What happens to Forex education and training?

There are three models of education that dominate the Forex market today. They all claim to have the magic formula, exclusive market knowledge, or some set of proprietary indicators. His promise to the ever-regenerating gang of hopeful FX traders is the easiest possible path to the promised land of Forex Enlightenment.

Understanding the realities of what's on the market in education is important to someone trying to become a Forex trader. This article addresses some of the most common paradigms in today's Forex education market.

The seminar

This is perhaps the most common form adopted in the FX Education Market, because it generally takes advantage of the notoriety or charisma of an alleged master trader to convince potential devotees to plummet between $ 3,000 and $ 8,000 for the privilege of spend a short weekend "learning how to trade".

Starting at nine in the morning, generally at 9:00 a.m., the host of the seminar will begin. After lunch and several breaks, you can get a total of 6 hours a day of Forex education.

This type of education is marginal at best because you are only exposed to information for a short and inefficient weekend, after that you are alone. If you're lucky, you were able to take notes and make scattered "next level" observations that could take you until you can retake the course, if you allow it!

You are just one of 100 people in the room vying for the attention of the alleged master merchant or business celebrity who runs the room. Therefore, you must wait in line in the chat to get answers to your questions, and worse, you must wait behind the questions of the slowest people in the room who, no matter how many times the material is explained, still They have questions that are very basic and range from repetitive to staggeringly pedestrian. As a result, the presenter must spend an enormous amount of time trying to correctively educate the slowest members of the room while waiting, minute after minute, to see their expensive Forex education go to waste.

So the bottom line is that it is a very expensive way to get what is generally just a rudimentary Forex education, simply because there is not enough time to train the group in the basics of trading, let alone the advanced subjects that are necessary to make profit in the Forex market

The chat room

The other type of education that is very popular among online forex robotron websites is the ubiquitous chat room. This is where a group of moderators spend the morning or only part of the morning trying to spread educational things to a large group of hundreds of people. If you're lucky enough not to be completely upset by the voices coming through your computer speakers, you may be able to gather enough information over the course of the next few months to build an appearance of a proper education. There is never an organized lesson or consistent scheduled teaching, and the moderators, because they are distracted from the trade by the continuous questions of the novice traders, become less effective like the traders themselves.

Any nugget of commercial wisdom distributed in these chat rooms comes in sporadic bursts that are unpredictable and of varying quality. Therefore, the trader hoping to receive a proper Forex education by participating in one of these chat rooms must do several things to be successful # 1. He must be able to spend every available hour in the chat room to avoid losing valuable information as Argue, and # 2 must be able to efficiently and effectively collect all of these data points in an organized structure, which clearly presents even the most accurate thinkers are a difficult challenge.

Another problem associated with chat rooms is that novice traders often use them as a crutch to avoid the difficult work of writing a trading plan, trying out a training plan, and learning to read the market on your own. They often blindly follow the trades and advise moderators or other senior members of the room, who post their numerous winning trades aloud (this assumes they are honest, wink wink). And therefore the merchant's development slows down for years as they just limp, trying to follow other people's trades, trying to figure out who in the room is the best merchant, so they can imitate his style. This process delays the merchant's development for years and sometimes forever if the merchant never discovers the cause of his desperate turns.