Written by admin
Thursday, December 9th, 2010
What Constitutes a Real Forex Education?
With so many websites and so-called “gurus” offering FOREX training, webinars, and various Forex educational offerings, it’s easy to get confused and mislead, and that can cost you dearly in the long run. So what is the best way to learn currency trading? Well before you learn the right way, let’s look at the options available to you:
- Trial and Error
- Surfing Web, forums, books
- Black Boxes, Bots, Software
- Proprietary Strategies
- Non-Proprietary educational courses
- Mentoring on non-proprietary, proven trading strategies
At some point or another, you will take advantage of most of these learning “methods”, but they are listed in order from least effective to most effective. The disadvantages of trial and error is obvious, but some are not so obvious.
Getting your information off forums and other websites is a challenge primarily because you have no idea of the true qualifications of the person presenting the material. He who shouts loudest, usually wins, in public forums, but the traders who have extra time to dedicate to forum postings are usually NOT making any money at FOREX. Books and other sources can be helpful, as you’ll see below, but the disadvantage is that they are usually to narrow in focus and thus are incomplete sources of information.
Forex trading Robots, or “bots’ are also not an effective way to learn trading., In fact, they are the complete opposite – they are an abdication of your responsibility to learn how to be a good trader, as they remove nearly all decision making responsibilities, and create a dependency on a product that rarely works for more than a week or two.
Why Proprietary Strategies Don’t Serve You
- Narrow scope of education
- Dependent upon provider
- Questionable motives – ‘forced continuity’ a common hidden objective
- Easy to ‘cherry pick’ historical data to make them look more effective than they really are
Now let’s talk about the difference between Forex education and Forex training. Collectively, we have dozens of years in the Forex industry as successful Forex traders, Forex trainers, and Forex educators, and we know what it takes to succeed. And we know that training and education are NOT the same thing, yet both are necessary to become a savvy successful Forex trader.
The basic difference is that training is usually presented to help you learn a specific task, whereas education is much more broad, and teaches you the fundamentals of a subject so that you understand the ‘big picture’. Both are usually necessary, but without a solid Forex education, any training on specific strategies will always fall short.
Unfortunately, the Forex education and training field has been flooded by so-called ‘exerts’ who are not qualified to teach traders how to be successful. In fact, most training offerings were created by Forex marketers with profits in mind, not education or skill development. Worse yet, these marketers are usually failed traders who could NOT demonstrate a consistent, long-term track record of success. They have no place teaching Forex because they haven’t mastered it, nor do they have an understanding of adult education, so they fail on two counts.
In addition, they usually teach proprietary strategies that are designed to create a dependence on the teacher or product. Your goal should be to become an independent trader who can stand on your own two feet as a successful Forex expert, and the ONLY way to do that is to get a solid education from a curriculum put together as a collaborative effort between successful traders and professional educators!
Characteristics of a True Forex Education
- Enables a deep understanding of how the Forex works
- Contains strategies that have proven themselves to always work over the long term
- Enables you to adapt to changing market conditions
- Makes you independent of any expert or proprietary strategy
- It’s the most cost effective of all approaches
With that said, an education is a serious investment, and it never hurts to start with an “introductory class”, so we have put together the best training course for new traders, free of charge for a limited time, which will provide you a basic FOREX understanding so you have a firm foundation from which to operate and grow your trading account.
This Forex training course, called “Forex 101” is one of the most comprehensive trading courses on the market today, with over 120 pages with clear illustrations, and you’ll be introduced to some of the most critical elements and concepts of Forex Trading.
What you’ll quickly discover is this is NOT ONLY a “course”, but a handy reference guide for your daily Forex trading experiences, that you can refer back to, over and over again.
While this ebook alone will not make you an expert trader instantly, it will save you months of learning, help you avoid stress, and make you feel confident as a beginning trader. And if you have been around the Forex black a few times, this will help plug any gaps in your knowledge and remind you of the fundamentals of trading.
The bottom line is that this is your single best resource to come up to speed quickly so you understand all of the basic Forex market terminology, concepts, and dynamics. You can access this training course buy filling out the form on this page.
