Choosing The Right Forex Trading Courses
We looked recently at how the internet has amplified the availability of online trading materials from trading strategies and indicators through to Expert Advisors and various other technical tools. The same is also true for Forex trading courses. Forex trading courses have exploded in recent years as more and more trading educators rush into the fray offering the latest “get rich quick guide” to Forex trading.
This has become a problem as although the vast range of courses online has some benefits for the end user, offering a deep choice of provider and a variety of expense levels and payment options, there are of course clear downsides if users are purchasing forex trading courses from marketing entities instead of authentic trading groups.
The range of material available to new traders means it is even more important that traders properly research the courses they are purchasing to avoid disappointment. There are a few key elements that users should be aware of when looking to purchase Forex trading course
Key Elements That Should Feature In Forex Trading Courses:
Solid coverage of the fundamental drivers behind the Forex markets are an essential in any quality trading course. Regardless of whether or not you use fundamentals, having a decent grasp of what is going on behind the price action on the charts, what the different economic indicators mean, how to interpret central bank speak and understanding the importance of Inflation and GDP for a currency can only be a good thing.
There are many technical traders who only use technical analysis in their trading decisions, but fundamental analysis will still play a part in their risk management such as how they initiate positions and/or manage open positions around key risk events.
Trading Plans and Risk Management
So many forex trading courses are simply superficial documents designed by marketing groups using bots to trawl internet material and regurgitate useless information and a tell-tale sign that a Forex trading course is low quality is if they fail to include proper instruction on how to construct and follow a trading plan and how to utilise risk management.
A detailed trading plan is among the first key steps that new traders should take when approaching the markets and having a solid awareness of risk management can make the difference between surviving your first live year trading and blowing up your account.
Alongside fundamental analysis, technical analysis makes up the analytical suite with which traders approach the market. Technical analysis is a deep and diverse subject but essentially involved studying the charts and the way that price moves with a view to identifying common patterns/scenarios and or signs that tend to yield a certain outcome, thereby allowing the trader to exploit the situation for profit.
The key thing with technical analysis education is that it should be actionable – instead of just describing the different elements involved, forex trading courses should clearly define ways of applying different technical approaches to the market whether that be the use of trend lines and Fibonacci tools, technical indicators or pure candlestick reading. The material should help you understand both what the different elements are and how you can use them
Continuing on from the point made in the last section, forex trading courses should include detailed trading strategies. There are far too many courses out there that are simply too vague. A user might decide to purchase a course because it promises 1000 pages of material covering every aspect of Forex trading only to find that the course merely provides a brief introduction to each subject and doesn’t contain any actual trading strategies. The premise of purchasing a course is that the user learns how to trade and a key part of that is being given specific trading instructions to apply.
Going The Extra Mile
Perhaps one of the key determinants of a quality forex trading course, is the value added content that the user receives. With such a huge range of material online, including a great deal of free material, education providers need to distinguish themselves with a clear reason as to why the user should buy their course – whether that be with extra items included such as EA’s or indicators, incredible service, or flexible payment options to assist users in accessing the material.
At Littlefish, our popular forex trading course has been designed with all of the aforementioned in mind. Not only do we cover all aspects of forex trading from the very basic fundamental elements through to specific technical areas, we also cover trading plans and risk management (we even provide you with industry-standard performance metrics so you can properly assess your application of our methods).
At each stage of the course, we provide clear and detailed trading strategies relevant to the specific sections of the course including within the price of the course we have also added our full suite of proprietary order flow indicators, some of which are included within our own automated trading strategies used in fund management. The course can also now be accessed for just £50 a month to help make the content more affordable and we have recently added a further 10 bonus strategies.
Ultimately, choosing a forex trading course is a tricky business and as with all purchases, it pays to do your research and find out who you are dealing with. At Littlefish fx our traders are always on hand to answer any and all questions and our support team regularly assist with indicator queries, so if you are interested in purchasing our forex trading course, feel free to get in contact with any questions and in the meantime, why not download a free chapter and see what all the fuss is about.
So there you have it, help when it comes to Forex trading courses! If you’d like, discover the different types of Forex trading platforms available to you!