Is coaching in Forex useful?

[SweetPrincess]

In order to be successful in the business, we must have to gain knowledge and experience.
How useful this coaching will be? Do you think coaching can turn me into a successful Forex trader?
What do you think?

 

[JimTatum]

Hi,
As a new trader, you need to learn all the basics of trading. You can implement your strategies in your demo account. It takes so much time to learn the strategy that will work for you. It is also good to learn from the professional traders. But you have to find the right person to learn. They can give their experience and you will get the ideas which improves your trading skills.

 

[ashouq]

Having a mentor is always helpful because they are able to foresee the associated risks with any investment and can help us manage it with their experience.

 

[leenzen]

Hi
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[ashouq]

Hi
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I was wondering if this was any relevant comment in this thread..?

 

[profitwithpips]

I am a Forex coach for a Trading educational program called Girls Gone Forex.... all my students say coaching is very beneficial and is the difference between them being profitable and not. Being a coach has helped me to understand how different traders think and how many perspectives there are when looking at the charts. I think coaching will help any trader new or old to stay focused, gain insight about the market,with technical and fundamental analysis and to hone in on a great profitable strategy. Make sure your coach has ample trading experience.

 

[Rayford Adam]

In order to be successful in the business, we must have to gain knowledge and experience.
How useful this coaching will be? Do you think coaching can turn me into a successful Forex trader?
What do you think?

Hi, you can learn about forex yourself from here: https://www.babypips.com/learn/forex and also open demo account, if you want to understand more

 

[PolinaPolly]

I guess, some people really need a coach as they cannot or just don't want to begin themselves. And I agree that it's really a challenge to find the trustworthy coach (as everyone can create beautiful websites and write good comments about themselves), so one need to google carefully to find the truth.

 

[larry_009]

In order to be successful in the business, we must have to gain knowledge and experience.
How useful this coaching will be? Do you think coaching can turn me into a successful Forex trader?
What do you think?

Yes, I would definitely recommend a forex coaching, for it will provide you with the expertise of taking various trade related decisions. By undertaking a forex coaching, you can become proficient with how forex really works. When to make entries and exits, reading the current trend accurately, how to set up take-profits and stop loss, reading forex signals, it can give you the entire knowledge.

It will also help you in dealing with the forex attached risk management and money management. All in all, a coaching can make you grab a good hold on forex profits, however, practicing it side by side is the main key.

 

[Ray316]

I think you'd be better of "coaching" yourself than actively looking for others for such things.

The main reason is this - You know yourself better than anyone else ever will, you know which tips will work for you, you know what you hope to achieve, how you intend to do it, what you plan on risking and so on.

Most online coaches will approach you like they do anyone else - with their methods and tricks.
Methods and tricks that may not be useful to you.

Learn whatever you can on your own - and only fill in whatever blanks are left once you feel more or less complete with FREE resources, not ones where a person or company want to PUSH something upon you.

 

[DT77]

I agree, best to teach yourself for free. Plenty of free learning resources out there......

 

[hakuna matata]

Yes , its all about learning in forex. There is no end to end. Even when you are able to make consistent profits there will still be a lot to learn each day.
You can learn from so many sources around you , refer to books on forex trading , articles in newspapers and magazines and interact with those around you who trade forex. They will provide you some great tips to trade in a better way. You can also try out YouTube tutorials. All that is available for free.

 

[DT77]

If you don't keep learning you will be left behind. Trading is an ever evolving animal....

 

[Petez_FX]

Plenty of free content out there to coach yourself. However some people learn in different ways and have to be sat down and taught.

 

[Steveday]

I would say that you are best off learning yourself. There are so many great free resources on the internet that you should be able to gain a good knowledge of forex. Of course, once you start trading it is totally different and that's why it is essential to open a demo account before you start to deposit money.

 

[momo3HC]

I don`t believe in mentoring. Only a close to you person can be some kind of mentor but even then you'll need to educate yourself by your own. So better try your own way.

 

[hayseed]

even without a coach or mentor, nadia comaneci might have won the 76 olympics..... but would she have made those perfect 10's.....
surely coaches and/or mentors must be beneficial to some degree.....

in forex, we don't necessarily need to employ a paid for coach/mentor..... their are thousands for free.... and they don't even know it.....

traders can almost be divided into 2 groups...... only a few habits separate the haves from the have nots...... study each groups habits and compare.....

the have not group will invariably use, large lot trades against the trend with no definable targets......... along with an ego as big as their mouth...... that's like standing in directly in front of a speeding train screaming it's going the wrong way.....

the haves group will usually be the exact opposite......

mimicking the habits of the haves group while avoiding the have nots, will keep you on the right side of the tracks..... then you become the mentor..... and you won't even know it......h

 

[DT77]

I think the problem with 'mentors' is that many of them are scammers and give the legit ones a bad rep. Unless you know the mentor personally I think they should be avoided.

 

[georgequayle]

In order to be successful in the business, we must have to gain knowledge and experience.
How useful this coaching will be? Do you think coaching can turn me into a successful Forex trader?
What do you think?

should be able to learn by yourself, theres enough free resources

 

[momo3HC]

should be able to learn by yourself, theres enough free resources

Exactly the best way for me too.