The search for high quality Forex trading courses and systems is a hard one. There are many low quality courses that are offered to you every week. In this article, I want to go over the FIT Forex system (Forex Interval Trading) by Scott Downing and help you see whether this course is really for you or not. I’ll do that by explaining a bit about this course and going over what I believe the pros and cons of this course are.
The FIT system is a home trading course that is designed to help you place high probability trades and capture big trend movements in the market. The course focuses on a small number of major currency pairs and uses a handful of indicators throughout. The course is made up of 7 disks (which you can also access online). Each disk includes a long video tutorial that teaches a different aspect of the Forex market and the FIT system itself. Overall, there are about 6 hours of video tutorials in this course. Each of them is presented in a clear manner by Scott Downing himself.
What are the pros and cons of the FIT system? What should you know before you buy? Let’s go over some of these points:
Pros:
- Scott Downing is considered a knowledgeable expert in currency trading.
- You can either buy a physical version of this course or a digital one for a lower price.
- Forex Interval Trading system is a course that applies to beginners and experienced traders alike.
- Can help you place more high probability trades to make more money in Forex.
- Includes a video segment on money management and risk management guidelines to help you control your risk and keep your potential losses to a minimum.
- Can be learned in a matter of days and quickly applied in active trading.
- The course helps you capture big trend movements in the market.
Cons:
- As the FIT system focuses on big trends, it may not be used in choppy market conditions (sideways market movement).
- Although there are more expensive Forex courses than the Forex Interval Trading system, it is not a cheap course in itself.
In conclusion, the FIT Forex trading course is a recommended trading training tool and system for traders of all levels. You can learn new ways to trade with this system and make more money on Forex.
By: John J. Drummond
In Forex trading, the vast majority of traders lose money and the amount is a huge 95%, so if you want to make big gains in currency trading you need to get yourself some good training and the best Forex courses will give you the info and coaching you need to win – lets look at the advantages of using a Forex course.
A good course will cost you around a $100.00 and the best ones will always give you a satisfaction money back, if you are not satisfied with the system which will enable you to try them with no financial risk.
The advantages of a good course are outlined below.
- They will give you proven systems, strategies and tools which explain all the logic behind them, so you know why they work.
- The currency trading system will be traded daily in live trading so you can see how successful it is in the market on a daily basis
- You will get tips on and coaching on how to achieve good money management,by adopting a disciplined mindset which is essential for trading success.
- There will be dedicated advisors, to answer your questions or queries as the course progresses.
A good course will normally be able to teach you to trade within a month or two and then your all set to trade for yourself. For a small cost, they could put you on the road to a great second income. Forex trading is not hard but you need to know the tools and strategies which work and while you can learn them yourself, it takes time and most people don’t no where to start but a course can give you a specific road map to success and all you have to do is follow it.
By: Sonia Kristina
It’s a fact that many of the worlds top traders are either good poker players or came from playing poker to Forex and the reason they are so good at Forex trading is the skills of poker are very applicable to trading and there is much you can learn…
It’s a fact that poker players tend to make far better traders than geeks or nerds and that’s because, they see Forex for what it really is – a high stakes game where simple systems applied with discipline, are more robust than complicated ones.
Lets look at the key areas you can apply poker skills to trading.
1. Forex and Poker are Games of Odds NOT Certainties
Many look for some hidden order to price movement and create complex theories they think will work but they break in the brutal world of trading, as prices only move to the odds and not to certainties and this means waiting for high odds set ups and taking losses and keeping them small, until high odds trades emerge.
2. Responsibility for Action and Confidence
Most traders try and follow others or buy a robot and think they will make money easily. The good poker player though knows when he sits at the table he is on his own and responsible for his results and no one can help him. He has confidence in what he is doing, because he has learned all the skills needed and doesn’t rely on anyone but himself.
3. Discipline and Money Management
Most traders can’t take losses and keep them small and can’t trade with discipline but you have to manage losses with discipline, to win long term in both Forex and poker.
The good poker player will pass hands by and fold and cheerfully lose, as he knows he must keep his losses small and wait for the right opportunity. He has confidence a high odds hand will come, he just needs to preserve his chips until the time is right.
4. Courage and Conviction and Bet Size
Most traders even when they get a big trend can’t make the most of it. They bet too little and take profits to soon as they lack confidence in what there doing and courage to bet big. The poker player on the other hand, will bet big and have the courage, to see the hand through to the end and make as much as possible from it.
