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I am sure many of you have heard the phrase or saying - there is no need to take any courses - everything you need to learn to become a successful FX Trader you can learn for FREE off the Internet.

In a "nutshell" - it could be looked upon as being true - the trouble is though - you are going to end up kissing a lot of frogs before you end up meeting your prince or princess ;-)

Nobody really wants to waste money on their learning journey - but unfortunately it happens to so many newbie traders. They either go to a free seminar and then end up spending $2k or $5K plus on a 2 to 5 day "intense special" seminar that will have them profitable ( not). Or - they spend $300 on buying DVD's and loads of books that they then think will have them at an intermediate stage within the months. (not)

So - am I saying spending 6 to 30 months trawling the internet and then copying "free methods" is the best way to get there?

100% - definitely NO

First of all - would you take your driving test without having at least a few lessons from a proper qualified instructor ?

Would you learn to fly a plane with the help of a few DVD's and a couple of books ?

Hopefully, you say - NO - OK it might be possible - but its not really the best way - why do you think trying to do things on the cheap is the best way ??

Personally though - I think you CAN learn a lot from realising that the VAST MAJORITY of traders are destined to be "losers" and therefore by understanding that you need to do things differently from the "herd/ crowd/ sheeple" and maybe do something Forexmospherians are well know at doing - ie thinking outside the box - using their B.R.A.I.N and E.Y.E.s.

I started FX Trading approx 14 years ago and during that time I have spend off and on at least 10 years on different forums and will openly admit during my first few years "wasted" my money on courses and DVD's etc etc - that I thought would help me find the "holy grail". The fact is - there is no "holy grail" - really the closest thing to it is how you adapt and perform - this is really a massive world wide "money game" and for retail traders - its mainly played in the "space between the ears"

You are going to find out there is no one way to make consistent profits from FX Trading - you are also going to find out that 90% + of all theories/ methods / indicators will just end up getting you maybe to a breakeven position and slight profits if lucky. You are going to realise that you are now up against "supercomputers" - the best brains in the world etc - and they want your money off YOU !  To do that - the market makers / players / big dogs/ Banks etc etc are prepared to misinform / lie / deceive etc etc so that you end up having a few "lucky" wins - but generally end up losing your capital and getting nowhere.

Learn from all the losing traders out there - ie the one's that think just learning Elliots Wave - or Gann Theory - or Fibs and Ichimoku etc etc will make you a consistent profitable trader - unfortunately they won't - there are so many factors needed - ie money management - timing - disciplines - emotion control & clear thinking - the ability to admit you maybe wrong - etc etc etc.

The Forexmospherian Forum is atm of time - Unique

For now - its the only FX Forum out there that does not have over 70% of its members who are LOSERS. We have a core of long serving traders who have a wealth of experience from scalping to swing - to positional and of course - the ones we all want to be - "Master Traders" - traders who can consistently profit day in day out from a combination of all methods.

Commercial / Bank Traders etc - would not have our retail FX knowledge - in fact just 4 of us have nearly 50 years of retail Trading experience  - and you then have traders of just a few years - not even intermediate traders telling us we live in "Fantasy Land"  - of course we do to them - they have just not got there - and never will thinking that taking just one trade a day is the answer or that the "books" say that will not work etc etc.

Please - Learn from all these Losers - don't end up spending 2 or even 4 years plus getting nowhere - ( yes all free off the internet )

Good Trading

Regards

Peter

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FXCoalface
Forex Trader,
Previous Contributor: FXstreet, T2W, Forexmosgate, Forexmospherians.com
Currencies: Various: Intraday, Scalp,
Senior Technical Market Analysis

Comments

  • Awesome man, I am glad you posted this and thanks for sharing.

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