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How much are you ready to pay for Forex Stuff?

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  • How much are you ready to pay for good Forex stuff?
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  • #1
  • First Post: Aug 9, 2011 6:19am Aug 9, 2011 6:19am
Huge business has made around Forex. Average trader has a lot of opportunities to invest money: books, webinars, signal services, mentors, indicators, expert advisors, special courses. The main questions - does it work? Will it help? Let's assume you were told by two best friends it was working perfectly. How much are your ready to pay for it?
  • #2
  • Aug 9, 2011 1:41pm Aug 9, 2011 1:41pm
Quoting josef
Huge business has made around Forex. Average trader has a lot of opportunities to invest money: books, webinars, signal services, mentors, indicators, expert advisors, special courses. The main questions - does it work? Will it help? Let's assume you were told by two best friends it was working perfectly. How much are your ready to pay for it?
I did the following when first having researched forex:

I invested in a course or two to get some basics down in forex. I think this really helps in the beginning, cause you get some structure on what a system should consist of and the basics.

But once you got the basics down, I wouldn't invest in any course anymore. So much free stuff on the internet. You can get any knowledge you want and the rest is just research research research.

But I would do the same in any other field. If I am new to a field, I want a course to get the basics down and then practise the rest on my own.
  • #3
  • Aug 9, 2011 2:09pm Aug 9, 2011 2:09pm
There is enough info on the web to learn Forex without payimg a dime. I did it! Now paying for a course could be very beneficial and help save a lot of time and could prevent the pain and agony of having to do the research to learn and understand all the little pieces of Forex.
The only thing im ready to pay for, is the spread of the pair im trading!
Damn The Torpedoes, Full Speed Ahead!
  • #4
  • Aug 9, 2011 3:24pm Aug 9, 2011 3:24pm
If something really works, why sell it? I'm skeptical of things for sale in this business
  • #5
  • Aug 9, 2011 7:58pm Aug 9, 2011 7:58pm
I lost 100k when I first started trading what I know now is priceless.
  • #6
  • Aug 9, 2011 9:19pm Aug 9, 2011 9:19pm
Quoting QuadrupleX
If something really works, why sell it? I'm skeptical of things for sale in this business
Hey, just a thought.. If something works, sure, why sell it? However, at the beginner level, there are a lot of fundamentals to cover, as well as basic entry and exit methods, order types etc.. Also you should never overlook the basics, and I think that goes for most things learned in life.

I think one should be prepared to spend at least a couple hundred on educational material, but that depends on how apt, and able you are to soak up the material.

My first book on FX was Forex Made Easy by James Dicks. This isn't a reco to go buy it, I'm sure there are many better 'basics' books, but this is the one I found, green as a clover and armed with as much empty confidence one could possess.. And I tell you, the title was verrry misleading :|


Don't over look the fundamentals.
  • #7
  • Aug 9, 2011 9:34pm Aug 9, 2011 9:34pm
Stratman is a very good teacher in Forex , search him in ff. I started with him and he can show you the ropes.

fishman356
  • #8
  • Aug 9, 2011 10:23pm Aug 9, 2011 10:23pm
im ready to pay for courses to learn new stuff. losing 3000$ to a course is better than losing 3000$ to the market.

3000$ lost to the market gives you nothing other than a hole in the pocket.
  • #9
  • Aug 9, 2011 10:24pm Aug 9, 2011 10:24pm
Quoting josef
Huge business has made around Forex. Average trader has a lot of opportunities to invest money: books, webinars, signal services, mentors, indicators, expert advisors, special courses. The main questions - does it work? Will it help? Let's assume you were told by two best friends it was working perfectly. How much are your ready to pay for it?
Hi Josef

I guess it depends what level you're at. Like at the beginning when you're (I was anyway) in that get rich quick mode where you still believe after reading "this e book" you will be making $1000 a day in no time, then you would probably spend more as you believe you're soon going to be rich lol.

For me these days it's just what I can afford, I act on a NEED basis so if I need a new monitor I get one but don't look for the highest quality, just what I need sort of thing.

I try to stay away from anyone trying to sell me anything to do with "trading secrets" like books although I spend quite a few dollars on books that can actually teach me something like to do with the mechanics of different aspects of the financial system (Economics, Market Micro structure, International trade and banking etc.)

It's a tricky question really, for me I guess I just get what I feel I need, the price is irrelevant (I should probably have just said that to begin with and saved you all a sleep lol)

Anyway that's me.
Time hides Nothing
  • #10
  • Aug 9, 2011 10:29pm Aug 9, 2011 10:29pm
In the age of the internet, you can learn just about anything you want to know about Forex. I wouldn't pay a dime to anyone.
  • #11
  • Aug 9, 2011 10:52pm Aug 9, 2011 10:52pm
Quoting Troikaone1
In the age of the internet, you can learn just about anything you want to know about Forex. I wouldn't pay a dime to anyone.
Exactly. IMO there's more than enough info in this forum alone to be profitable.
  • #12
  • Aug 9, 2011 10:59pm Aug 9, 2011 10:59pm
I'd agree with the two above. I personally like books, easier to use as reference, and a little nostalgia doesn't hurt.
  • #13
  • Aug 9, 2011 11:07pm Aug 9, 2011 11:07pm
Quoting thelws
im ready to pay for courses to learn new stuff. losing 3000$ to a course is better than losing 3000$ to the market.

