The idea came up that I could share many of the video training sites that I know of with my readers. Forex video training has become much more popular in recent years. There’s no wonder why—learning by video is fundamentally easier than it is to learn by reading along. I wanted to share with you some of the best sites that I have found that will help you in your trading career.
Several of the sites that we are going to be looking at are good training sites, but there is a slight conflict of interest because they are also independent brokers who would all enjoy you signing up for a live account with them. I don’t say this to scare you off, but only so that you will be aware and not think that I am trying to recommend to you one broker or another.
Let’s start by taking a look at our first video website. These sites really are in no particular order. Although, I did save three extra sites for the end which do not have video training, but are very useful resources for you to benefit from. I wanted you to have these extra three sites because I thought they would be valuable to you.
The first site, Forex.com, is represented by a broker. I am not endorsing this broker although they do seem good and legitimate. Personally, I would not recommend to you any broker that I have not use personally. Since I do not have all the time in the world, I have not tested this broker personally. They look good, and seem to have a good reputation, but since I have not used them as a broker personally I cannot give a final seal of approval for them as a broker.
But this really doesn’t matter. The point of this article is not about broker selection. I just wanted to make you aware that some of these video training sites are from Forex brokers. Forex.com here has some great introductory videos that will teach you basics of the currency markets and how to trade them. It will also give you insight into how to use some currency trading platforms.
The videos here are rather basic and rather short. They are more educational as overviews than they are as detailed and comprehensive reports or training manuals. As long as you are looking for basic, general information about many of the fundamental topics in Forex trading then this is a good site for you. It is a good starting point and I promise that you will learn something here.
This next site, CompassFX.com, offers a gargantuan video training library. The lead trader and trainer, Dean Malone, has poured years of his life into creating this massive library. Much of it is market commentary, but this is very important to study as well. By looking back at market commentaries in the past you can study how accurate they were and what the trader was thinking to help them arrive at the conclusions that they have presented.
There are products and training courses available for sale on this site, as there are with many other sites. Again, I am not recommending the products or training to you specifically, I am just recommending the training fault in video library.
There are hundreds of hours of video training available on the site and I wanted you to have access to it. Imagine if you were to watch every single video on this site… Would you be a better trader at the end of it? I’m guessing the answer is yes. You are going to get ideas on how to improve your own trading by listening to the advice and opinions of others. This does not mean that you must adopt the advice and opinions of others, but just hearing more information and training about the Forex market will help stimulate your own ideas on how to improve your own trading.
Strong Focus On Fibonacci Trading
Throughout these videos you will notice that the trader uses levels and Fibonacci retracements as one of his primary styles of trading. This is not a method of trading that I personally use, but there are tons of traders that swear by it. Tons of traders love Fibonacci retracements and levels to help them understand where the market has come from and where it may be going. There is a lot of truth and accuracy with Fibonacci levels. But you should know that there is no way to predict the future correctly all the time. Fibonacci levels are merely a guess at where the price could go. But oftentimes prices will not hit targets or may bounce between multiple levels which requires advanced trading skill and experience to be able to read and react to.
Chart Patterns, Trend Lines & Range Breakouts
In this video library there is also a good amount of discussion on different types of chart patterns like a wedges, pennants, flags and triangles. There is also discussion of trendlines, channels and other fundamentals of market trading. Many of these fundamentals are brilliant and have stood the test of time. You can learn from these lessons and educational videos and apply these trading fundamentals to your own business—they will help you become a better trader. I very much encourage you to visit this site and take in these different training videos on chart patterns, breakouts and the like.
Indicators And Divergence
There are two more sections of this website which I think you should pay particular attention to. The first section has many training videos on different indicators and how they function. Many people use indicators when making decisions for their trading without understanding how the indicators work in the first place. You will be a better trader when you have a better understanding of how each of the indicators works that you trade with.
NOTE: This is not an encouragement to load up your charts with a bunch of new indicators. I just want you to be aware of different indicators that are available (perhaps some that you’ve never seen before) and how they operate fundamentally (perhaps you have never known how they operate or why they do what they do). The more you understand about the Forex market the more you may be able to profit from it. Taking in this training will help stimulate your own ideas for improving your personal trading method.
