Education for working on Forex.

Most of my friends, upon learning that I make money on Forex, ask, "What kind of education do I need to do that?"

Yes, I'll be honest: I graduated from university with a degree in finance, so I can say with certainty what I learned from my five years of study.

Practically nothing. Everything I've used in stock trading can be learned in a week; it's mostly general knowledge about fundamental analysis and currencies.

So, what kind of education do you need to trade Forex?

Firstly, to trade successfully, you definitely don't need to graduate from university and spend years on it. As practice shows, more than half of successful stock market players do not have a specialized education, and their previous specialties are far from finance.

It is much easier and cheaper to learn stock trading on your own. Alternatively, you can take courses offered by dealing centers , although you shouldn't expect to become a true trading guru after them. Typically, courses only provide basic knowledge and the fundamentals of trading strategies.

If we divide the sources of theoretical information into their components, we get the following picture:

• MetaTrader 4 instructions - 10%, which essentially contains all the necessary information on working with the trader's terminal, and in fairly detailed form. This is the most reliable source for describing the technical side of the issue.

• Forex books - 50%; it is best to start with manuals for dummies, and only then move on to a more in-depth study of technical analysis and other options for studying the market.

• Forex websites - 40%, blogs, information portals, forums. As a rule, in addition to theory, they also contain a wealth of practical information, trading recommendations, and scripts for improving trading efficiency.

However, it's important to remember that theory is only half the key to successful trading. Without daily practice on demo, or better yet, cent accounts, you're unlikely to start making money, and the theoretical foundations you've acquired will remain useless knowledge.