Forex Courses

I’ve been looking for some good courses for forex training. Found a couple, Peter Bain, Aden Rusfeldt and Jimmy Young. Of these Jimmy Young appears the best but its rather expensive…around $1300. The other 2 have good and bad reviews…never found a bad review for Mr. Jimmy.

Anyone with experience or comments ?

jake

my advice is to save your money, none of those courses are worth the cost.

If you’re dead set on taking some kind of course for a fee, take the FXCM power course. It’s a decent course and they’ve been running a promotion, only $20 for new students.

FX Power Trading Course, Limited Time Offer, Learn to Trade Currency for Only 19.99

hey,

I’ve been on a few courses in the UK and i left in dissapointment, they are rather expensive and they still leave you walking away.

Most of them have chart setups that look good, but they already know that they were good winners.

I thank the babypips team - everything you need is right here, you just need to spend the time to absorb it. In addition theres a free questions and answers forum … what more could one need?

But on a more serious note, save your cash, and if you need anything feel free to ask, the group here is one of the most helpful you’ll ever find.

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I think there is more to trading than what baby pips teaches you. No offence this stuff is great but trading goes beyond basic technical analysis.

I have taken three courses in my life after the first two I left more confused than when I started. I went to 4X made easy and they took a lot of money and taught me what Baby Pips teaches for free.

I then done the Jimmy Young course for a promotional price through ww.forexbastards.com which was a useless scam. It is basic technicals that you learn here at babypips.com plus basic fundamentals.

The last course I took 2 months ago was with Nick from Forex Clarity it was not so much a course as one on one mentoring. It was only $700 for the whole month and I learnt a lot of how to use techs together with each other and how to use them with fundamentals. I learned how to trade the 4 hour charts and now I take about 3 trades per week and make as much as I use to make working 5 days a week at my old work. He also sends you PDF documents about everything he teaches you so you do not forget. Even two months later he still helps me when I need to be refreshed from time to time.

I am not saying Jimmy is a scam but when the he done that stuff through Felix’s site it was crap!

What I hate is that I spent $7000 without learning anything when I could have spent $700 from the start.

I have to agree with groovenator. No matter how useful, informative, helpful and free babypips is, it is very unlikely to be enough to turn you into a long-term profitable trader.

I wouldn’t recommend ever just taking a trading course that doesn’t allow you direct access to its creator.

What you really need more than information written down in black and white is a mentor. You want to be able to quiz someone who has been around the block a few times. Someone who can help you find your way, but who at the same time leaves you to do all the hard work.

No one else can make you a successful trader; only you can do that.

Having a mentor can be the best thing you’ll ever do in learning to trade profitably.

Of course, finding a good mentor who wants to have you as their student is another challenge entirely.

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Yeh the problem is finding somebody that will take you he is very picky with his students. A course is nothing it is a generic set of rules and ideas if we could have a good mentor in all aspects of our life that we struggles with we would all be very successful.

This business we are dealing in is hard and I would not trust any course. There is only so much you can learn from generic material and talking to a self proclaimed expert over email.

Can mugen or anyone who has taken the fx power tradeing give a bit more detail on why it should be taken. I`m very intrested in takeing it but dont want to just throw money away to get the same info that is on this site.
Ive been through the baby pips school about three times so far and am in desperate need for more detailed info. does anyone have any recomendations?

I have not taken it but for the money you are paying I can only guess that it is a course on the basics. I highly doubt any detailed trading method or strategy will be revealed. Like me and Scott say a course will not help a mentor is your best bet. Sadly Forex is one of those things that you have to spend money to make money. Either on education or losing it in the market to gain experience it all boils down to that.

Here is a Google of ‘Forex Mentor’ I am sure you can find somebody there to help.

forex mentor - Google Search

From my experience I recommend Nick from Forex Clarity because he taught me and now I am trading well for the first time ever and his course is cheap compared to most.

I have also heard good things about Jimmy Young’s proper course (not the one I done) but at over $3000 it is really does break the bank.

