Currency Trading Courses - How to Select the Right Forex Course For You

There's a massive flood of Forex courses on the market today. And, there's good reason for it. Forex offers substantial advantages above and beyond leverage controlled investments in equities and futures.

Let me explain...

The Big 4 Benefits of Currency Trading

Reason 1: 24 Hour Market Liquidity.

The inter-bank foreign exchange [Forex] market is the most liquid and widely traded in the world. Daily volume is more than $1.5 trillion, over 30 times the volume of the NYSE. Buyers and sellers make markets 24-hours a day creating a massive international market. The consistent liquidity of this market lets currency traders have the ability to enter and exit trades no matter the size nor time of day.

Reason 2: Low Transaction Costs.

Overall, currency trading has much lower trading costs than equities and futures. The over-the-counter nature of the currency market eliminates exchange and clearing fees. Costs are lowered further by the electronic marketplace where you deal directly with the market maker cutting out ticket costs and middlemen. Since the currency market operates around the clock you get tight, competitive spreads both intraday and over-night. Equity [stock] and futures traders are more vulnerable to liquidity problems and get wider dealing spreads - especially after hours.

Reason 3: Trending Markets.

Currency trading pairs rarely spend much time in tight trading ranges and have the tendency to develop strong trends. Over 80% of the volume in Forex is speculative and as a result, the market frequently overshoots and then corrects itself. A technically trained trader can easily identify new trends and breakouts, which give you multiple opportunities to enter and exit positions.

Reason 4: Ability to Trade Either Up Or Down Markets.

Unlike the equity market, there's no restriction on short selling in the currency market. Since currency trading is simultaneous buying of one currency and selling of another, there's no structural bias to the market - like the well known bullish bias of equities. This means that you can sort the market regardless of direction, creating opportunities in both bullish up and bearish down markets.

It All Starts With Education!

You have to train yourself first to succeed as a currency trader. There's so much interest in Forex that every marketer has been popping up a Forex course with no experience in the subject. The bewildering array of different online courses is very dangerous for you.

If you aren't properly trained you'll lose your savings, get frustrated, never trade again, and very likely leave behind this opportunity to trade Forex that could free you financially. This market can free you financially. In fact a colleague of mine cashed out her home recently by Crypto Courses.   

But she was only able to do so because she carefully educated herself first. So, here's a run down of do's and don't when it comes to evaluating a Forex course.

The DO'S Of Selecting A Forex Currency Trading Course

First: Do plan on committing significant time in the beginning to master your skills in trading Forex. The biggest single mistake beginners make is not getting a good education. This includes mastering technical analysis like moving averages, Fibonacci numbers, Gann Fans, Elliot Waves, Stochastics, and the MACD.

It also includes learning the fundamentals like the Big Mac index, purchasing power parity, interest rate parity, and balance of payments accounting between two countries in currency pair.

When evaluating a Forex course make sure it teaches you both fundamental and technical analysis of the stock market.

Second: Do plan on making mistakes - particularly at the beginning. Make sure you learn money management - which is nothing more than keeping your trades small relative to your total bankroll. There's a lot to learn to become a successful Forex trader but you can do it quickly if you put your mind to it.

When evaluating a Forex course make sure it teaches you money management.

Third: Do plan on trading with the major trend. You should only be trading Forex for big money. Many traders get beaten down and end up trading for very small profits. Over the long haul they burn out and leave currency Forex trading forever. Forex currency trading is a way to take small amounts of money - like $5,000 - and turn it into big money - such as $3.35 million. Don't Forget This!

When evaluating a Forex course make sure it teaches you how to capitalize on really big moves.

The DONT'S Of Selecting A Forex Currency Trading Course

First: Don't ever enroll in a course that doesn't offer a very easy way to cancel and refund your money if you don't like the curriculum.

Second: Don't ever enroll in a course that doesn't give you at least an 8 week guarantee. Then make sure you study very hard for those 8 weeks to decide if the course is right for you.

Third:  Don't ever enroll in a course that uses trading robots. No robot can consistently chip a profit out of the market. Markets are a combination of order and chaos. There's just enough order to see clear trends and technical relationships. But it's always the background fundamentals that are driving the markets. That means that these markets have a combination of order and chaos to them. You tap into the order with technical analysis. But you deal with the chaos through fundamental education.