5. Focus on Making Money not being Clever
In Forex trading you are not judged on how clever you are and how hard you work you are judged on the profits you make and thats all. If you want to be clever do something else. Forex trading is a combination of a simple method applied with confidence and discipline with one aim making money.
Confidence, Courage and Discipline = Success
When a poker player sits down he is out to win, he has no ego and takes his losses and knows they must be kept small – he has to lose to win and knows that he then, has the courage to hit high odds hands and maximize his gains. All these traits come together, to see a huge number of poker players emerge as super traders.
By: Kelly Price
Using a demo Forex account can be a very effective way to learn about the market and how to trade it. Most Forex brokers today offer access to a demo account before you start trading. Find out why you need to open a demo Forex account before putting your real money at risk.
Play Money
One of the most prominent reasons that you should consider using a free Forex demo account is so that you can use “play money.” This isn’t quite the same as Monopoly money, but it’s pretty close. When you open the account, the Forex broker gives you a certain amount of play money. For example, you might get $1,000 or $50,000 in your Forex demo account.
The major benefit of this is that you do not have to risk your own money. You can trade as often as you like on your demo without ever risking a real dollar.
Perfect Your Strategy
When trading in the Forex market, you must have some kind of strategy to use. If you don’t have a winning strategy, it will only be a matter of time before you start to lose money. You need specific money management rules, rules about when to get into a trade, rules about when to close a trade and several other guidelines. This can take some time to develop even if you purchase a manual trading system from someone else.
When you use a demo Forex account, you can work all the kinds out of your strategy without it costing you an arm and a leg to do so. This education is well worth the price of admission.
Feel the Market
Another advantage that comes with trading a Forex demo is that it allows you to get a feel for how the market works. The information that you see coming through your trading platform with a demo account is basically the same thing you would see with a live account. Most brokers use the same exact price feed for their demo accounts as they do with their live accounts.
Live accounts will be slightly different from demo accounts because of execution issues, but other than that, it is basically the same. This will give you the ability to get used to how the market operates before you try your hand at the real thing. Otherwise, you might get involved with a live account and be thrown for a loop when the market does something that you’ve never seen before.
By: Luke Arthur
Do not jump right in if you do not know anything about the particular market that you wish to invest in or this can be a mistake that leads to numerous expenses. In this case, what you need is some form of trading education. You need not fret for numerous resources are here for your benefit.
This trading platform is an Internet based currency trading system for self-directed and managed Forex trading. Usually, account management and in trade execution of major currency pairs are focuses of this particular technology. The system provides traders with real time quotes, one click execution, and anytime online account monitoring. This is where trade execution windows and a chart constructor are parts of the interface. You need to work with analytical indicators and drag and drop chart options here.
It is the Quote Window that you can use to set up stop loss take profits. The Context Help System provides users with on demand help within every section of the trading platform. You can access an automated back office through the Internet and a real time account reporting facility is also available.
It is important in this kind of trade for the participants to be able to get the quotes that they need and accurate ones are provided to them from the global Forex marketplace. There are more places to make a trade for there is the Quote Window, Trade Window, Full Screen Window, and the Toolbar. With more areas to trade in, traders can make trades almost instantly.
Trading Forex depends on your knowledge in the field as the president of the trading platform said. A history of Forex, charts and technical indicators, and trade execution lessons are only some of the offerings of this Forex market system platform. Amateurs can really benefit from a demo trading platform.
If you need training then you should definitely go to the Forex Academy to get the help that you need as a new trader. The essentials when it comes to fundamental and technical analysis and risk and money management are available here. Experts can also be assisted by this program.
There are varying trading programs that are available under one interactive graphical environment. The on screen graphs and reports update to show how changes to such things as moving average periods and stop placement affect profits. Because of this feature, a simulator is made available to traders. If you are engaged in the Forex market then you have access to plenty of resources that you can get by simply connecting to the Internet. You will be able to participate in simulation trades after you create your demo account. Online resources also offer real time streaming quotes, charts, and news. The Forex market has definitely gained plenty from the availability of online Forex education.
By: Henry Lamp
Forex Profit Accelerator is a well known trading course created by veteran trader, Bill Poulos. This is a home study course which includes video tutorials and written material which teach you how to make the most money that you can through Foreign Exchange trading.
