Forex Advice

By: Kelly Price
As part of their forex education most new traders consider buying an e-book from a vendor and if you are one of them you need to ask one question:

How qualified are they?

Sure the advertising looks enticing but can you learn forex trading from them and can they give you currency trading success?

If you want to find out ask one simple question and it is:

Can I see your audited real time track record over the long term of 2 – 3 years?

Chances are you won’t get it.

Why because most e-book sellers simply rely on making claims (with no substantiation) and they normally only give you a hypothetical track record – let’s define what this is:

Its simulated and hypothetical and done KNOWING the closing prices – Well that’s not difficult but when you trade there is a problem:

You have to trade not knowing the closing prices!

The fact is most of these vendors are NOT trading the system they are making money selling it to you and in the vast majority of cases help you.

In fact you can get most of the information free on the net, or it’s based around logic that simply doesn’t work.

If you want to pay money for your forex education, then pay it to a trader who has walked the walk, rather than simply talks the talk.

This means going to or your local bookstore, here you will find a wealth of forex education that is worth the money, from some of the top traders of all time.

We have written articles on some of the best books so look them up.

If you want to learn to trade, make sure the person giving the forex advice has been in the trenches and done it themselves – if they haven’t made money with their forex trading system, what chance have you got?

Keep in mind this fact: 95% of forex traders lose and 5% win.

I would be surprised if any of the 5% did it buying an e-book without a track record.

Forex trading looks easy but few succeed – that doesn’t mean you cant win, you can but be realistic about what it takes to succeed and achieve long term currency success.

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