Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

"Beginner" really need advice 49 replies

Thoughts of a beginner 74 replies

Beginner Questions 96 replies

As a beginner, which threads should I read first? 3 replies

beginner advice please 8 replies

Attachments: No One Should Ever Pay For A Beginner Course
Exit Attachments

No One Should Ever Pay For A Beginner Course

Quoting Saroman
{quote}..There're plenty of resources about trading available for free but it's up to individuals to decide. I have a friend who wanted to pay over 2,000 for forex trading course... and I told him that it was insane as if they were to teach you something out of this world then they wouldn't be sharing it with him but BANK HARD THEMSELVES.
Winners do have coaches, they just do. It's easier to have somebody guiding you. It saves time, energy and it just pays of. It doesn't matter whether you are beginner or not. The question rather is..you wanna make it as effectivelly as possible or do you wanna save couple bucks?
Yes, there's plenty of stuff and even great one for free..but it's not as much about the information itself, it's also about being able to apply it the way it suits the trader.
1) Do you know which stuff is the good one and which one isn't?
2) Can you actually effectivelly apply it?
3) Can you spot your strenghts and also your weaknesses and make the most of it?
4) Doing it on your own is possible, it's not for everyone and it's quite difficult even if you already learned the tricks and as a result..it's just not worth it. Paying somebody to guide you and to pinpoint stuff that you are somewhat aware of but can't really directly address it is worth it. It shortens the learning curve and as such saves you bunch of time, energy and money.

It's not about teaching a trader some secret technique, "everybody" knows what a trader should do and what he shouldn't do..but is majority of traders actually doing it? I don't think so. So then it's not about the information itself but applying it in effective way. That's what good coach helps you with.

I myself would exchange years of figuring it on my own for a course with quality course. Would save my bunch of time, all kinds of emotions, ups and downs and bunch of money. And I was one of those who just wants to save money.."I can learn it myself, right?!" ..Yep I can..but I learned I value my time more then money. Money can be created a new..but can you create time? I can't.. and so paying for a mentor is thus worth it more. And whether you a beginner or not doesn't matter. You wanna succeed or not? Do you wanna make it as effective and smooth as possible or not?
I trade to win/profit.
  • Post #62
  • Quote
  • Edited May 18, 2015 6:51am May 17, 2015 11:30pm | Edited May 18, 2015 6:51am
Hi,

I'm a rookie, a newbie, noob.

Three months ago, I didn't know anything about trading; I wanted to try, first two weeks I made 10% profit, next two weeks I made -30% profit.

I tried to use my sociological kwnowledge to apply some fundamental trading, but it didn't work.

Two months later I ran into an ad, I applied for the course, it took about a month, and I discovered hundred of things I didn't know, now I'm training in a demo account, and I'm getting some profit based on "trading real knowledge", I learnt technical analysis, I confess I did not know anything about it.

I feel comfortable right now, at least to train on a demo account, since I know more about the market after the course, than before.

So my opinion, my honest opinion is: if you know "nothing" about trading, a course will be the best help you can get about it.
A good strategy for trading is... the opposite of having a bad strategy.
I learnt trading by myself starting with a free course at babypips school and later on reading information on other forums and also in books. I don't really think either that it is necessary paying for a beginner course although you start from new, above all with all kind of info available on internet.
Quoting SPforex
I learnt trading by myself starting with a free course at babypips school and later on reading information on other forums and also in books. I don't really think either that it is necessary paying for a beginner course although you start from new, above all with all kind of info available on internet.
Maybe you're right (I really don't know), but a course saves a lot of time.

I'm not the lazy kind of person who likes to be taught everything, but I really did know nothing about it, so it saved a lot of time for me, and I appreciate it.

Moreover, they say they have some kind of "magical" indicator that will tell me where to SL and when to go long, since I didn't know anything about it, I bought it, it's not that bad to have some professional advise.
A good strategy for trading is... the opposite of having a bad strategy.
In fact that would be a good survey, like who paid for lessons, who didnt and what's the outcome!
Quoting Kotowskifx
In fact that would be a good survey, like who paid for lessons, who didnt and what's the outcome!
I didn't pay for lessons as such, but I found I was much more eager to learn properly when trading with real money so i started using a micro account trading with very low sums - max loss was never more than a few dollars. I now say that I was 'paying to learn' for me it was very effective and over two or three years it cost me a few hundred dollars. all of which I've now made back.
So I didn't pay for lessons but did pay to learn.
And I quite enjoyed doing it that way to.
Don't ask me, I have no idea what's going on.
Hi, Plukin

A great post. Traders in banks learn from professionals, have coaches, have their risk and performance analyzed on a continual basis. As a retail trader, you don't have any of those things at your disposal unless you buy them or are lucky to find them. How can a new retail trader hope to perform at an elite level? Because that is the level you have to achieve if you want to be consistently profitable.
As you point out, all elites in whatever area have coaches to keep them on track, improve performance. Well done to anyone who has achieved it on their own, you are in a tiny majority.
I went on one of the first trading courses in the early 80's when not many retailers were trading apart from buying and selling shares. That gave me a good start in options, remember we were trading with a pencil, paper and phone in those days. I have switched to forex now and would not go back to options.

