Advice on purchasing online courses

Beginner Questions
1

Hi,

I am a college student currently taking an interest in learning the market, I’ve already started learning from pipsology, and tradimo.com. I usually take quizzes offer in pipsology as well jotting notes down. One of the strategies I’ve been doing as I learn, I would read a lesson from pipsology, then go to tradimo and read a lesson covering the same subject. I started a demo account with FXCM. I have 10k to invest (started saving since I was 15 years old). I’m now 20; I want to know if anyone here heard of tradeempowered.com? If online courses are worth to buy in the long run? The courses are relatively expensive; the Syndicate Training Program is probably the cheapest one $297 it offers Professional Training, Real Time Trading, Live Broadcast, and Expert Analysis. The advance pattern one is $497 ( only has eight videos), but it’s concise and clear according to Jason(the teacher). The 12 weeks transformation program is 7k, but for right now it’s $3997, (it offers access to a lot of things).I don’t expect to become a full-time trader, just a part time trader while focusing on my career in Accounting in the future; once I graduate in 2 years. I also know it’s going to take patience and dedication to become a profitable trader. I planned to trade in the demo for a year or maybe shorter before going live. Start with a small account play with the micro lots; once I notice I am continuously profitable that’s when I’ll invest the 10k. I also know as a trader you’re expected to lose a lot which is understandable.

2

break out candles is a big one
and ignoring mt4 use ctrader smart calgos

3

dont purchase any online courses

4

Jason at tradeempowered is a great salesman, very plausible, and probably a good trader. But, once he has his claws into you there’s no escape. There will always be another course that he pushes, always at a specially discounted rate if you sign up immediately.
Grab your money and run. Unsubscribe from his newsletters, block him from contacting you.
With $10k you could open an account of your own and trade mini or micro lots for years while learning for real.

5

Yeah i would agree with this statement, i am very familiar with there stuff. I thought about it at first but couldnt fork up the cash. Heres a quick tip: They have several youtube channels in which they cover pretty much everything aswell. It helped me alot when i just started out. I even spoke to charles miles once to get some pointers, had a good talk with him. In the end im rather glad that i didnt pay top dollar for mentoring and just did it myself through reading articles, the school here offcourse, forums and just endless hours of hours watching youtube videos of all kinds of forex related subjects.
Throwing yourself in the deep en doing it all yourself makes it stick better i think. Better than having the way paved for you. You just need to commit, but thats just my opinion though.

6

Thank you guys for the feedback, what are some good other resources ( online sites, books, videos on youtube, etc…) that help you guys on your journey? Once I finish pipsology & tradimo, I would like to know what else I could do to pursue my learning into the market that will not only teach me how to trade, but to develop good trading habits as well. I know having experience in the “war-zone” has a big part to teach me the trading aspect of it as well as picking up good or bad habits along the way.

Also, would you guys suggest for me to put a little bit of money into stocks, futures, options or even real estate? In the future, I plan to invest in a lot of things, but I want to hear your opinion on this.

7

[U][B]Books[/B][/U]:

Profitability & Systematic Trading (Michael Harris)

[I]Trade Your Way to Financial Freedom[/I] (Van K. Tharp) - an outstanding starting-point

[I]Beyond Technical Analysis[/I] (Tushar S. Chande)

[I]Understanding Price Action[/I] (Bob Volman)

[I]Naked Forex: High-Probability Techniques for Trading Without Indicators[/I] (Alex Nekritin & Walter Peters)

[I]Daytrading[/I] (Joe Ross)

[I]Trading The Ross Hook[/I] (Joe Ross)

[I]A Mathematician Plays The Market[/I] (John Allen Paulos)

[I]Fooled By Randomness[/I] (Nassim Nicholas Taleb)

[I]Why People Believe Weird Things[/I] (Michael Shermer) - this book and Taleb’s, just above, are hugely helpful - albeit indirectly - for “understanding what’s going on in forums”!

Trading Price Action Trends - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)
[I]
Trading Price Action Trading Ranges - Technical Analysis of Price Charts Bar by Bar for the Serious Trader[/I] (Al Brooks)
[I]
Trading Price Action Reversals - Technical Analysis of Price Charts Bar by Bar for the Serious Trader[/I] (Al Brooks)

[U][B]Online course[/B][/U]:
[B]
https://brookstradingcourse.com/[/B]

I trade futures and now invest a bit in real estate as well, but nobody can “advise” you, realistically, on this question without knowing all about your financial situation and a whole lot more, too.

Apologies indeed if I sound “dismissive” of your question (not my intention at all!) but I think you should be very wary indeed of taking advice from strangers in a forum, on a subject like that.

Be aware that success-rates in forex trading are [B][U]very[/U][/B] low - whoever’s figures you choose to believe - and anonymous forum-members are hardly “experts” on financial issues. (That was my attempt at a relatively polite and tactful way of pointing out that you have no idea, and no realistic way of assessing, whether anyone here actually knows what they’re talking about, so don’t ask us for financial advice! :8: ).

1 Like
8

Yeah you should definitly stick to one field and expand youre knowlidge in that first, what ever the field is should be entirely upto you and where youre interest lies.(whatever tickles youre fancy, sidenote:god i love that saying:59:). You can always look to other things later on.
What i really wanted to say,since i forgot last time was always remember to keep a detailed [U]tradingjournal[/U].
That wil definitly help on youre way to becoming the next Soros.

9

Lexy, what was your learning experience like when you took brooks trading course?

Do you feel like you learn a lot that was offer in the course?

Do you think it was worth to purchase?

For $249, I feel like that’s a steal now a days so I’m debating it.

This would be my very first online course purchase, I want to make sure it’s worth it.

10

Paying for courses? it’s great to have the privilege to do so. I learn it through google and youtube.

eg… below

chartpattern.jpg700×369 51.5 KB

Many pips to all.

BR,
Victor Lew:53:

11

Nothing like most of its viewers’ experiences is likely to be … for the simple reason that I’d already ploughed through (and believe me, “ploughed through” is an appropriate expression!) his difficult textbooks a couple of times each, when I did it, and I’d already been making what anyone would call a decent living for a couple of years (trading price action, based on using techniques from his books, Bob Volman’s and Joe Ross’s) [B][U]before[/U][/B] I even saw it. So I was only “checking it out”, really. Because as you rightly say, it’s a steal for $250.

I was very pleasantly surprised by it and could see that (to anyone, I think!) it’s far more approachable than his books (which, by the way, you don’t need to have read, to do it).

As I remember, it’s about 55 videos adding up to about 35 hours of content.

My [U]only[/U] reservation in recommending it to you is that I have absolutely no idea how much experience you have, and it’s possible that someone with very little might still find it difficult. But I can’t assess that.

I’m as confident as I can be that you won’t be back later saying “Well, that was a damn waste of money”, anyway, and for what it’s worth, I don’t recommend things lightly.

But Al Brooks is definitely “one of the good guys” and “the Real Thing” - this much I can tell you. He’s technically a vendor, in that he’s marketing a product and making something out of it, and in the murky world of forex, one is well advised, in principle, to look askance at vendors, but “being a vendor” is definitely not his primary income: he’s been an extremely successful trader for decades. I happen to know this beyond any “marketing messages”, because his former occupation (which he gave up only because he was earning more from trading than from his career) was the same as my mother’s job - and it’s a relatively small world and she “knows people who know him” and all the rest of it, so I do actually know from reliable, non-trading sources that his “story” checks out.

I suggest you have a good look through the course contents, which must be listed on his site? And if you feel like “Yes, I’d like to know about that”, try it. But if you feel like “I have no idea what any of these words even means”, maybe think again??

12

Thank you Lexy, I’ll look into it. I literally just started forex a week ago, so I do not have any experience at all. Hence, why I’m asking a lot of questions.

13

He is futures trader not forex ,very different
i read 3 of his book in pdf format , its only for traders .
I would also recommend investopedia

14

He is - he trades mostly ES, which I’ve never traded at all, but his video trading course is designed to be applicable to forex, among other kinds of trading (you don’t need to take my word for this: it’s explained on his website).

In my opinion, not so at all: the price action principles he teaches are the same for both index futures and forex: they’re both widely-traded, highly liquid, almost 24-hour markets, after all.

15

I look at like this, do you think buying a 3,000 dollar set of golf clubs and another 3K for lessons is going to get you on the PGA tour. Not a chance, save your money, The pip school here on babbypips is better then most courses you pay for. Then once you get the basics there are places for additional knowledge that cost little and many are free

2 Likes
16

Great advice, I’m with this one. There is plenty of stuff available free online, all you need to do is search for it

17

And somehow, perhaps magically, have some way - [I]with absolutely no previous knowledge or experience at all[/I] - of distinguishing between the 75% of it that’s misguided nonsense and the 25% of it that may have some value? I certainly wasn’t able to do that, myself, when I was starting, and I don’t think I know anyone else who was, either. That’s why I so strongly recommend [B][U]avoiding[/U][/B] free, online “information”. That’s what most people try to use - and look at the overall success-rates in forex trading resulting from it. :35:

18

A lot of such “online trading courses” are just scams looking to rip you off. You had better invest in textbooks and taking the time to speak with experienced traders in person.

20

Very helpful opinions and ideas, good to hear different points of view.

21

Hi Pierre,

I know you are really excited right now to learn everything.
I was in the same boat like you. you can use my point of view and experience in order you don’t make the same mistake like i did.

  • first I spend more than $30k to join almost 20 webminar (including what you want to enter), seminar and bought their indicator. ( i joined advanced pattern course, elliot wave course, volume spread analysis course and lot of trading strategy ).

What did i get?

  • the more i follow lot of strategy and course the more i’m confused, every people have their own unique entry and exit strategy. but i never able to follow all of them. this why you must learn all forex jargon and theory. not all course good but not all course are bad if you already understand the theory and jargon.
  • the benefit when i’m following the course, i never blow my account. it is just stay the same.
  • some of the course are too commercial, they giving you promotion of their indicator and everything. up until now i spend more than $5k to buy indicator and put it in the trash. in my point of view best indicator is my brain and eyes. even the indicator i’m using right now is free. indicator was made for each person interest, so different people different interest. but you can find basic indicator in the internet for free.

O.k last but not least, When i followed a lot of course together, it is like hell learning everything everyday. it is so stressfull i test every strategy in different account in order to know which is the best, but turn out i could not use the strategy and even send me to the hospital since i did this for about 4 months and i did not get enough sleep. and i suggest you don’t do the same like me.
But when i’m in the hospital and I have more clear mind. following all the class or course together make me realize something and this is really important that can change my way of thinking in trading.
Even every class and course have different strategy to enter the market, stop loss and taking profit. but One thing that connect all the dots here.
Every course teacher when they say they want to sell with their own strategy, 90% of the teacher always said they also want to sell. Than i realize “this is it” there is something that i need to know what makes them have decision even their strategy is different. this is what i need to know.
Than after back from hospital i strated to check all over from 0. after that something cross in my mind about art of war. if you want to penetrate your enemy you need strategy, but every general before they made strategy they will send someone become a spy and “ANALYSE”!!! enemy power and teritory.

That’s why I always teach my friend do analyze first than learn the strategy. learn from e teacher or course who can teach you “WHAT ANALYSIS AND BASED ON WHAT SO THEY CAN MAKE THIS STRATEGY”
and based on my experience 3-4 years ago. there is none one single course that teach me why this strategy has been made off. They only teach me what strategy that they using.
I don’t know the forex course right now, but hopefully the could give you more than they did to me last several years ago.

Just a few advise:
Please learn how to use correct trend line, fibonacci, divergent. this is really helpful
please learn theory about market analysis such as elliot wave and volume spread analysis.

If you have more question you just can post it. and some of the senior member will help you or when i’m available I will help you the best i could since i also have a resposibility in my trading company. i will not online everyday.

Good Luck Bro