Forex Training: What to Look for in a Forex Training ProgramPosted by Nick Niesen on October 29th, 2010 Should new Forex traders take Forex trading courses or join a Forex training program? Definitely yes; by now you have probably heard that only 5% of traders achieve consistent profitable results when trading the Forex market. The main reason for this is the lack of education. Don?t get me wrong here, taking a Forex training program or a Forex trading course won?t guarantee profitable results, nothing can, but choosing the right Forex training program or Forex trading course will definitely put the odds in your favor. Before spending any amount of money on any Forex trading course or Forex training program there are some important aspects you need to take in consideration. There are many training programs available, but not every one of them suits the needs of every trader. The first thing you should be looking in a Forex training program is the content of the material. Unfortunately, most courses or training programs focus or spend most of the time on basic concepts. Though these basic concepts are important, spending most of the course on them won?t help the trader to make consistent results. The following subjects are what I consider the most important aspects of trading and every training program or trading course should address: Forex trading basics. Main drawbacks of Forex traders. Technical and fundamental analysis. The three pillars of Forex trading. I consider that these three subjects have the most impact on every trader trading account. Forex trading system development. Money management. Trading psychology. Other important aspects every training program should include are: Another important aspect you should take into consideration when choosing a Forex training program is the mechanics of it, getting to know how the training program works. A good course will have the following: A live conference room, where you can apply everything learned under live market conditions. One-on-one feedback, every trader has different needs and requires special attention. For instance a trader wanting to improve the system and requires individual feedback from the instructor about it. Online trading course, a course that could be accessible through internet. A plus is a course where you are able to access the course at the convenient time for you, so you don?t have to change your lifestyle. A forum, where members can talk just about everything related to the Forex market and the Forex training program. Trading the Forex market is no easy task. It requires a lot of hard work. Making the right decision will definitely put the odds in your favor. Take your time when doing your diligence because it is a big and important step in a trader?s trading career. Like it? Share it!More by this author |