Divergence is another topic that is discussed here. Many people do not understand the principles of convergence and divergence. I do not use these techniques and patterns myself, but again, each trader is different and they may be appealing to you. Again, some traders will swear by this method of trading. Explore these videos and find out for yourself.
Good Fundamentals For The MT4 Charting Software
There are also very good videos that will help you better learn the MetaTrader 4 charting/trading platform. Most Forex traders that I now use this platform. It is robust and very versatile to allow for robot trading, trade-assistant trading as well as countless indicators to be used for making trading decisions. There are good training videos available on the site which go through the basic and advanced topics that can be covered on MetaTrader 4.
You will also find some sections of the site that covers very basic topics which are useful for beginning traders. I like also on this site how there are hundreds of tips and suggestions for better trading. In my opinion, Dean Malone has created a vast video library here that is one of the best I have ever seen. I hope you take advantage of it and improve your trading business through these videos.
This next website contains some very good information about a very specific trading style. The style may or may not be for you, but you should take a look and see what you think of it. The trading style is very plain and very fundamental. The author/trader is named Nial Fuller and he believes in simple price action trading strategy.
Many of the articles that are available on the site contain information about the non-tangible side of Forex like emotional control, risk management and principles how to be a successful trader in general. However, the video side of this website is more dedicated to showing trading strategies, real trading examples as well as illustrating ideal price action setups.
Several of the strategies used on this site are illustrated by video. They are educational and will help you learn how to trade better regardless of the strategy that you use. This site has an emphasis exclusively on higher-timeframe trading. This higher-timeframe trading includes daily charts, 4 hour charts and 1 hour charts, but nothing less than hourly charts.
This is a very good trading website for those who have full time jobs were those who prefer not to do intraday trading. This is a site for swing and position traders who are interested in holding positions for up to a week long and are aiming for upwards of several hundred pips per trade. If you prefer a scalping type strategy then this website may not be for you, however there are good articles on mastering trading emotions and other non-tangibles of the Forex market. If you are a higher-timeframe trader then this site may be right up your alley.
This Bloomberg.com site has a wealth of current news and cutting edge information. It is a very modern and up to date website that can be helpful for just about any type of trader. This is simply one of the best sites available to help a Forex trader learn some of the fundamental reasons why currency prices will rise and fall. I highly recommend that you visit this site and spend time watching the videos here. However, make sure not to spend all of your time watching these super-high-quality videos because then you won’t be paying attention to your own trading.
There are videos here on this site that discuss different indicators which are very useful to learn. Bloomberg does a very good job with interviewing experts and people who are much smarter than you or I—these are experts who have been working for sometimes 20 or 30 years in the currency markets. We can all learn from their wealth of experience as they explain the way different indicators work or how different financial markets react to each other (for example, how the prices of oil will directly impact the value of the U.S. dollar.)
I recommend that while you are on this site you look at the following videos:
- Gold & FX – This video discusses the relationship that gold and the currency markets will have with each other. Gold can be traded just like a currency pair. Some brokers do not offer commodity trading like gold and silver so you will need to check with your own brokerage to find out if they do.
- Bonds & FX – This video is similar to the gold video that talks about the relationship that bonds have with the currency trading market.
- Oil & FX – This video discusses the value of the US dollar as it relates to changing oil prices. It is educational though not as thorough as we would all like it to be.
NOTE: Try not to get caught up with a massive amount of information and news that is available on the site. You could literally spend all day watching these videos and not get any work done for your trading business. Learn from the currency trading educational videos and also from some of the indicator overview videos but do not look at the site as a complete traders’ resource. It has good material but most of it is in overview form.
DailyFx.com has a wealth of information but it is a little scattered about. I wanted to first share with you that free Forex video trading course that they have available on their site. The next website is also going to be from DailyFX.com but I thought you could benefit from them both.
This training course will teach you some fundamentals about the Forex market as well as some basic trading strategies. It is not the most advanced material in the world, nor is it the most in-depth, but for many traders it is very good and useful information.
