I remember sitting in the presentation room, having been invited by my friend along with his cousin to attend another one of those wealth club seminars and this time around it was yet another trading course that was being sold. These kinds of overpriced trading courses along with those which are sold online make for the worst way you could ever pursue your education if you wanted to learn how to trade CFDs. Sure, you could very well learn some of the basics about how trading works and some strategies (the names of the strategies and maybe how to implement them), but because that information is indeed basic information you can learn while you’re trading independently, the fees you’re made to pay for the course effectively become a waste.
So here’s what you should do – it probably doesn’t really happen that much anymore though, because people have become wise to there being no real need to sign up to these many trading courses on offer, but attend these presentations as you might normally do and read through the online sales offers for trading coaching and courses. As soon as you come across the most convincing of these offers and you feel like you should whip out your credit card to “invest in your education” in this way, stop right there and take into account the amount of money you were about to spend. If the trading course, “mastermind,” “intensive,” “bootcamp,” or whatever else these gurus name them these days, was going to cost $997 for instance, don’t pay that $997!
Rather, move away from that presentation or offer and you will have determined the amount of money you’re willing to use as part of your online CFDs trading education. $997 is not uncommon for training courses of all kinds these days, as part of the broader Make-Money-Online (MMO) niche, often referred to as a “big ticket” offer. However, if you were perhaps contemplating buying one that was going for $197, $97, etc, then that is the amount of money you’re willing to invest to learn the ropes. Again, don’t buy the actual course, no matter how convinced you were by the sales material.
This money which you were willing to spend should rather be spent as money with which you’re going to practically learn the ropes. Using the popular trading platform, Metatrader 4, you’re going to learn how to trade online via free training material like tutorials shared by other traders and authorities, videos, etc.
The bottom line is YOU must go through the fundamentals of strategies such as swing trading, using candle sticks, technical trading, etc, with the real money you would have otherwise spent buying a training course. Consider this money you’re willing to lose, because that’s likely what’s going to happen, but something else which is going to happen is that you’re going to learn how to trade in the real world, using real money and so any lesson you learn along the way will stick with you and eventually lead you to becoming a profitable trader.
The ultimate reason for this approach is that trading success requires an approach which is as unique to each individual as their fingerprints are!