An introduction to forex trading course must include three elements. You should be able to use a scientifically-proven trading strategy and you can also learn how to manage your money.
It is very volatile in the foreign exchange market. Without any prior foreign exchange education, technical analyses or training courses it’s very easy to lose significant amounts of currency trading.
There are many Forex-training courses. You should be cautious about courses that only cover certain Forex strategies and/or provide indicators for students. But they may not teach enough knowledge to allow them to trade forex. If forex trading strategies are provided by brokers who do not have licenses, this can lead to more problems.
These are the topics that a Forex course should address:
1. A proven and scientifically supported forex trading strategy. This strategy should be able to win more than 60%- 70% under every market. It is important to test these strategies again over time. The scientific testing should last at most 5-10 years. Many currency trading professionals cannot afford the time and expense to learn these techniques.
2. The best money-management strategy is sound. Warren Buffet has one simple rule about investing: “Do Not Lose Your Capital!” Your capital must be protected. The key to success in forex trading is good money management. Do not take on more than 5% risk for any single trade. If a forex trader has 60-70% success rate in winning more than 100 currency trades online, they will achieve greater success than someone who trades the same amount.