Hello!Please help!

I am new to Forex and I am just about to go on a course called “learn to trade” in London. As a matter of urgency… (the course starts next week Tue), could anyone give me a bit/loads :)) of feedback about this course? It costs £2396 incl VAT, it’s for 2 days +… they give you one day bonus, to trade for real with your funds deposited at the bank they say, for beginning of the course (funds have to be in at beginning of the course). Is it really as they say… practice with one to one trader, 3rd day practice with your own money … (the more the better), from £2000 will allow you access to 50% of the range of trading signals, £5000 … 100% of signals, and with £10000 funded account or more, will allow me to access to 100% of the range of trading signals and gives me a chance to scale in on certain opportunities. They thoroughly recommend this bank to open account with, actually is the only one they work with (is this the norm?), called “Capital Index”. I also have to subscribe for the Smart Charts Software for $89/month. What do you think … please! Thank you very-very much!

Hi, i am in the same situation as you !! i need to go for a course in forex trading which will cost me £1000 and i am really affraid of wasting my money …

Generally speaking. well. a course is better then starting with nothing. spending 2400 pounds plus they try to make you upload money on a broker they probably get bonuses from after you uploaded your money… is way over the top tbh.

in my eyes its a trade off for new people to goin bigger then they planned.

Alex course sounds reasonable. You pay 1000 and get information, no connection to any broker hourse or the trigger to make you upload moneyimmediately.

generally speaking if your new to trading, after a 2 days course you are far from beeing ready toupload money and especially not big summs so rather rethink your course in london.

a course for 1000 where the basics are explainedand where people explain you on what you need to put your focus on and you are not beeing forced or persuaded to upload money sounds more reasonable

I have a very unfavorable opinion about paid lessons. They may give you a slight leg up but there is nothing you cant learn from all the free resources out there.

There are also cheaper and better solutions if you are just in it for signals.

Short answer, Do not go.

Longer answer, imo trading courses with such high costs imo only serve to fill the pockets of the guy selling it to you and you won’t get that value returned anytime soon. Better start reading books, get online learning material right here from babypips and do the work! Yes it takes many months of work and many hours, that’s just the way it is. No quick fixes! So don’t get scammed into buying these packages! They are pure money makers for those that sell them.

edit: besides the point. Don’t think you can make profitable good trades after a few days and even signalled trades is not going to help you in the long run. This is really creating a bad long term outlook when it comes to trading. Do it yourself and use resources to learn, do not lean on expertise by others. IMO

I wouldn’ t go either. Also the bank they mention, never heard of it.

1,000 pounds will give you the opportunity to burn 10 accounts of each 100 pounds. If you haven’ t learned it by then something is off.

Really, best to learn it yourself. Trade strategies you can find on the net or youtube movies. Experiences the trading emotions is something you have to learn yourself anyway, noboday can teach you that.

Wow, it’s too expensive! Like, it’s a real waste of money to me! And trading real? Why? You can try demo and do it yourself, at home! You don’t need to spend a fortune to [I]try[/I]…

Hi

This is my personal experience, Since i’m working as fund manager in my export import company.
I need to learn how to read forex chart. so I start to think that learning from course will give me the idea about trading using chart analysis.
So I spend ridiculously amount of money (roughly $30,000)to learn from dozen courses such as advance pattern course, elliot wave, and volume spread analysis course. In my opinion most of the course tells you almost the same like babypips school. So The big picture it’s not worth it.
But the positive side are: I never blow up my account like everyone else did, also it guide me to know great mentor from other forum that give me great trading experience and how to read the chart.

My mentor is not even famous, but he can teach me by example.
In my opinion. Many of this trading course in the internet have great marketing ability. like one of my course that i took couple of years ago. after I join their course, they still sell me their indicator that cost 1000USD.
and believe me, it is worthless. this is what marketing do. they got paid to make you buy the product that you don’t actually need. (do you ever experience this kind of thing? I do, when i bought a lot of supplement product that give me nothing). and this is the same thing that happen to me in trading course.
in my opinion the best indicator in this world is your eyes and brain with the help of free indicator that all trading platform have.
Just learn from babypips until you master the basic, than you can check how traders trade in each forum while you also open a virtual trading account. soon or later if you practice everyday you will starting to realize how to trade and how the chart work.

Good Luck

The best way to help your self is not to go to that supper expensive course. No matter how attractive it looks like, you should know that there is no short way to getting education and making big money. Everything you need to educate your self you can find it online and it is for free.

I can’t imagine how it’s a good idea to make a total newbie to trade with real money after two days of courses, no matter how extensive and detailed those courses are. It all sounds very dodgy to me.

Thank you all for your honest advice. I did not go to this course… I am still waiting from 2nd March for the deposit refund of £500. They are quick to take the money>>> late giving it back. This is called “Learn to trade”. Many thanks again, My Friend Money

Point 1: Most of what you need is already available. If you want to learn, put in the study time. there’s publications in PDf you can read etc. I would really really really recommend doing your online studies. Watching tutorials, and reading real forums based on real accounts of real people making real mistakes. The brokerages will publish everything they want you to see…

Point 2: Ask yourself honestly, if they were hot shot super professional trading guru’s. Why are they scrimping classes for profit when they should be trading from a hammock in Barbados?