If you do take mentoring make sure that you are one on one with the person and it is not just a course. If you take just a course you won’t learn you need a real teacher to learn.

I would be cautious with the power trading course because it is provided by a broker, everybody knows brokers want us to lose money so I do not think they would teach you anything good.

What groovenator preaches is quite the truth, the thing is that all in all besides the basics, there is not too much to forex trading. The only way to conquer the market is to conquer yourself - not my quote I’ve heard it somewhere, but I wouldn’t use conquer. Only the mindsets you need can’t be taught, I don’t care who it is. Experience is the only way to gain success. It actually annoys me when I see those adds because most of the people that usually teach them aren’t even successful in the market. A mentor is good, but name one successful know trader that made it through signal service and those adds on TV, ridiculous, you see people celebrating when they make a trade(you should never have emotions when trading). What do you think is the success rate of those courses? I’d bet a really low number. Sure they have reviews, but you don’t even know who the people are, where are they now? If you try and make an easy buck, you’ll get one, but by the bull or bear in the market that’s against you. Either way, you’ll learn the hard way or no way at all, in the end, you’ll know.

I recommended the course for a few reasons:

  • It’s $20 dollars, regularly it’s around $200.
  • You receive free access to fxtrek desktop for one month, it costs $100 per month to pay for it and is a very nice charting platform…too expensive for my taste though.
    -You work through the lessons that are posted each day on the forum, it is similar to the babypips school.
    -The difference, and the main reason why i recommend the course is that, after each lesson you are to find a trade based on whatever was taught, place the trade in your demo account and then post the chart setup/reason why on the forum. The instructors will then critique your trade and offer advice, mistakes you made, things that could’ve been done better, etc. You can post more then one trade, they will critique it all. You are also able to ask questions in the forum. The instructors are all traders themselves and do offer their insight and advice. You can also email them for up to a year afterwards with questions and they will reply back.

The course in general does lean towards longer term trading as does the instructors advice, however you will find most people will recommend that, myself included. The shorter the time frame, the more random the price action is which makes it much harder to predict. What I wish the course did teach, was a trading plan. Unfortunately it does not, and that is where someones help or blunt honesty is needed most. A few books offer insight into making a trading plan and trading strategy, the ones that were good are:

“Mastering the Trade,” John Carter
and
"The Essentials of Trading," John Forman

John Forman, known here as RhodyTrader, aside from his book also offers a course on creating a trading plan. I’m currently taking it, and have been very happy with it thus far. It was worth the money. He also is starting to offer to coach people at the price of $300 dollars per month last time I checked. It is much cheaper then the other offers I see, and I feel he can be trusted. However, in my opinion it is still too expensive for my blood. Much more reasonable then everyone else that I’ve sen though.

The latest trend seems to be about finding some mentor, it’s the only way!!! If you ask me, it’s a ripoff for the price they’re asking vs what they’re actually offering. It is certainly not the only way to become a profitable trader.

Guys,
Thank u all so much for all the informaion and advice. I have to admit, this site is excellent to get the basics but i think i need a lot more to be able to trade successfully.

I almost bought Jimmy’s course but am going to think a while before deciding.

His couple of trial lessons seemed really good but he’s not offering live training (that would cost about $5000) but access to his forum and CDs and a manual.

Am going thru Forex Clarity. Is Nick’s strategy mainly for swing trading ? Is his signal service good ? Also, does his course combine fundamentals with technical…and is it simple or comlicated ?

thanks,

jake

It is not the only way but you lose a lot more trading the market. You cannot become totally self reliant by a generic course that thousands of traders do. A mentor teaches you from their expertise how to trade all I know is I made 270 pips last week trading GBP/JPY, 110 trading GBP/USD, 80 trading EUR/USD. Before I got myself a mentor I was losing 0 to 100 pips per week and I liquidated a $5,000 account. I have taken generic courses and I have read baby pips and it did give me a feel for trading. However I never actually felt that I mastered it until I got training for a mentor.

