I haven’t actively traded in 1.5 years, but am looking at getting back into it. If I remember correctly, NickB ran the website. However, I checked back today and I saw that there was an “Advanced Course” that can be purchased. As far as I’m concerned, as soon as someone starts charging money for Forex Classes, it implies that they aren’t making enough money through their own trading. However, Forex4Noobs was the most reputable site after BabyPips, if I recall correctly. Any advice appreciated.
I have been a ‘member’ of his site for a couple of years - I have never purchased anything from him.
I enjoy his weekly emails - mostly s/r and possible reversal trades he intends to look at in the coming week- mostly uses 4 hr - shows good videos of his trades - even sometimes shows losing trades and why they went wrong - this I like.
Has never pressured me to buy his course.
Hi Rick, Obviously I cannot answer if forex4noobs is legit as it would be completely bias.
However, I want to explain a few things. I have always sold an advanced course. This is not something new.
I often hear the argument “If he makes money trading why would he sell courses”. Honestly, that argument is flawed. The bulk of my income comes through Forex trading but like anybody I like to earn extra income. Babypips earns extra income through advertising brokers, as does Forex Factory. I am sure you work a job and want to earn extra income from Forex…
I sell a course to people who want it. I never push people to buy, I never tell them that buying my course is the only way they will succeed. There is nothing wrong with charging a fair price for a good product. The problem is that so many scammers charge ridiculous prices for rubbish!
Anyway Rick I just wanted to say my piece, thanks for being a fan (or former fan) of forex4noobs.
peterma… thanks for your response, it is much appreciated!
I have been into the forums alot and I found nothing’s wrong with the site. And of course I would like to says that this is legitimate site.
I agree. In my opinion Nick’s site “Forex4Noobs” is legit. The education on the site is well worth reading and Nick has never tried any hard sell with me. I bought his Advanced Course and have enjoyed the content. The information in it is straight forward and not overly complex which suites me because I don’t think that trading needs to be made more complex. There is certainly value in seeing how Nick approaches his trading and understanding his methodology. The other value for me is access to the forum where members share their trade ideas and rational for entering the trade. Forex4Noobs is first and foremost an education site and for me it has provided useful content.
I usually open his Forex price action analysis mails, usually very similar to the one i draw, i didnt by his course but he seems to know what he is talking about
In the end you have to decide if it is legit or not. I never visited his site, but judging by responses left on this threat you have a choice to get e-mails for free and not required to purchase his course. I would start there, with the free e-mails and over some time you can build your own opinion.
It seems that you don’t want to pay for courses and that is what I would do too. In my opinion you are not going to learn a lot through any advanced or what ever course and become a successful trader when you finish it.
After reading this forum post I decided to check out Forex4Noobs for myself. I had seen it before but never really looked at any depth at the content, but have been leaning towards more price action orientation lately. I have to say I was pleasantly surprised at how well written and thought out the content is. I’ve traded fx on and (mostly) off for a few years. I really appreciated the well rounded approach and home truths. What he said makes quite a lot of sense to me… There is no hype, no promises of riches or anything like that. In the free material he doesn’t even mention his advanced course, and isn’t even selling it at the moment.
It all seems pretty legit to me.
Nick’s approach is simplistic, yet effective. You also must listen to his words as he “feels” this may be a good time or not to enter a trade. There is a connection on feel to a particular market one is watching…like watching a tv series, one becomes familiar to it.
I recommend his site as it gives us beginners an answer as to why price may reverse where it does. The rest is for us to study upon : ). School Time.
Tim
I don’t get why he doesn’t post real verified results though that he is indeed profitable. It’s such an easy thing to do.
It’s not always an easy thing to do. It’s easy for people on MT4 or cTrader to post results. However, I have not traded with those platforms in years. MT5 has some issues working with MyFxBook, and most institutional level platforms simply do not integrate with tracking software.
It’s just another sad case of the Forex industry being constantly 15 years behind in technology. I would guess that 50% of retail traders are using that crappy MT4 platform… 10 years old, outdated when it came out, and a dinosaur today.
And yes, someone will say “MT4 is updated regularly” but that means NOTHING, the core is 10 years old, so it sucks…
…Anyway, I am off topic.
The point I am trying to make is that it’s not easy for me to share verified results.
However, this year I have found a solution, and I am implementing it now. I have started to use crappy MT4 as a secondary platform in order to track results in MyFxBook. So by March next year I should have a years worth of verified results.
To be honest though, it’s going to be hard to keep up with it, as I need to manually mirror all my trades from my real platform to a MT4 platform.
It would be easier if I could share results from institutional platform, but I can’t… well I can, but I cannot prove that they are real as they could easily be faked… I mean they come as a html or pdf file which is easily edited. Then I would have people complaining that they have been edited.
It would be nice if Forex caught up to 2016 and we could get the bulk of retail traders using modern trading platforms. If we had that, then services like MyFxBook would also modernize and properly integrate with modern platforms.
