It should be self-evident that in order to successfully trade the forex markets, a trader needs to commit to the very best training, which generally means studying at least one forex course. That said, surprisingly few traders actually do so, which probably goes a long way to explaining why 95% of traders lose money in the markets.
We would contend that the best form of forex course training, that gives the maximum chance of profitable trading…
…is to master technical analysis – the art and science of studying forex price charts. This sort of forex course teaches you to understand market price action, forecast where the market is most likely to go, and even determine repeating price patterns and setups that you can then create forex trading systems around.
This sort of forex course requires that you master the basic concepts of trend, support and resistance, trendlines, oscillators, Fibonacci levels, price patterns, and ultimately Elliott Wave and Gann analysis as well.
Certainly, there can be some limited value in learning some basic fundamental economic analysis if you really wish, but its ultimate application in the foreign currency markets is limited to perhaps timing sudden price movements based on the release of key economic data that the market focuses on. Ultimately, you can do the exact same thing with a calendar, and hence have really little need for extensive forex training involving Economics!
Above and beyond all of this though, the most important forex course training that you can possibly engage in is to actually train in becoming an excellent trader, i.e. in the process of trading itself. No amount of head knowledge of economics or technical analysis makes an excellent trader. You become an excellent profitable trader by actually trading, over and over again, making note of successful strategies, and taking heed of mistakes you made. The very best way to do this initially is to either paper trade, or else trade a very small amount indeed. In the beginning, the key to successful trading is simply… to STAY in the game!
Overall then, the subject of forex courses is a broad one, and as complex as the markets themselves. Hence, you should take time in mastering the various areas involved and be patient with yourself as you participate and gradually improve as a forex trader in the currency markets.
Make sure you read the free report The 7 Deadly Mistakes Of Forex Trading which is a full and detailed free forex course in itself, packed with solid tips for increasing your foreign exchange trading profit.