Point 3: If they say “bonus” at any stage. You are tied into bonus Terms and Conditions which are designed to stop you making a withdrawal. Once someone says “bonus” you are speaking to a scam. Its quite simple. Very rarely do you find legitimate offers of bonus with no TCs to lock in your real funds with “tradable funds” (look out for this expression too). I know of 2 companies in the entire sector who are legitimate bonus offers. So unless you’re speaking to a bank like Investex or an app broker like HarborX both of which have zero sales teams… then its a scam.

Forex is about making smart decisions - based on what you’ve said - a smarter decision would be to deposit those funds into a true ECN STP brokerage working on bank regulated assets. Try a low risk strategy called Scalping. Use the funds for low risk tiny trades, backed by plenty of stop losses…get a feel for whats happening after you study, start following fundamental/technical analysis/economic calendars etc.

Guys if I have given bad advice in the post ^^^ above please do send feedback even if its direct and negative - constructive feedback is still welcomed.

Hi Christian,

Your point of view is not wrong, but i think still need additional touch for each of your statement.

[U]point 1: Most of what you need already available.[/U] This statement still a bit vague to me.
So if i want to make it clear, what we really need as basic in forex is already available in babypips and any other youtube video. but about the feeling and mentality. this one is not available everywhere. we need to have analysis and continous trade with your own strategy until you develop confidence in yourself by earning profit every months or years. for me sometime a trade can take me about 1-2 years such as USDollar trade, that i bought 3 years ago and keep the money until end of this years to switch to SGD.

[U]Point 2:Why are they teaching trading while they can become succesfull trader?[/U]
usualy the above statement are comes from swing trader like me. sometimes i teach my friend about trading, so my friend will not lost himself in the jungle of chart. but i’m not teaching my friend for money. i did this because my trade took many years and most of the time i don’t have anything to do (I trade real commodity and real money, my trading platform trade just for fun and analyse the investor behavior only).
so instead of doing nothing in my home. i go look some job to earn more money. but i’m not opening class. i just do local commodity trading as another job such as leather, property etc.
So in my opinion some of the teacher is swing trader that want to get additional income. because if he teach, he did not lose anything. and he got more additional money.
Not all course are scam, but most of them just did not give you their secret to analyse the chart and they only teach you their strategy. because if you can analyse the chart, you will be able to use any succesful strategy in this world and even you can judge whether someone strategy is valid or a bust
to be honest guys. if you cannot analyze chart you will having difficult time to use the strategy. this is my personal experience, if you don’t believe you can give it a try. and i’m encouraging you to try it. so you know that i’m talking the truth.

That’s all i think from my point of view.
Thanks for sharing with me

Don´t take the course.

I never paid a single dime to become profitable. Everything you need to succeed is on forums, books and videos for FREE.

Hi. I much appreciate your message. What is your opinion? Is Trading Live better/worse than investing in Strategy Managers? Many thanks.

Hi MixMatch Trader. Thanks for your post. Could you please explain, what did you mean by this “for me sometime a trade can take me about 1-2 years such as USDollar trade, that i bought 3 years ago and keep the money until end of this years to switch to SGD.”? What did you buy 3 years ago… is it a program/software… and what took you 1-2 years… learning to trade? Sorry if I got it wrong… I am a “newbie” :)). Many thanks, My Friend Money

Read more: 301 Moved Permanently

Hi, nice that you have spirit to learn trading.

First I trade real money. I living in indonesia, so basicly if you saw indonesia chart the money is keep falling againts USD (i check with the USDIDR chart), so in year 2012 i decided to convert and put most my money to USD (such as Bonds and Bank Deposit income). i let it flow until end of 2015. why i can make this decision? because i read the chart and people behavior in my surrounding.
around october 2015 i decided to switch My USD to Indonesia rupiah again and SGD (the SGD is just for hedging since this currency is stable). all My family is go againts me. because the newspaper keep saying that rupiah will go down again. (please becareful on news, because the investor is not following news, they make the reporter following them)
But i keep insisting to sell USD and switch To indonesia Goverment Bonds. and what happen this years? the indonesia currency getting stronger due to strong investor coming to this country. and i don’t even know what is the reason. but i do know from chart that this is getting stronger.
Sorry for the long story, just to make it short. since real money need lot time to withdraw and put into other investment. it could take few weeks to finished my transaction. so the investment i took is long term investment. But just keep in mind. Investment is not the money that i use for my business. Investment is the money that i don’t particularly use. so i put it into investment.
what kind of investment? before i able to read the chart i only invested on the safe heaven just like property or land.
But after several years of experience, i dare to put my money in riskier investment such as equities and money market. but again the time frame i choose is for Long term trade plan. one of the reason is i already have family business, so i don’t have time to keep my eye on the chart everytime. that’s why i keep the trade 2-5 years.

Do i trade in trading platform such as Metatrader? yes, and i’m using IC market as my broker just for fun. so the metatrader is only for my tool to analyze chart. but i suggesting you play in virtual account (fake money)and learning step by step. trading is not kind of skill that you can acquire in months. it could take years.

so Good Luck and Never give up on learning

I have an idea that people think if a thing (a course here) costs a lot, it’s a good one. However, it may not be. Sometimes the cost is not worth it. So don’t get blinded by big sums. It doesn’t mean it will give you skills and abilities to win fortunes in 2 days. Just think about it: 2 days! some traders spend years to be experts. And 2 days don’t even count like a good beginner’s stage. So please be careful.

Never ever ever pay for courses