During my trading career I have come across many courses, mentors and guides, and here’s my general experience. You can divide forex courses and mentoring into two main groups, the $97 100% money back guarantee type and the more expensive where you get a mentor and tools and a system to trade.
My Experience With The $97 Forex Course.
Well I must have spent hundreds, I’m quite savvy when it comes to purchases usually, but in the quest of seeking my fortune and making millions and millions of pounds it was a small price to pay for what could be ground breaking for my forex career. I tell you every single one of them is more or less just the same, you don’t get much support if at all, but then again none is really promised. You will probably get a rather substantial PDF file consisting of around 100 pages, 200 if you are unlucky, these things take time to go through, I’d have a quick look through them first just see if I could identify that gem of information that will revolutionise my forex profits. Then after a quick scan I’d read them carefully, and after the first couple I realised there were so much similarity between them all, consisting of simple moving average systems or indicator based systems, with so much babble just to fill up the PDF file. Some would have nice modern chart diagrams, some were in grainy black and white, especially if it consisted of candlestick explanations, probably copied from an old source past it’s copyright. The candlestick descriptions alone could easily fill up a quarter or even a third of the e-book, and this is common knowledge that is freely available on the internet including extensive detailed videos of them on Youtube. And what’s more I spent valuable time going over the same old rubbish in many different flavours, time I could have spent on better things to learn about forex. The thing is though, I will probably never know if these so called system ever worked at all in practice, since you need to have a good idea of what you are doing before you can apply them, and by the time you know what you’re doing you don’t need them. Whatever the case, they are generally a waste of time and money and offer nothing more than what can be found freely on the internet.
My Experience With Forex Mentors.
I found the experience of getting my own personal forex mentor quite exciting, especially the first time, but even thereafter it would always be an exciting time starting a new course since every time I was so optimistic that this would be the course to end all courses. I’d excuse myself that I hadn’t done proper due diligence when choosing the previous mentor, and now that I had, this would be it. The first course I took must have been the simplest ever, I was totally green to forex, I had no idea what it really was, but this course was obscenely simple, a PDF every day for about a month, I learnt nothing I couldn’t have if I’d dimply just played with a demo account for a few days on my own. We had an audio only webinar on Sunday nights for a couple of hours, and boy could this guy talk, and yes it was interesting, but it was about nothing really. After the money back warranty date had passed it was then we got into strategies, and the strategies were a joke, not even worth a mention really, and I still was not much the wiser after 6 weeks. The second course I took was a while after this, this time I’d done my due diligence, and this time was going to be it as I always thought the beginning of my real forex career was about to start. There were lots of material and a very comprehensive system and looking back it probably would have worked given the time. But it was the wrong kind of mentoring especially for me, I was full of ideas of how to trade forex, I had half an idea what I was doing which can be worse, and he’d encourage my ideas. What I really needed at the time was to be taught patience, not how to get into every signal you could see on the chart. I wouldn’t even try and follow the system, I just took a few pointers from it to use as entries, and I just continued to make losses, I didn’t blame the system, I knew it was me. But this is where I think a mentor should guide and show patience and explain more about the system rather than have a chit chat about ideas. It was a common experience with mentors that as soon as you’d sign up they’d go on about how they’d had a hard time on some review sites, and how unfair it was and how it was their client’s fault for not giving it a proper go and this that and the other. They would then ask if we could make up for this,n and since you could easily see that his material was good quality stuff and how helpful they were being, I’d go right ahead and give them 5 star reviews, but this was just a ploy to get good reviews from us at the start of the course before we got disillusioned. On the whole courses and mentors are a waste of time, the resources are out there free on the internet, it takes time, boy I know it takes time, but eventually with enough patience and determination you’ll get there.