It is not hard to learn Forex Trading. The biggest challenge is practising what you have learned. When getting started, there are four essential stages you need to go through. Skipping any of the stages will land you on the list of 99% of forex traders who give up a few weeks or months after joining the business. We will take you through an enjoyable learning process that favors complete beginners in this Forex trading course.
Table of Contents
Four Steps to becoming a successful Forex Trader
Gain Forex Trading Knowledge
Like any other profession, you need tolearn before you begin earning. You can not just wake up and decide that you want to trade the markets with real money. You will lose your hard-earned cash before you start shouting how forex business is a scam. Learn about forex terminologies, chart patterns, candlestick patterns, trading styles, risk management, trader’s psychology, and trading platforms.
Practice how to become a successful Forex Trader
After gaining basic forex knowledge, you move to stage two, practice. Register a Demo Account with a Forex Broker. Forex brokers provide free virtual money for new traders to practice before depositing real money. We will teach you a better way of practicing how to trade the Forex market.
At this stage, you need to start connecting with other traders. There are a couple of good forex discussion forums you can join and learn from other experienced traders. If you cannot find one, let us know, and we will invite you to the forums we have joined.
Go Live – Start Trading on a Live Forex Account
The next step is to open a live forex trading account, deposit real money and start trading. You will not find it so challenging if you developed a good Forex strategy in the previous stages.
Keep Learning the concepts and strategies of Forex Trading
Executing live trades is where you will gain the most experience. Trading a live account is an 85% psychological battle with yourself. OpWell Forex is here to guide you on controlling your emotions when you make a lot of money and when you lose money. By the end of this forex training, you will also learn to perfect your trading system by avoiding mistakes you may have made in your first trades.
Forex Trading Course Syllabus
Here are what you’ll learn in this Beginner Forex Trading Course
- Introduction to Forex Trading
- Secrets About Forex Trading I Did Not Know When I was a Beginner
- Installing and Configuring Forex Trading Software
- How to Read Forex Chart
- Three Types of forex Market Analysis
- One of the Best Beginner friendly Forex Trading Strategy
- Forex Trading Plan
- Risk Management
- Trading Psychology
- Walking the Trading Journey Alone
This course includes:
- Free lifetime access
- A series of well-detailed easy-to-read posts.
- Access to a private community group of serious traders upon completion
Requirements
- An open mind to learning
- Smartphone (but a laptop is recommended)
- At least 1 hour of your time per day
FAQs on How to Learn Forex Trading
Is It Easy or Hard to Learn Forex Trading?
Learning to trade forex is very challenging for most beginners because they come to the business with the wrong mindset. The truth is, you need to spend hours, days, weeks, and months developing a working strategy that will give you better investment returns every month.
How Long Will It Take Me to Learn Forex Trading?
There is no fixed period that it should take a beginner to learn how to trade Forex because many factors influence the duration.
For example, let’s say there are two learners. The first learner dedicates 3 hours of his time per day to the forex chart, while the second learner dedicates 5 hours per week. Do you think both of these learners will have the same level of skills after a given period? Of course not.
That is why one can not predict the period it can take them to learn. But the good news is that if you are passionate about Forex and are working hard to obtain trading knowledge, you can start seeing results as early as six months.
How Much Does It Cost to Learn How to Trade Forex in Kenya?
Beginner Forex trading course is very expensive because successful forex mentors spend a lot of time learning and developing a working strategy. The average cost is Ksh 30,000. Some mentors charge as high as Ksh 100,000, while others charge as low as Ksh 10,000.
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Here at OpWell Forex, we give you the privilege to learn for free because we understand that not everybody can afford the training fee
How Much Capital Do I Need to Start Forex Trading in Kenya?
One truth that only a few traders will tell you is that you need a lot of money to make considerable profits in Forex. Most forex brokers allow traders to start trading with as little as Ksh 500, but it would be best if you don’t fall for this trap because there is no way you will become rich by investing Ksh 500 in Forex.
If you want to build a lucrative career in the forex trading business, do not trade with any amount less than Ksh 100,000.
If you cannot afford that amount and want to grow a small account, you can start with a minimum of Ksh 10,000 and compound it. The downside is that you must demonstrate the highest level of patience. In addition to that, you must manage your risks very perfectly.