3000$ lost to the market gives you nothing other than a hole in the pocke t.
What the guys above said... And you can learn much more losing $3000 in the market (provide it hurt) than on any "seminar" by some "expert" IMHO
Time hides Nothing
  • #14
  • Aug 10, 2011 12:07am Aug 10, 2011 12:07am
I believe large losses would count as a "stupid tax".

Then you can put it down on your taxes as a stupid write-off
  • #15
  • Aug 10, 2011 3:36am Aug 10, 2011 3:36am
I wouldn't pay a dime too. Not only that most information is available on the internet, you can trade for free in a demo account too - which is almost as real as trading with real money (with the exception of trade execution, widening of spread and often stability of the platform at news times compared to real money accounts at the demo account's I have tested).

If you take into consideration that 90% of what the internet offers you on forex/trading knowledge is wrong in my opinion and the same goes for anything you can pay for, I would certainly stick to the free stuff. Learn and trade, learn and trade...
  • #16
  • Aug 10, 2011 3:42am Aug 10, 2011 3:42am
What i am learning for myself is that the only thing that works is to match our own personality to the market. Our personality is a bunch of perceptions and filters and so individually we will all see completely different presentations from the same data. However, pure observation of this date, as filtered individually will present many good opportunities that when acted upon can be successful. And then we will be in accord with who we are with our market interface.

However, we, (I) am continually torn away from this by the massive amount of "clever" stuff out there, which sure may work for the creator, but certainly doesn't work for me. Each time i buy this stuff - and then reject it - and return to what i see and succeed at - i realise this, and may be a step closer to being in accord with myself.

Remember, fundamental to our nature is a rejection of ourselves and who we are.

And so i think the more of this stuff that is out there, and the more expensive it is, and the more we spend on it, and discard as useless, the better - in that, hopefully the penny may eventually drop, Just Act in Accordance with what I see and Know.
  • #17
  • Aug 10, 2011 4:04am Aug 10, 2011 4:04am
Quoting josef
Huge business has made around Forex. Average trader has a lot of opportunities to invest money: books, webinars, signal services, mentors, indicators, expert advisors, special courses. The main questions - does it work? Will it help? Let's assume you were told by two best friends it was working perfectly. How much are your ready to pay for it?
Market research?
  • #18
  • Aug 10, 2011 4:09am Aug 10, 2011 4:09am
I've paid about 2K on mentoring / education and probably another 2k on books.
Don't regret it. I have lots of knowledge, but does it help me trade? I don't know... Not there yet.

A book like "Trade your way to financial freedom" is great when your just starting out. It really gives you the basics and you learn terminology and definitions. What is Expectancy? %R money management, etc. etc. A good book on price patterns is great to have too. Learning about basic economics or market micro structure really helps in learning the mechanics.

Sure you can piece it all on the web, but 3-4 books can really put together well. I'm probably around 40-50 books I've read on trading alone.

Naturally, everyone is different. I take my trading education pretty seriously and when you consider you can be making 100's of thousands a year, what is 5-10k on education gonna be at the end of the day?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #19
  • Aug 10, 2011 6:16am Aug 10, 2011 6:16am
Quoting LasVahGoose
I've paid about 2K on mentoring / education and probably another 2k on books.
Don't regret it. I have lots of knowledge, but does it help me trade? I don't know... Not there yet.

A book like "Trade your way to financial freedom" is great when your just starting out. It really gives you the basics and you learn terminology and definitions. What is Expectancy? %R money management, etc. etc. A good book on price patterns is great to have too. Learning about basic economics or market micro structure really helps in learning the mechanics.

Sure...
I agree read some good books and then find someone who can be your mentor. You may find them on the net but word of mouth is much better in my view.

People I know who are starting out do tend to seek out free info BUT it makes them flit from one strategy/method to another and get bogged down and very confused with little focus. It's difficult to pay for help when money is tight so some have to go down this avenue.

I retain my mentor to this day, not because I need her anymore I am way past that point now BUT I enjoy the contact, she is a price action expert and she really made it all happen for me. She can still tell me things that allow me to expand my horizons in a trading sense.

Trading is a business not a game and you have to carve out your own way of tackling the markets. A mentor can provide crucial support to get you through the tough times and open your eyes to things you cannot see yet.

makingpips
  • #20
  • Aug 10, 2011 6:17am Aug 10, 2011 6:17am
You are the developer and have something useful for yourself. Why would you give it for free? Why you shouldn't sell it?

There is a lot of stuff made just for making money from selling it, but there is useful stuff. Hard part found our what you are looking at.

Josef
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