Anyone hoping to jump on the foreign exchange trading band wagon can quacking find themselves stressed out and losing money – especially if they don’t know what they are doing. Forex investing, whether that be in spot, options or futures, offers great potential for strong payouts. However, it is an extremely different environment than that of the equities market.
Even the most seasoned traders will do poorly in Forex if they treat both markets equally. Whereas the equities market involves the transfer of ownership, the currency market runs wholly on speculation. However, there are many options available to help traders stay ahead of the learning curve.
What options are available?
Most commonly, there are two main types of Forex trading courses available. They are:
1. Courses that allow investors to learn Forex trading online
2. Individual training with an experienced mentor
Web-based courses are often compared to the distance education courses that are available from colleges or universities. In this type of scenario, an instructor will deliver presentations, share eBooks, host trading simulations, etc. Traders advance through the courses until they reach advanced levels and become experts themselves.
For traders with limited Forex knowledge, this type of learning can be instrumental in helping them to meet their goals. Online training courses can range in cost from as little as $50USD to as much as several hundreds of dollars.
Individual training, on the other hand, is far more specific. For this reason it is advisable to course participants to have more than a basic level of Forex trading experience prior to starting. Participants will be assigned a mentor, most often a highly skilled trader, who will walk them through strategies and risk management practices, however, the breadth of the course instruction will be spent on teaching actual trade placement. The more costly of the two, individual training can cost upwards of $10,000USD.
What should be considered before course selection?
Regardless of the type of training a trader decides on, there are a number of factors that should be taken into consideration prior to registration.
1. Reputation of the Course, Institution or Instructor: A basic Google search will net hundreds of results for possible Forex trading courses. In order to trim the results, focus only on those courses that have sound reputations – both online and off.
2. Certification: The top trainers and course are certified through a regulatory authority or financial institution.