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Which FX Trading Course/System is Good for newbies?

Quoting merlin
FireD...its good you are reading the forums, but i promise you that you will learn 10 times more from books. Forums have bits and pieces of info...some good, some bad. but when you read books you really start to fully understand the more complex ideas. i read the forums a ton, but i could never decipher the good info from the bad info had i not read a pile of books first. if you are not a big book reader, you should at least read one of the Market Wizards books and Van Tharps book. once you read these books, you will understand why i always encourage traders to read them ...
Merlin, I totaly agree with you there...since i have read the Market Wizards and Van Tharps book (TYWTFF), i can now decide what info on the net is worth reading and whats not.
Have you read other Tharps books? Are they worth reading/buying?

Thanks Merlin
havent checked out any of Tharps other books. there is only so much you can learn from one guy

let me know if you find otherwise...
Relax and be happy.
Quoting merlin
FireD...its good you are reading the forums, but i promise you that you will learn 10 times more from books. Forums have bits and pieces of info...some good, some bad. but when you read books you really start to fully understand the more complex ideas. i read the forums a ton, but i could never decipher the good info from the bad info had i not read a pile of books first. if you are not a big book reader, you should at least read one of the Market Wizards books and Van Tharps book. once you read these books, you will understand why i always encourage traders to read them ...
Every time you mentioned Van Tharp, make me want to buy the book more.
I will work a way to find this book in my local book store. I see he has several book about forex in amazon.com .Make me more exciting.
Hi,

Have a look at http://currency.fxtrainer.biz
Learning the fundamentals and having good support is key. Also being able to make money trading curency and also building a business is a bonus.

Warren

Quoting alextmj
Hi Everybody

I'm very new in FX trading, could someone advise which course/system is better - Beau Diamond's 5Minute FOREX or Peter Bain's Pivot Point or any other courses/system??

I really don't wish to learn, then unlearn, learn again....till the end.....still confuse & losing money.

Cheers!!!
Forex-Advisor at http://www.forex-advisor.com

I have had a great experience with them.. Able to chat and phone Rick Smith about trading. He is an upstanding/outstanding guy. Someone you would want to have a beer with.

They have a 2 week trial for only $ 20 . They trade real time.. and you can follow along with them , watching, on paper, or real from your own account.
You can chat with Rick as things happen, asking questions etc.

Their trial experience trades the European and US opening... and news announcements. You also get the use of the forex signal from G7 Forex.
They are extremely capital preservation conscious.

They also have couse offerings as well as one hour/one to one consultations on a list of topics or a topic of your choice. I think the current hourly price is $ 95 with subsequent hours on a reduced scale.

This is like finding out you have a valuable piece on the "Antiques Road Show"
that you only paid 20 bucks for.

I dont have any connection with Rick except that we had a great talk on the phone about similar experiences.. and that we both hail from Minnesota... he later moved to Arizona where his Forex company got started. But if you do check things out ... please mention the Forex Factory Forum and me.

Thanks.

Oh, I am up over 250 pips by Trading with the Trader.

LOU
Quoting merlin
FireD...its good you are reading the forums, but i promise you that you will learn 10 times more from books. Forums have bits and pieces of info...some good, some bad. but when you read books you really start to fully understand the more complex ideas. i read the forums a ton, but i could never decipher the good info from the bad info had i not read a pile of books first. if you are not a big book reader, you should at least read one of the Market Wizards books and Van Tharps book. once you read these books, you will understand why i always encourage traders to read them ...
Can you please link us to the specific books you read and encourage traders to read them (first books I read) in www.amazon.com
or something like that?

I just getting many resualts.

Regards.
Regards, Ido
Quoting merlin
thats because Forex is the wild west of trading...and there are alot of bad guys out there!
Dear Merlin,

Can you please explain to us beginners why you refer to the Forex as the Wild West of trading?
Beau Diamond's 5Minute FOREX has given me a great headstart in Forex trading and Beau has ALWAYS answer my questions by email to get me going.
Quoting idobrickner
Can you please link us to the specific books you read and encourage traders to read them (first books I read) in www.amazon.com
or something like that?

