t load up on a lot of information at once. The videos look very easy and fast and sometimes we can’t control the amount of information received, and it just doesn’t fit in our head.

► Fourth, pay only for training provided by specialised online trading courses. They must be licensed to carry out educational activities. In this case, you have a great opportunity to get a really quality education.

Study In A Specialised School

It is the most reliable and efficient way to learn how to trade and make money in the financial markets. It offers advanced training courses on a particular topic. It is a fairly new trend in trading, and such organisations began to appear only a few years ago.

The school develops a series of educational programs in this area that undergo mandatory certification by the Ministry of Education.

These schools offer the most comprehensive range of educational programs in a particular area of study. In trying to learn how to trade in the currency market, the school will offer educational programs ranging from the basics of trading to the advanced currency strategies of traders.

At the end of the course, students take a qualifying exam to determine the level of their skills. If a student successfully passes the exam, they receive a State Certificate of Professional Development. This provides assurances that you will actually be taught, otherwise you will not be able to pass the exam.

Teachers at these institutions often do scientific work and publish educational articles and analytical materials, they are frequent guests and welcome at various conferences and seminars.

Disadvantages

Probably the only drawback to this structure is limited availability. Such schools are just emerging and there are very few. There will be few because unskilled teaching staff do not have access to this niche. The activity must be licensed and only requires highly competent teachers. And such teachers charge quite a bit. So scammers just can’t afford this activity.

For this reason, there are many people willing to study in these schools, but there are few schools. And if there is no such organisation in your city or country, it is an even bigger problem. Of course, you can train on Skype, but you often have to queue to sign up for the course.

Solution

It is clear that we will not be able to solve the problem of accessibility, so either you have access to this institution or not. There’s no point in writing about the benefits either, it’s worth saying just one thing: You won’t get a higher quality and really useful education anywhere else. And the pricing policies of these establishments are so acceptable that almost anyone can afford this education.