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On Youtube there are literally thousands of Forex videos, short ones, long ones, good ones, bad, ones, the list really is endless.
Are Forex Youtube Videos Any Good?
From the thousands of videos on Youtube, surely some must be of use, but which ones? First we need to establish what types there are, first of all you’ve got commercial videos, they have been put there purely for advertising purposes, just an introduction to what the company sells, a little teaser that is hoping to spark an interest in their products. Then you have videos put on for the purpose of advertising, but with examples of the types of trades they take, and what strategy they employ for trading forex. You then have some videos that are from genuine traders that have no interest in taking any money off you, but needless to say these are few and far between. Obviously the plainly straight adverts are no good, you won’t learn anything unless you fancy parting with some of your hard earned money on what is often an excessively priced product that will deliver far below your expectations. The ones which are a more subtle advert but actually give you some information can be quite informative, and could well be worth watching. And then the ones that have been produced by home traders, these can be anything, just someone wanting their 15 minutes of Youtube fame to a really professional trader that genuinely wants others to succeed in trading forex too, but these can still range from the totally useless to well presented informative clips.
Group Your Forex Videos.
To narrow down which videos might be useful to you, try and group these videos in your head, are they about indicators or price action, money management or psychology for example, it will help you not to visit the same kind of videos time after time. Identify which users post the most informative videos and keep them in your favourites, put the best ones in your favourites for reference, it’s easy when learning forex to think, yes I’ve watched that, I understand that and then forget about it. But if you have them accessible it will serve you as a reminder to use a particular tool, after all you’ve spent some time finding the video and evaluated it, if it’s any good then bookmark it, although you may have understood it, over time you will forget some of the finer details, and there will be things you will have missed that you only pick up by watching it a second time. Be savvy, although all these wonderful forex videos might be free on Youtube, you are still spending your time watching them which is limited, but there are some gems out there well worth looking out for.