Paid forex training - do you need it?
Even now, in an era when all polls are looking for freebies, they sometimes ask me: “Well, we have a Horns and Hoofs office in our city, they offer paid forex training. Is it worth it to go? ”If you ask such a question on any forum, then the screams“ Scam! ”,“ Wiring harder! ”, Etc. will immediately fall in response. is it so bad?
First of all, in the head of a person who is interested in Forex training, the reasonable question arises: “if you (the teacher) are so smart, why do you earn with courses, and not with trading?”. This question can arise only with superficial thinking, without going deeper into the essence of the question. Before making any conclusions, it is worth dividing the offered services for training in trade into 2 categories:
- 1) Super-duper methodology 1000% per month
- 2) Theoretical aspects
Superfood Technique 1000% per month
If you see somewhere an announcement that for a certain amount of money you will be taught a super-profitable trading technique or even call specific amounts ("You will earn $ 200 a day !!"), then you can be 100% sure - This is an ordinary scam. They also sometimes offer personal training services, they say a person will sit next to you and help to trade - this also does not lead to anything good, only lose money. Such suggestions should be avoided.
It is much more profitable for a person who knows how to make money on Forex to create an investment fund or open the same pamm account, for example, or sell trading signals. This is a much less energy-consuming and more profitable way to earn extra money than paid tuition.
In the case of teaching various bases, the theory and practice of Forex trading, when you are offered information on the basics, everything is much more prosaic and down to earth. What do I mean by theoretical aspects: the history of the exchange, information about trends, graphical analysis, trading by indicators, their internal structure (formulas), how to open / close orders, etc. This information is from textbooks, which will not change much on how good a teacher is in trading.
After all, a mathematics teacher at school does not have to be a laureate of the Millennium Prize (as Comrade Perelman), and a music teacher does not need to have several Grammys in a prominent place in the closet to teach children their subjects. Also with forex. An employee of DC “Horns and Hooves” may have experience trading for a week on a demo account, but he will tell you the basics of trading from textbooks without any problems. Because this information is constant, like mathematical formulas, and does not depend on personal interpretation.
Most forex offices offer intramural courses for beginners for a small fee - usually 5-6 thousand rubles. Despite the fact that these are the very basics and their knowledge is necessary, but will not make you a super trader, I would still advise you to pay and undergo full-time training for beginners. Many will ask, “Why? After all, you can download some kind of video course for free ... ".
There are several reasons:
- Listening to a living person, you are more careful
- You try to remember information better, take it more strictly: write down, ask again, etc. Why? Because you paid money and subconsciously strive to get the “product” for which you paid, that is, knowledge.
- You have the opportunity to ask to explain many points in more detail, "for fools." This can be very helpful, especially at the beginning.
- Most courses have a practical part where they will teach you “where to click” to open / close orders.
There are also theoretical courses for more experienced traders. For example, recently I saw somewhere a full-time advertisement on trading the Ichimoku indicator. Again, the formula of the indicator will not change on how successful the teacher is in trading, but in live communication, they will “chew” you thoroughly.
In the case of courses in theory, it is quite possible to pay for tuition, but do not think that after that you will become Soros. This is information, but how you will or will not apply it is the key to success.