Do you really need Forex Training?
Forex Trading has grown tremendously in popularity over the past couple of years. Most people who learn about Forex Trading are instantly hooked.
For most, the instant attraction comes from the wrong perceptions about Forex Trading. Majority of beginner traders think Forex Trading is easy.
This is a blatant lie! This is something the scammers and fraudsters want people to believe.
The truth is that Forex Trading is an extremely challenging things to master.
The most professional traders will tell you that it takes lots of hard work and takes a lot of commitment to be successful in trading.
However, due to the false advertising people think they don’t need any training to trade in the FX Markets. They think all they need is to read a few articles on a website and they’re ready to make money in the FX market.
Sadly, this misconception has caused many beginner traders to lose a lot of money unnecessarily. This is where forex training comes in.
With the right Forex Training, a trader does not need to make costly mistakes.
Forex Training is an absolute essential for learning to trade successfully!
In this article, we will go over a few of the most crucial reasons why getting forex training is so important.
Reasons why some think they don’t need Forex Training
Let us first start by examining the reasons why some think they don’t need Forex Training.
The list of reasons why some choose not to get proper training might be very extensive. However, we have narrowed it down to three main reasons.
1. The first reason why some choose not to get Forex Training is due to Overconfidence
This group of people are under the impression that thinks Forex Trading is easy. They normally think Trading is easy enough for them to figure it out on their own.
Sometimes this group of traders normally know someone who claims to be a trader or someone who has traded before and think they can do it as well.
The inexperience of this group of traders normally means they run to any and every internet source they can find and try to educate themselves.
After they have surfed the internet for a few hours or days or weeks they think they know enough to trade on their own. These folks soon realise that there is a lot more to trading than just pressing the buy or sell button.
Once they have suffered a big loss of wiped out their trading accounts they realise that Trading is more complex than they thought…
Confidence is a great characteristic to have, as long as it is accompanied by the right amount of realism…
2. The Second reason why some choose not to get Forex Training is due to Pessimism
This is the group of traders who think that all Forex Trainers are fake. These traders will rather try and educate themselves by searching the internet for hours, days, weeks and months
This group normally bad mouth anybody that offers FX training. They always try hard to convince other people to stay away from Forex Training.
They can never understand why real traders would bother to teach other people how to train.
However, there is a very good reason why real forex traders give training.
Firstly, if you are good at something never do it for free.
The second reason is due to Capital. An average retail forex trader will probably be able to grow their trading account realistically by between 1% and 2% per month.
Even though that is good growth by industry standards, it is often not a lot of money in terms of most trading account sizes.
For that reason, successful traders always look for ways to grow their capital. The bigger the capital balance the higher the monetary value of the 2% per month will be.
Training others is a great way of boosting Capital. However, this is something the pessimists don’t understand.
3. The Third reason why some choose not to get Forex Training is due to Penny Pinching
This group of traders are quite amusing. They know that Forex Trading is too difficult to try on their own. However, they simply refuse to pay one cent towards a forex education.
These folks will often try to get trading help and tips from other traders in the hope of getting that secret formula they are looking for. Just as long as they don’t have to pay for it.
Traders like this like the idea of trading, but they are not willing to commit to it.
Some people are just unwilling to invest the time, effort and necessary funds it takes to be successful.
What most people in this group do not understand is that sometimes it takes money to make money. These people fail to realise that trading is just like any other career.
If you want to master something you will need to invest in education. They don’t realise that by investing in proper Forex Training they are investing in their own future.
This group normally loses a lot of money by listening to the wrong people and give up on trading after a while anyway.
Reasons why you should invest in Forex Training as soon as possible
Now that we have looked at the reasons why people don’t want to get training we can focus on the reasons why people should get FX training.
The trust is there are plenty of reasons why traders should invest in proper FX training. However, we have narrowed the list down to six very important reasons…
1. The First reason to invest in proper FX training is that there are lots of Scammers out there…
The Forex Industry is full of scammers. From fraudulent brokers to fraudulent traders and trainers. Social media is full of them.
Sometimes this is also a reason why people don’t want to invest in Forex Training. However, people don’t need to be afraid of the scammers because you can see them from a mile away.
Anyone that tries to tell you trading is easy is lying to you! Someone that tries to sell you trading signals, trading robots or forex training that promises to make you rich should not be trusted!
Just think about that for a second.
If something sounds too good to be true then it probably is…Forex Trading can be simple, but it will never be easy!
For the most part, all the scammers in the Forex industry will tell you things that are too good to be true. They’ll promise you the world. Some go so far to promise you unlimited wealth.
Normally, the price tags for the training offered by these scammers are even bigger than their false promises.
Some scammers even use elaborate free seminars presented by so-called successful traders. These so-called traders normally brag about the size of their trading accounts and their lavish lifestyles.
