There are many forex online training courses and mentorship programs available on the internet. Unfortunately, the forex market is swarming with 'sharks', waiting to devour the unwitting forex freshman!
Learning to trade forex takes time. There is no "quick fix", and If you are truly serious about forex online trading, then be prepared for a long haul. This doesn't mean that you can't make some money while learning to trade forex. Forex trading is a skill which you need to practice at to get really good at, and the good news is that you don't necessarily have to risk any "real" money until you feel confident enough - most Forex Brokers offer demo accounts for this purpose.
There are many forex online training courses out there which are truly excellent, and unfortunately, of course there are also many scams. Here's a few tips when looking for a forex online training course:
- Look for forex online training courses which offer a money-back guarantee. If you're not completely satisfied, you can at least get your money back!
- Search online for reviews (be careful, there are many review sites that are simply a mock-up of the sales page, just looking to make a buck out of you! Try to search in forums, or look through reputable review websites) How long have they been around? What is the general feeling you get from the reviews? Good or Bad?
- Search online for reviews and write-ups about the owner of the forex online training course. The same warning from point 2 applies. What's his/her experience? How long has he/she been trading forex? Did / does he / she trade forex for a living?
- Always have the attitude that if it sounds too good to be true, it probably is (unless they've got proof!) On the subject of proof, back-test results of a Metatrader Expert Advisor (for example) is not proof! Forward-testing on a live account, THAT'S proof!
- If you know absolutely nada about forex, and are totally fresh, grab our Forex Freshman's Handbook - Your Handy Beginner's Guide to Online Forex Trading, which is currently on offer for free. It covers a LOT of ground, and once you've studied it, you'll be better prepared and less easily impressed by sales pages which throw technical forex lingo at you just to make them look good! A copy of The Forex Freshman's Handbook is on it's way to you the minute you confirm your request. It covers a LOT of ground, and once you've studied it, you'll be better prepared and less easily impressed by sales pages which throw technical forex lingo at you just to make them look good!
As a last word of advice, when you're new to Forex, I highly recommend you hold off on starting with a live account immediately. Sign up for a demo account with your Broker first, which you can use to experiment with, or to use what you've learned in a practical way without blowing away your entire savings, or your kid's college tuition! Demo accounts are very similar to live accounts and use live market information, although you're working with "play" money. You'll quickly get a feel for what a real market enviroment would be like, utilising the skills you've just acquired from your forex online training course with no risk!
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