Some of the training videos will have useful comments made from members of this forum-like resource website. You may recognize DailyFX.com as one of the sites where you can see current Forex news announcements.
6. DailyFX.com market news
This second link here from DailyFX.com has some great current-market-conditions videos. These videos go through and analyze different currency pairs and provide commentary on them. Some of these videos can help you with your trading analysis, but they can get a little long winded as well, so I want to caution you there too.
Do not base your entire trading strategy or market analysis around these videos. You should be doing your own market analysis based upon your trading system. There is good information presented in the videos here on this part of the site, but again, make sure you are watching the market for yourself.
You will find also some very long market commentaries on different currency pairs. Just the other day a video came to attention about coming setups ahead of an ECB news announcement. Part of the video was discussing how the GBPJPY would react during the news even (and after) and this the type of information that can be useful for traders. Again, make sure though that you are doing your own analysis and not just listening to people in videos online. Trust your trading system and your own instincts.
These “Daily Briefings” can hold some good and interesting information as well: http://www.dailyfx.com/forex_market_news/daily_briefings
ForexEducation.com is a great collection of trading education videos. There are videos on analyzing the Forex market, trading platform tutorials, Forex trading strategies, as well as beginner course material with a large number of videos to help traders. One of the best things about this site is that they seem more concerned about educating than they do about selling. Sometimes it is rare online these days because we are overwhelmed with people trying to sell us something.
There are some live webinars that you can attend from the makers of the site also. Two to three webinars per week are available on different topics ranging from open Forum Q&A’s to How To Select And Setup Your Forex Strategy. I have not attended one of their webinars myself, but based on the other videos on the site I would imagine that they are very informative and valuable for traders, especially new traders.
I recommend you start with the first great overview video of why most traders lose money.
There is another great video which will talk you through the top 5 most common trader mistakes. This is good education and contains great reminders that we all need.
http://Youtube.com > Search for Forex Trading, Forex Education, etc.
Everyone on the planet knows about YouTube at this point I would guess, and this site comes with more warnings than any other site. There are some good videos on Forex trading available and YouTube. But, I would estimate that there are nine or more bad videos and bad trainings (or stupid promotions) for every one good video.
One of the best things that you can do once you enter in a search term like “Forex Education” or “Currency Trading” is to filter your results to only include the videos that are longer than 20 minutes. Generally, the longer the videos the higher the quality. This is not true in all cases of course, but you’ll be surprised how accurate a statement it is.
I have found some videos that I think might be pretty fairly interesting to you. There certainly not required watching by any means. Some of them are interesting and some of them are very educational. They can help you learn Forex trading in slightly different ways. The first video is a much older video and it is a glimpse into a time that most of us traders never knew. Click here to watch the video.
This video is a documentary on currency traders from 1986. If you’re like me then you will find it very fascinating to see how things used to be done. It might also give you a very strong appreciation for the technology and the conveniences that we have today. For you, it help you learn the lesson of slowing down and taking your trading as much more important as you had been previously. You might gain also a greater appreciation for how much easier technology has made it for us traders.
I would also highly recommend this video about an options trader who turned a relatively small account into many millions of dollars and lead a trading investment team to do the same: http://youtu.be/BquDGE9KxZQ
While it is not a video that is about Forex or Forex traders, it is an incredibly valuable video and an excellent interview that helps you see what a very successful trader is like.
There is a third video that I would recommend to you which can help you learn how to trade the news: http://youtu.be/880UGOQyK40. This is a fundamentally good video that’s taught by an experienced, professional trader. If you have ever wanted to trade the news then this is a video that will become very helpful to you. The video is titled Three Basic Forex Strategies For Beginners and I think you will enjoy it and find it helpful to your trading.
This site really is just an organizational tool. It categorizes and compiles some of the best and most popular videos on Forex trading that it has found online. It is helpful because all the videos are in one place and you can search according to the different topics. Here are some of the topics that are covered here.
