March 20, 2016 • 7 mins
Podcast:
The Best Way To Learn How To Trade The Forex Market
In this video:
00:24 – The best way to learn how to trade Forex
00:56 – Limitations with most methods
02.54 – The value of live trading webinars
03:49 – You get to see everything on a live account
04:45 – Learn the reasons to trade or not take a trade
05:30 – Daily on-going education to help you trade
06:10 – Trading across all time frame charts
06:40 – Interact with a professional trader in real time
What's the best way to learn how to trade the Forex Market? Let me share that and more with you right now.
Hi, Forex Traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach, today is Friday, the 18th of March.
The best way to learn how to trade Forex
I wanted to share in this video and podcast, the way that I believe is probably the very best way that you can learn how to trade the Forex Market. Let's look at the options of what you currently have.
You could attend live seminars, you could look at forums online, you could read books, you could attend local trading groups, or you could just do it alone, and you can figure out what works and what doesn't work for yourself.
Limitations with most methods
All of those have some limitations. The problem is, when you go to a seminar, is that it's generally all over within a day; possibly a weekend, if it's taught to you during a weekend, then of course you can't trade live. That becomes a problem with a seminar.
When it becomes an online forum group, they generally get taken over by the people who think they know more than everybody else, and who like to express their opinion, and the other thing I've noticed over the years with forums is that they very quickly go off topic, or someone adds some new indicator or changes the whole original look and feel of the forum. The person who generally starts that forum or that thread up, generally gets fed up and leaves. That's the common issue with forums.
You could go to a local group of traders, and the problem is with that is that people may be trading different markets. They may have got different ideas. Some have got longer-term traders, some like scalping the market. The other problem is, is that depending on where you live, the market may not be in the best conditions for trading live. Everybody has different ideas and opinions. You generally find that those groups that most people don't like to give away all their secrets. The few live trading groups that I've ever been to, I've found them not that useful. Nice people, great to talk to other traders, but not that useful, as in trying to learn what works for me.
The other way, of course, is going alone. Doing it yourself. Trial and error, trying to figure out what works for you. Can be very, very lonely, and quite frustrating. You generally find that most people, friends or family, have no idea what it is that you're trying to achieve, and therefore, you're stuck at home or in your office, trying to understand how to trade by yourself, really with little support and backup.
Those are the issues that I see with most ways that people learn to trade.
The value of live trading webinars
One of the things that I think is so important and why I believe that so many of my coaching clients do extremely well, is because I hold live trading room sessions. I held one just last night for my clients. Around two hours, fifteen minutes, in the European session. The beauty of the live trading room sessions is that you get to see me trading. You can see one of my accounts here, with hopefully those green lights you can see. We just had a great trading room session last night. Lots of profitable trades that I took during the session, and many of them actually closed out for profit during the session also.
The Best Way To Learn How To Trade The Forex Market
In this video:
00:24 – The best way to learn how to trade Forex
00:56 – Limitations with most methods
02.54 – The value of live trading webinars
03:49 – You get to see everything on a live account
04:45 – Learn the reasons to trade or not take a trade
05:30 – Daily on-going education to help you trade
06:10 – Trading across all time frame charts
06:40 – Interact with a professional trader in real time
What's the best way to learn how to trade the Forex Market? Let me share that and more with you right now.
Hi, Forex Traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach, today is Friday, the 18th of March.
The best way to learn how to trade Forex
I wanted to share in this video and podcast, the way that I believe is probably the very best way that you can learn how to trade the Forex Market. Let's look at the options of what you currently have.
You could attend live seminars, you could look at forums online, you could read books, you could attend local trading groups, or you could just do it alone, and you can figure out what works and what doesn't work for yourself.
Limitations with most methods
All of those have some limitations. The problem is, when you go to a seminar, is that it's generally all over within a day; possibly a weekend, if it's taught to you during a weekend, then of course you can't trade live. That becomes a problem with a seminar.
When it becomes an online forum group, they generally get taken over by the people who think they know more than everybody else, and who like to express their opinion, and the other thing I've noticed over the years with forums is that they very quickly go off topic, or someone adds some new indicator or changes the whole original look and feel of the forum. The person who generally starts that forum or that thread up, generally gets fed up and leaves. That's the common issue with forums.
You could go to a local group of traders, and the problem is with that is that people may be trading different markets. They may have got different ideas. Some have got longer-term traders, some like scalping the market. The other problem is, is that depending on where you live, the market may not be in the best conditions for trading live. Everybody has different ideas and opinions. You generally find that those groups that most people don't like to give away all their secrets. The few live trading groups that I've ever been to, I've found them not that useful. Nice people, great to talk to other traders, but not that useful, as in trying to learn what works for me.
The other way, of course, is going alone. Doing it yourself. Trial and error, trying to figure out what works for you. Can be very, very lonely, and quite frustrating. You generally find that most people, friends or family, have no idea what it is that you're trying to achieve, and therefore, you're stuck at home or in your office, trying to understand how to trade by yourself, really with little support and backup.
Those are the issues that I see with most ways that people learn to trade.
The value of live trading webinars
One of the things that I think is so important and why I believe that so many of my coaching clients do extremely well, is because I hold live trading room sessions. I held one just last night for my clients. Around two hours, fifteen minutes, in the European session. The beauty of the live trading room sessions is that you get to see me trading. You can see one of my accounts here, with hopefully those green lights you can see. We just had a great trading room session last night. Lots of profitable trades that I took during the session, and many of them actually closed out for profit during the session also.
Mark as Played
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
Death, Sex & Money
Anna Sale explores the big questions and hard choices that are often left out of polite conversation.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.