Forex Trading Advice – Advice to Avoid at All Costs and Where to Find the Best
If you are starting out on your forex education and seeking forex advice there are some great sources but most advice wont help you win. Here are the best sources of forex advice and many are free…
Let’s first go to where you won’t get good forex trading advice.
What successful traders have time to hang around forums?
I don’t know any and there mostly populated by losers, who get their kicks from dispensing their wisdom because they can’t win at trading and it makes them feel big. The other group that hang around forums are vendors, hoping to sell their junk products, as the solution to your trading profits. Steer clear of forums at all costs.
Put Your Email in and Learn Secrets
Vendors do this all the time, to get names to email blast their products to.
Normally the advice you get is obvious have a plan, cut your losses, run your profits etc. Hey, never knew that! Don’t bother with these unless you want a full inbox.
Forex Robots and Automatic Advice
You don’t have to do anything or know anything, just plug them in and you have an income for life for $100 wow!
Does anyone believe the vendors who sell these products? Obviously they do – but who in there right mind wants to use a product that has never made money and has a simulated track record? Not me, call me a cynic – but the right word is realist. If you want to make money in forex you need to work for it.
If brokers could trade they wouldn’t be brokers, they would be traders.
There guides and newsletters are normally terrible and reflect the herd and will see you lose. Furthermore, most brokers are market makers i.e. they win, when you lose so a bit of a conflict of interest.
It’s great and interesting but the so called experts telling you where prices will go next are not traders and invariably the news reflects the herd who lose its stories and opinions nothing more. Never TRADE Off a news story.
So where can you get good forex advice?
You can get a ton of advice for free and if you want to use forex technical analysis to trade, you can learn about all the indicators and theories for free and build your trading system from them. We have explained this in other articles so look them up.
You can also get some good forex courses with money back guarantees – just make sure, you pick one that teaches you something unique, to give you a trading edge.
Now if you want to spend some money for $100 or so you can get some of the best advice of all, from some of the worlds most profitable traders, by popping along to your local online bookstore.
We recently did a top 10 trading books and they can ALL be got for just over $100 which is a sound investment.
Most forex trading advice you see online is not going to help you win but there is some great advice you can get for free and from your local bookstore and for a couple of hundred dollars or less, you can get some great forex education.