An introduction / advice please.

[SirJust]

Afternoon all.

I am new to this site and would like to introduce myself, and more importantly ask for some advice.

Last year a friend of mine convinced me that Crypto Coins are the future and I was to invest in BitCoins. After studying the volatile markets, whilst attending online seminars (mainly detailing ForEx strategies), I quickly learned two things:

1. Crypto currencies are too unpredictable.
2. I am obsessed with the concept of trading.

I recently applied for a job where you can "become a trader" and "we will find you talents", although being successful in my first interview I was left a little uneasy with the concept. Long story short, you pay in excess of £2000 for a month or two training and then you will be equipped enough to trade their money.

My heart wants to risk my stable job any steady income, but my head says to avoid at all costs.

Any advice would be greatly appreciated, in the meantime I will slowly teach myself the basics skills I require in this new chapter of my life.

Thanks:clap:

 

[timsk]

. . . My heart wants to risk my stable job any steady income, but my head says to avoid at all costs.

I think you've answered your own question SirJust. Keep in mind that many firms that offer the type of deal that you've described are little more than the trading equivalent of vanity publishing outfits of old. Caveat emptor and all that. If you are tempted to part with your money, be sure to have a long hard look at these FAQs first: Can You Recommend a Mentor, Coach or Trading Course? and How Can I Distinguish Between Scams and Reputable Vendors? Many experienced traders would tell you that you'd be mad to give up a good job with a steady income for an offer of this kind. If you do it, my advice would be to go into it with the assumption that it won't work and that in six months time you'll be without a job and £2k down. That may sound negative - but actually it's just doing what all good traders do - which is to evaluate the known risks to the best of their ability and factor in a worst case scenario. If that thought is unpalatable - follow your head!
Tim.
PS. Welcome to T2W!

 

[Mr Fox]

Afternoon all.

I am new to this site and would like to introduce myself, and more importantly ask for some advice.

Last year a friend of mine convinced me that Crypto Coins are the future and I was to invest in BitCoins. After studying the volatile markets, whilst attending online seminars (mainly detailing ForEx strategies), I quickly learned two things:

1. Crypto currencies are too unpredictable.
2. I am obsessed with the concept of trading.

I recently applied for a job where you can "become a trader" and "we will find you talents", although being successful in my first interview I was left a little uneasy with the concept. Long story short, you pay in excess of £2000 for a month or two training and then you will be equipped enough to trade their money.

My heart wants to risk my stable job any steady income, but my head says to avoid at all costs.

Any advice would be greatly appreciated, in the meantime I will slowly teach myself the basics skills I require in this new chapter of my life.

Thanks:clap:

Thank you for the PM SirJust, I've just re-read the thread.

http://www.trade2win.com/boards/trading-firms/185674-traders-required-london-based-firm.html

I guess my initial chastising still stands.

What you need to realise is that trading is like anything, you can not do a 2 month course, and become a proficient trader, and these guys know it, and can even guarantee £10k to individuals, knowing fine well that most learners wont make it, and why is that, well the facts speak for themselves, over 90% fail at this.

Trading is one of the hardest, yet most rewarding occupations out there, and even if you applied for a mundane job as a refuse collector(bin man), even after 2 months on the job, you still wouldn't have picked it up, yet these chaps reckon they can turn you into a proficient trader in that time,

AND are going to charge you for the privilege along the way.

Please be aware that some people do pick it up, like a duck to water(the swine's, yes I am jealous of these chaps),but these chaps are few and far between.

One of the great advantages of trading is demo accounts, and I would urge you give that a go first, and iron out all the creases, so to speak, as in get a handle on a time frame that suits you, a strategy that works etc etc. The markets have a very astute way of exposing all of your weakness's, and are very proficient at exploiting them.

Learning a new skill takes time, and what you need to remember is that "this is a skill for life".

There is so much FREE knowledge on these forums SirJust, and I would urge you to read up, acquaint yourself, and start the "FUN" process of learning.

If there's anything else you would like to know, or require any assistance then please feel free to ask.

Best
John.

 

[SirJust]

John/Tim

Thank you both for your detailed and thorough response. I think I already knew the answer but hearing from someone with with considerable experience has confirmed my suspicions.

I think the problem is that (like everyone) I want to learn quickly and saw it as a shortcut to my education, thankfully I have the foresight to reevaluate my priorities.

I am slowly learning that trading is not about jumping in at the deep end, rather taking it step by step, limiting risks.

Thanks again for your time, hopefully one day I can offer similar expertise to someone in my position.

Kind Regards

 

[gerryg]

Long story short, you pay in excess of £2000 for a month or two training and then you will be equipped enough to trade their money.

Go and deposit this money to some offshore or local broker before it's too late. Take some practice on demo and you are in a fighting trim. The unique facet of forex is a chance to get experience along with earning. It is market of predators and main goal there is to OUTSMART. This type of knowledge you'll never get from educational program :cheesy:

 

[tradeforex1]

Well I'm also new here and I really love awesome and fast replies here. Try to work locally for the forex and then try globally.

 

[malaguti]

Try to work locally for the forex and then try globally.

work locally for forex? can you define that in a little more detail, it sounds like a very confusing statement

 

[neil]

English not first language?

Well I'm also new here and I really love awesome and fast replies here. Try to work locally for the forex and then try globally.

Is that a question or a statement?
When you have decided, could you elaborate?

 

[DayTrader Daveyz]

I'd recommend that you be wary of companies that ask you to pay them a fee to train you, and if you are "good enough" then you will trade their money.

A real prop firm will not ask you to fork out any cash and will train you out of their pocket.

You might want to google the company name to find out more first before you give them money. From my experience, companies that ask you to fork out money to pay for education first are more education companies than true prop shops. I've got a few friends that got into some of these types of companies and things didn't turn out well. Not saying that this company is like that but you just might want to be on the cautious side.

That being said if you want to get into the world of prop trading then you have to be prepared for a rollercoaster ride. The journey is mentally tough but the rewards can be well worth it if you do well.

 

[peakoil]

Re "I'd recommend that you be wary of companies that ask you to pay them a fee to train you, and if you are "good enough" then you will trade their money. "

Well ain't that the truth.

999,999 out of 1,000,000 times such fly-by-night "companies" are just another spin off of the old: "Hey there, you're so pretty; don't you know that you could be a model! How does that sound? Being paid to look pretty while everyone else has to slog it for a living. And it's so easy to start: You need pay us only £500 to cover your initial photo-shoot, and we will then take care of the rest - guaranteeing that you will start a long and profitable modelling career..."

Yawn.

Apparently, there are still people who fall for the latter dream, so it's no surprise to hear that similar companies are still around - promising you'll end up a profitable trader, for only a 'small' (& never to be seen again) outlay up front....

 

[jotekfinance]

If you decide to do it, let us know how that one worked out for you. Although, I 1000% agree with peakoil.....

 

[gerryg]

This kind of fraud is widespread in field of trading. the only wa to earn money there is stay independent from the start to the very end