Effective Forex Training - 7 Things to Look For
November 12th, 2008
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Winston McCafferty asked:
It’s important to succeed at Forex trading, is it not? So, what’s it like when you imagine quickly and painlessly trading the Forex successfully?
Then, just imagine how great you’ll feel when you can quickly and easily spot the market conditions and setups that will lead to successful and profitable trades.
It’s easy to do for traders who use proven methods , tested Forex trading strategies, and most importantly good coaching and training. After all, winning is what proven coaching and Forex training does for you.
The role of the truly effective trading coach is to create the right conditions for learning to happen, and to continually motivate their students. Most Forex traders are already highly motivated and therefore the task is to maintain that motivation and to generate excitement and enthusiasm.
The roles that an effective trainer/coach undertake are many and varied. At some stage they will be your: instructor, assessor, friend, mentor, facilitator, demonstrator, advisor, supporter, fact finder, motivator, counselor, organizer, planner and the fountain of all knowledge - so it’s important to find a good one.
With the thousands of different Forex training courses available, how do you know who’s got one that works? There are many to choose from, all making the same claims. Plus, Forex training is notorious for being filled with charlatans out there selling their get-rich-quick snake-oil.
The reality is that not everyone can make thousands of dollars overnight. If you could, we would all just buy the latest “Miracle Money System” DVD set for $500 and quit our jobs tomorrow. Yeah right!
The problem with being new to the Forex is that you don’t know who to trust. So let me show you seven “must haves” to get a real, genuine education in Forex.
You should get, as a minimum:
One - 24/7 Access to online training materials - professional videos, recorded live trading sessions etc. It’s important to be able to have access to them on your own time, and at your own pace. Plus, it’s nice to review things when you’re trading.
Two - A comprehensive written manual - some people learn better by reading than watching videos and nothing can substitute for well written teaching materials.
Three - Look for courses that offer live interactive sessions that let you look over the shoulder of a professional trader in real-time. These should be offered at least monthly but weekly or daily is even better.
Four - You want live monthly extended day-long online classes that allow you to review, all the information you received, get updates on the current market, and learn what’s working now.
Six - One-on-one mentoring (this one should probably be #1) to give you specific actionable trading advice. Encourage you to make progress and correct bad trading habits or techniques. This is the big one! Nothing works better than personalized coaching.
Seven - The live onsite option - Look for courses that offer periodic onsite training opportunities. An in-person seminar has its own dynamic and its own unique learning opportunities that you miss in ebooks, videos, or email and telephone mentoring.
Look for those seven features in a Forex training course that is offered by a successful professional trainer, with proven abilities to teach. After all, just because someone’s a great trader does not mean they can teach. Michael Jordan was a legendary basketball player, but openly admits he can’t coach.
Remember, success comes with commitment and action “period”.
DOCHERTY
It’s important to succeed at Forex trading, is it not? So, what’s it like when you imagine quickly and painlessly trading the Forex successfully?
Then, just imagine how great you’ll feel when you can quickly and easily spot the market conditions and setups that will lead to successful and profitable trades.
It’s easy to do for traders who use proven methods , tested Forex trading strategies, and most importantly good coaching and training. After all, winning is what proven coaching and Forex training does for you.
The role of the truly effective trading coach is to create the right conditions for learning to happen, and to continually motivate their students. Most Forex traders are already highly motivated and therefore the task is to maintain that motivation and to generate excitement and enthusiasm.
The roles that an effective trainer/coach undertake are many and varied. At some stage they will be your: instructor, assessor, friend, mentor, facilitator, demonstrator, advisor, supporter, fact finder, motivator, counselor, organizer, planner and the fountain of all knowledge - so it’s important to find a good one.
With the thousands of different Forex training courses available, how do you know who’s got one that works? There are many to choose from, all making the same claims. Plus, Forex training is notorious for being filled with charlatans out there selling their get-rich-quick snake-oil.
The reality is that not everyone can make thousands of dollars overnight. If you could, we would all just buy the latest “Miracle Money System” DVD set for $500 and quit our jobs tomorrow. Yeah right!
The problem with being new to the Forex is that you don’t know who to trust. So let me show you seven “must haves” to get a real, genuine education in Forex.
You should get, as a minimum:
One - 24/7 Access to online training materials - professional videos, recorded live trading sessions etc. It’s important to be able to have access to them on your own time, and at your own pace. Plus, it’s nice to review things when you’re trading.
Two - A comprehensive written manual - some people learn better by reading than watching videos and nothing can substitute for well written teaching materials.
Three - Look for courses that offer live interactive sessions that let you look over the shoulder of a professional trader in real-time. These should be offered at least monthly but weekly or daily is even better.
Four - You want live monthly extended day-long online classes that allow you to review, all the information you received, get updates on the current market, and learn what’s working now.
Six - One-on-one mentoring (this one should probably be #1) to give you specific actionable trading advice. Encourage you to make progress and correct bad trading habits or techniques. This is the big one! Nothing works better than personalized coaching.
Seven - The live onsite option - Look for courses that offer periodic onsite training opportunities. An in-person seminar has its own dynamic and its own unique learning opportunities that you miss in ebooks, videos, or email and telephone mentoring.
Look for those seven features in a Forex training course that is offered by a successful professional trainer, with proven abilities to teach. After all, just because someone’s a great trader does not mean they can teach. Michael Jordan was a legendary basketball player, but openly admits he can’t coach.
Remember, success comes with commitment and action “period”.
DOCHERTY