Anyway, rant over, I am trying to get a verified MyFxBook with a small secondary MT4 account.
If you have any concerns about me as a trader, I completely understand. But the fact is I do not push my course on people. If you want to pay for my course and forum, you can. If you don’t, my site is 95% free, you can learn price action that way. It’s not as if paying for education is a must, I never did it, and I became consistently profitable.
And as always, there is a 60 day money back guarantee. Forex4noobs has been online nine years now, so it’s not like I have been denying people refunds for nine years and have managed to stay online, with a good reputation.
So I’ve been using Nick’s price action strategy for the past month and the results are, well they are really bad and that makes me question the method’s validity.
I don’t want bash Nick at all, but it’s just he says his strategy has 60-70% win rate and 2 or higher win to loss ratio. Dude that’s like a gold mine! Yea I might not be as good at the start, but damn I wouldn’t be expecting to lose big money trading it!
It’s not like Nick’s strategy is complicated and hard to follow properly, especially when his support resistance lines are public. And I just mirror them, not to mess up anything. ech…
That claim - [I][U]from a vendor[/U][/I] - didn’t ring major alarm bells, Mom?
We have wildly differing expectations.
I’d be pretty confident of it, myself, given the claim above.
Sorry if I sound cyncial/disillusioning, Mom, but I know you’ve tried several different methods over recent months, and I intend this observation only helpfully: it seems to me that your current approach is to try to find something that just “works”, and copy it, hoping to be able to trade profitably. The reasons this approach isn’t working out for you are good and valid ones, and they’re the same reasons it doesn’t work out for many of the thousands of people who try it (which is, of course, part of the reason why overall success-rates for aspiring forex traders are so very low).
A positive, constructive suggestion for you, Mom: you might find it very helpful to read these five books, which may well (between them) give you workable ideas for how to develop a trading method [I]of your own[/I], that suits you, how to research and test it, and how to trade it safely …
[I]Understanding Price Action: Practical Analysis of the 5-minute Time Frame[/I] - Bob Volman
[I]Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader [/I]- Al Brooks
[I]Naked Forex: High-Probability Techniques for Trading Without Indicators[/I] - Alex Nekritin & Walter Peters
[I]Profitability & Systematic Trading[/I] - Michael Harris
[I]Beyond Technical Analysis[/I] - Tushar S. Chande
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hmm interesting Lexys, thanks, I’ll check them out.
And are you saying Nick is just scamming us all and have been doing it for the last decade? Trading reversals from resistance supports zones makes sense to me, I had some successes doing it myself in the past alongside with continuations and trend following, but I might have been just lucky. Our core principle is pretty similar except his method is way more refined and with a “it works” tag on it. That appeals to me. Well but the cowabunga system had the same tag on it too…
Not at all, Mom … I have no first-hand knowledge of him, and wouldn’t cast such aspersions.
I’m speaking more of my perception of your whole approach and why I think you’re struggling so repeatedly. I’m really sorry if it comes across as criticism - that isn’t my intention at all: I intended it only helpfully, but sometimes struggle to express myself in the forum. :8:
Yes, it can - I don’t disagree.
At the time I did all the backtesting of it, I was also full of optimism for it, but I now appreciate why it isn’t viable.
If you’ve had some successes with trading reversals from recent S/R zones, why not look carefully at what worked and what didn’t work, doing that, and see if you can make something tradable by doing “more of what worked and less of what didn’t work”? But not looking for a 70% win-rate with a 2+ R:R ratio - that isn’t going to happen. You might find a way to do it with a 60-70% win-rate and equal R:R (1:1), though, and you can certainly make a living from that, if it’s soundly based and produces trading opportunities every day.
Among my own routine, daily trading, I trade quite a few “box breakouts” and those work on more or less the same general principle, so I know it’s a sound one, based on market realities.
It’s a very long way from that good and valid observation, however, to “producing a viable system with a steady edge” based on it.
My feeling is just that when you try to copy what someone else is doing, you’re missing out on all the stages that go into that “very long way” part of the equation, and that’s really stacking the deck against you. And when you’re involved in a field with such low overall success-rates as forex trading, stacking the deck against oneself is perhaps the very last thing one can afford to do?
Never mind.
I think he might be quite a good one, myself, if he’s scamming. Both for the reasons you mention above, which certainly give a different appearance from many, and particularly because in trading forums where he’s criticised, there’s usually a “brand new, first-time poster” along quite quickly, to defend him.
[I]
Always someone who has just registered at the forum specifically in order to be able to do that[/I].
Curious, how often that happens, and his reputation’s always defended publicly by someone completely unknown, making their very first post … an interesting and unusual reason for people to join a forum and make an unusually long initial post, you might think, yet it seems to happen remarkably frequently, in this specific case. 
Yea I find it very odd too, saw those fake looking testimonies on other forums as well. And that he spams ads on his youtube videos and claims to be making ridiculous amount of money from them (I’m a youtuber myself and I sorta know what could be expected)
Lol nothing gets past you lexys 