Ya'll know that I am ALWAYS talking about the necessity of a good Forex education. As a Forex educator, I realize that most people fail in the market because they have not received a good education. The simple truth is, if you want to be profitable, you NEED to know what you are doing.
Today, I am simply emphasizing the need and benefit of a good education. After reading this, I hope you see the need and make a decision to let us train you – FREE OF CHARGE! As always, we wish you happy trading!
A good trading education is essential for anyone seeking to become a successful trader or an active investor. Whether you are a beginner, a new trader or a trader with some experience, choosing the right trading education is an important step on your path to success.
The only traders that will survive in the market are the ones that have invested well in their education. Many traders are simply penny wise and dollar foolish. They decide not to spend on education to save their money, while in the meantime continue to trade and lose far more than they would have ever spent on education.
Unfortunately, there are many charlatans in the trading education business. There are an unbelievable number of so-called trading experts and gurus that have no educational background whatever selling selling educational programs. They demand large sums of money for their programs and yet they never deliver a solid market education. Many of them simply do not understand the most fundamental elements required in an educational program. To educate someone you must build a solid foundation of knowledge before you place a structure on it. You can not teach someone to run before they learn to walk.
The same holds true for trading. Just because someone may have been a successful broker or even a floor trader for 20 or 30 years, it does not mean that they are able to teach others the art and science of trading. That is what many traders found after spending thousands of their hard-earned dollars on a fancy educational program. After such a disappointing experience, traders typically become discouraged, and they abandon seeking an education or they completely abandon trading all together.
This certainly does not have to be the case. Trading is not that difficult to learn if you have a good teacher and you are willing to spend the time and effort required for learning. Even though they are hard to find, there are still some good educators out there and here are a few points to help guide you in your educational quest:
Keep in mind that successful trading is not about just one thing. It is not about a specific technique, a magic indicator, incredible software or some individual's secret method of trading. Successful trading is really about gaining a basic understanding of the market and how it works. This is the best-kept secret about trading. Once you gain an understanding of how the markets work, you can begin to learn how to trade it profitably. When seeking an education make sure that your teacher understands how the markets work and is able to clearly communicate and teach you their understanding of the market.
Try before you buy! Never sign up for any educational program until you have had a chance to review and evaluate the content. A free week or two of trials in a trading room is a fun experience but it is not an educational experience. You need to be aware that trading rooms generate their revenue through continued subscriptions, if they teach you how to trade you will no longer need to subscribe.
It is important for every trader to understand that there really is no valid correlation between the cost of a trading education and the quality of the education that is received. Typically, companies or individuals that have a high profile and extensive marketing costs will have to offer expensive trading educational programs to pay for their overheads and marketing costs, these educational programs may not need to be the best educational value in the market.
In selecting your educational program, focus on identifying the teacher. You must identify the actual person that will inherit the knowledge to you. Teaching is a blend of skill and talent, not all teachers are created equal. There are many accomplished traders that are extremely boring speakers and can never really offer any educational value to their students. Listen to the instructor before you enroll in a program and determine whether or not you like their teaching style. A good teacher is worth their weight in gold, because they will actually help you to learn how to make money in the market. When you find a good teacher, stick with them and learn as much as you can from them.
Make sure your education includes an opportunity to receive coaching from the teacher. Coaching follow up is extremely critical especially for beginners and new traders. Coaching must be included as an integral part of your learning experience. You will find that every profitable trader at some point in their career has had a coach or a mentor to help them succeed.
A trading education is a journey, the more you learn the more you realize how much more there is to learn. A proper trading education takes time and should not be rushed or done under any type of pressure. If you place any pressures on yourself to learn quickly, it will produce the opposite effect.
There are many important concepts and skills that must be learned and practiced before you ever risk a penny of your hard earned capital in the markets. Do not rush into trading without the proper education. Trading losses can mount very quickly and losses result in emotional resignations that can often derail your educational efforts.
A sound trading education must include a basic understanding of price action, markets cycles and trends, technical analysis, trading strategies and how they are developed, an understanding of your own individual personality and your emotional relationships with money. Most importantly, you must learn to develop a trading action plan, which will include your trading strategy. Your trading strategy and plan will be a valuable tool in helping you to evaluate and measure your trading progress. More significantly, "Your trading strategy will determine your success or failure in the market ..", quoted from Dr. Keppler, a prominent educator in the field of trading education.
Stay focused with your education and do not try to learn too much too soon. Enjoy the learning process and invest your energy in learning, ask as many questions as you can, practice as much as you can. Do not ever underestimate the value of a good trading education. Once you learn to make money as a trader you will want to invest more and more in your education. You will quickly realize that it's an investment that pays incredible dividends.
Each market offers new and diverse opportunities for making money. Do not ever place a limit on your desire and ambition to learn. Always take the time to learn new ways to refine your trading tactics, analytical tools and strategies. This will help you to continuously improve your trading performance, increase your profitability and enhance your strategic thinking skills.
You can be VERY successful at Forex, after you receive your education. Choose to learn Forex and your life will never be the same. Happy trading …