I just getting many resualts.

Regards.

Merlin plz, can u answer this thread. I'm also wondering what would be at least 3 specific books to read First. Oh and one more thing, I looked at table of Contents market wizards. I didn't know that book had nothing to do with Forex. So why does everyone recommend it? again plz refer to at least 3 very first specific books to get someone that doesn't know much about Forex basics to read.

thanks,
Quoting ginx10k
Merlin plz, can u answer this thread. I'm also wondering what would be at least 3 specific books to read First. Oh and one more thing, I looked at table of Contents market wizards. I didn't know that book had nothing to do with Forex. So why does everyone recommend it? again plz refer to at least 3 very first specific books to get someone that doesn't know much about Forex basics to read.

thanks,
It doesn't matter if you're trading Microsoft stock, pork bellies, the S&P or foreign currencies, it's all basically the same. I would reccommend "Technical Analysis of the Futures Markets" by John Murphy as it covers every aspect of using technical analysis to trade, and it can be applied to any market. Also, most brokers have beginner courses about how to trade forex, with all the terms and basics of how the Forex market works.
Quoting Jetheat
Merlin, I hope you don't mind this shameless plug. It's a one off.
Thanks
Frankly Merlin may not mind it but I do. I contribute to this forum and I don't use it for commercial purposes though I would probably benefit nicely if I did what you are doing.

I've noticed you keep a thread where you contribute technical information and because of that I've never said anything. I've also noticed that you post a link in your posts to your web site. Another entitlement you seem to have received without too much complaint.

However I think you have now gone too far. I don't appreciate you spamming other threads with your promotion and I don't see the point in supporting a forum that entitles some to personal promotion and others not. Merlin extended a privilege to you that nobody else has ever been permitted on this site and I think you are abusing it.

FT
Quoting fijitrader
Frankly Merlin may not mind it but I do. I contribute to this forum and I don't use it for commercial purposes though I would probably benefit nicely if I did what you are doing.

I've noticed you keep a thread where you contribute technical information and because of that I've never said anything. I've also noticed that you post a link in your posts to your web site. Another entitlement you seem to have received without too much complaint.

However I think you have now gone too far. I don't appreciate you spamming other threads with your promotion and I don't see the point in supporting a forum that entitles some to personal promotion and others not. Merlin extended a privilege to you that nobody else has ever been permitted on this site and I think you are abusing it.

FT
i have to agree with this also. i also could benefit nicely with all that i have contributed to this forum. i dont think you mean any harm but i think fiji is right. what i wish you would do is go over to my chart thread and contribute there for free. maybe you could enhance your own trading and possibly enhance mine and others with some free contributions. jim
Quoting fijitrader
Merlin extended a privilege to you that nobody else has ever been permitted on this site and I think you are abusing it.
your right fiji, the post is deleted. you know the old saying "give them an inch and they take a mile"? LOL

jet, i know you are a good guy and so do the other. but lets draw the line with your illegal "linked" signature . thanks buddy.
Relax and be happy.
Quoting ginx10k
Merlin plz, can u answer this thread. I'm also wondering what would be at least 3 specific books to read First. Oh and one more thing, I looked at table of Contents market wizards. I didn't know that book had nothing to do with Forex. So why does everyone recommend it? again plz refer to at least 3 very first specific books to get someone that doesn't know much about Forex basics to read.

thanks,
there are only a few guys in market wizards that trade forex. but that doesnt matter. trading is trading is trading.

for a good start i would read one market wizard books, reminiscences of a stock operator, and Van Tharp's TYWTFF...

http://www.amazon.com/exec/obidos/tg...books&n=507846

http://www.amazon.com/exec/obidos/tg...books&n=507846

http://www.amazon.com/exec/obidos/tg...books&n=507846

http://www.amazon.com/exec/obidos/tg...12919?v=glance

these books will teach you the basics of trading. if you want to learn more of the details of the forex market specifically, try Luca's book...

