If this post finds you or if you find this post before you’ve been lured into some CFD or forex trading course, mastermind, training session, or whatever else they call what is essentially some training offered at a premium, count yourself lucky. You have saved some mega bucks and you’ve saved yourself a lot of frustration too, because about 99% if not all of these courses are nothing but a way for someone who might have themselves failed at making money trading CFDs consistently to “get their own back” and make a bit of money.
Trading courses are probably still big business to this day, although since many people have become wise to what is essentially a legalised, huge con behind them, fewer and fewer people are managing to avoid getting sucked into the rush. If you are one of those people who have bought a trading course, particularly one of the more expensive ones labelled “big ticket” programmes, don’t be chagrined. Think of the whole exercise as a learning curve.
Now though is the time to knuckle-down and start making some real headway with regards to your quest to learn how to trade profitably. You’re probably going to find that what you were taught may very well have some place in the trading world, but as is the nature of the trading game and the markets which are being traded, things are dynamic. What might have worked a mere day earlier may not work a mere 24 hours later…
Start accumulating hands-on trading experience
Think of this post-trading course foray into what can be the very lucrative world of trading as starting afresh, learning the basics from scratch, except this time you’re going to go the practical route with your education. You’re going to trade with real money and make real mistakes which form part of immersing yourself in real-world market conditions.
Sure, demo accounts are perhaps great at giving you the basics of the technical side of trading, like learning exactly where to click if you want to open up a position, going long or short on that position, closing the position, setting up a stop-loss, etc. That’s as far as your entertainment of demo accounts should go though.
What you should rather do is open up as trading account, holding nothing back in terms of the most popular platform and using Metatrader 4. From here and on you’re going to learn by doing. You’re going to pick out any basic trading strategy you may have come across, either as part of your expensive training you bought or as some freely available information online. The point is it’s all the same.
Implement, implement and implement some more! This way, patterns start revealing themselves to you and an underlying strategy which falls in line with the real-world market trends starts forming and in no time you will have realised that all that winning at the game of CFDs trading required was a discovery of your own, personal trading style and strategy, which is only the preserve of those who get busy trying stuff out.
Trade only with money you’re willing to lose, however.