Before I go into what this course offers, let me say plainly that Forex Profit Accelerator isn’t a scam. It’s a highly impressive learning resource from a renowned and respectable trader and educator. There’s no doubt that Bill Poulos’s Forex experience is sound. He has been doing this successfully for over 30 years and his education material is top notch.
What I like about Forex Profit Accelerator is that it doesn’t make impossible claims like having a 100% success rate (which no system or course can guarantee). This is a course which will require active learning and application on your part. It’s not a get rich quick scheme.
Another thing which I like about this course is the fact that it not only teaches forex trading but also risk management and money management. This allows each trader to fit the trading strategies which the course teaches into his own personality and financial condition. I don’t know of any other course which teaches these things in the framework of a Forex course and so I believe this is extra valuable.
The best thing about Forex Profit Accelerator is that it offers a year long support for all its members. This represents Bill Poulos’s commitment to help make each of the people who use his course the most successful they can be. This is something which other courses don’t offer and it’s super valuable.
In conclusion, I believe that Bill Poulos’s Forex Profits Accelerator isn’t a scam. It’s a worthy course which deserves your consideration if you wish to make true money on the Forex market.
By: Jonathan Gibson
In this article, we will study a group of novice traders, who had two weeks training and then went on to make millions in profit. You may not make millions but if you see how they made money, you will see how you can enjoy Forex trading success.
Richard Dennis was a well known trader who had made millions but he was very modest and claimed anyone could be a successful trader providing, they had the right method and mindset so he set himself a challenge:
To teach a group of people, with no experience to trade in just 14 days and these people would be both sexes, all ages and of a varying intelligence. The group was a good mix and contained an actor, a security guard and a female accounts clerk to name just a few.
After their training, they started trading and started piling up triple digit gains and went on in a period of 4 years to make hundreds of millions of Forex profits. So what was the secret of their success? I have summarized the key points behind their success below and some of them may surprise you so here they are:
The Best Forex Strategies are Always Simple
The best strategies are simple and use technical levels to enter trades. The trading system taught, was so easy to learn it took just a couple of weeks. Being clever or working hard on a trading system, doesn’t guarantee success so keep it simple and you can win.
No Prediction is Needed to Make Money
Despite what many gurus will tell you – Forex prices cannot be predicted! If you want to make money you simply trade price action and watch for confirmation of trend changes. The strategy used was based on trading breakouts and traded long term trends which is always going to make money.
Money Management – Losses Don’t Matter the Size of Them Does!
The system lost over 70% of all trades placed but the strict money management rules meant, they were always small. On the other hand, the big profits were run for weeks or months and covered the losses, giving the traders great long term profits.
Forget the people who tell you, that you can win over 90% of the time – its a lie. Most of the successful traders in the world, win less than half their trades but that doesn’t matter, because use proper risk control to cut losses and run profits.
The Key Factor for Success – Your Mindset
It’s simple – If you don’t trade with discipline you won’t make money. Let your emotions get involved and you will run losses which will end up with your account being wiped out. The traders in the group, had no problems learning the system or understanding why it worked – but they all found following the strategy with discipline the hardest part however they knew, that’s what they had to do to win and their discipline was rewarded.
Can You Become a Successful Forex Trader?
Yes you can, as you can see from the above story but the one key point to keep in mind is its not learning a method which can beat the market which is the key to FX trading success, its adopting the right mindset.
Sounds simple?
It is and it’s the true secret of currency trading success – understand it and you can make a lot of money trading global Forex.
By: Kelly Price
If you trade anything you need to educate yourself and I am not taking about how the markets work and how to place orders that’s easy, but it won’t help you win.
Below find some forex education that’s free and will help you build a trading system that can make you big long term gains.
The good news it’s all free.
You may be tempted to buy an e-book from a guru and pay but you don’t need to, you can get a good solid system for free if you know what to look for.
Follow the advice on forex education below and you will see that you can build and apply a forex trading system from free sources on the net.
The Basics
The first thing to learn about is technical analysis simply type in the phrase and all the basics are there for free learn all about trend lines, support and resistance etc.
Now let’s look at a way of applying technical trading that works today as it always has.
Trading breakouts
If you look up this phrase then you will understand why breakouts work.
It really is simple to understand.
Keep in mind most of the world’s top traders use breakouts in their methodology.
