Going into any market head on without learning about everything from how to spot opportunities to the best strategies to employ will likely result in disaster. That’s why it’s so important for any new investors to spend time an effort to learn trading and what is best practice, whether on the forex, stocks, commodities or any other market. These are five easy and effective ways that you can learn how to trade in a range of styles.

 

1. Attend Seminars

Some may think of it as a more traditional method, but attending seminars or courses led by financial experts is a great way to learn trading. It’s important that you research who is running the seminar or course to avoid being ripped off by some of the scammers, or paying over the odds for standard advice available online. If you find a quality seminar then by attending in person you should get a greater impetus to take notes and pay attention, rather than being sat at home streaming it in your living room.

 

2. Watch Online Videos

A much cheaper option is to watch as many online instructional videos as you can. YouTube is a hive of financial advice, though again you need to question the source first to decide whether it will be reliable or not. This is a much cheaper alternative and offers more flexibility to learn in your own time and from anywhere in the world with an internet connection.

 

3. Have Some Hands-on Training

Depending how you learn best, hands-on trading training could be the best choice. Rather than simply listening and absorbing as much information as possible, some of us learn best by doing. Online guided tours to using trading platforms and placing trades can help out a lot in this sense, especially when accompanied by training videos.

 

4. Read Guide Books

Another old school method that some learners will prefer is reading trading guide books aimed at learners. Many of these can be bought online and read alongside placing your first trades. Or for those on a budget you may be able to find one or two at your local library.

 

5. Practise with a Simulator

When you’ve done a little training, reading up on trading and feel like you’re nearly ready, use an online demo or simulator first. This provides you with virtual currency in a simulated version of the live markets, meaning if things go wrong and you realise you need more time, none of your actual money will be lost.

These five methods offer different ways to learn trading, whether you want to focus on currencies, commodities, stocks or anything else.

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April 19th, 2018 by financetwitter

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