If you are looking for the best way to learn forex, then I strongly suggest you don't do what the other 95% of traders do. Because that's how many people lose money in trading forex. You want to be a part of that elite 5%.
I know it may sound difficult but it's really not. It's all a matter of not falling into the same trap as so many other traders do. If you can get a forex trading education and resist the temptations of taking shortcuts and trying to take the easy way out, your chances of making money forex trading greatly improves.
Indicators Are Lying To You
One thing most new traders fall prey to (I was guilty of this myself) is going indicator crazy. Throwing indicators on your charts are kind of fun when you are first starting to trade, unfortunately this is not the best way to learn forex. What eventually happens is that you become too reliant on these indicators.
About 99% of the indicators that you see on your charts are completely lagging. This basically means that they are only good for telling you what has already happened. They provide nothing in terms of leading information. That's why they look so great when you back test them, but when you trade them live, it's a completely different story.
Don't Think Trading Robots Are The Answer
I think trading robots have caused more traders crashing their accounts than any other reason. When you first start getting a forex trading education it's hard not to be enticed by them as the thought of automated trading sounds fantastic. You can just envision yourself spending time doing the things you love to do while your trading robot makes you millions.
Well, that's the dream, but when it comes to the harsh reality, it's a completely different story. You'd be hard pressed to find many trading robots that have had any kind of long term success. I know from experience as when I first started trading, I must have tried every single one (at least it felt that way) that was on the market, and eventually they all ended the same way; negatively.
