Forex Investigator’s Message To All The Participants Attending The Learn To Trade Forex Seminar In Nairobi ~ forex trading demo review
Forex traders in Nairobi should get ready for another seminar that is taking place on Monday 30th November 2015 at the Oshwal Centre in Parklands from 6.30 pm. The seminar is being organized by London based Learn to Trade group under the stewardship of one Greg Secker.
This is not the first trading seminar to have been held in Nairobi. Over the years I have witnessed over 5 brokers hold seminars in this city before crawling back to their corporate caves and losing touch with whoever they were in town to win over. But this is the first time I have seen an entity that doubles up as forex instructor and introducing broker coming to Nairobi.
Forex seminars in Africa are peculiar for one reason that differentiates them from seminars held in either Europe or Asia- the seminars here are not tied to goodies or freebies. In Europe, to push up the often poor attendances brokers or organizers often promise things like fully funded accounts for the first 100 to register for the seminar or free training for the first 10 attendees. Here it is often a foregone conclusion that the room will be full to the roof even if the organizer lacks a local contact person.
Let us face it. We all know that no one has your interest at heart. Greg Secker’s team is not putting foot to Nairobi because they love you so much or because they have a dream of turning you into an instant millionaire. They are in Nairobi first and foremost for the interest of their IB business. They are here to sell you a trading course. Most attendees who have never had of forex will probably abandon their legitimate and great dreams the night after this event and decide that currency trading is all they want to do. This can be explained by the simple reason that all trading seminars are tailored at making you believe that trading is easy or that if it is a little bit complicated, then there is a magic wand held by the organizer that the trader can use to join the league of the pros.
That Learn to Trade group is coming to Kenya can also be explained by a number of jurisdictional regulatory factors that are currently impacting the American and European markets. With the American and UK laws increasingly becoming unfriendly to IB’s based on those parts of the world, it is financial prudence that their wings should be spread to virgin forex trading lands. There are bizarre laws in America imposed on IB’s that deal with a trader without first considering the anti money laundering rules. That is not the case with most of Africa. Hence, these people are not coming here because they just love you so much but because they have a business which if only concentrated back home could one day close down due to the hefty fines caused by occasional blunders on their side. They are therefore here to hedge.
My advise to the brokers and IB’s targeting this region is that traders in this part of the world are dreaming big but at the same time desire to start it small. Don’t hold a seminar here with the hope that you will get a dozen newbies willing to invest 1000 dollars as a start up simply because they had you speak about candlesticks.
You are also now competing with signal providers who are charging a small monthly fee of about 10 dollars per trader who then benefit from trade ideas circulated through forums such as whatsapp groups or facebookgroups. Brokers coming to this region should therefore probably target these signal providers as opposed to rushing to the new traders through seminars. The signal providers could be a bridge between the broker and the new traders.
Learn to Trade has already been to Nigeria and a Lagos friend that attended the seminar has pointed out to me that the Nairobi traders should not expect anything out of the ordinary from their meet the pros gig. This seminar will probably have 99% great stuff. But at the end of the day no man can teach you market instinct. Market instinct comes from mastery of yourself and constant chart time. The strategies you use work or fail depending on how well you have mastered yourself. A while ago when I read Michael Lewis in the book The Big Short I came across a phrase by one of the most compelling characters in that book by the names of Mike Burry. It said- No school can teach investment. If that were true it would be the most popular school in the world with an impossibly high tuition. So it must not be true.
Greg Secker’s seminar is titled FREEDOM, FLEXIBILITY AND FUTURE SECURITY WITH FOREX, it is my hope that this is what the attendees will have gained at the end of the seminar.
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