There comes a time when you say “f*** it” and you either need to get serious about trading or go back to your normal everyday existence. I didn’t want to work 9 to 5 and I was tired of being a failing trader. A mentor isn’t the only way, some people are naturally talented and some people learn through trial and error. Some people land jobs with banks and get trained by banks.

Babypips is great and I have been a fan of theirs since the beginning but they do not teach you how to become a full time trader. It is great for the basics like I am sure the powertrading course is but taking a trade live with an expert and understating exactly why you are getting in is an unbelievable rush. Knowing the fundamental, technical, geopolitical reasons for entering a trade and having it go your way is something you can only learn in two ways, by yourself or from a professional trader. No book or generic course in the world can give you that.

Pipjake I am just trying the signals for my first month because I want to go on holiday and I won’t have time to make my own trades. I am not sure if it is good but if you want to wait two weeks I will test it and tell you.

I do know about the mentoring because I took it. He taught me how to trade 4 hour charts technical analysis, fundamental analysis and geopolitical analysis. The trades I take usually last about 12 hours but I do not have to always watch them. It allows me freedom and that is a good thing for my lifestyle. He strongly believes that you can’t trade only technical’s so the first two weeks he teaches technical’s and the last two fundamentals. It is a simple system without many indicators, it can be a little overwhelming but after a few days you get the hang of it.

This is the best thread I’ve seen in a while. No sugar-coated “you can do it!” nonsense. groovinator, shadow: rock on!

…and remember never to risk more than 1% of your account on any one trade… :smiley: :smiley: :smiley:

This is a candy-coated “you can do it!”, in disguise. You need a mentor, and then you can do it! In only four weeks time, learn to master trading! I’ll bet you can even pay in installments with some of them at the cost of only 10 pips per day.

Despite my sarcasm, a mentor is probably not the worst thing out there…just one of the most expensive and over hyped as of late. If you find yourself lacking discipline and unable to learn from books, previous mistakes, forums, etc, go ahead and work for a week to a month to pay for maybe 10 hours of some strangers time each month. In general, with a few exceptions, those mentors found it more profitable to peddle their wares then to trade for themselves. Typically making them an average trader at best. There’s always an exception to broad generalizations; so anyone looking for a mentor, I hope you find that exception.

If you are looking for an education during live market (not after the fact b.s) you should consider korzec.ca/chat
Also, I heard she is doing a two day workshop in Florida in May, for $100 !!! (one hundred).
I don’t have any info about it, but I read on the meetup.com site, that she is also doing a one day seminar in London ON in April … also for $100.

Hey I’m thinking the same way that you do. I found Kathy Lien’s book Day Trading the Currency Market very helpful. Then I found a review on another book I was going to buy, but decided to buy a book on technical analysis, chart patterns, Nison’s candlestick charts, and books on capital gains taxes or trader tax law. I ended up with the Technical Analysis for Dummies by Barbara Rockefeller, a currency trading specialist, that will give all the basics and all the cool trading web sites that you could spend a fortune on.

It is not sugar coated and you can’t do it in just a month it takes time after that month but it definitely speeds the process up a whole lot.

I take your point, mugen. There is hype and snakeoil in every area of trading. At some point, each individual must make a decision. You have to choose to dedicate yourself to learning to be a trader. We all need different tools and we all learn in different ways. There is no single path or answer.

For example, I have a close friend who began his career in finance around the same time I started working. It didn’t take too many annual bonus checks to see that the guys in trading were the ones raking it in year after year. He worked his way on to the trading desk, but it wasn’t what he expected. He walked away after less than a year. He just didn’t get it. And he was surrounded by ‘mentors’ all day long. He is a brilliant mathmatician, but at that time in his life he wasn’t ready to “see” trading. Long story short, ten years and a hundred different experiences later, he trades his own money for a living. Go figure.

10 pip installments! LOL! :smiley:

How about Amin Sadak’s The Affluent Desktop Currency Trader e-book?
Never read it before but I saw many good reviews…
Is there anyone who have read the e-book?