Online Trading Academy: Whats In It For You?
The main question we ask someone who offers you something thats too good to be true: whats in it for you
? Indeed, when you consider applying for a course through an online trading academy, this should be foremost in your mind. Everybody is looking for the mother of all codes that will unlock all the secrets of stock or currency trading market. Does it exist? Thats part of the allure of trading, the journey of trying to find your own system to beat the system.Learning the rules
How else can you come up with your own system if not learning the current system and finding out what works and what doesnt? Most of the students of the academy are retired and want to invest their retirement money while also allowing them to experience that rush of online currency trading. Interestingly enough, most young people prefer to self-study from the rich source of material on the Internet and do-it-yourself books. But theres nothing like structure to teach you how to improve your trading performance and better manage your account.
What is the trading philosophy?
One of the most common principles that you learn when you take the course is that there is much more to forex market than meets the eye. The buy-and-hold approach has served many investors well for the longest time. The approach is another term of long-term investing, which means you purchase a stock, currency, bonds or commodity and just wait for the right moment when the value is at its peak and you get the largest margin of profit before selling. The underlying belief with the whole philosophy is this: the market has always been on the upward swing, despite some minor setbacks along the way, when you ride out the movements, you will always come up on top in the end.
But following this approach leaves you out of the many opportunities in online foreign currency trading. If you can follow the price trendsthese market turning pointswouldnt you make more money if you make the right decision? The equation is simple: more buyers, price goes down; less buyers, price goes up. When you can determine when the market turns the corner, you can then sell low or sell high.
Is it a scam?
Which brings us to our first question: whats in it for them? Make no mistake about it, they do earn when somebody enrols in the program. But the better question is whats in it for the investor, meaning you? If the lessons give you a clear guidance on how to improve your performance and actually earn a profit, is it even important that the online trading academy earns a small income off your back? Think of the expense as an investment that you can recoup once you earn money from the forex market.
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