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With the rise of online currency trading, we have seen a huge rise in forex education which is sold online.
Most promises you wealth the easy way or secret systems but what is the truth about forex education online.
Let’s look at some facts before you consider buying any.
Fact: If it’s that good why are they selling it?
The most obvious question and it has an obvious answer – they don’t make money trading, so why not pretend you can get rich with their info and appeal to the greed of investors?
The vast majority of forex education online is sold by failed brokers or marketing companies.
They don’t have the confidence or know it doesn’t work, so why not get guaranteed income selling it online and make up some appealing copy?
Fact: Ever seen an e-book or system sold with this…
A real time track record? That’s real dollars made in the market by the seller?
Of course you don’t!
What you normally get is a hypothetical track record simulated in hindsight.
How hard is that?
They know the closing prices, when they make the track record up!
My daughter could do that and make a profit and she has no trading experience and is 10 next birthday.
They mean nothing at all in terms of profitability of the course.
The day trading myth
The vast majority focus on forex day trading, which by its very nature cannot work, as all short term volatility is random.
You can’t make money forex day trading, but its good story, so vendors appeal to people’s ignorance and greed, make up a track record and take their cash.
Let’s look at the secrets you are supposed to learn from these courses.
What secrets do they normally contain?
Well none – fact is, you can get far better forex education off the net and the good news is it’s all free.
If you want to save your money then you can and get better information for free.
The reality of trading Forex is over 90% of traders lose.
Only a minority win and trust me, they know the only person who can give them success is themselves and they wont get rich spending $100 or so.
If you want to learn forex trading, you will need to do it on your own or lose - it’s a simple choice.
If you don’t like the sound of it don’t trade online currencies.
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