Here’s a list of basic forex courses and forex videos which help beginner traders understand the forex market, combined with forex strategies to get started.
Forex can be a confusing market. For most beginner forex traders the extent of their foreign exchange experience is swapping one currency for another at the bank before going on a trip. We grow up hearing about the stock market, but most us don’t hear much about the currency market, even though it is by far the biggest market in world.
If you’re interested in forex trading, you’ll need to learn some basics before you even think about trading the forex market with real capital. Below are several basic forex courses, basic forex videos and forex resources which will get you understanding the forex market. These courses also provide forex strategies. As you become comfortable with the forex market you can begin practicing trading strategies in a demo account (play money), before taking the big step of opening a forex account and trading for real profits with real capital.
Forex Courses and Videos for Beginners
There is loads of information on forex out there. Some of it may be good, and some of it may actually harm your chances of becoming a successful trader. The following forex courses and videos provide great information for free or for a very low price.
The Forex Strategies Guide for Day and Swing Traders – This is an eBook written by yours truly, Cory Mitchell, CMT. After trading for more than a decade, this eBook includes everything you need to know about the forex market to get you practicing trades and ultimately opening a real account to make real money from trading. Learn exactly what the forex market is, how it operates, how you trade it, and how much capital you need to get started.
The book then progresses to discuss what creates a winning trader, what type of plan and checklists to follow, and how to manage risk on a daily and per trade basis.
How markets move, and how that affects your trading is also addressed, including how to incorporate correlation and volatility analysis into your trading.
Next we get into strategies which can be applied for day trading and swing trading (trades that last a couple days to a few weeks). There are over 20 strategies you can learn, with explicit details on how to enter, control risk and when to take profit. You also learn when to take trades and when not to based on how the market is moving.
Finally, I teach you how to create your own strategies, give you guidance on controlling personal tendencies so these tendencies don’t sabotage your trading and provide mental exercises you can use to build your disciple and trading success.
The next course is a video course, which I helped produce. The course is split into two sections, a Basic Forex Videos course, and Forex Strategies course. The former is free while the latter costs a small fee.
Investoo Forex Beginners Course – This video forex course is broken down into 16 units. It covers what the forex market is, how it operates, how to read forex charts and how to set up a demo forex trading account.
Learn forex basics, such as what a forex pair is and which of these pairs to focus on. The basic video forex course also provides information on general trading principles, such as finding entry points, stop loss levels and take-profit levels. It explains the basics of a building a trading plan and how to analyze your trading performance.
The Investoo Advanced Forex Strategies Course gets into actual strategies you can use in the forex market, first by practicing in a demo account, and if that goes well, then in a live forex account utilizing real capital. This courses includes how to trade chart patterns and use technical indicators: 24 strategies in all.
The next forex course for beginners is actually broken down into a series of courses. The courses are free and provide basic forex trading information and trading strategies.
FX Academy Introduction to Forex Trading – This is the first in a series of video courses offered by FX Academy. It introduces you to some of the basics of forex trading, including it’s many advantages, such as the use of leverage and the 24-hour market.
Other courses delve more into the strategy aspects of trading, such as utilizing support and resistance, interpreting candlestick charts, as well as using trendlines, Fibonacci levels, moving averages and Bollinger Bands.
The next site isn’t really course, rather it is just a site that provides a ton of forex information.
Winner’s Edge Trading provides a blog which is continually updated with loads of great articles, analysis and trade ideas. The Tutorials Center also provides a wide array of forex information to get you started on your forex journey.
What I like about this site is that they usually explain why they are taking certain trades, so you get to see the strategy which creates the trade, and not just the trade itself. They offer a number of downloadable PDFs offering their basic staple strategy, as well as some as other trading information.
You can always check out the Tutorials on this site as well, including trading basics, how to get started and trading strategies.
Forex Courses and Videos for Beginners – Final Word
When starting out there is a barrage of information; narrow it down and get information from only a few sources. The above sources will provide you with more than enough information about the basics of forex trading. I’ve put my name on my book, and for the small price I think it is the best information you will find on starting out and getting profitable in the forex market. If you still have questions about forex trading, these other courses will likely answer it.
I learned to trade forex on my own; I read information that was out there and ultimately made my own decisions about how I wanted to trade. I personally tested the methods written about by others, and if they worked I used them, and if they didn’t I tried to find ways to improve the method or cut it loose. I encourage you to do the same. Be an open but critical learner; don’t trust anyone, and before ever trading with real capital, test out a method and practice implementing it in a demo account for at least a few months. If it is profitable over that time frame, only then consider using the forex strategy with real capital and with strict risk management guidelines. If it doesn’t work for you, don’t trade it.
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My Favorite Forex Broker and Why – The best forex broker I have used to date. Basically zero spread on ECN accounts (and low commissions), low spreads on normal micro and standard accounts, easy withdrawals and deposits, prompt customer support, regulated (not available to US residents).
Forex Day Trading with $1000 (or less) – A blueprint for how to build an income with a small trading account, by effectively utilizing risk controls, leverage and trading on a small time frame for a few hours a day.
MT4 Tips and Tricks: Making MetaTrader 4 Trading and Analysis Easier – Tips for using the most popular forex trading platform.