http://www.amazon.com/exec/obidos/tg...books&n=507846
Relax and be happy.
Quoting merlin
there are only a few guys in market wizards that trade forex. but that doesnt matter. trading is trading is trading.

for a good start i would read one market wizard books, reminiscences of a stock operator, and Van Tharp's TYWTFF...

http://www.amazon.com/exec/obidos/tg...books&n=507846

http://www.amazon.com/exec/obidos/tg...books&n=507846

http://www.amazon.com/exec/obidos/tg...books&n=507846

http://www.amazon.com/exec/obidos/tg...12919?v=glance

these books will teach you the basics of trading. if you want to learn more of the details of the forex market specifically, try Luca's book...

http://www.amazon.com/exec/obidos/tg...books&n=507846
thanks so much, this is all I wanted to finally just get some direction. thanks again mr magic.
Quoting alextmj
Hi Everybody

I'm very new in FX trading, could someone advise which course/system is better - Beau Diamond's 5Minute FOREX or Peter Bain's Pivot Point or any other courses/system??

I really don't wish to learn, then unlearn, learn again....till the end.....still confuse & losing money.

Cheers!!!
I'm doing Peter Bain's course. Found it rather light and not particularly rigorous. Of use if you know nothing about Forex (as I did) but probably not otherwise. There almost no mention of backtesting and Peter often promotes some member's new idea enthusiastically.

The worse thing about PB's course is where examples are given (seemingly often) which contradict what the course teaches, or simply defy common trading sense. The course CDs/DVDs are not particularly professionally done. The hard copy manual is worth having.

The sad thing is that Bain's course is probably one of the better FOREX courses - a fair bit of work must be put into the daily reviews etc. There is almost daily feedback from the team and examples from members. It doesn't say much for the industry though.

Just my 2 cents...

TJ
Darkness lies one inch ahead..
I have used the Peter Bain materials and found them to be very good. THe basic system he imployes is easy simple enough to be applied and understood and effective. He othten fleshes out his basic principle with other concepts in his AM review sessions - based in other traders feedback.

Sorry no experience of Beau Diamond's system

Quoting alextmj
Hi Everybody

I'm very new in FX trading, could someone advise which course/system is better - Beau Diamond's 5Minute FOREX or Peter Bain's Pivot Point or any other courses/system??

I really don't wish to learn, then unlearn, learn again....till the end.....still confuse & losing money.

Cheers!!!
Alex,

This is my fifth month of trading and I am starting to suck noticably less than I did even 1 month ago. I'm almost completely out of the red and moving into profitable territory. I think each single trader is required to read multiple authors in order to develop his/her own style that can be successful. I believe that there are successful types of traders in all styles---e.g. technical vs. fundamentals or combo. length of time in trade, different entry and exit strategies, etc.

But your challenge is to find out what really works in YOUR hands if you want success. This guideline applies to anything you want to master, be it trading, playing tennis, being a dentist or mason, etc.

Good luck man!
PS- when someone tells you their way is the only way to do something. be very careful-those types of people range from genius to complete dumbass. if you ignore, you might miss something valuable, but if you follow blindly.... you will definitely wind up in deep sh*t.
Quoting alextmj
Hi Everybody

I'm very new in FX trading, could someone advise which course/system is better - Beau Diamond's 5Minute FOREX or Peter Bain's Pivot Point or any other courses/system??

I really don't wish to learn, then unlearn, learn again....till the end.....still confuse & losing money.

Cheers!!!
There's some good examples there. If you haven't found anyone to educate you yet and you have some time try these guys - http://www.forextrainingworldwide.com
Quoting Drag
There's some good examples there. If you haven't found anyone to educate you yet and you have some time try these guys - http://www.forextrainingworldwide.com
You have been here as a member for a week and you reincarnate a thread that started in 2004 (7 years ago) and last responded to in 2006 ( 5 years ago) about training and provide a link to a training site.

I can only assume that you are a rep for that training company as who else would respond to a 7 year old thread. It would have taken a search regarding training to find that thread.

if you are then follow the rules about commercial members.

if you are not then don't litter the forum by responding to 7 year old threads. Start a new thread and discuss training resources.
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