If you look closely and use a little common sense it should be clear that people don’t have to fall for these lies. Most of the victims who get cheated by these scammers could have avoided losing their money.
They just needed to look more closely to what these scammers were really offering them.
Always remember, when things seem too good to be true, then it probably is.
Beginner traders don’t need to let fear for scams keep them away from getting proper forex education. A little common sense would keep most people away from the scammers.
2. The Second reason to invest in proper FX training is that free info is not enough
There are many free sources and resources available on the internet that will help you to grow substantially in your trading knowledge.
However, obtaining knowledge will not necessarily show you how, and more importantly teach you when, to apply it.
The nature of Trading makes it very difficult for someone to learn how to trade on their own.
Especially if the only knowledge they have were obtained via fee sources. There are a few people who achieve success by only relying on teaching themselves. However, these people are the exception and not the rule.
Reading something in an article will not be enough. The market is too complex and complicated to navigate it with free stuff you found on youtube.
Just think about it for a second. If all the info you need to trade successfully was available on Youtube why would investment banks spend billions of dollars educating their traders?
It just doesn’t make sense. Free info is great, but it won’t make you a successful trader.
3. The Third reason to invest in proper FX training is that trading is a game of SKILL
There is a big difference between information and skills…
Imagine that you know someone who has never ridden a bike before. Would they learn how to ride a bike if we gave them twenty books of riding bikes?
Of course not! The only way they will learn to ride the bike is by ACTUALLY riding the bike. This is where SkILL becomes so important.
Trading involves many skills.
Successful traders has accumulated the necessary skills required to navigate the markets.
Listening to another Youtube video will not make you a better trader. Reading another article will not make you a better trader.
Practising your skillset will make you a better trader. This is where proper FX training will help tremendously.
Another trader cannot implant the skills you need. However, seeing how it is done by others will help you grow the correct skills from the start.
Trying to throw together a bunch of stuff from various Youtube videos does not build the correct type of skills required for trading.
4. The Fourth reason to invest in proper FX training is that it cuts your Learning Curve
We already saw from above that trading is a game of skill. Thus, the first step is to make sure that you are learning the correct type of trading skills.
After this, you will need to consider the amount of time it will take you to learn the right skills in the right way.
This is another benefit of FX training. Proper FX training will not only give you the right skills but also reduce the time it takes you to learn it.
This does NOT mean that FX training will make you a better, it only means it will help you to learn faster.
This is a very important distinction to make. No training will make you a better trader if you don’t put in the time and dedication to master your trading skills.
Simply put, training can help you to learn the right things at the right time so that you don’t waste time unnecessarily.
However, you will have to do your own push-ups so to speak.
5. The Fifth reason to invest in proper FX training is that indicators and trading robots are not good enough
This is a very important one and we urge you to pay attention.
There is no such thing as a perfect trading system. There is no such thing as a perfect Indicator. Similarly, there is no such thing as a perfect trading robot.
Trading successfully does not have anything to do with trading systems or indicators or robots. These things are just extra tools you can use in your trading.
A lot of beginner traders think the answer to trading success is to simply download another secret indicator or robot they don’t know about.
This is a big mistake and often times one of the reasons why so many retail traders never succeed in trading.
The market is just too intricate and complex for any indicator or group of indicators to trade it successfully. There is no shortcuts.
The best indicator you can use is your BRAIN. That is the only indicator you need.
6. The sixth reason to invest in proper FX training is that purely technical strategies is not enough
There are thousands upon thousands of free technical analysis strategies available on the internet.
Some of them are free and others are ridiculously expensive. Majority of traders only rely on Technical analysis methods.
We find this very interesting as the majority of traders are not profitable…think about that for a second.
Can it be possible that one of the reasons why so many traders fail is because they only rely on Technical Analysis?
We sure think so. The fundamental reasons WHY the market is moving is much more important than any Technical strategy.
Some of the best bank traders in the world only focuses on the Fundamentals.
Even the simplest Technical strategy can be traded profitably if you first use the Fundamentals to find the highest probability trades.
The market is not moved by candlesticks on price charts, the market is moved by actual traders with actual emotions placing actual orders.
Understanding the Fundamentals will help you to establish WHY the market is moving.
Unfortunately, the type of Fundamental analysis skills required to trade the market successfully is not available for free on the internet…
At least not the ones that really work. This is why learning the Fundamentals from actual traders is so important.
Make up your own mind
At the end of the day, everyone needs to make up their own mind about FX training. It is important to realise that trading is not a get rich quick scheme, but rather a long term investment.
Success in trading does not come easy. It takes a lot of time, hard work and commitment to reach a point of trading consistently profitable.
If someone is really serious about making a success out of any career they need to be willing to invest in themselves through training and education.
This does not mean that all the FX training available on the internet is reliable. Some of it is absolute scams and worthless so be careful who you choose to train with.
If trading is not something that you are willing to invest in then trading is probably not for you…
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