How to Learn Forex Trading?

To trade successfully on Forex market you have to learn the theory of Forex trading and gain practical knowledge while trading on demo account. There is some essential Forex education which is required for everyone who wants his trades to be profitable. But self-education shouldn’t end on these basic learning, one should continue to study new Forex techniques whenever he has time to learn, because knowledge and practice are the cornerstones of the successful Forex trading.

There are many Forex e-books available in the Internet, but I don’t recommend buying any of them, because the best e-books about Forex trading are available for free and can be accessed by anyone. Here is the list of the best books recommended for everyone who wishes to learn Forex trading:

* Introduction to Forex — is a basic Forex e-book by 1st Forex Trading Academy. It will introduce all basic concepts of Forex trading to you and will teach you the fundamentals of Forex market. It is a must-read book if you are beginner in Forex.
* The Law of Charts — introduces the basics of Forex charts, shows the important chart formations. You will learn how to recognize real trading patterns and false chart figures.
* Trade Your Way to Financial Freedom — a Forex book by Van K. Tharp that explains almost every aspect of the financial trading. You can find a lot of information about trading, which will enable you to earn a sustainable income.
* Reminiscences of a Stock Operator — a famous book by Edwin Lefevre which tells a story of one of the most successful financial trader in the history of Wall Street. This e-book is full of trading examples and in fact it is one of the best reads I’ve ever had.
* The Original Turtle Trading Rules — this book literally tells you the rules of successful Forex trading. You will find out about possible pitfalls before falling in them yourself. It is always good to learn from someone experienced.

Further learning can include practicing your skills on your Forex broker’s demo account — you’ll get essential experience in using techniques from the e-books you have read or your own developed trading strategies. Demo account makes it easy, because you don’t lose any money and you are free to try anything you want. Professional Forex traders test their trading systems on demo accounts first before using them on real money accounts.
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