The three related site key elements of a beginner forex course should include: A forex course for beginners should include a proven trading strategy, money management and trading mentality.
Volatility is a major concern in foreign currency market. You can easily lose large sums of money when forex trading isn’t your forte.
You can find many Forex courses. There are many Forex training courses. However, not all of them will teach forex strategies. Forex strategies offered by forex brokers that are not licensed can make this situation worse.
This is what a great Forex course must cover:
1. A tested, scientifically valid forex trading strategy. They should offer greater than 60% to 70% success rates in all markets. The trading strategies need to be tested over a period of time. These should be at least 5-10 years worth of scientific testing. This is because many currency traders are not equipped with the necessary skills, resources and infrastructure to be able to evaluate these strategies.
2. You need to have a sound strategy for managing risk and money. Warren Buffet stated that “Do not lose capital!” Conserving your capital is vital. An effective money management strategy is key to a successful forex strategy. For any trade, you should only risk 5% of your capital. An online forex trader who has a strategy that gives 60-70% of the chance to win 100 trades will succeed more than someone trading the same amount.