As you can see there are some good topics here. Above is just an image, but you can head right over to their site if you’d like to get into some of this good video training. As a firm of reminder though, make sure that you use discretion when accepting advice from random YouTube videos. You need to apply common sense as with anything in trading.
The first link here includes a fantastic video library that will teach you how to use the MetaTrader 4 trading platform extremely well. It is one of the most comprehensive libraries that I have ever seen on learning MetaTrader 4. Again, IBFX is a broker, and this is not a recommendation of them as a broker. It is simply a wonderful video resource that you can use to learn the most popular trading platform there is. (Make sure to check out the Platform Tips And Tricks section toward the bottom of the page.)
The second link is not quite as robust, but does contain some good information about beginner Forex trading. There are some advanced topics as well and I suggest you visit and read through the material.
NOTE: Make sure to visit the “Economics Of Different Countries” section where you will learn about specific details and news events that will impact each country’s currency. This is a nice, helpful section that is especially good for beginning traders.
These are now the sites that do not have videos but rather are strong educational materials that I wanted you to have nonetheless. ForexPeaceArmy.com is, in my opinion, one of the best and most useful resource tools for retail Forex traders like you and me. They have countless resources available to help you as a trader which you can find on their main site ForexPeaceArmy.com.
This link that I have included here is a rather complete training for currency traders at pretty much any level. Beginners will benefit hugely from this material, but there is also great material for more advanced traders who are looking to expand their knowledge and experience.
ForexPeaceArmy is also a forum and you can learn a lot from talking with other traders. In fact, one of the best ways to learn trading in great detail is to learn from the experience of others and by communicating with other traders. Many of the traders that you run into will be struggling with their own trading, and some others will be profitable and enjoying good success. You can learn from both. I recommend that you visit the forum and have a look at the different topics.
There are thousands of different things discussed and you can learn something from them all. But as reminder, I would encourage you not to lose focus on your own trading system and the time that you spend in front of your own charts. You can learn from the success of others but you must develop your own raw experience. You must spend time in front of the charts and you must take time mastering your own system. Do not get distracted and hang out all day long in forums.
I recommend you take the time to go through this entire “Boot Camp” Forex training provided by ForexPeaceArmy. It is very valuable training and will help give you many new ideas.
The NasDaq here is one of the financial markets in the United States so they have a high budget for producing their website and a good set of topics here for your education. There are resources on brokers and there are educational materials suitable for beginner, intermediate, and advance traders. I think you will like some of the information that you can learn from this website.
There is also a Forex News section, but all in all this is not a very thorough site. There is, however, some good training pull together that will help you learn the basics. There are not any videos that I have found so that is why it is down near the bottom of our list. (They are really just pulling most of their material from another financial website called Investopedia.com).
Here I have saved one of the best for last. BabyPips.com is one of the most complete Forex trading training resources available. There is a wonderful, step by step, training education here at BabyPips.com.
If you have not been to the site before then I highly recommend you visit it right away. There is a very active forum attached to the site as well. You should start with the official school, which will walk you from varied beginner to very advanced lessons. It will teach you just about everything you need to know about being successful with Forex trading. It will give you ideas and resources to help you with your trading business. I highly recommend you go through this training.
In other parts of the site you can find some articles, other resources and tools that will help you in your trading business. One of the things that I like the most about the site and its trading school is how it will help you track your progress. One of the things that happens to us is that we get distracted and we lose our focus. Isn’t it often easier when you have a web site that will help you track and measure your progress through a long educational material?
Bringing It All Together
I’m glad we were able to talk for a little while about these great educational resources. It is a daunting list at first, but as you go through the material step by step you will begin finding greater success. You will be flooding your mind with these wonderful ideas and great training. Perhaps you should set aside 1 hour per day exclusively reserved for your Forex education. Think about how valuable this time could be to building upon your success (or finding success and the first place if need be). I think we both know how valuable this dedicated time could be to your overall trading results. I wish you the very best with continuing your trading education. Make sure all ways to pair your education with proper action and practice. Practice these techniques that you are learning on a demo account and you will gain great experience. Again, I wish you the very best!
Now which one of these sites you like the most? Or maybe you have something even better to offer?