A forex FXCM Markets training course that is suitable for beginners should contain three key elements. It should contain a well-tested trading strategy, effective money management or risk management, and the right trading mindset.
The foreign exchange currency market has a volatile environment. If you are a beginner or have never taken foreign exchange trainings, fx classes or technical analysis classes, it is easy to lose a lot trading on the forex market online.
There are many forex courses. Be aware of those that offer only basic forex strategies and indicators. They may not equip beginners with the knowledge they need to trade. If the forex strategies are given by unlicensed forex traders, it is even worse.
A forex course that is good should include the following:
1. A proven and tested forex trading system. These strategies must have at least 60% to 70% winning chance in all market conditions. These trading methods should have been tested repeatedly over a longer period with scientific testing lasting at least 5-10 years. Due to lack of resources, expertise, and facilities, few self-taught currency trader can afford to test foreign exchange strategies with this approach.
2. A good money management or risk management program. Warren Buffet’s #1 investment rule is “Do NOT lose your money!” It is crucial to safeguard your capital. Good money management is essential for a good forex strategy. Risking more than 5% on any single trade is not a good idea. If a forex trader uses a strategy that gives him 60-70% of the chance of winning from 100 trades in the online forex market, he or she will win more often and lose less money if they trade the same amount of money all the time.