Forex Trading Course - Don't Wasting Your Time On Useless Lessons
If you are willing to learn forex trading from novice until expert level where you
can support yourself from trading alone, having a forex trading course is a good idea. Finding forex trading lessons at the internet is really easy, but finding the real one won't be an easy task. After all, wasting time by studying methods that doesn't work or learning lesson that only give you abstract idea without real to-do-list will make you lose motivation quickly.
If you are trying to pick a good forex trading course, use these following criteria:
1. Teach the Basics
It's impossible to begin from advanced level. If your course suddenly talks about Elliot Wave or hedging method, just throw it away. Your course must teach you how to develop your trading abilities from nothing and familiarizes you with numerous components of fundamental forex trading such as charting, indicator, leverage, trading account, online broker, and so on.
In my opinion, learning by doing is the best approach. Find a course that provide a guide to open a practice account in an online forex broker and learn how to use a trading platform. After that, you can learn to use various features of the trading platform such as chart, make an entry, place stop loss order, read news, etc.
2. Possess a Great Trading System
A good forex trading course won't teach you to charge the market without proper analysis. There are numerous types of analysis and tactics in forex trading and every one of them is useful in a particular situation. Execute these strategies and analysis perfectly is the basic of a profitable trading system.
A good trading system contains specific strategies based on certain analysis to make profitable entry and exit decision. This system should have tested against historical market data and current market movement to demonstrate its effectiveness.
3. Teach Risk Management Method
Even with a good trading system, it always possible that the market will move against your prediction. In your lessons, you should be taught about solving this problem by applying various risk management methods. There are many forms of risk management methods, but at the very least it should teach you how to place stop loss and take profit order. Applying these methods will reduce the risks from emotion factor; something that have caused many traders fall.
4. Giving Examples or Proof
A good forex trading course won't only teach empty concepts that isn't applicable inside the actual market. It should show some proof or give video illustrations on how the system being applied and gain profits. Having good testimonials from the actual users can also prove the system credibility.
5. Giving Money back Guarantee
A great course should be confident enough that its system and learning material can assist you to become a much better trader. This confidence can be shown as 100% money back guarantee. If you have learnt it for some time and think that it is useless, just ask for your money back guarantee.
Taking a great forex trading course is the first task to be a successful trader who know exactly the best way to analyze the market and get profits from it. In the future, you can always include various forex software to your trading system and develop it further.
by: Matthew Johnson.
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