The best way to learn forex trading has always been demo trading.
In the past, there was no other option for new traders. But that is no longer the case. There are now many different platforms available, with some of them even offering free demos.
You forgot to mention cent accounts. I spent most of my training time in a ForexChief cent account. Prolonged training on demo trading can be detrimental to the trader in the future. In this case, trading on cent account is more preferable.
There are so many learning sources to learn about trading, and the forum community also become a place for traders to share and learn. Although all traders have the same opportunity to become successful traders, just like in general business, there are people who get success and some others get fail.
There are many ways to learn about forex and trading. You can read books, online blogs and watch YouTube tutorials too. You also get to learn a lot from forums like these as well. Demo trading is very much needed for practical learning. You will learn a lot more when you go live and get some exposure to the market risk as you trade with real money. Learning is an ongoing process for me as it helps in refining my skills and getting better as a trader.
The best way to learn forex trading is to practice. When you practice in the market, you get a taste of what it's like to be a real trader. It enables you to gain a thorough understanding of forex trading.
The most practical approach towards learning forex trading would be reading and then applying that knowledge onto a demo account by backtesting different strategies to understand the trading process. Traders need to use their own skill to move forward in the market and achieve the results they seek. Also, learn to control emotions as they are essential aspect of trading
I think the best way to learn about forex trading is to take an online course, and simultaneously practise on a demo account. When a beginner learns and practises at the same time, they understand the concepts better and thoroughly. Using a demo account will also help them know how to use the platform’s different features.
The best way to learn about forex trading is demo trading. I was reading and watching a lot of videos when I started trading forex. But once I started trading in a demo account, everything made sense. No matter what you read, trading on a real account is only profitable once you have mastered the techniques on a demo account.
Whether you do it yourself or attend a school, trading is a skill that you can’t develop without practise. Hence, implement your strategies or learnings on a demo account so that you can build a tested trading system at the end of the day.
Both theoretical and practical knowledge is equally important. The internet is the best resource for learning about forex trading. Here you can find a range of useful resources for learning new topics and improving your knowledge. You also need to practise trading on a demo account in order to enhance your skills.
The internet has everything for you to learn and explore about the forex market. Consider learning through books, courses, videos, or whatever you find. Learning is just the start of the game; trading with that knowledge is crucial too.
I do not think relying on others is a good opinion. I myself have self-studied to learn about forex trading. Waiting for a ‘mentor’ to teach you, especially if you do not know a professional trader through real life connections, can easily put a naive person in danger of online forex scammers. I have come across enough posts of newbies saying that they felt they have wasted their money, because so called ‘mentors’ they found online, they taught the basic stuff and their strategies did not work out well too.
Studying oneself can take a lot of time and hard work, but it is the most reliable method. Remember, slow and steady always wins the race.
If you focus on getting the basics understood firmly, then the best method is to implement things practically. For that, a demo account is the best. Traders need to spend time analysing and studying market psychology if they want to move in the right direction.