Forex Essentials: Course Support Thread

PFX is proud to announce that we have launched "Forex Essentials," a brand new course designed to introduce people to the forex in all its glory and nuance. Here’s a link to the course:

http://www.pfxglobal.com/index.php?o...k=view&id=2141

As an official Forex Factory partner, we will be using this thread to support those who have taken the course. Feel free to ask questions, give feedback, or suggest improvements – that’s what this thread is for!

I'm not a new trader, but I want to "endorse" this course, if that's worth anything I had a very tough road entering the forex a couple years ago, and there are so many lessons I had to learn the hard way.

The videos and examples you guys offer in the class answer so many of the questions I had, and offerd advice that I really wish I had heard before I started trading.

This is by far the best course to learn forex from. And I still can't believe it's free. I hope you don't plan to charge for it in the future.

By the way, guys: In the lesson about long-term versus short term trading you mention the challenges of "system" based trading. Do you still recommend the carry trade though? I know you guys have written about it in the past, but it is basically a rules-driven system, so I wondered if you recommend it to newbies or not.

Typically, when we are pushing back against systems it is primary short term (minutes, hours, few days) systems that we are opposed to. The issue is the inherent trading costs of frequently churning your account like that. It sounds fun and can actually be very entertaining but is very very difficult to do successfully. The reason we like the carry trade is because it is a system that is based on a strategic idea over the long term that negates the problems of spread and slippage. The other issue that we have with systems is when they sound too easy. In my experience, nothing in investing is "easy." I will say that it is extremely interesting and a lot of fun but it takes a lot of effort and discipline and many times systems are sold as easy, which is extremely misleading.

I agree. I started in this market after years in equities, and I used to get so angry at all the ads that talk about how easy it is to make ridiculous returns.

The forex is great, but it isn't a money-printing market. Thanks for your insights, John...or is it Wade?

Finished the course, and just have to say WOW!

The videos make your education by far the most complete and useful anywhere. I've taken most of the education or lessons from dealers and other sites, and nothing compares. This is the only one I've seen that actually can make someone prepared to begin trading.

And thanks for being the one group willing to tell people it's not easy and you can't make 100% returns in a month.

Also, the stuff on the Interbank market is great too!