Posts tagged education
Get An Education!
The barrier of entry to retail FX trading is very low. All you need is money to fund your account and an opinion on the markets.
Even though the tools for trading FX are within the reach of most aspiring traders, staying profitable is a goal that only a few traders can say they’ve achieved. What makes a trader successful? We can debate that for ages. In his book “Way of the Turtle: The Secret Methods That Turned Ordinary People into Legendary Traders,” Curtis M. Faith says, “trade with an edge, manage risk, be consistent, and keep it simple.”
Instead of funding their account, most new FX traders fall into the trap of spending a small fortune on expensive, exclusive workshops or seminars where supposedly the “secrets” of FX trading are shared.
The reality is far more simple. There is no big secret or a strategy that is fool proof. All you need to be successful is a method that statistically puts the odds of winning in your favor over the long run.
It is important, however, to get acquainted with some statistical concepts such as positive expectations and game theory.
The following websites offer comprehensive free courses. - http://www.babypips.com/school/- http://www.fxstreet.com/education/learning-center/
Knowledge is key, but experience is really the best teacher.
