Be Careful of These Words When Looking to Learn About Forex, Best Forex Trading Course

Nearly every serious wannabe Forex trader at some point decides to get a solid education in Forex trading and begins to look for the best Forex trading course. What makes a Forex trading course, the best, or just good? Further, How much should it cost?

Having spent more time in the last 5 years than anyone I know has spent on two PhDs, learning Forex and researching the field, I think I can speak somewhat expertly on what it takes to produce a top notch Forex trading education and course. I think I can say that it can't be learned at a weekend seminar, nor can it be learned in week long seminar. It cannot be taught by a guru that charges $10,000 for 3 days of your time in a very nice resort and mostly it cannot and is not taught by simply expounding on the all of the techniques that exist to trade but do not work.

Let me explain each of those briefly here. Nothing as complex as Forex nor as competitive nor as difficult could be taught in a weekend. The people teaching such a seminar aren't smart enough and less than 1% of 1% of 1% (maybe less) would be smart enough to learn it and if they were, they wouldn't be there anyway. The same can be said for the multi-thousand dollar week long seminars and the same can be said for the Get-Away weekends with the author of a book or specific trading method. If those people had a secret, they wouldn't give it away and if they were excellent traders, it is highly unlikely they could impart their knowledge to you in a short period of time.

What makes a really good Forex trading course? The place to start is with yourself. What do you know about trading? What do you know about economics? What do you know about foreign exchange and currencies and the countries involved? A self analysis would certainly be in order and this would be the starting point. If I went to Ben Hogan and he was willing to spend time with me, which as many know, he would not, he would immediately access my ability. He would want to know what I knew and where I was in my physical ability.

If you are completely new to Forex you will need more basic training then someone else. If you do not understand how money works in the economy, then you will need to learn this as well. In other words, learning to trade Forex is not as simple as taking a course from an institute that bills itself as a teaching center. Most are taught be people who are taught about Forex like McDonald's teaches its employees how to make French fries; out of manual. So if you are going to learn how to do something from someone who has read a book and is only one step ahead of you, then why not read two books and get ahead of them.

To be successful in Forex, this is the way you will need to think and it will be the way you need to act. You will need to think forward. The best Forex trading courses will be constructed by you.

Forex Trading - These Traders Had No Experience But in 14 Days Became Super Traders - How?

Imagine having no experience of forex trading, being trained for 14 days and you then went on to make millions - sounds far fetched? Well, it happened in the 1980s in one of the most famous trading experiments of all time which is enclosed and should become part of your essential forex education.

In the nineteen eighties, trading legend Richard Dennis wanted to prove a point and the point was simple:

It doesn't matter what you do, how intelligent you are, if your young, old male or female, you can become a successful trader, if you have the right mindset and a willingness to learn.

He set out to prove his point.

He gathered a group of people who met the above criteria and they included:

An actor, a security guard, a kid fresh from school and a female auditor - diverse they were but they were all about to get a trading education.

In 14 days, Dennis taught them to trade and set them up with live accounts and they went on to make hundreds of millions of dollars and go down in trading history.

This group was nicknamed "the turtles" and proved Dennis right - anyone could learn to trade with the right education and the right attitude.

That's interesting you may say... but 95% of traders lose, so how come this group was so successful?

The answer lies in the way they learned.

They learned a simple long term trend following trading system (essentially a breakout system) and it was so simple anyone could understand it. It's a fact also, that simple trading systems always work best, because they have fewer elements to break than complicated ones.

Now Dennis didn't just say off you go and trade - he rammed home why it worked, gave strict money management rules and made sure they would be prepared to trade it with discipline, to achieve success.

The above is the important part.

Learning a trading system is not enough, you need to execute it with discipline and take loss after short term loss, without quitting and then profits follow. You need to take losses to win and stay on course.

To trade you need to follow your system with discipline and you need confidence to do this. He taught them to stand on their own two feet and appreciate - learning a trading system is easy - executing it with discipline is the hard bit.

You can learn from someone else - but you have to make the system work for you!

Most traders can't do this, they like to ask experts, trade worthless robots with simulated track records, or believe drawdowns don't last and trading is easy and they all lose.

Trading is all about having the mindset to succeed and to execute a plan. Most traders are to lazy or naïve to do this and most think forex trading is easy. Well, when big money is on the line and to be earned - it's not easy. However, there is a big difference between something being easy and something being achievable.

Sure you might not become as successful as the above group life simply isn't like that but the opportunity is there - they did it you could to.

Even if you don't achieve such great success, you can find success which more than makes up for the effort you have to put into your forex trading.

Sure forex trading is not a walk in the park, it's a challenge but accept it - work hard, have the mindset to succeed and you can find success - it's up to you.