Is coaching in Forex useful?

Discussion in 'Newbie Questions' started by SweetPrincess, Aug 8, 2017.

  1. SweetPrincess

    SweetPrincess Trader

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    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?
     
  2. JimTatum

    JimTatum Trader

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    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.
     
    hakuna matata likes this.
  3. ashouq

    ashouq Active Trader

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    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.
     
    hakuna matata likes this.
  4. leenzen

    leenzen Active Trader

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    Hi
    Mt4 latest build version De-compile software any recommended? need to buy
     
  5. ashouq

    ashouq Active Trader

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

    profitwithpips Trader

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    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.
     
  7. Rayford Adam

    Rayford Adam Trader

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    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
     
  8. PolinaPolly

    PolinaPolly Trader

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    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.
     
  9. larry_009

    larry_009 Newbie

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    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.
     
  10. Ray316

    Ray316 Trader

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    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.
     
  11. DT77

    DT77 Trader

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

    hakuna matata Newbie

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    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.
     
  13. DT77

    DT77 Trader

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

    Petez_FX Trader

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

    Steveday Newbie

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    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.
     

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