There are so many sources available online today that “teach” many would-be traders about Forex trading – but how many of these sources actually offer an unbiased, balanced education… for free?
In my humble experience, most free sources of Forex education will have some sort of commercial motive – they’ll either want you purchase their trading platform, or to become a customer of their trading broker.
And in case you didn’t know, most brokers online today benefit when you LOSE money in trading. Talk about a conflict of interest huh? It’s sad, but it’s the truth.
So be very careful about where you learn about Forex trading.
Here are 2 suggestions where you can get genuinely useful Forex trading information online for free:
1. Online forums
A good place to start is through online forums about Forex trading. Forums are usually filled with good-intentioned people, many of whom are willing to share valuable thoughts and experiences with other traders like you and me. You’ll find some of the most open and honest opinions about Forex trading in forums. And did I mention that you’ll get all this information for free? Forums are a great place to learn.
However, try to stay away from forums that are owned and moderated by Forex brokers… for obvious reasons you wouldn’t want to be taking advice from people who make money when you lose money!
2. Forex News Sites
There are a couple of good Forex news websites that can provide a pretty decent foundation for beginners. A quick search for the phrase “Forex news” will provide you with ample choices.
However, the content in many of these websites are (in my humble opinion) too shallow for any real learning. But if you’re completely new to Forex trading, these sites are a great place to start.
Although paid information is almost always better than free information, there are indeed very useful (and free) websites available where you can learn the PROPER way to trade Forex. But remember – not everything you’ll learn online is always true… take everything you learn with a healthy dose of skepticism.