So now you will know the basics of technical analysis and the logic of trading breakouts.
The next bit of forex education we need to look at is timing trades.
For this we need to look at some indicators that will help us time trades, spot trend changes and help us calculate the strength of trends.
Here are a few you should learn about:
1. Bollinger bands
2. Stochastics
3. Moving Averages
4. RSI
There are more but over 20 years of trading I have always used these as the basis of my own trading.
Applying what you have learned
In further articles in this series I will show you how to use charts, a breakout methodology with the indicators above to build a trading system that you can use which you will understand have confidence in and could make some nice profits.
We will look also at money management and adopting the right mindset to go and make some big profits.
For now simply brush up your forex education in the areas indicated above and we will move to the next stage of putting it all together.
By: Kelly Price
Bill Poulos is one of the leading Forex educators in the world today. He has various courses which teach all sorts of trading methods, systems, and techniques on how to earn more on the currency trading market. Thousands of students from around the world have taken one or more of his courses and there are numerous positive testimonials about them.
His Forex courses include:
Forex Nitty Gritty – which is mostly for beginner traders and does a great job getting newbies into the market in the right way.
Forex Income Engine – A high level course for day traders.
Forex Profit Accelerator – An advanced course for end of the day traders.
As you can see, there is a great variety in these courses and you can certainly find a course that suits your trading style and current level of experience.
However, even though Bill Poulos is a trading veteran with over 32 years of active experience, and even though his knowledge of the market and of how trading should be done to achieve a long term success, his courses are not without their cons. Since you may be considering signing up for one of his courses, I think it’s good that you know about the pros and cons of his teaching. This will help you make the best decision for you regarding these courses.
These pros and cons are general as they refer to all his courses and not to any specific course or training.
Pros:
Bill Poulos is certainly a noted expert with a great deal of knowledge. All his courses are rich in trading examples which he explains in detail. He is an expert on risk and money management, two skills which many traders ignore and which can have a tremendous impact on your trading results. He offers support for each and every one of his students in the advanced courses with extra material to help you become a better trader. There’s a money back guarantee for each of the courses.
Cons:
Bill Poulos is not the most charismatic of teachers so some of the training does get a little dull. Don’t expect to be entertained, just educated. His high end courses are expensive so they may not be in your price range. However, it helps to keep the knowledge exclusive.
Overall, Bill Poulos is an excellent teaches so you can expect to learn a lot from him. I believe that his teaching will help you become a better trader.
By: John J. Drummond
Forex Profit Multiplier is an advanced course for currency traders. It was developed by Bill Poulos who is a well known trading expert who has over 30 years of active trading experience and has been teaching other traders to become successful in the market for the past 10 years.
This is a home study course which includes a variety of multi-media resources:
- Video training CD-ROMs which teach 3 different trading methods for various market conditions. Each of the trading methods is explained in detail, complete with numerous trading examples on a variety of currency pairs. The methods are complete with clear setup, entry and exit guidelines. The guidelines focus on creating high probability trades with an emphasis on minimizing risk and securing a good profit from the trades you perform.
- Video training for money management to make sure you’re never exposed to too much risk.
- Video training covering the basics of the forex market. This training is provided to make sure that even new and inexperienced traders can use the Forex Profit Multiplier methods.
- Written material with trading charts, a complete manual, and trading blueprints.
The course also comes with a unique trading software. This software automatically identifies when the correct setup conditions occur and alerts you when it happens. Trade alerts can come in 3 forms: email, SMS, and RSS. You can follow these alerts and place the trades as they direct you to do with little hassle and trouble.
In addition, there will also be weekly training sessions with Bill Poulos and his team to deepen your understanding of the market and help you with any issues that arise from the course. Naturally, you also have full time support for any questions that you might have.
Forex Profit Multiplier is a complete course that can deliver excellent results for you. The only real downside is that this course is far from cheap. Some may consider this to be an advantage in disguise as it will limit the number of traders who will use this course and create bigger advantage for them. However, you do need to be able to afford the course.
As the testimonials of students of Bill Poulos show, his teachings make this course worth the price and the earning potential in Forex is such that you can make the price of the course many times over. Naturally, this depends on how well you work with the course and how you study it.
Forex Profit Multiplier can turn you into a more profitable and independent trader. The only question is whether you will make the time to study it and put it to good use.
By: John J. Drummond