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Forex trading seems simple, but few succeed: 95% of new traders lose their money and only 5% win. This may seem like a strange fact when anyone has the potential to learn how to trade forex.

The answer is that most traders just learn the wrong forex education and this article will give you 4 tips to get the right education and win.

Firstly, the growth of the internet has made a lot more information available to forex traders and some of it is great, but most of it is rubbish and will simply ensure you lose and this brings us to our first piece of advice.

1. Beware of sellers selling education online

Most of them make me laugh for $100 or so. I can get a system to make regular profits every day, trade with 80% accuracy, or even become a millionaire, all for a few hundred dollars!

Don’t buy them, they won’t help your forex education.

There are just marketing guys, not merchants; if they were they would shut up and trade for themselves, if making money was as easy as they say they wouldn’t need me or you.

2. Do not learn the wrong Knowledge!

There are many myths that have been perpetrated on the net mostly by sellers and let’s start with the biggest one: Forex day trading works.

No it doesn’t, day traders don’t make money – period

All short-term volatility is random, so it can’t be; This is why you will never see a day trader with a real time profit history.

Scientific theories are a great way to make money, another stupid myth.

If markets passed into scientific theory, we would all know the price in advance and there would be no market; However, new traders keep learning junk theories like the Elliot wave and Fibonacci numbers, they lose and wonder why.

3. Get insights from the real pros

You can do this by simply going to Amazon.com and you can get a really good forex education from traders who have walked the walk, rather than just talking for the talk.

For around $100 or so, you can get some great advice (check out our 10 Best Books for Traders) and get it. They will inspire you and give you a solid foundation in what it takes to be a successful forex trader.

This is an investment in your forex education that is well worth it.

4. Work smart, not hard.

Forex education involves working smart, not hard, and acquiring the right knowledge.

If you want to learn how to trade forex, EVERYTHING you need to build a successful system is available for free on the net.

Check out our other articles, there is great information on technical analysis, formations and indicators and it’s all free.

You are not rewarded for the effort you put into trading forex, you get rewarded for getting your forex signals right, nothing more. All you need to do is get the right information and you can become a successful trader.

CONSIDER THIS FACT

In 1983, legendary trader Richard Dennis, to prove that traders could be taught, took 23 traders with no trading experience and taught them how to trade in 14 days.

These merchants earned Dennis $100 million! The story is told in “The Way of the Turtle” and also in Market Wizards – get these books and you’ll see that Dennis made them focus on the RIGHT education to win without filler.

Now, you may not make as much money as the turtles, but anyone can learn to trade and learn to earn if they focus on the right education; you just need to find it, digest it, apply it and hopefully this article will have pointed you in the right direction – Good luck.

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