How to find a great Forex trading course

The learning path of all successful traders is the same: they started without knowing anything about the markets, but worked their way up through constant learning and trading experience. If you feel like you’re stuck in your trading process and don’t know what to do next, applying for a Forex trading course might your best decision.

How to find the best trading course?

There’re many courses available on the internet offered by various self-proclaimed trading experts. Even if you find a great course taught by a Forex trading institute, chances are it costs thousands of dollars. That’s why you need to make sure that the trilogy of time, scope, and cost fits your needs and trading objectives, as you’ll spend hours learning and researching once you settle for a course.

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The first thing you need to pay attention to are the trainers of the course. Are they really full-time traders themselves, or only great marketers? Check out their biographies and find out if they’ve written trading articles before.

The curriculum of the course

Naturally, the most important part of a Forex training course is its curriculum and what is has to offer. Since grasping various trading concepts in a short period of time can be a challenging and difficult task, a well-rounded course should have separate blocks for beginners, advanced, and expert traders. If you’re a beginner, don’t apply for an advanced course. Learn the basics first, as they form the blocks on which you’ll build later. If you don’t start with elementary concepts and understand them completely, chances are you’ll feel overwhelmed with advanced trading concepts.

A good Forex trading training course should cover important price-action techniques, such as candlestick and chart patterns. An introduction to technical analysis is also a welcoming part of a comprehensive course, as most retail traders focus primarily on technical levels in their daily trading.

A course shouldn’t neglect fundamentals

In addition to technical analysis and price action, another important part which shouldn’t be neglected is fundamental analysis. A well-thought-out Forex training approach has to include at least the basics of fundamentals, such as news trading and macro data interpretation.

Trading psychology is important

Beginners usually have the toughest time controlling their emotions, which makes psychology an important topic of every Forex training. Developing a trader’s mindset is what you need to focus on from the beginning, as the way traders perceive losses and winnings can make a real difference to their trading performance.

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A typical mistake that new traders make is letting their losers run, and cutting their winners short. In the long run, your profits will suffer if you don’t learn how to control your emotions.

Time needed to complete the course

The length of the course is just as important as its content. If you apply for courses that are too short, chances are you won’t have time to understand the important trading concepts properly. On the other hand, a course that runs for too long could lead to you losing the initial passion you had for learning as time goes by.

Of course, this depends on your own personality and available time, but consider a course that lasts for around two weeks as the sweet spot.

Are additional materials available?

Does the course offer any additional materials, such as daily analytical reports or live trading sessions? Daily reports will prepare you to read the market after you finish the course, which actually is exactly what you’ll be doing on a daily basis. Getting a feeling of what you need to follow in the reports will help you tremendously after you finish the trading course.

In addition, live trading sessions help you understand how to read the market from a practical perspective. Theory is just one side of the coin, while knowing how to practically apply it in your daily trading puts that theory to work.

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Your trading platform’s tools is another important topic to cover. You’ll be using your platform every day, and knowing some tips and tricks can help you save time and increase productivity. MetaTrader 4 still remains the most popular trading platform for Forex traders, so make sure that your course of choice covers that trading platform, its tools and features, how to open, manage and place trades, and how to perform technical analysis on its price chart.

Those materials can make a significant difference in your learning curve, so make sure to find a course that includes all of this.

Final thoughts on Forex courses

In this article, we covered the most important points of a Forex trading course. To summarize, the first point you need to check are the course educators. Are they traders themselves, or only good at marketing?

The next important point is the content of the course. It should be well-round and divided by the level of difficulty – if you’re a beginner, you don’t want to learn advanced stuff just yet.

The course should also cover fundamentals, since fundamentals are what moves the market and creates trends. Make sure that the course includes at least the basics of fundamental analysis. Since psychology plays a big role in trading, your course should also cover handling emotions so you don’t overtrade the market and make costly emotional trades which could have been avoided. Finally, additional materials are always a plus – daily market analysis, webinars or live sessions can help tremendously to understand the market from a practical trading approach.

While these points need to be followed when choosing a Forex course and picking a Forex trading school, they also apply to Forex related courses that cover stock trading or commodity trading. Do your analysis before you make a decision and your learning curve and trading performance might see a big jump after you’ve finished with your course.

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