Forex Education Australia – Easiest (and Best) Way To Learn Forex in 2020

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Is Forex Trading Easy or Difficult to Learn

So you want to know if Is forex trading easy or difficult to learn?

Forex trading beginners may be overwhelmed during their first steps in the field. Numbers, charts, trends, pips, bases, rates, and a million other small terms or concepts make forex seem like an impenetrable fortress that only seasoned warriors can breach. But that’s not really the case. Forex trading is easier than its often cold exterior suggests. Let’s open the gates and take a peek inside and find out if forex trading is easy or difficult to learn.

What makes forex trading seem difficult to learn?

The forex trading marketplace can span over $2 trillion per day. Those vast amounts of money make it seem as if day trading is the domain of the ultra-rich and their hired experts. But appearances can be deceiving. With the advent of new technologies, everyone with access to the Internet can learn about forex trading but even though its accessible is forex trading easy or difficult to learn?

The biggest factor that separates the “experts” from the beginners is knowledge, not the finances, big offices, or trading tools. In the end, the marketplace is the same for everyone, it’s just a matter of what’s being bought and sold.

Speaking of buying and selling, we should say that it’s the essence of forex trading –Buyers a pushing the market one way and sellers the others so you just want to be on the side of the majority. The market shifts constantly as the sums rise and fall. A successful trade is simply one in which you predicted the direction of the currency value successful and closed your position in a profit. But simple concepts like that can often be the hardest to implement.

Failure is a constant threat in this field. While everyone can succeed, absolutely nobody can rely on doing it without preparation. New beginners are advised to get the basic concepts of trading before diving into forex with their money. Investing some time into learning the general concepts used in the trading world can save a lot of hardship when you actually start trading.

So the simple answer to the question of “Is forex trading easy or difficult to learn?” Is that it’s not difficult to learn but it can be a bit more difficult to stick the rules of what you have learnt. Now let’s delve deeper!

If you asking the question of whether forex trading is easy or difficult to learn then you probably already know of some of the potential benefits forex trading has to offer but we’ll cover a few points to jog your memory on why should you start forex trading?

The main reasons for getting into the forex trading world have little to do with the high profits and everything to do with controlling your finances. Think of money as having an expiration date – the more time passes, the less valuable it becomes. Inflation is a constant factor looming over your finances. The general rule is to assume that each year your money falls in value by 2%.

And that’s not all. As you know, many commodities rise in price. Personal finance is an uphill battle. Learning to trade in forex could help you make that fight a little easier by the hill a little less steep. The shifting prices that cause all that lowering of value can give potential benefit to you in forex.

That’s how you can turn the stress of financial insecurity into an opportunity for making more money, thus acquiring more self-determination and freedom in your life.

So we’ve answered the question of whether forex trading is easy or difficult to learn but How can you make forex trading education easier?

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As you may know, learning new concepts can be harder with age. Academics still speculate as to why this is, but the most common consensus points to a physical characteristic in our brain. As we get older, more and more connections start forming in the brain. While these connections store experience and knowledge, they also make it more difficult to form new connections, as the brain gets cluttered.

The best way to learn forex is to clear your mind from all that clutter. Forget what your prejudices about currencies, savings, and finance. Rebuild your knowledge from the ground up. Start at the bottom and work your way to the top. It’s advisable you do it even if you possess some basic knowledge on day trading.

Once you understand if forex trading is easy or difficult to learn you’ll want to know some Learning methods, so here are a few.

Trying to brute force your way into learning isn’t just unpleasant and hard, it’s also ineffective. Spending endless hours on the Internet, searching for the right information is often fruitless. The truth is that learning requires a mentor, a plan, and an environment.

As Stanley Druckenmiller said, “If you’re early on in your career and they give you a choice between a great mentor or higher pay, take the mentor every time.” Having someone to show you the ropes, help you prevent the initial problems, and make sure that you’re on the right track in trading is invaluable. A good teacher is a must.

Planning is another aspect you should master before starting your forex trading path. You can have the best instincts in the world but it’s all for naught if you can’t pace your trading. Forex is really all about timing when to buy, when to sell, and, perhaps most importantly, when to do nothing.

A social environment can be a priceless element of learning the forex trading world, but it’s also a double-edged sword. Learning along with your peers boosts motivation and creates a future network in which to work, but the knowledge passed isn’t always that good.

Trading Education provides all three aspects on this very website. We decided to combine all the necessary ingredients into one package aimed at beginner traders.

Overcomplicating your trading

Knowledge is a tool, but that means it can be misused. Overcomplicating the way in which you learn can lead to a more difficult time while learning the forex market. This can lead to bad trades and a bigger chance of failing the initial launch of your portfolio.

Forex trading is about predicting how the trends are going to develop. Grasping the raw concepts without getting blinded by your background assumptions is vital for a good trade. We offer education into the concepts of technical and fundamental analysis here.

If you’ve read and understood if learning forex trading is easy or difficult you’ve may have decided, you’ll give it a go so here’s a list of the major hurdles of forex trading that you should avoid.

