Recommend me a FOREX course

[Poshua]

Been planning with a friend to start a workshop or course understanding Forex and profiting from it.

As both of us are newbies, we would prefer a mentor approach.

We don't mind paying to shorten our learning curve.

 

[iCuteCube]

I don't understand why Singaporeans always think this way.

Do you really think you go for course, or go to school, means you will learn something? Learning Forex thru workshop or course is costly for the 'better one's'

What i recommend is, to start off with baby pips, it's free

http://www.babypips.com/school/

And also to borrow books from Library, i am not sure what are the "better one's" because i read more then 20 Forex books and learning and testing different indicators and time frame on a demo account before starting a live account.

You can open a demo account with Oanda for demo, it's FREE

If you sincerely want to earn from Forex, start off yourself by learning the basics and testing out some of the strategies the books teaches. What for waiting to spoon fed? Like going to course to learn more? Some of the Forex courses are good, but most of them are average, they may earn from Fx trading, but what they earn most is from teaching noobs/newbie.

 

[Darkzi0n]

but most of them are average, they may earn from Fx trading, but what they earn most is from teaching noobs/newbie.

Agreed. If dey are so good in fx dey wont need to teach to make money

 

[Poshua]

Thanks for your advice.

My way of learning is to get the action started while I learn. If I were given a book, I'll probably be asleep after a few pages. I like to learn from mistakes in a minimal risk way through a pragmatic and mentorship way.

I'm seeking advice here as there are too many Fx courses in Singapore which is hard to make a choice. That is why I posted in the public so they can share their experiences here, thus making an informed decision.

I'm sorry to say but I like to be spoon fed first before feeding myself.

 

[Agravaine]

To heck with the courses. Babypips is an excellent free primer.

You've been spoonfed the babypips website address, so go read it, and practice for yourself in a demo account.

 

[Forever84]

if u dun have a mentor then be prepared to learn the hard way.

 

[violinist]

Okay so anyone willing to be the mentor?

I'm looking for one too.

 

[ngailoon]

I don't understand why Singaporeans always think this way.

Do you really think you go for course, or go to school, means you will learn something? Learning Forex thru workshop or course is costly for the 'better one's'

What i recommend is, to start off with baby pips, it's free

http://www.babypips.com/school/

And also to borrow books from Library, i am not sure what are the "better one's" because i read more then 20 Forex books and learning and testing different indicators and time frame on a demo account before starting a live account.

You can open a demo account with Oanda for demo, it's FREE

If you sincerely want to earn from Forex, start off yourself by learning the basics and testing out some of the strategies the books teaches. What for waiting to spoon fed? Like going to course to learn more? Some of the Forex courses are good, but most of them are average, they may earn from Fx trading, but what they earn most is from teaching noobs/newbie.

Totally agree!

The exorbitant fees that those forex courses charge are much better served if used in servicing trading accounts. Even getting better computer equipment or a backup broadband connection is more worthwhile than those forex courses.

I think the lure of such courses is apparent when they put up online and print ads, which catch phrases like "lowest spreads", "earn 7700% in 3 months!", "quit your day job" etc. The fact is, the most successful AND consistently profitable traders are those who has spent a lot of screen time on the charts and knowing how the macroeconomic developments will affect the forex market. Plus the fact that these traders know how to control their emotions while trading (and not trading) and able to develop a set money/risk management rules that fit them.

It takes time, patience, practice and a few blown live accounts before you realize how this game is played.

 

[daryltan1988]

re

my 2 cents , if u want to go a forex course i rather u, get a new lappy, get a 52 inch projecter and find a chart and start looking at the charts , 12 hours a day for 2 months straight.

print out the news schedule from forex factory and paste it around your house, avoid news time.

u might want to stack up lots of popcorn , thats how boring trading is.

 

[fxgump]

You can only learn so much from courses. The more important thing is market experience.

 

[agenda]

I don't believe in the courses, Yeo Keong Hee offers courses and he has his own book on forex, at first I thought it was good until i realised no matter how hard i try, his methods don't work for me.

Babypips is a good place to start, one of the best authors I feel is Kathy Lien, her strategies were super effective with high success rate and so far i have managed to double my capital albeit a small one.

If you don't have the discipline to read through a book, you'll most probably lack the discipline to trade forex

 

[daryltan1988]

looks promising, may i know which book u read, will try to get;em

I don't believe in the courses, Yeo Keong Hee offers courses and he has his own book on forex, at first I thought it was good until i realised no matter how hard i try, his methods don't work for me.

Babypips is a good place to start, one of the best authors I feel is Kathy Lien, her strategies were super effective with high success rate and so far i have managed to double my capital albeit a small one.

If you don't have the discipline to read through a book, you'll most probably lack the discipline to trade forex

 

[civicguy]

Chris Lori is not bad (I have attended his course as well as a few others so I am in a position to comment).. he is pretty good..

Chris Lori

Having said that, a course only gets you somewhere (say 10% ?).. after that, the rest is still your own trading style, your own investigation, your own learning and your own market experience.

My buddy is the best example. He attended many courses just to keep his own knowledge fresh, but every day, he still spend a lot of time reading charts, reading up in forexfactory or buy many economics books to keep himself updated.. he is very hardworking and in fact, even more hardworking than when at work ..

His point ? "Work for people, I work so hard. Work for myself, must work even 100% more hard".

My own point ? "Trading is a journey. A course gets you a small start.. the rest is a long lonely journey... and there is no end point.. u always want to keep learning"..

If u hate learning new things, dun trade for a living..

just my 10cent opinion

 

[Poshua]

Thank you for all your valuable inputs, "pips".

Started my demo acct and on my lifelong journey.

