Know the Contents First!
For any courses in currency trading you will need to know several things otherwise you will be wasting your money.
What Level Are You At?
The first thing that you will have to do is determine at what level you are at as far as currency trading is concerned.
Do you just want information about the forex markets because it’s something that interests you? Is it something that you are thinking about for a ‘work at home’ business? Is forex something that you are already knowledgeable about and you want more information?
As you can see what is a general term can have many specific users after specific information. What I will do in this article is give a brief run down on what a ‘course’ should contain for both beginners and more advanced knowledge seekers.
The first thing to remember and judge a course by is how it will help YOU learn and understand what is important to you – otherwise you will be just wasting your money!
The first step is to look at the contents of the course – Does it have chapters and/or projects relevant to where you are ‘at’ and furthermore if it does- Does the subject matter ‘stretch’ you? It should if it’s worth it’s money!
Remember what you want to learn has to be new, relevant and work!
The first element that a good course must have is a good ‘overview’. This should include information how markets work, an analysis of supply and demand, an analysis of risk and the types of risk i.e. market risk and sovereign risk for example would you be less risky trading JPY (YEN) than the currency of Somalia? This is just for starters.
Look for Definitions – These should include simple to follow explanations!
The course should then go into, for example the main traded currencies, what are spots, forwards, CFDs (contracts for differences) and the markets that these are traded on.
More content should include definitions on ‘pairs’, trading styles ie, day trading and scalping. Information should include the trading ‘mechanics’ such as the types of brokers available and the variety of accounts – you should at least be introduced to the concept and workings of margin trading and potential scams out there. Please visit:- fx사이트
Then and only then should you be exposed to the actual ‘meat and bones’ of trading. Strategies, Tactics and Action!
Every Worthwhile Course Should Contain Technical Analysis!
A major part of the content should deal with technical analysis, including charts – the types available, an overview of chart patterns what they mean. A definition of support/resistance levels and trading signals and some form of ‘system’ to tie these elements together so as you don’t become overwhelmed with information overload!
One of the most important elements, a further development of signals, should be an introduction to Moving averages, especially simple moving averages (SMA) and Moving average Convergence Divergence (MACD).
If you’re new to forex – don’t be frightened by what I have mentioned – I am trying to be honest and give you the big picture of what you need to know to become successful at trading – if that’s what you want!
As you can imagine there is so much more and if you are going to choose courses in currency trading then you should prepare yourself for what you have to learn!