Currency trading courses: how to select the right Forex course for you

Posted by Mords1944 on February 24th, 2020

There is a massive avalanche of Forex courses on the market today. And there are good reasons for it. Forex offers substantial advantages beyond the leverage of controlled investments in stocks and futures.

Let me explain ...

The 4 great benefits of currency trading

Reason 1: Market liquidity 24 hours.

The interbank currency market [Forex] is the most liquid and the most traded in the world. The daily volume is more than $ 1.5 trillion, more than 30 times the volume of the NYSE. Buyers and sellers make markets 24 hours a day creating a massive international market. The constant liquidity of this market allows currency traders to have the ability to enter and exit operations regardless of size or time of day.

Reason 2: Low transaction costs.

In general, currency trading has much lower commercial costs than stocks and futures. The over-the-counter nature of the forex market eliminates exchange rates and compensation. Costs are further reduced with the electronic market where it deals directly with the market maker, reducing ticket costs and intermediaries. Since the forex market operates 24 hours a day, you get competitive and tight spreads both day and night. Stock and future traders are more vulnerable to liquidity problems and gain broader trading margins, especially after hours.

Reason 3: Trend markets.

Currency trading pairs rarely spend a lot of time in tight trading ranges and tend to develop strong trends. More than 80% of the volume in Forex is speculative and, as a result, the market frequently exceeds and then corrects itself. A technically trained operator can easily identify new trends and breakdowns, giving you multiple opportunities to enter and exit positions.

Reason 4: Ability to trade in ascending or descending markets.

Unlike the stock market, there are no restrictions for short sales in the currency market. Since currency trading group is the simultaneous purchase of one currency and the sale of another, there is no structural bias in the market, such as the well-known bullish stock bias. This means that you can classify the market regardless of direction, creating opportunities in both bull and bear markets.

It all starts with education!

You must first train to succeed as a currency trader. There is so much interest in Forex that each seller has been appearing a Forex course with no experience in the subject. The disconcerting variety of different online courses is very dangerous for you.

If you are not properly trained, you will lose your savings, become frustrated, never trade again and it is very likely that you will leave behind this opportunity to trade Forex that could financially release you. This market can release you financially. In fact, a colleague of mine recently took over his house exchanging currencies.

But he could only do it because he first educated himself carefully. So, here is a list of things to do and what not to do when it comes to evaluating a Forex course.

DO'S to select a Forex currency trading course

First: plan to devote considerable time at the beginning to master your skills in Forex trading. The biggest mistake beginners make is not getting a good education. This includes mastering technical analyzes such as moving averages, Fibonacci numbers, Gann Fans, Elliot Waves, Stochastics and MACD.

It also includes learning the basics such as the Big Mac index, purchasing power parity, interest rate parity and balance of payments accounting between two countries in currency pairs.

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

Second: plan to make mistakes, especially at the beginning. Be sure to learn how to manage money, which is nothing more than keeping your operations small in relation to your total budget. There is much to learn to become a successful Forex trader, but you can do it quickly if you propose.

When evaluating a Forex course, make sure it teaches you how to manage money.