The Value of Education in Online Forex Trading.

Education is a rope that can carry us to greatness. It is one of the most important things in life, because without it, you can't contribute to the world or earn money, and do not have knowledge. Knowledge is power, so when you know what you can do, you can go that mile further. This article addresses that issue and tells how to find the importance of education and what is the worth of quality education in forex trading?

Let me spell out three scenarios:

Driving from Ojodu/Berger, Lagos, the first turning on the right has a ‘NO ENTRY’ sign for motorists. A good one by the transport management authority to educate the motorists and ensure an effective traffic control, I suppose, but in the middle of that sign is  the non-conspicuous time of ‘from 4pm.’ I wonder why that important time limit will be written in such a small size font. Then, what is the essence of that road education? Punitive?

I tuned my car radio and a programme in which an official of a forex brokerage company was reeling out the importance of education in forex trading was been aired. The PR man made notable points as he stressed the importance of education in forex as the very basic step. A good one! But in my mind, I disagree with their training structure. I do not see it taking traders to their desired goal. My doubt also stems from the fact that brokers and traders might somehow be strange bed fellows. I can authoritatively confirm that an account under that broker’s PAMM scheme for two years, which yielded nothing other than a 20 per cent shortfall in investment, was doubled in six weeks under my management. The client found it incomprehensible.

Thirdly, the craze for foreign education outside Nigeria calls for serious concern economically, especially when one thinks of its effect on capital flight. From the three examples above, the first shows an attempt to educate but still something is hidden. The second points to getting your education at the right place and probably not with a ‘rival’ and the last speaks of how people seek better knowledge if affordable to them.

In relation to this article, readers have to be informed that getting a proper education now in forex trading, which removes all fear of losses, teaches proper risk and profit management, technical and fundamental trading, good trading strategies, is all they should seek. The time frame to cover all of this cannot be in short seminars of a day or few days.

Forex trading involves investment, hence the need to guide your capital. Traders go into the market as speculators to make profit. This is the ultimate aim and if that fails, discouragement sets in. From my experience on feedback since writing here, I do not encourage those who seek materials on their own to trade in forex.

Irrespective of the cost, I recommend mentoring from an experienced trader. Some that called to find the cost of training, which at present is less than $500, complained that it was expensive and I advised them to try the Online Trading Academy in St. Albans, UK or the branch in the US.

Not taking them far again, I do even ask for their permit to recommend cheaper ones around. Some take it in a bad stride as if I am haughty. But the answer is that going into forex trading in which you expect to make money, if not a living, dictates that you should shun quack training for a quality one; but the choice is yours. I would not compromise standard. I wonder why someone investing close to a million naira if not more would shun good training because of a fee that is less than 10 per cent of his or her investment.