 

[daryltan1988]

true, its a business , u need invest time not money

Chris Lori is not bad (I have attended his course as well as a few others so I am in a position to comment).. he is pretty good..

Chris Lori

Having said that, a course only gets you somewhere (say 10% ?).. after that, the rest is still your own trading style, your own investigation, your own learning and your own market experience.

My buddy is the best example. He attended many courses just to keep his own knowledge fresh, but every day, he still spend a lot of time reading charts, reading up in forexfactory or buy many economics books to keep himself updated.. he is very hardworking and in fact, even more hardworking than when at work ..

His point ? "Work for people, I work so hard. Work for myself, must work even 100% more hard".

My own point ? "Trading is a journey. A course gets you a small start.. the rest is a long lonely journey... and there is no end point.. u always want to keep learning"..

If u hate learning new things, dun trade for a living..

just my 10cent opinion

 

[icelemontea]

Contrary to popular belief. The real successful traders hardly spend time trading. As Warren buffet best put it "wall street makes money out of your activity, you make your money out of inactivity"
It is absolutely strange to majority of people that you can make money by doing less but that is the fact.
When looking for a forex course, please do not be attracted by profits and promises. Look for a course that will teach you to trade with the right mentality. Trading direction is more important than trading method. As those more experienced traders would know that times you would "discover" a new trading method that works...you get so excited about it only to find that in a few months time...the same method that is profiting for you is now causing you to lose and perhaps even more than you have made.

Look carefully, it's always the same. People thinking that they can beat or outsmart the market.

 

[daryltan1988]

The real successful traders hardly spend time trading. - i disagree , the only difference on the time is , long term trader , day trader , intraday trader and scalper . believe me , if u can scalp , u will excel better in long term trades, people who excel in long term trades might not be able to scalp.

Contrary to popular belief. The real successful traders hardly spend time trading. As Warren buffet best put it "wall street makes money out of your activity, you make your money out of inactivity"
It is absolutely strange to majority of people that you can make money by doing less but that is the fact.
When looking for a forex course, please do not be attracted by profits and promises. Look for a course that will teach you to trade with the right mentality. Trading direction is more important than trading method. As those more experienced traders would know that times you would "discover" a new trading method that works...you get so excited about it only to find that in a few months time...the same method that is profiting for you is now causing you to lose and perhaps even more than you have made.

Look carefully, it's always the same. People thinking that they can beat or outsmart the market.

 

[icelemontea]

everyone has their own way to how they can profit. however i am certain a scalper cannot be profitable in long term due to the fact that forex is a minus sum game, not a zero sum game.

take a look at the richest investors in the world...do they do short term trading? Short term trading is to lure small time traders who after profiting for a few months or even years think that they can continue to do so without increasing their risks.

 

[jesterkoh]

Contrary to popular belief. The real successful traders hardly spend time trading. As Warren buffet best put it "wall street makes money out of your activity, you make your money out of inactivity"
It is absolutely strange to majority of people that you can make money by doing less but that is the fact.
When looking for a forex course, please do not be attracted by profits and promises. Look for a course that will teach you to trade with the right mentality. Trading direction is more important than trading method. As those more experienced traders would know that times you would "discover" a new trading method that works...you get so excited about it only to find that in a few months time...the same method that is profiting for you is now causing you to lose and perhaps even more than you have made.

Look carefully, it's always the same. People thinking that they can beat or outsmart the market.

wall street makes money out of your activity, you make your money out of inactivity

nice!

 

[jesterkoh]

i have started coaching threadstarter and frens, hope they will make it eventually. here is a gift for everyone in this forum, take care and good trading!

learning curve for the successful trader

1. We accumulate information – buying books, going to seminars and researching.
2. We begin to trade with our ‘new’ knowledge.
3. We consistently ‘donate’ and then realize we may need more knowledge or information.
4. We accumulate more information.
5. We switch the markets we are currently following.
6. We go back into the market and trade with our ‘updated’ knowledge.
7. We get ‘beat up’ again and begin to lose some of our confidence.

Fear starts setting in.

8. We start to listen to ‘outside news’ and to other traders.
9. We go back into the market and continue to ‘donate’.
10. We switch markets again.
11. We search for more information.
12. We go back into the market and start to see a little progress.
13. We get ‘over-confident’ and the market humbles us.
14. We start to understand that trading successfully is going to take more time and more knowledge than we anticipated.

Most people will give up at this point, as they realize work is involved.

15. We get serious and start concentrating on learning a ‘real’ methodology.
16. We trade our methodology with some success, but realize that something is missing.
17. We begin to understand the need for having rules to apply our methodology.
18. We take a sabbatical from trading to develop and research our trading rules.
19. We start trading again, this time with rules and find some success, but over all we still hesitate when it comes time to execute.
20. We add, subtract and modify rules as we see a need to be more proficient with our rules.
21. We feel we are very close to crossing that threshold of successful trading.
22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.
23. We continue to trade and become more proficient with our methodology and our rules.
24. As we trade we still have a tendency to violate our rules and our results are still erratic.
25. We know we are close.
26. We go back and research our rules.
27. We build the confidence in our rules and go back into the market and trade.
28. Our trading results are getting better, but we are still hesitating in executing our rules.
29. We now see the importance of following our rules as we see the results of our trades when we don’t follow the rules.
30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear), and we begin to work on knowing ourselves better.
31. We continue to trade and the market teaches us more and more about ourselves.
32. We master our methodology and our trading rules.
33. We begin to consistently make money.
34. We get a little over-confident and the market humbles us.
35. We continue to learn our lessons.
36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size.
37. We are making more money than we ever dreamed possible.
38. We go on with our lives and accomplish many of the goals we had always dreamed of.