Everyone has a different type of learning style - so when it comes to finding forex education, it's a great idea to find something that works for you. Forex can be enough of a minefield as it is - so you want to make sure you're giving yourself the best chance of learning it well! That might be finding a beginner's guide to forex podcast if you're an auditory learner, or diving into a great book with diagrams if you're more of a visual learner.
This blog is part of our new Make It Happen series, a series of blogs aimed at total beginners to forex: for people working a full-time job, with little capital to start off with, and limited time to learn how to trade. Sound familiar? Here’s how to get started on your trading journey.
What are the different types of learning styles?
The different types of learning styles tend to be split into a lot of different categories: visual learners, auditory learners, kinesthetic learners and reading/writing learners. You probably already have an idea as to which one of these you are - if not, think about how you best process information. Do you prefer to write something down, or do you remember every detail of a podcast?
How can you find the right forex education to suit your learning style?
1. Visual learners
- Resources: videos, webinars, Facebook live
- Link: 3 Best Forex Trading YouTube Channels
If you're a visual learner, the best resources for your forex education might be how-to videos, live webinars, and Facebook live streams. You'll likely respond best when you see what you are being taught. By viewing your binary options training on video, you learn through imagery - so seeing charts, trades and candlesticks in real time is like gold dust to you. You use these skills in the real world all the time, so it's a powerful tool in the trading world.
Chart trading education is the best way to learn if you are a visual learner. You can also combine technical analysis and chart reading in your learning process by studying an actual market's behaviour. By studying the charts, you can build a framework for trading decisions and execute transactions with a high probability of success.
In short, if you're a visual learner exploring the world of forex, YouTube videos are your friend - discover some great forex YouTube channels to get stuck into here.
2. Auditory learners
- Resources: Audio books, podcasts
- Link: 5 Best Forex Trading Podcasts
If you're an auditory learner, check out the podcast shows by some of the world's top forex traders. These shows provide significant forex education: you can hear from the experts, and some traders offer precious call-in shows where they explain their trades in great detail.
Other traders provide ongoing podcast shows that break down their trades and give great investing advice for free. Many forex education companies also offer audio seminars you can access from a tablet, mobile or laptop. You can listen to these easily while driving or doing chores around the house.
In a nutshell, call-in shows, podcasts, and audio books are perfect for auditory learning styles as they'll provide a lot of interaction. These are typically live events ranging from an hour up to all day. You get to discuss questions, and hear others' opinions and ideas. Try 7 best forex audiobooks, or the best forex podcasts.
3. Kinesthetic and tactile learners
- Resources: Objects, puzzles, flashcards
- Links: 8-Step Ultimate Trading Plan Checklist
Kinesthetic and tactile learners tend to learn best by doing. These include learners who learn best with their hands on a computer or another tool. They like to build things such as models or puzzles. These learners are more interested in doing exercises and hands-on activities than listening to lectures.
If this sounds like you, programs with the right mix of videos and animations may work the best. Forex education programmes that offer puzzles you need to complete will be beneficial. You could also seek out a tutorial that provides flashcards on frequently asked questions on different subjects and topics - so you're always engaged.
If you're a kinesthetic or tactile learner, try learning by writing flashcards so you can deal with a physical object, or making a trading plan you can interact with - on notecards or mindmaps, for example. If you have a to-do list to get through, you could use a set of objects to represent 'done' and 'to do' items, moving them to a different place once they're completed.
4. Reading and writing learners
- Resources: books, articles
- Links: 6 Best Forex Trading Books
If you're a reading and writing learner, you'll learn best through independent study, books, journals, blogs, and forums. You might also find written instructions helpful when watching a video - so switching on subtitles might help.
The best resources to start your forex education as a reading/writing learner would be books and articles - for online pieces, you might also find it helpful to print out, highlight and annotate as you read. This is a good way to learn about the forex industry and markets. Take a look at some of the best forex books here.
Regardless of the type of learner you are, you'll probably find that the highest-rated forex education courses use a combination of reading, audio and visual styles of teaching - but once you know your own learning style, you'll find it easier to adapt these to your needs. For example, if the video asks you to read an article on support and resistance, but you know you work best listening to other people discuss, you might search for a podcast on this topic instead. You've got this!
Stay tuned for more in the Make It Happen series for practical tips on learning forex as a total beginner and getting your head in the trading game...