A good Forex course for a beginner Forex trader
A good forex training course for a beginner forex trader should have 3 important elements. It should include a scientifically proven and proven business strategy, effective money or risk management and the development of the right business mind.
The Forex market is a very unstable market. For new or beginner currency traders who have not participated in any exchange rate, fx courses or technical analysis classes before, it is very easy to lose a lot of money in the online forex market!
Many forex courses are conducted, but you have to be careful about the courses that only teach some forex strategies or that give some forex signals or indicators to students, but in reality they do not equip these beginners with the knowledge necessary basics. to exchange operations. The situation is worse if forex strategies are provided by unauthorized forex brokers.
A good forex course should cover the following:
1. A scientifically proven and proven forex trading strategy. These FX strategies must have more than 60% to 70% chance of winning in all different market conditions. In addition, these commercial methods should have been retested for a long period of at least 5-10 years of scientific evidence. Not many self-taught currency traders can afford to try out their exchange strategies with this approach due to the lack of facilities, experience and resources.
2. An effective money or risk management system. The Warren Buffet investment rule number one is "Don't waste your money!" It is very important to maintain your capital. A good currency strategy consists of good money management. Do not risk more than 5% of your capital during any operation. If a become a funded account trader has a Forex strategy with 60-70% chance of winning between 100 trades in the online forex market, FX traders will earn more and lose less if the same amount is exchanged all the time. .
3. Develop the right business mentality. For adults, learning through memorization strategies is very difficult because adults learn through participation. In a good forex course, it would help to develop the correct operator mentality by having many activities during the training course to strengthen the principles of trading.
Do not use the slow tracking method to learn, even if it is cheap, such as listening to CDs, reading books or attending foreign exchange forums. It can cost you an arm and a leg if you try to act and learn through trial and error. The fast track to success is to learn from a successful forex trader who has the passion to help beginner traders make a living and never work again.