learn to trade currency

Currency Trading Training - 5 Questions To Ask Anyone Selling It
By pegweb
1. " How much have you made yourself through currency trading over the last year?"


Most sellers of currency trading training materials don't actually do any trading themselves. They've found a lucrative market, they've cobbled together an ebook, a course, or a video from hundreds of similar products available free on the internet. They've downloaded them, rearranged the contents and spun it a little to make it unique, and put their own name on it. They've paid a copywriter to write a killer sales page, a graphics designer to create some colorful, attractive graphics, got their web site hosted, perhaps with an auto responder full of email messages, and they're in business.

Anyone can do this. They're all phonies, but it's a market crammed with eager buyers, so it's hardly surprising.

2. "Have you made your money in just one or two markets or using just one or two techniques, or by trading in a wide range of markets and by using a variety of techniques?"

If the seller is a phoney, he'll probably assume that you'd like to hear that he's made his money trading in a wide range of markets and using a variety of techniques. So that is probably what he'll tell you. In fact, the few successful currency traders mostly restrict themselves to one or two currency pairings and use only a few different techniques.

There's nothing wrong with doing that. The only important thing is if it works or not. If the seller tells you he only trades in one or two currency pairings then the information he sells should be restricted to what he succeeds with himself.

Many sellers are affiliates and so they will say they are merely selling the information as such and that's why they don't trade. The obvious response is to ask them why not, if it's so easy to make profits in this way. But they're probably just promoting a program that makes them money, and that's all that matters to them. Try and get to the ultimate author of the information and ask your questions of him.

3. "Is there an unconditional money back guarantee in case I use your methods as instructed over a period of no less than three months and am not satisfied?"

There are two points here. The first is that you need a three month guarantee. Anything less isn't enough as you won't have enough time to learn the system on a demo account (where you don't risk real money) and then put it into practice on a real account.

The second point is that many of these guarantees require that you have traded with real money and not made a profit within that time. The seller knows that most buyers won't have moved from a demo account to a real account until after the guarantee period has expired.

Ask him if you can have your money back if you fail to make profits on a demo account. He may reply that you won't have learnt the system properly until you trade with real money, in which case ask for an extended guarantee period to cover the extra time you need.

4. "Will you provide telephone and email support during the period when I am trading on a demo account?"

When you learn on a demo account (where you don't risk real money) you should trade as if you were using real money. Otherwise you won't learn. Don't trade recklessly just because there's no real risk. For this reason you need support just as much as if you were trading for real.

5. "How long have you been trading and when did you first start selling this information?"

If he lets slip that he's been selling the information for as long as, or longer than, the time he's been actually trading, then beware. The truth is that you can only trust someone who actually trades the markets himself. It doesn't matter how much money he's made selling the information, if he doesn't trade himself then how can he seriously teach you how to trade, especially when there's supposed to be so much money to make.

Find yourself someone who has made money by trading the financial markets and who is willing to teach you. You're half-way to finding him already...
Philip Gegan is a retired UK lawyer who has studied the financial markets since 1991, and actually trades them for profit. You too can make profits such as 70% in less than a week on gold at www.onlinefinancialtrading.com