How to Trade Forex – Best Tips
It’s finally 2021 and we’re all hoping for a better year, and that includes bigger profits in the FX market. Folks, if you want to start the year off right and start making some real money, learning how to trade Forex is something that you should do.
If you want to be able to work from home and make good money doing so, then foreign currency trading is definitely an option. There are many people out there who become wealthy via the currency market, and many more who make a good living trading those currencies.
With that being said, Forex trading is not something you can just decide to be successful at. It’s not like riding a bike. If you want to be profitable, and not lose a ton of money, you first need to learn how to trade Forex. This is not something that you can do based on a gut instinct. It takes knowledge, skill, patience, and practice.
Today, this article is for newbies, and it’s all about where the best place to learn to trade Forex is. Moreover, we know that people are strapped for cash right now with this whole COVID pandemic, so we want to provide you with a free educational resource. Let’s take a look at one of the best free online educational resources that will teach you how to trade Forex like a pro.
Trading Forex with Andrew’s Trading Channel
Before we get into talking about some easy ways to trade Forex, let’s talk about where this information is coming from. Today, we want to talk about Andrew’s Trading Channel on YouTube. For those of you who don’t know Andrew, he is a long time trader of Forex, stocks, crypto, and more.
He’s been in the business for around 10 years now, and he has seen plenty of success in that time. For the past few years, Andrew has made it his mission to teach newbies how to trade Forex. He is actually also the mentor behind the Income Mentor Box Day Trading Academy, a reputable Forex trading school.
Another one of the main ways he does this is via his YouTube channel that features thousands of the best Forex trading tips, guides, and strategies around. Of course, this resource is 100% free, and therefore perfect for people who are just starting out.
How to Trade Forex – Best Tips & Strategies
Right now, we want to take a look at some of the best and most popular Forex trading guide videos featured on Andrew’s trading channel. These are guides designed for newbies, so that beginners can easily grasp the concepts and put them to use right away.
Trading with a Small Account
The fact of the matter is that as a beginner trader, you probably don’t have all that much money to spare. Remember people, never risk any money that you cannot afford to lose, and comfortably so. Keeping this in mind, it could mean that you have very limited capital to start trading with, maybe only $100. There is no denying that starting your Forex journey with such little cash is hard.
However, it is not impossible, and if you trade wisely, you can easily grow that trading account into something substantial. In this particular video tutorial on how to trade Forex, Andrew teaches you how you can start with as little as $100 and grow that into something much larger in a very short amount of time.
Finding Good Trading Setups
One of the most important things that you need to learn how to do if you plan on being successful in the world of Forex is to find the right trading setups. Folks, there is a lot of work that goes into finding the right setups, or in other words, potential trades that can put profits in your pockets.
It all starts here, and if you are unable to find the proper setups, the rest will never come together. In this particular video on how to trade Forex, Andrew provides you with some awesome tips and rules on how to get started with trading and how to find those setups.
Signs to Cut Your Trade
Just as important as finding the right trading setups and the right exit points is knowing when you need to cut a trade. Folks, sometimes trades just won’t go your way. This is normal in Forex trading. Simply put, you can’t win them all. It happens to the best of us.
With that being said, money and risk management is essential, both for success and to prevent excessive losses in the event that a trade doesn’t go your way. In this particular video, Andrew tells you what the two main signs are that you need to close out a trade, particularly if it looks like it will go against you or has already started moving against you.
Trading Part Time with a Full Time Job
The final guide we want to touch on today is this one on how to be a successful part time trader while still retaining your day job. People, here you will learn that you can make great money trading part time, while not giving up the security of your full time job.
Learning to Trade Forex Like a Pro – Final Thoughts
There you have it folks. As you can see, Andrew’s Trading Channel is by far one of the best places to learn to trade Forex. He’s a great teacher that makes learning both fun and easy, and he doesn’t waste your time either. He gets right to the meat and potatoes of it all so you can start making money fast, not to mention that it’s free.
Now, the fact here is that this YouTube channel is indeed one of the best places for Forex trading tips, guides, rules, and strategies. However, it does not qualify as a ground-up education. If you really want a comprehensive Forex education that will teach you the basics and the fundamentals of it all, we would recommend checking out the Income Mentor Box Day Trading Academy.