Here’s a quick list of things to watch out for:

  • Losing objectivity – you’re just a small spec in the multi-trillion-dollar market of forex. Keep things in perspective and look at things the way they are, not in the way you’d want them to be.
  • Losing patience – selling or buying in haste is a good recipe for failing at forex. Make sure to have patience when picking the right moment for either one.
  • Keeping realistic expectations – optimism is an invaluable part of life, but don’t let it control you. Forex isn’t a get-rich-quick ordeal, it’s about keeping a steady profit.

These points often mix and overlap, but you need to watch out for them in all forms.

How long does it take to become a good trader?

There are many answers to this question. None are applicable to all cases. It’s best to answer this on an individual basis. And know that there’s no position in which you can stop learning and just go with the flow. The market changes and shifts. Successful traders today may be failures tomorrow, and vice-versa. Never make the mistake of thinking that tomorrow won’t come because it always does.

So, to answer the question “is forex trading easy or difficult to learn” we’d say that forex trading isn’t hard…

… its difficulty is mostly measured by how well-prepared the trader is. Learning a language is probably much more difficult than learning to trade in the forex world, but almost all people manage to do that. So, in the end, trading is just a matter of having the right knowledge and tools. Nothing more, nothing less.

If you’d like to learn more about forex trading sign up to our free forex trading course that’s available here and if you enjoyed reading this article please give it a like and share it with your friends.

Best Forex Course

Nothing can substitute experience. The best way to learn forex trading is to subscribe to our Free Forex Newsletter. You’ll be provided with the latest information every trading day. Over time, the information will give you a feel on what’s important and what are moving the markets.

Meanwhile, in addition to the information provided in our site, the best could be found in our broker partners. Here are some forex educational resources that you’ll find useful:

Pepperstone In their site, there is a section “Learn to Trade Forex” dedicating on the most basic information on forex trading for the absolute beginners. Topics covered include how trading works, fundamental and technical analysis, simple explanations on technical indicators and key components you will need to get started.

In addition, there is an advanced “Trading Guides” section covering more advanced topics. Some examples are “Forex Day Trading Strategies”, “How to Quickly Identify Trading Opportunities”, “How to Develop a Trading Plan”, etc. Highly recommended.

XM In their site under “Research a& Education” section, there is a whole part dedicated to MT4 training video tutorials. The videos cover the most basic things like setting up MT4, to advanced topics like customizing the MT4 platform, as well as trailing stops.

Orbex Orbex provides a number of free Forex e-books under Online Trading Tools section of their website. Some like “A Forex Market Overview”, “A Guide to Strategic Forex Trading” are good for beginners. Others like “Money Management for Forex Traders” and “Using Candlesticks Charts to Trade Forex” are good for intermediate to advanced level traders.

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Isn’t it time you separated from the beginners & amateurs and joined the experts?

Trading is not something you should be taking lightly and neither is your education . How many youtube videos and free guides must you take before you take real action to obtain real results?

We have worked with many clients who have been in your position, most likely watched youtube videos and read re-hashed content that has been lost in translation from one guru to another…

You wouldn’t want a surgeon who Youtube’d “Open Heart Surgery” to perform an operation on you, would you?

You must stop living in dreamland where the idea of making money from trading feels A LOT better than putting in the work, effort and money (and losses) to learn and take risks to become the ideal trader you have a picture of in your mind.

No, not the trader that is sitting on a throne made out of cash…

Trading and making money is an ART and it has been LOST.

Even in today’s teachings online, you are NOT even taught how to properly execute a trade… Trust us, this is one of the most common problems we fix and it can save you A LOT of money.

What you will learn is the EXACT SAME process successful traders have been monetising from for DECADES. The strategies, execution plans, frameworks and systems included in this FREE Forex Course have been fine-tuned and brought up to speed in the 21st Century.

If you’re serious to become a better trader, become consistently profitable and take your knowledge to the next level, then this is the first step.

Category: Forex education

3 Ways to Improve Your Trading in 2020

Around this time of year, we often review the past year and also look forward to the next. We look at achievements and goals and at ways to become a better trader in 2020.

Change is the only constant

There are many ways to step up my trading game but for me, 3 themes stand out. In the past, these 3 things have resulted in the biggest positive change in my own trading.

As we are moving into the new year, I wanted to share these with you.

My 6 Step Trade Entry Process Explained

Last week, I tweeted what I see as my trade entry process. This was the tweet:

For every trade, I structure my process from 1 to 6. Each step isn’t possible without the previous one. Anytime, certain price action can invalidate the entire setup and make me abandon it.
1. Analysis
2. Directional bias
3. Trade plan
4. Entry filters
5. Entry criteria
6. Trade

Since then, I got so many questions that I wanted to take a moment to write in more detail how I use this process to make better trading decisions.

Risk, R and R-multiples explained

If you ask me how much pips I made last month, I will tell you I don’t know.

But I will know my R-multiple of last month: a 6.1R profit. This R number often results in confused looks. What does R stand for?

In order to figure this out, we need to take a step back and look at our performance and its relationship with risk.

