If you're a beginner and looking for a good forex trading course then beware because there are a lot of bad apples out there. In this article, let me show you what to look for in a good program and how to avoid the scams.
The Basics
Any good course should take you through the basics. What the forex is, who are the participants etc. This is not crucial because you may already have some idea.
Analysis
This is absolutely key. If you want to profit by trading forex then you need to know how to analyse the market and predict which way prices will move.
Any course that does not include any emphasis on analysis is useless. You might as well stay at home and roll a dice to determine how you will trade!
Strategies
A decent course will show you some of the basic strategies. Although every trader is different, there are many shared opinions on standardized methods and approaches to the market.
Discipline
Discipline is absolutely key in forex. If you let your emotions get the better of you then you will lose money. Any good trading course must have a section on discipline.
You can learn all the analysis in the world but if you have no discipline for using it then you cannot profit from it.
Automation
Most good trading courses will touch on the automation side of trading. Many forex traders perform basic analysis but very few of them rely on this alone to make money. It is common to rely on the opinion and analysis of others to free up your time and concentrate on other things.
Sure, you could dedicate every waking hour of yours to learning about forex but it would still take too long. Every good trader needs to trust various sources to make money consistently.
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