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Hey All!
Through my experience of blogging, I have met some good friend and traders along the way. One of them is Casey Stubbs, who runs Winners Edge Trading. He has kindly asked me to do a guest post for his blog and here it is.
Forex Education: Learn to Pay or Pay to Learn?
As usual, feel free to post your comments if any!
Happy Trading,
Leo
DISCLAIMER
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. ForexAndLife.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
24 comments:
I totally agree with the notion that one should pay for for a good trading course before plunging into the market with real money.
The psychological damage caused from 'playing' the market blindly can be severe and last a lifetime. More importantly, such damage can in fact cause traders to 'self-sabotage' even after they've learned how to trade properly.
Yes, I agree with your assessment.
However, some people also have difficulty with the issue of where to go even IF they are willing to pay for education.
Well Leo that's where you come in. If you have the patience to sit and teach then those who go to you are lucky. Personally, I try not to teach anymore since my time is limited due to both trading and other business commitments. However, being in a position to teach was very fulfiling and enjoyable although not nearly as lucrative as actual trading.
Great Blog Leo, keep it up! (I ashamed that I've not updated my Blog since Nov '09!).
Thank you for the faith and trust in my ability to teach. A couple of people have asked about learning and I will be sharing with them basics about forex to make sure they have a good understanding of the markets before they start trading. Just my small way of passing it on I guess.
As for the blog, I just started writing and grew to love it and became more committed to it over time. I have met some really great people through this blog.
Regarding not updating your blog, if you don't feel like updating it, you're more than welcome to come over here to post when you feel like it. I would be more than happy to share your input with my fellow readers.
I believe in paying to learning first, because it may eliminate, or rather reduce any impulsive behavior which may be costly, as wad tradefox has mentioned - psychological damage that last a life time.
although paying for course first give u better insights before u embark LIVE, i would say that some trading experiences money can't buy.
ultimately, one may still go thru the process of learning to pay. juz my opinion :)
and great blog, keep it going!
I totally agree with the psychological damage part. In fact, I do know quite a number of people who have tried their hands on trading, lost quite a bit of money and now stay away from the markets. And the best (or worst?) part is, they took on trading without really learning how to trade! I wonder if they will do the same thing when it comes to flying a plane...
RE: "there are lots of trading experiences money can't buy", depending on how you look at it, a margin call is an experience bought with money right? :) And yes, though you have gone through some form of training/education, there are still things that you need to experience first hand i.e. market movements, result of being indisciplined etc.
I believe that no matter what, a beginning trader has to pay his/her dues to the market. What paying to learn does is it helps you gain more control over the extent of your learning to pay experience.
Thanks for your comments. I truly appreciate it!
u can never learn how to make an omelette without breaking a few eggs... besides trading is like an art - it takes practise.. something classroom training won't be able to provide...
Great post! Demo accounts in my opinion are very important, especially for forex beginners that has no experience in foreign trade market. It is very important to Learn Forex , and of course to practice with demo account. This way you can study the field and to practice trading without losing money - and then when you real trade at forex market you can enjoy from earnings. good luck
Interesting article. If you're just starting to practice forex trading, make sure you consider training first. There are a lot of ways to learn forex. You won't lose money if you are knowledgeable about forex trading.
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Informative post on forex lessons. Budding forex traders needs alot of reference in terms of looking ahead in this field of business.
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You won't be able to cope with forex at first, especially if you don't have knowledge about it. So I suggest you train and learn from the experts.
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Love the article. This is perfect for starters. My favorite line would have to be. "the road to successful trading requires an investment combination of money, time and effort. Make sure you allocate time and budget to Pay to Learn or you’ll sure be Learning to Pay."
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Trading courses has become a very popular asset class to trade. Trading course you’ll be in a position to make great trades. These stock trading courses are simple to understand & even easier to put into practice. Thanks a lot.
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I agree with you one should do proper training & learn the basic of Forex before trading, as without proper training one can suffer from loss.
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