Thinking that trading equals to gambling is the most certain way to lose all your money. If you just try to select currency pairs “by luck” and hope for the best you just won’t make it.
The trading education is the first vital step you need to take if you want to achieve success in forex trading. It’s much better to invest time and money into a good forex trading course rather than losing a lot more learning by the error and trial method.
What Is A Good Forex Trading Course?
There are thousands of books, DVD packages, seminars, “home study” programs and e-courses promising you to help in achieving great trading success. As usual in life, only a part of the promises are really delivered.
A good trading course or seminar should meet at least the following requirements:
- Fast learning process. You are not going for University degree here, you need to learn fast and start trading. A good course will get you started in a couple of months
- Interactive Trading. You can’t expect this from a free course, but if you are paying, you should expect interaction between you and the instructors
- Cover The Basics of Technical and Fundamental Analysis. You can’t be a serious trader without having idea what these are.
- Identifying optimal entry and exit points. A good course will teach you how to know when is the best time to open and close positions.
- Outlined program. If you are going to invest your time and/or money into a trading course, you should know its program at the beginning. You have no resources to spend for surprizes.
- Money back guarantee. If the course is paid and the sellers are so sure it’s worth the money, they’ll be ready to offer money back guarantee.
The good course featuers are not limited to the above points. Many good courses will offer you personal coaching, sample trades and deeper technical analysis education.
Free Or Paid?
Usually people say that you get what you pay for. But to conclude that the free forex trading courses are worthless is a big mistake. There are a lot of quality free courses, especially for beginner traders.
The writers of those free course of course need to get some return of their work. To do this they often advertise a particular trading platform within the tutorial or course. While there is nothing wrong with that, you should be able to identify which course is created with the sole point to promote a trading service and which really contains value.
One important mark of a good free course is the lack of replication of common and widely known information. If the course has some unique angle and personal style, chances are it is good. If the course concentrates on how one single company trades or how a single trading platform works, it’s probably created only to advertise.
The paid courses usually provide better value, but of course there are pretty many crooks who just want to get your money. In addition to using the checklist from this article, you need to search the Web for reviews and opinion for the course you plan to enroll in.
Practice Is Important
The mistake which a lot of novice traders to is to read and study without applying the knowledge into practice. Then at the end they try to remember everything and start trading.
Practice while you study!
Open a demo account with a Forex trading company and start applying everything you learn in the course. This is not only the best way to see what works and what not, but also to memorize the most important things that you learn in the course.
Don’t stay at demo stage. If you always trade in demo, you’ll never really learn. You will have to invest some minimal amount and try trading for real. Doing it is much different than playing with virtual money. The emotions are important part of the game!
Check our reviews for some forex trading courses. No matter if you enroll some of them or another one based on your choice, let us know about your progress.