However, I am still using a strategy I was using back then. It has stood the test of time with a few tweaks.

It is your choice, time or money - you will pay your dues.

MT



Quoting plukin
{quote} Winners do have coaches, they just do. It's easier to have somebody guiding you. It saves time, energy and it just pays of. It doesn't matter whether you are beginner or not. The question rather is..you wanna make it as effectivelly as possible or do you wanna save couple bucks? Yes, there's plenty of stuff and even great one for free..but it's not as much about the information itself, it's also about being able to apply it the way it suits the trader. 1) Do you know which stuff is the good one and which one isn't? 2) Can you actually effectivelly...
Hi, Gizzledonk

I agree with you, don't stay on demo for too long. Trading with a small accounts brings valuable experience.


MT

Quoting Gizzledonk
{quote} I didn't pay for lessons as such, but I found I was much more eager to learn properly when trading with real money so i started using a micro account trading with very low sums - max loss was never more than a few dollars. I now say that I was 'paying to learn' for me it was very effective and over two or three years it cost me a few hundred dollars. all of which I've now made back. So I didn't pay for lessons but did pay to learn. And I quite enjoyed doing it that way to.
Quoting mytrader1961
Hi, Gizzledonk I agree with you, don't stay on demo for too long. Trading with a small accounts brings valuable experience. MT {quote}
Sound advice
Quoting moonshot
The Aim of this thread is to help Rookies out there looking for quality free beginner courses get the best possible, and not to fall in the clutters of bogus paid courses. There are a lot of bogus courses out there. I am not so much concerned about the advanced trading courses, but rather the beginner courses. Some providers are charging for traders to take their beginner courses, and in my opinion, the only stage a trader should begin to contemplate about taking a paid course is at advanced levels. As for beginners, there is too much online available...
I both agree and don't agree with this.
Yes the beginner courses should be free but the reality is that there is so much free stuff out there that just simply is misleading, wrong or just bad in general.
The way I see it is that a person is paying the price for not having to sift trough all the bad stuff to find the gems or they're paying the price to not get misinformation or to be taught wrong.

Thanks for reading
AntiVi
A bold statement and very true.
In my area in UK there are beginner courses for £2,000 + ...Teaching you the basics half price on advanced course etc.

I have found a lot of useful information online and on this thread that I agree totally with your post and wouldn't even think about paying for a beginner course and I am a beginner by all means.
There is so much freely available information out there catering to the needs of total beginners that there really isn't any need to pay. One does have to make the effort to find said information though.
Quoting mlawson71
There is so much freely available information out there catering to the needs of total beginners that there really isn't any need to pay. One does have to make the effort to find said information though.
Agree, it just the matter of the person itself who are willing to looking for the knowledge itself from the internet.
Quoting mlawson71
There is so much freely available information out there catering to the needs of total beginners that there really isn't any need to pay. One does have to make the effort to find said information though.
A person with no education about a subject can't differentiate between misinformation and proper information on that subject. It's not just about finding the information and putting the effort into finding it. It's about finding the right information.
Quoting AntiVi
{quote} A person with no education about a subject can't differentiate between misinformation and proper information on that subject. It's not just about finding the information and putting the effort into finding it. It's about finding the right information.
You're right, of course. I should have mentioned that, it was an oversight on my part.
Quoting AntiVi
{quote} A person with no education about a subject can't differentiate between misinformation and proper information on that subject. It's not just about finding the information and putting the effort into finding it. It's about finding the right information.
Agree with this, and 'they' taking the advantages of it to get their own money.
Quoting gabanda
{quote} Agree with this, and 'they' taking the advantages of it to get their own money.
Trading is a business just as much as education. I don't blame them!
Quoting mlawson71
There is so much freely available information out there catering to the needs of total beginners that there really isn't any need to pay. One does have to make the effort to find said information though.
I thought that this thread was also about sharing more platforms and websites were good content is for newbies like me. So far, I see that babypips is the most recommended one. Is there any other websites that is as good as babypips?
Quoting ForexGump7
{quote} I thought that this thread was also about sharing more platforms and websites were good content is for newbies like me. So far, I see that babypips is the most recommended one. Is there any other websites that is as good as babypips?
Agree with this, because babypips provides you the fundamental things about forex trading itself. Tkae your time while learning it.
I'm reading two books at the minute, Naked Forex and Trading on 5 hours a day. Both good reads, different ideas though.
0 traders viewing now