Let’s be honest, becoming a pro takes time, and an irreplaceable experience you cannot have just by watching videos. On the other hand, videos can set you on the right track vastly shortening the time needed to get to the top of the forex game. As we live in the digital age where information exchange is speeding up it also makes things change very fast. There is also a problem of having too much information that does not really matter, or even set you back. Therefore, here are 7 videos that will help you see how deep the rabbit hole truly is. Once you are done you will need some courage to start walking the traders’ way.
Ray Dalio Principles
The author of one of the best economy pieces “Principles” tells a lot more than just about trading forex. We consider this book to be the base about how the global economy should be looked at, and forex just being a small part of this global capital system. Understanding how things work and the experience of a giant such as Ray Dalio will be a valuable lesson and will change how you perceive the economic world around you. Many videos take the gist out of his book, and we recommend the ones that feature Ray himself as the speaker. YouTube is full of his videos but you can start with the one titled “Principles for Success from Ray Dalio: Founder of the World’s Largest Hedge Fund” posted by Summit group. Of course, this is just one eye-opener for many common folks, and we believe it sets pillars that will hold your mindset as a forex trader.
Robert Kiyosaki Lessons
The next video we recommend encompasses what is going right now and intrinsically wrong with the system, and what the majority of people think about money. Forex trading is the money field but you will need to understand the micro-level where individuals, be it traders or restaurant waiters manage their wealth. The video channel from the best-selling author “Rich Dad, Poor Dad” is a great window to jump into the real world that requires lessons not taught by your parents or teachers. The video is also on YouTube and it is fresh, from 2020, titled “8 Most Popular Lessons from Robert Kiyosaki in 2020! – The Rich Dad Channel”. These are just highlights of the basic but important views you need to know as a beginner entrepreneur – forex trader. We are certain that it will inspire you to learn more as the channel holds more secrets for a takeaway than any book you may have read in school.
Stansberry Research
Time to get serious, with this channel we are diving into what is going on with specific markets. From precious metals, commodities, stocks, real estate, banks, and more, the Stansberry Research channel hosts major smart investors of the world that have a very professional opinion you need to hear out. It is not directly tied to forex, but it is to many forms of capital, including money. Forex is actually currencies we all have but money is just a parking lot for investors, and they do not stay put for long in this form. The flow of capital and money that essentially affects the value of a currency is easy to follow with this channel. But as a beginner forex trader looking to become a pro, we recommend one video from this channel posted long ago under the title “The Most Important Thing Ever Said About Trading” on YouTube. The video is short but explains one of the must-haves every professional trader implements to their trading – cutting losses and letting winners run.
The No Nonsense Forex Channel
VP is the author and a professional forex trader that has something to say about trading that you cannot find easily. Whatsmore, the value of his work shared to the public is now slowly becoming a must for anyone looking to enter the world of forex. We can say it is almost a one-stop for technical trading guides, psychology, and money management that can transform beginner losers into profit machines. Aside from setting you on the right path of trading, despite a specialized methodology, you will learn how to use your trading knowledge not only for forex but for other things as well. One of the most interesting revelations could be that you do not need to have a lot of money to get to the top. The series is going deeply about how to set up your strategy using a structure to the extent it can be regarded as a free forex trading school program. We are going to recommend a video that is covering where to begin since it is not VP’s first video on his channel, it is titled “Trading Forex For Beginners – The No-Nonsense Forex Way” on YouTube.
The Big Banks
This is the video that started the VP’s channel and it comes next on our list since it is another type of revelation that directly relates to forex trading. The contrarian trading theory and VP’s way is augmented in this video. Most people say it is an eye-opener however, it should motivate you to see what this very different trading strategy has to offer. Some might just consider this a conspiracy but it is really hard to ignore the realistic points presented in this video. Whatever you choose to believe, the information you receive will change the way you look at forex. Be warned though, if you want to follow VP’s way expect a lot of work that has to be done on your side even with all the guidelines. The title of this video is “Best FX Trading Strategies (THE Top Strategy for Forex Trading)” by the No Nonsense forex channel.
Understanding the Forex Industry
If you are a trader then you will have to have a broker to have access to the market. It is essential to understand how they work right? Our next video has an interesting topic, it does not explain the basics about brokerage, but something about the industry no one talks about openly. The video is made by a broker, so one might question the validity, however, it does not take long to realize it is not really a marketing video. It is an interesting criticism of the current industry state featuring one of the biggest brokers in the industry. Be prepared to know one more thing that no one is focusing on and to demask anything a bad broker could try to gain your trust. This video will give you good motivation to start searching for a good brokerage. It is also found on Youtube under the title “A-Book vs B-Book ! How Forex Brokers Make Money” by Global Prime and it has two episodes.
Becoming a Pro Alternative
If you cannot really digest what VP videos teach, try this alternative channel. Inner Circle Trader is somewhat different from VP but it still focuses on the most important things. His videos are not that easy to consume and they are longer. However, ICT is a different type of trader, a scalper strategy that you could also develop in case the VP’s course does not prove to be good for you. If you decide to listen to both you would still need to understand the basics of trading such as how to open trades, general strategies, terminology, and so on. The opener series for the ICT traders on YouTube goes by the title of “ICT W.E.N.T. Series”. 99% of what you learn here will be the groundwork that will stay for life if you continue the journey, or turn you away for good.