New to FX Fisherman as well as FX in general...
I traded in my PM hat years ago for a Forex hat. I've never regretted it.
Welcome to the club!
Tim
Of course there are successful traders. A new trader will take years to reach there. To avoid taking the wrong path or taking the long way is to take up a good trading course.
There are a few pointers in selecting a good trading course:
1. Do Not Buy the Basics
The first thing you have to remember is not to buy a course that will teach only the basics of Forex. You can easily get such information for free. Even your broker can provide free basic trading courses and tutorials.
You will only waste your money on courses that teach you how to trade, how to read charts, and other information that you can get for free. Most probably, these courses are just written by authors who compiled different Forex information and sold them as a Forex course.
2. Focus on Strategies and Advanced Techniques
What you should be looking for is a Forex trading course that will teach you the step by step process of building a proven trading system. However, you need to ensure that the strategy being discussed by the course has been proven in actual market conditions.
3. Choose a Course that Offers Hands-On Services
Majority of courses are packaged into ebook modules which you can read and study. Although these types of courses may provide valuable input to sharpen your Forex knowledge, it would be best if the course provider can include hands-on training.
4. Ensure that the Testimonials are Real
Testimonials can be faked and posted on the website.
5. Cost of the Trading Program is part of your Trading Cost
Many of the trading seminars cost more than $3000. Students who attended the course need to achieve a profit of $3000 before they can reach breakeven point.
As a person who wants to know about the market must see these points for sure as it is going to help in a long run. How to can select your broker?
Spread: The most important factor to select any broker is the spread. The smaller the spread on currency pairs would be the favorable conditions for traders and investors.
Effecting platform: This means how quickly and consistently the trades are executed.
Does it have the facility of fractional trading: Some brokers allow investors to trade on a fractional basis? This facility is very helpful when you are making trades that risk a certain percentage of the balance on each trade.
Fund safety: It is the most important factor that the funds placed in a account are insured for safety.
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Hey folks,
My name is Steve and I'm fairly new to Forex trading...I have been interested in it since 2005. It started when I was working as a Project Mgr. in San Francisco, CA. An employee of mine put his 2 weeks notice in to me prior to his departure. I assumed that he had found a better position somewhere else, and well in essence he had. He later explained to me that his income trading FOREX was beginning to rival his yearly salary($85K+) and that he desperately needed to transition into full-time trading...Since then, my appetite has been wet to start trading, but my projects were always too demanding. Well they still are, but I am willing to sacrifice the time to learn this business and hope build up a dependable strategy and to work independently full-time. I know it will not be easy, but what has ever been that was worth having??
Anywho, I look forward to learning everything I can from the members here and hopefully one day I'll be competent enough to offer some advice ...