A forex course for beginners that teaches forex FXCM Markets trading should contain 3 key elements. It should provide a trading strategy that has been scientifically proven to work, effective money or risk managing, and a trading mindset.
The foreign exchange currency markets are volatile. It’s easy to lose lots of money in forex trading if you don’t have any previous foreign exchange training, fx courses, or technical analyses classes.
There are many Forex training courses. However, be aware of those that teach only certain forex strategies or provide forex indicators or indicators to students, but not enough to give them the essential knowledge to start forex trading. This situation can get worse if forex strategies provided by unlicensed forex brokers.
A good Forex course should cover these topics:
1. A scientifically validated and tested forex trading strategy. These strategies should have greater than 60%- 70% winning chances under all market conditions. These trading strategies must be tested again for a long time. This should include at least five to ten years of scientific testing. A lack of expertise, facilities and resources means that not many self-taught currency trading professionals can afford to test these foreign exchange strategies.
2. A sound money and risk management strategy. Warren Buffet’s number-one rule regarding investment is “Do no lose your capital!” It is essential to preserve your capital. Good money management will make a forex strategy successful. Don’t risk more that 5% of your capital for any one trade. A forex trader with a strategy that offers 60-70% odds of winning out 100 trades in an online currency market will have more success than one who trades the same amount.