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Forex Training - Pretending to Do It, Or Doing It For Real?

By : Elaine Berry
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Most people who have embarked on foreign exchange trading get hooked! Almost all agree that it's one of the most exciting, forms of trading you can be involved in - if not THE most exciting. Indeed it can give you a real buzz! So can motor-racing or ski-ing. But you wouldn't get in a racing car and start on a Formula One circuit without a few driving lessons first. And it's certainly an idea to get a few ski-ing lessons before embarking on the ski-slopes.

Like ski-ing or driving, foreign exchange trading can be dangerous if you don't know what you're doing. But in this case, the danger is to your finances.

So how do you obtain Forex training? The best idea is look for those Forex trading systems that provide one-to-one Forex trading training.

Some provide Forex training in the form of a demo account. The idea of a demo account is that you carry out all the trading moves, without using real money. So once you have your real account, you know how to do all these things - drawing trendlines, marking support and resistance levels, monitoring moving averages etc. Plus you can make your mistakes in placing orders to trade without losing money.

However, there is some doubt as to whether using a demo account is really the best way of learning foreign exchange trading. You really don't have the same attitude to your trades if you are just using play money. One of the most important lessons - if not THE most important lesson - in foreign exchange trading is to be ruled by reason and discipline, not by feelings, excitement or greed. When reason and discipline go out of the window, that is when you find yourself losing. This is a hard lesson you really have to learn, and without consequences you don't learn it.

So a better way to obtain Forex training is to find one of the Forex trading systems that enable you to start trading with a small amount of money, and at the same time provide one-on-one training as you do it. This way you learn the basics of the foreign exchange market, the terminology of trading, and how to develop successful trading strategies. If you make a wrong decision - which everybody does - you will lose money and this will teach you not to make that particular move again! But the money you lose will just be a small amount.

Basically, you only learn to do something by actually doing it, not by reading about it or pretending to do it. The most effective type of Forex training is hands-on experience. And don't forget - you never stop learning. However experienced you are at foreign exchange trading, you can always learn something new - and make a profit at the same time!

About the author:
To learn more about foreign exchange trading and how to obtain Forex training, come and visit Forex/forexindex.html" target=_blank>http://www.bizwrite.co.uk/Forex/forexindex.html


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