Tuesday, January 5, 2010

Top Forex Trading Course

The foreign currency trading market, or forex, is the largest market in the world. Many traders believe that they must have the top forex trading course in order to make money in the market. There is a huge industry that has developed in order to "teach" people how to trade this market.

Just because there is a course available does not mean that this course will teach you how to trade the forex profitably. Unfortunately, people are paying thousands of dollars for seminars, courses, and hundreds signals or trades each month and not learning how to profit in this market.

The agency that is the guardian of the forex market, the CFTC, requires that anyone who produces a product on trading the forex, place a disclaimer that the forex is risky and promises of profits are unsubstantiated.

Over 95% of first-time forex traders lose their account because they are not ready to trade. The good news is that you can open up a free trading account and practice before you invest your money.

It is recommended that the beginning trader start with an inexpensive forex e-book and test out the trading methods from the book in their practice demo account before trying the trading method in a live account.

Another way to test the particular forex method recommended is to backtest it. You can kill two birds with one stone by going here to sign up for a free demo account and get access to a good set of free charts: http://www.cbfx.com/charts/chartsDemo.htm

You can also trade by receiving forex trades by e-mail. Signal companies charge hundreds monthly for these, but there are free forex signals that can make you money. Again, trade these signals in your demo account before you invest your money. Wealth System Solutions has discovered an inexpensive, profitable signal company whose signals can be auto-traded.

Will you make money every month? This is one of the biggest misconceptions about the forex market that people make. Making money in the forex is not linear. A forex course will make money for you almost every month and in the long run, will give you profits. Many new traders jump from system to system because they lose money one month only to find that the next trading system makes them money, but not every month. The exponential power of the forex will make you money like no other investment. The more money you earn, the more money you will make.

When you are ready to begin trading forex in a live account, many brokers will tell you that you can begin in a mini account for only $250. While it is true that you can open a forex account with that amount of money, it really does not give you the leverage to see your trade move up and down and give you profit. I recommend you start trading in a mini account with at least a thousand dollars. If you wish to open a standard account, it is suggested that you begin with at least ten thousand dollars to minimize your risk. In fact, our forex broker recommends that we deposit at least $2,500 in a mini account or $25,000 in a standard account for our auto-trading system.

In summary, look for a forex e-book that is under a hundred dollars. Trade the forex system in your free forex demo account. Backtest it with your free forex charts moving back in time with the charts to see how the trade holds up. Begin with a mini account and watch your forex account grow from there. Don't be discouraged and discard your forex trading system because you have one month where you don't profit. Do rethink your forex system if it does not give you profits over the long run.

A bank offered me 2.9% if I deposited $50,000 with them. See why I am laughing all the way to the bank earning a net monthly average of 8.4% using a simple autotrading system. Brian Sater is a forex consultant and owner of Wealth System Solutions. [http://www.wealthsystemsolutions.com]

Article Source: http://EzineArticles.com/?expert=Brian_Sater

Thursday, December 31, 2009

Forex Trading Course - Forex Trading Training - Knowledge is Vital

Foreign currency (FX) trading is currently the most exciting and liquid financial trading platform today. Many new excited currency traders are getting involved in the forex trade. If you are one of them, you need to ask yourself how prepared are you? Are you equipped with the knowledge to meet the challenge?

Knowledge in forex is important before you even put your first order. One of the best way is to go through a forex trading course or forex trading training.

A forex trading course can enhance your knowledge and gives you the confidence to do the real live trading. Just like everybody else, you will feel the excitement of putting your first order. To really learn the trade, you need to source for a good and reliable forex course or forex training service provider.

Many good forex trading courses or forex trading training provider are available online. A good forex course will provide you with all the basic guides, references, audio and videos that are very useful to the currency trader. The resource material can be downloaded from the course provider's site. Some may even ship to you the forex course material and CDs. You can learn and study them at your free time in the comfort of your home!

These courses or training are sufficiently helpful to give you a good start. The people behind them have many years of experience in the real trading environment. Many of the ideas and tips offered are generally not mentioned in normal text books. The forex tutorial or references coupled with the audio and videos provided make the learning process motivating, fun and interesting. The learning process appears quite realistic. You feel as though the master is just with you as you are guided through the currency trading tutorial.

You should also open an account with a reliable forex broker. You can then try out the demo account that is provided free for you to trade live but not with real money. Again, you can do this at home any time you want. However, you need to be persistent and patient in trying to learn and assimilate the vast amount of currency trading tutorial material. Go through them carefully. Test them out with the demo account before you proceed with the real account.

With this in mind, however, it is wise to select a proper forex trading course or training provider. Some are not so helpful and are difficult to contact. So choose a suitable course provider that maintains good and efficient backup service.

The main advantage of an online forex course or forex training is that you can learn and study it at your own free time and at any place convenient to you. The techniques, explanation and material provided in the forex trading course are more realistic and unconventional than those offered in text books. The supporting multimedia resources such as the actual trading charts provided appeared just as you would see them on the real screen.

Knowledge is vital. With a proper forex trading training, you should feel more confident and not apprehensive when you are doing your live trading. The knowledge that you have gained will give you the advantage of making better decisions and consistent profits in the foreign currency trading.

If you need to know more, you may check out on forex trading courses and training here. Be aware that to acquire knowledge, you need to make some small and reasonable investments to be able to ride through the volatile forex market. Visit this site to secure your advantage.

Article Source: http://EzineArticles.com/?expert=Ivan_Max