Can forex trading be taught ~ trader forex compte demo
This article will not be received well within some quarters. For every forex beginner that reads this, an online forex tutor loses a market. Of course I don’t expect the article to spark the rise of some kind of white handkerchief movement for the recognition of the efforts of the forex tutors. But I do expect some unpleasant emails. Let me begin by noting that it is possible to learn without going to school. Ever heard of being home schooled? You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
Forex can be taught, but only by a gifted few. So far I know only of four real forex tutors. One is Australian, the other three are American. I speak not as a graduate of any of their schools, but as one who has watched their constant analysis of the markets and seen the results of believing in their brand of the forex gospel. New forex traders fall hook, line and sinker for any individual claiming to be knowledgeable about how the forex market operates. If you are not scammed, you will probably get a raw deal. Just because an individual trades successfully does not translate to him being a great tutor. Take for instance your teachers all through your schooling life. Were you never beholden to their knowledge of the subject they taught or lectured? Yet why did your English teacher never publish a great novel, or why did your science lecturer never enroll into a flying school? Most people that score first class grades are not necessarily great teachers. That is why they end up in professions that do not require imparting back knowledge. The point I am tring to put across is that not all successful forex traders can be good forex tutors.
Forex can be taught, but there is no school of accreditation to ensure that you are under the best tutor. There is no syllabus. Only America has a University offering an undergraduate course in forex trading. There are no weekly assessments or end of course exams to test the student on the knowledge acquired. That means that the trading knowledge you acquire as a forex student depends on the whims of your tutor. He will not teach you everything he knows and you will not be in a position to figure out what he has left out because of the lack of source of reference.
Forex can be taught, but it is much wiser to figure it out on your own. Trust me when I say that it is a lot easier and fun figuring it out on your own. A lot of forex tutors divide their courses into beginning level, middle level and advanced level. Most beginners pay more for the advanced level for the only reason that it sounds a little complicated. A lot of that stuff that your tutor calls advanced is actually freely downloadable from a site he will never let you know but one which is always closer to your search engine results. But what even surprises me is when a forex beginner chooses to pay for the beginner level. Type the phrase ‘forex 101’ to any search engine and in a few minutes you will have dozens of materials that are all you need for the so called beginner level. Just analyze the charts on daily basis and in months you will have developed your trading strategy. That is, something that lets you know why to enter a trade, when to enter a trade and why to exit a trade. Back test the strategy and you will be surprised to discover that on average it works well at 70%. You do not need a percentage greater than that to be a profitable trader.
Forex can be taught, but the discipline of trading can never be taught. The forex tutor will rarely stress on the need to keep your emotions on check or on the dictates of money management. Without those two you are headed for a nasty period as a forex trader. Money management in itself is not what many forex beginners want to learn. Most are interested in knowing what the different candlesticks mean and how to execute a trader on the Meta trader 4. That lack of interest, coupled by the fact that the discipline of trading is not something that can be taught even by the most qualified forex tutor, implies that no forex student ever reincarnates into a good trader soon after taking the course. Only you can learn how to control emotions that come about as a result of live trading because you understand the source of your investment and your risk tolerance level. They will teach you the candlesticks but they will never instill the discipline of trading in you.
Forex can be taught, but it instills a sense of false self confidence. Completing a forex course does not mean you will make money on your first trade. Yet is it not true that most forex beginners expect just that? The forex tutorials only serve to nurture false hope and magnify expectations into the realm of the impossible. You paid for a 500 dollar course but you are yet to make even 10 dollars on a single trade? I am not surprised. And you have probably lost more capital because the course you took encouraged you to put more money into your trading account certain that you would double it in a week. Now you must learn that the course you took was only preparatory to the real world of live trading.
Dear aspiring traders, no one has your interest at heart. Your forex tutor is just another businessman. If you are lucky you will pick a thing or two from his tutorials. But you could have gained much more had you chattered the path that most successful forex traders have taken for decades- self tutorials. Ignorance is defeated only through knowledge. The internet age has ensured that no matter where we are, we can always challenge and improve ourselves with the freely available material on the thousands of sites.You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
Call us today on 0725 050 419 for the best forex trading orientation.Related Articles
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The four questions I ask myself before entering a trade
The markets will be here tomorrow- be patient
Do not ignore the economic calender
Every trade is a loss waiting to happen
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