Hello my dear traders! Today we will talk about Forex trading education and training. This is a very important topic and the post will be hard, but you will learn whether it makes sense to attend a Forex trading course or not? So let’s get started.
Currently, there are a lot of opportunities to learn how to trade Forex! There are lots of Forex brokers who are training their customers and at the same time use these Forex classes to attract new users. There are special Forex schools which you can attend and Forex online training via the Internet (where you can study from home without even going out!) And also there are a lot of Forex courses!
Of course, none of these so-called “schools” or “universities of Foreign exchange” will not give you an official diploma or certificate. Even if you get a some kind of document for finishing a Forex trading course, that would be after all a meaningless and helpless piece of paper.
Yes, this is the reality. Forex training has become a very profitable business where consumers are willing to pay for! But the worst thing is that in most cases Forex trading courses and classes don’t give any results and advantages in Forex trading. Let’s see why.
5 reasons why Forex trading course are not effective:
1. The biggest reason is the desire of a person! If someone wants to become a trader and (read how to do it), he will become. If someone wants to learn how to start trading Forex successfully, he will learn! Education is good, but not important. The main thing here is the person himself, his desire to learn and the time that he or she is willing to spend on it!
Where is a will, there is a way. If you strongly desire to become a good Forex trader, you will achieve your results. Either by hook or by crook, a strongly motivated person will make every effort to reach his or her goals! So who are those people who join Forex training classes and courses? Are they all highly motivated for success?
Unfortunately they are not. I talked to many people who go through different Forex trainings. Some of them say they don’t believe in Forex and gave up, someone said that he had been deceived and the actual course was not what he had paid for. Others blame someone else and find other excuses for their failures. All this is nonsense!!!
You need to look for real reasons in yourself. Everything depends on you and your motivation: weather you will become a successful Forex trader or you will look for excuses of your failure. Most of my friends who tried Forex did not give it a second chance, no one of them has been trading more than half a year. This is not enough! If you want to learn how to trade Forex, you need to practice your trading until you learn! Do not look for excuses, just keep on trading!
2. Most of people know that only 5% of Forex traders are profitable on a regular basis and the rest is losing their money. If we consider that most of those profitable traders are working in investment companies and organization, the percentage of private traders who are profitable is even smaller.
This statistics exist from the very beginning of Forex trading. Forex Trading courses exist for the last two decades. If they were effective, and thousands of traders learned to earn monthly income in the Forex market, then the statistics would change. But it is not. The statistics of profitable VS loosing traders stays the same since the Forex trading was invented.
The fact is that Forex trading courses and schools do not make ordinary people profitable traders. Visit a website of any Forex training company, look out there and find a list of traders who have been trained and their trading results. Did you find anything like that? You didn’t find it! Maybe there are a couple of examples, but it is nothing compared to thousands of people who have been trained!
3. What can a Forex trading course give you? Knowledge. No one will argue with that. But is it enough to start trading Forex successfully? Unfortunately it is not! This is another reason!
In Forex trading psychology and the right attitude to what you are doing has a very important place. Many successful traders say that psychology is the only important thing you need to learn in order to start trading successfully. You can find a lot of such statements in the interviews and books of famous investors and traders.
So can a teaching class or a Forex course help you develop right attitude to the Forex market or teach you to control your emotions? The answer is No! You should do it yourself. How can a 3-month course develop your trader’s mindset that usually takes years of self training?
4. I have already mentioned my Forex friends and I will mention them again. None of them, who attended Forex classes or courses, continue their study. Do you think that you will sign up for a Forex course and become a perfect trader? It won’t happen!
You need to keep on learning and practicing. The majority don’t want to continue learning and develop their trading skills over time. If you have such thoughts, cut them off. Trading is a serious profession that you need to learn over the years. After you finish your Forex trading classes you need to keep on learning and developing your trading skills and experience.
Moreover, every successful and profitable trader constantly learns something! Progress is always on a move, knowledge becomes obsolete, conditions change and you need to keep up with the times and be updated with the relevant information. So, unless you have a couple of billions of dollars at your disposal, you need to learn to find the most profitable opportunities in the market and earn on them.
5. Perhaps the most banal fact about those expensive Forex trading courses is that they will not teach you anything new. You will not learn any secret trading system and no one will tell you a super profitable strategy. The most chances are that you will hear what is freely available on the internet and what you can find in books.
Are you willing to pay for a teacher to read a book and analyzing it in a group of fellow traders? That’s your decision. I cannot say about all training programs and Forex courses, but those that I am familiar with, don’t provide any special and exclusive knowledge about Forex trading.
I suggest you to think about these reasons why Forex trading course are ineffective and make your conclusion.
It would not be fair, even foolish to study in the university for 5 years and then work for a couple of years more to become a qualified engineer, and study only for 3 months to learn how to become a successful Forex trader! It is ridiculous! 🙂
If you really do not know anything about Forex trading, then joining a Forex course can help in learning the basic knowledge about Forex trading. My free Forex e-course may help you with that.
But this is just the beginning, and no one will go all the way for you. Every experienced trader was a beginner, when he or she knew nothing about online trading. It means that achieving your goals is possible and you can make it happen.
Ideally, in my opinion, is to have a personal training with an experienced trader who is trading for at least 5-7 years. Only if he or she is ready to reveal all the details of trading psychology and his or her trading strategies that were developed for years. There is only one problem – why should a successful trader do it for you? If this is your best friend – you are lucky enough! And for the rest of beginner traders – count on yourself and you will succeed! 🙂
If you want to catch up with the basics of Forex trading and have a great start to this exciting world, follow the link below to join my Free Forex e-course: