Hi,
I am totally new in the forum; however I am a dedicated student at the pips school, slowly progressing still in the 3rd grade.
My question is it right to attend Forex trading courses. I received some offers (online Trading Academy) for attending 2 days course about Forex but I am hesitated, I don’t know if it is the right step for me now & the charges are really high $1,750.
I would love to know your opinion about this & thanks in advance.
Regards
In my opinion, don’t pay for training courses. Babypips gives you a lot of information. The best way to educate yourself is a demo and later a mini account.
online Trading Academy
Know nothing about them personally, but nearly 2 grand whew!!!
But anything online needs to be researched fully.
There are lots of free resources on the web, see
babypips forum etc.
But everybody is different.
I would look for some form of courses in your local
college etc.
dear miss ladypips, please read the babypips all the way through thats what i had to do and it will give you the majority of all your answers you are seeking. thanks. joanne. ps goodluck.
Good luck finding anything trading related in a college program. The traditional Finance program is way short on practically useful informatoin for the individual trader/investor. Believe, I know. I have BS and MBA degrees with Finance as the concentration. The trading course I was involved in developing and teaching at a local university was actually an experimental elective that is still waiting to get fully approved status. I put in as much practical stuff as I could (which is how I ended up writing my book), but I couldn’t take it nearly as far as I wanted because of the requirements of sticking to the overall cirriculum.
If you can find a professor who’s actually traded in a meaningful fashion for a while (good luck with that!), you might get some little tidbits out of a class, but he/she is still going to be constrained by program requirements.
I received some offers (online Trading Academy) for attending 2 days course about Forex
So rhody would you pay $2000 for an online trading
course, as the o/p was asking?
Definitely not if I were new to the markets.
The biggest reason people end up wasting money on courses, software, subscriptions, etc. is that they don’t know what they need or what’s right for them. Most traders when they get started don’t take the time to really evaluate things in terms of the market that’s best for them, the timeframe they should trade, the approach to use, their risk tolerance, etc. They just jump in with no real direction and end up bouncing from one thing to another, oftentimes losing a lot of money (both in captial and expenditures) along the way.
At a certainly point it gets figured out, but only by those who have been able to stick around long enough to do so. An awful lot of new traders blow themselves up before they can sort these things out. That why I really try to drive home the need for a thorough personal trading assessment whenever I speak with traders - and not just new ones, because even some folks who have been around in the markets for a while never took the time to really think things through. Oftentimes that means they aren’t getting as much out of the markets as they could, or putting more in than they need to.
I want to thank you all for your valuable input; it is really thrilling to find such instant responses.
Though I am still puzzled, can you share with me your experiences, I am reading a lot about the forex trading, I am doing fine with understanding the basic concepts , but I can not get the candle sticks chart technique, that is why I thought of attending courses with professionals I would get the idea & save my time.
What:confused: do you think??
Why are you trying to learn candlesticks?
I’m not implying any judgement about their usefulness here. I’m just inquirying as to your motivation for learning that methodology.
but I can not get the candle sticks chart technique,
Take a look at this link, it gives a little more information.
Japanese Candlestick Charting Explained
But also take a look at the chart on this link.
Alter the chart with view>zoom in & time scale & period>1minute>1hour
You can watch the candles print out
rather than just looking at a finished chart.
I would say rhody because it’s in the babypips school
which ladypips is looking through.
thank you daydreamer65, you just saved me, I was scratching my head & terrified, yes that is the answer (it is in the babypips school) , I am still baby & trying to find my way out here.
Instead of putting $2k into a training course, save it and use it as your capital to start trading. As it is said in the school, this is a business. Keep your expenses down. Instead of buying books, see if your local library has it. Many brokers have basic training webinars. Take advantage of them.
As we say here in Vegas, “Good Luck.” And don’t forget to give your dealer a “toke.” 
pimpinpips
viva babypips.com
ladypips:
take USD 750 of that money and start trading a micro account somewhere.
I think courses are a waste of money unless you’re really experienced and are looking to learn a new, complex technique.
But you alone will learn how to trade, by going to school here, PLUS by starting to trade small after a few weeks of demo trading.
gd luck
don’t waste your money on those trading schools…you can learn as much or more on your own and if you want to be successful and earn money with this ,you can do it on your own and save the money to open a standard account when you learn and know what your doing in the trading business.
Learn from babypips.com/school
open you a demo account with FXCM.com …use there charts …do that for about 6 months to 1 year…then start with a mini account.someone like…
easy-forex.com/us
where you can trade with a $50.00 account and even learn alot from having a live account.
Just remember to never risk more that you can afford to lose
Good Luck !
Have a Happy trading day!
Well Ill go ahead and comment, I would like to start off by saying I am not a Forex Guru, Genius, or even semi experienced in this Market. The problem with paying someone to teach you how to trade is eligability. I can create a website advertising a Mentor system with all kinds of testimonials from all sorts of different people. I can copy a trade history from a Demo Account thats not even mine. The sad thing is, people would sign up, I would provide them with information that is available on this website free of charge and make a killing off of it. When they fail at trading I would simply say you didnt follow the instructions, your money management wasnt followed strictly enough, you got greedy or you were afraid to trade when you should have, there are endless excuses as to why the person failed. This is why you need to get a DEMO ACCOUNT and a SYSTEM and STICK to it! If your not making money, find another system, make changes to the one you like, this is not easy to accomplish, if it were there would be no poverty, everyone would be rich off the forex. Obviously not the case. Be aware of those trying to take advantage of you.
Most people linking websites on forums, including this one, are attempting just that, so some of us are trying to prevent the new people from being taken advantage of. Common Sense, is NOT Common. Also to the post saying “Time is Money” switch that around and you may become a forex trader in the future, rushing through the learning process will put you back on the side lines with everyone else.
Tess is right about mentoring, but so is Muck.
I’m very new to forex and my biggest achievement to date is finding this site.
Like ladypips, I was tempted to take a course and there are some credible looking course vendors out there. Trouble is, as Muck says, It is quite easy for a slick marketeer to set up in Forex as people are information hungry, particularly those who want quick results. I was delighted to come across Babypips and the message about demo trading and patience has sunk in.
However, for anyone like me, who wants to make forex a business, up to 2 years demo trading (or longer) is one hell of an investment, so the prospect of spending something on training/mentoring can be looked at as a sound idea if the learning curve can be reduced at all.
Does anyone offer genuine mentoring or want to? or am I asking too much. Similarly how does one avoid the credibility/eligibilty issue? I can think of some solutions but It would be great if there was already a programme in place.
There are, of course, plenty of folks out there who offer mentoring at some level or another. And as very well noted, the hard thing is knowing who’s not just legit, but also worth the money. In other fields there are certifications and pretty easy ways to confirm someone’s qualifications. Not so easy in trading, though. Probably the best source is direct testimonials from folks who have worked with the coach/mentor. I don’t mean stuff posted on sites. I mean direct communication yourself. Anyone who’s for real should be ready, willing, and able to provide that sort of referral.
Just like courses, though, mentoring/coaching is going to be much more cost efficient and effective if you have a good foundation and understand your needs.
There’s also self-coaching, which is something Brett Steenbarger focuses on. Brett’s second book, [I]Enhancing Trader Performance[/I], really concentrates on that. He also posts frequently on the subject in his blog: TraderFeed
There’s also self-coaching, which is something Brett Steenbarger focuses on. Brett’s second book, Enhancing Trader Performance, really concentrates on that. He also posts frequently on the subject in his blog: TraderFeed
Funny that you mention, “Enhancing Trader Performance,” John. I love that book!
Not only does Steenbarger talk about the importance of mentorship, hard work, and persistence, but the path to elite “performance” is having that passion to be great in your chosen field and finding one’s own niche in that field.
Getting to know one’s own strengths and weaknesses is an aspect of trading that is rarely tackled by most traders, let alone newbies and I hope we can correct that soon here at BabyPips.com
I think every new or struggling trader should take the time to check out “Enhancing Trader Performance,” step out of the box, and re-evaluate what it is they really want from the markets.
Yes Tess, there is definately a difference between a “mentor” and learning from classes. Heck, everyone learns in different ways. I think many of the members here were just looking out for the scams that have been popping up. If you can find a mentor who is really coaching you and giving you the results you desire, then it would be money well invested. 
But, there are so many scams out there that it’s hard to find a good, honest, mentor out there.
So I say caveat emptor.
pimpinpips
viva babypips.com