Hi Guys I WANTED TO ASK QUESTION, I’M CURRENTLY LEARNING TO TRADE. I DON’T UNDERSTAND MUCH OF PDF OR BOOK BUT VIDEOS I DO SO I WANTED TO ASK IS IT NECESSARY TO READ PDF/BOOKS TO LEARN CERTAIN METHOD OR VIDEOS IS GOOD ENOUGH?
The valid distinction, that means something and has good reasons behind it, isn’t the one between videos, PDF’s and books.
It’s the one between learning from online and offline sources.
The point to understand is that online “information” has no quality control in its publication, whereas well-established and respected textbooks published by well-established and respected publishers have had loads of quality control in their production.
Of course there are some exceptions (on both sides) but as a beginner, you can’t possibly have the experience or judgment you’d need, to identify them.
So you need to get the odds in your favour by sticking to well-established textbooks, instead of getting the odds even more against you by depending on online “information” (whether it’s PDFs, videos, websites or even forums.)
By the way, “supply” and “demand” aren’t really valid concepts, with regard to retail forex trading. Effectively, there’s infinite “supply” of all currencies for your purposes, and when you deal with a counterparty forex broker no actual currencies are changing hands anyway.
In a way, this helps to validate the point I’m making above: at the moment you’re thinking of it in terms of "supply"and “demand” and interpreting the information you see within that misguided frame of reference, because at the moment the sources of your “information” are online and you’re not reading textbooks.
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No, most videos definitely aren’t good enough.
Charlie (above) is “plain-speaking” but completely right.
The point is about the overall quality of what you study, and whether it’s truly “information” or “misinformation”.
It’s a really important point, because a lot of the online stuff LOOKS very professional and presentable but an experienced trader will be able to judge that some of it is actually nonsense. And with no disrespect, you won’t.
PDFs might be ok if they’re PDF versions of established textbooks, but most aren’t, and most (not all) of the PDF copies available online are published in breach of copyright anyway.
Most Youtube stuff on forex trading, for example, is typical of the stuff that beginners tend to look at, and that’s part of the reason why 95%+ fail. You need to do something different from, and better than, what “most beginners” do, to have any realistic chance of your journey being worth the time and effort.
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I didn’t find the videos on YouTube it came along with the course i have got, PDF has the rules etc 202 pages with videos which like i said i grasp well.
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What’s the course? Who’s it created by? (Does it talk about trading spot forex in terms of “supply and demand”?!)
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Hi @LaughingCharlie,
The fact that “no actual currencies are changing hands” is not due to the fact that your counterparty is a retail forex broker.
Consider how hedge funds will trade on institutional ECN platforms such as the GTX marketplace offered by FOREX.com’s parent company, GAIN Capital. The participants here still do not physically exchange currencies, even though the counterparties are major financial institutions.
Even in FX futures markets, where physical delivery is possible 4 times a year, the overwhelming majority of FX contracts are closed prior to physical delivery. That’s because most forex traders want to speculate on exchange rates or hedge their exchange rate exposure, not handle physical currency which only adds costs.*
Therefore, the fact that no actual currency changes hands is another benefit of trading through a retail forex broker, as it lets you speculate on exchange rates with lower trading costs than physical delivery would require. We discussed the other benefits of having a retail forex broker as your counterparty in this post: Which is the best stock broker to scalping
*If physical delivery is what you are after either for business or travel expenses, FOREX.com Money Transfers offers this service at competitive rates.
I didn’t say it was.
Nevertheless, it remains factual that when you deal with a counterparty forex broker, no actual currencies are changing hands.
You might do better spamming some other forum than trying to nitpick with members here, because you’re probably irritating just as many people as you’re “educating”. 
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Glad we cleared that up! 
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