The Shocking Truth About the Forex Trading Industry!


by Scott Shubert - Date: 2006-12-17 - Word Count: 460 Share This!

You won't have to look far on the internet to find an endless barrage of web sites promoting the glamorous seductive lure of Forex trading. Unfortunately most people who are new to the Forex world have no idea what they are getting involved with when they start to investigate this exciting business. The first thing to be aware of is that when you enter the Forex world you become a customer of the Forex industry. And the second thing to be aware of is that the industry is driven by brokers. A quick search on the internet will uncover numerous Forex trading seminars, Forex trading courses, e-books, alert services, software, etc. What many people also do not realize is that when you study most of the training programs on Forex trading, almost all of them are connected with the broker industry and are at least an "introducing broker" for one of the Forex brokerage companies. What this means is that the material you are studying on how to trade may have an agenda that is different from your own. Because the training material may exist solely to get you to trade with a certain broker and the creator of the training program will then make money from your trades, the type of trading that is taught may be intentionally oriented toward a style that makes the most money for the broker and the introducing broker.

Obviously your agenda for getting involved in Forex trading is to make money for YOU not the broker. Therefore it is critical that, when you become a customer of the Forex industry, you are very discriminating and selective about what products and services you choose to purchase. How can you learn to truly master this art and science amidst this confusing maze of advertisement? One way is to seek out traders who are already successful and interact with them. Form a mastermind group in your area and/or participate in an online mastermind group. Look for educational and training programs that are not connected with the broker industry. Before you invest in a Forex trading seminar or Forex trading course, find out if the creator of the program is an introducing broker. Another thing that many newcomers to Forex trading do not realize is that the most useful information on trading may not be specifically about Forex. Trading strategies and technical analysis can be applied to any market and some of the best material on trading has been around since before Forex became the current rage.

Don't be seduced by the current explosion of advertisement. Take your trading education seriously. Take your time and develop a long term plan for success and you will be able to enjoy the exciting benefits that the Forex market has to offer.


Related Tags: currency trading, forex trading, forex, forex broker, forex trading course, forex trading seminar

Scott Shubert is founder of http://www.tradingmastermind.com a community of forex traders committed to contributing to the success of the whole community. http://www.forextradingseminar.com The most comprehensive forex trading program available that reveals the secrets that forex brokers may not want you to know.

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