Risk and Reward To Risk

When you say that you made a 50 pip profit, that only tells me part of the story. The key piece of information that is missing here is how much you risked to make this profit. After all, a 50 pip profit is a good result if you had a 25 pip stop loss but if your stop loss was 200 pips, you risked a lot to get a relatively small reward.

5 Tips To Develop Better Trading Habits

Imagine the following scenario: you’re starting the year, completely motivated. This is going to be YOUR trading year! This is the year where you will make it happen.

When you look at your trading, a few things need to be fixed, though. You know you should start a trading journal. You need to stop revenge trading. Cutting losses is still hard to do. And really, your trade management is pretty subjective so your trading plan needs some work.

You need some solid trading habits but more importantly, you need to look at ways to stick to those newly created habits. Everyone who has ever tried to lose weight, stop smoking or exercise knows this all too well:

It’s easy to start a habit but harder to stick to it

MT4 EA Course: ATR Stops And Position Sizing

This article is part of a series. Here are the other parts:

Welcome to the fifth part of our MetaTrader4 Expert Advisor course! If you haven’t done so, please have a look at the previous instalments.

Looking for a video course instead?

We’ve been doing pretty well with our expert advisor. We created a fully functioning EA that can make buy and sell orders, and also can trail our stops. However, up until now, we’ve always used a fixed stop loss of 50 pips.

That might often be ok but what if you want a dynamic stop loss? In order to better reflect the market dynamics, we could use a volatility indicator such as ATR (Average True Range) to determine our stop-loss.

When we use dynamic stop loss distances, we still want to keep our risk per trade the same. We do this using dynamic position sizing. In other words, we will change the lot size per trade to reflect our desire to use a 1% stop loss. Let’s see how we can add this to our Wall-E expert advisor!

Forex Outlook for August 26: Trade Review And 5 New Setups

Hi traders! �� Last week was a solid trading week and we’ve got some nice results from the setups I published. It feels like the market has come back alive this week! With a total of 9 trades, I could end the week with a 6.59R profit. Moreover, the best feeling ever is to see my Trade Advisor students make real profits too, well done! ��

This is my performance overview for August:

  • First week: +2.82R
  • Second week: +6R
  • Third week: +0.57R
  • This week: +6.59R

This brings the running total for August on a 15.98R profit, with still a few trading days to go. After a couple of months with more moderate profits, it seems that the market is back with us! This goes to show that regardless of summer months, I just trade my plan and that’s it. Imagine skipping August just because of the summer months and missing out on these very nice profits!

Forex Outlook: 5 Top Setups For The New Week

�� Hi traders! After another week of trading, it’s a wrap! It was quite a challenging week with a trade in USDNOK not working out but a good trade in AUDCHF that resulted in a 2R profit. However, we still managed to come out on top and end the week with a profit. ��

As we prepare for the new trading week, I want to share a number of setups that are part of the Trade Advisor program. The students actually got 12 setups and this is a selection of 5 of those setups. I hope you find them useful!

If you want to learn everything about the strategy, including how to place stop loss and take profits and how to manage trades, check out the program (which currently has a one-week free trial)! Have a good trading week everyone!

Trade Review And 4 Setups For The New Week

�� Hi traders! After last week, we’re back to reviewing our trades and planning for the upcoming week. How has trading been for you in the past 5 days?

As we roll into June, the Trade Advisor students again had a pretty nice trading week. I closed the week with a +4.89R profit and this makes me end the month of May with a nice +8.17R profit. Let’s go over the trades I took right now in the trade review section!

The Best Reversal Trades For The Upcoming Week

Hi traders, what’s up! �� After a semi-holiday week in Kyoto, ⛩ I’m back in Tokyo and ready to rock the charts again! ��

This week, the Trade Advisor students have received 16 (!) setups and some of them are real beauties! Many of them are on the 4H charts, but there are trading opportunities on the 1H and daily as well, so there’s something for everyone!

In order to show how the Trade Advisor students and I trade, I wanted to share a few of those setups. Feel free to use these reversal setups as inspiration on what to trade next week �� But enough talk, let’s get started!

A post shared by Smart Forex Learning – Felix (@smartforexlearning) on May 4, 2020 at 6:00pm PDT

Some Setups For This Week (+ Trade Review)

Hi there, traders! Last week was a bit slower than usual. Friday was basically a day off due to Good Friday holiday and most of the setups played out on the 4H and daily timeframes.

This made for a more relaxing trading week and even though the number of setups that materialized was a bit less, we were still able to find some trading opportunities to get a decent enough result.

A post shared by Smart Forex Learning – Felix (@smartforexlearning) on Mar 29, 2020 at 8:04pm PDT

Last week, I had three winning trades and a few smaller losses. Due to my habit of cutting losses fast, I still ended the week positively with a 2.38R profit.

Trade Advisor: Learn to Trade

About Felix

I’m a full-time, independent forex trader. I’ve been trading for over 10 years and specialize in price action trading, reversal trading, trading psychology and algorithmic trading.

If you’re determined to become a pro trader, I offer a select pro trading program.

When I’m not trading, I’ll either be travelling the world or rock climbing (likely both). Read my story here.

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