Found this on a website today ........
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My advice for new traders is simple - Don’t ever spend more than £500 on any seminar. - There are some good ones below that price. The right ones can certainly save you considerably more than that by just introducing you to the basics and financial control.
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Never attend a seminar where someone is going to show you their theory or their system ( they are looking to part you with your funds only !! and it gives them an ego boost at the same time)
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Never attend (and definitely never pay) for a seminar which is run or organised by any software company or by people promoting a software package -
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the following springs to mind Martin Cole - Updata - Traderhouse - who are all selling software packages and data feed - and locking you in to their systems - there are far better packages totally free - if you look hard enough! - I've no problem with courses recommended or free from Spread Betting Companies such as IG index Finspreads -index - Tom Hougards (Free ones only)
Never pay £2-3,000 for a course in the beginning
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- Vince Stanzione and Darren Winters are two prime examples
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- Read
www.trade2win.com boards. Never join American Courses in this Country - They are pretty expensive and usually pretty poor with the orientation to USA established ideas - The UK mentality is different.
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(Good courses don't ever hype.
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If you have paid that amount you have to start betting in £10 or £25 stakes - you will soon learn the truth if you start at that level!!
Never forget there is no mechanical trading systems that will work consistently over a period - so don't start investigating them :idea: - The Goldline system is a sample. Your just opting out looking for someone else to blame when it goes wrong - (And it will)
Intelligent traders learn to trade themselves- and it takes time. Takes seven years to be a "Beginner" Doctor or Lawyer - Don't expect success if you don’t personally put in the effort. Aim to train yourself within a year - and you are doing brilliantly -
Don't start off at a complicated area which demands your time in front of a screen and requires skills which can only be learnt by practice
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- Example Level 2 - Why not start with simple spread betting at a low level - Not 1p a point - that’s rubbish - and they don't allow you to put stops and limits on at that level - so its a total waste of time!!
Try and find someone at the same level on a BB
www.trade2win.com being the best - Download MSN messenger and/or
www.icq.com so you can talk online and share experiences with them. Don't listen to any tips or advice on what to trade - forget share tips - learn to select your own. Rely on yourself not others. Develop a keen interest in trading – if you cant – don’t trade –
Remember as a beginner there are a sea of Sharks waiting to promise you the earth, the sky, the dream, the yacht – They are selling you fantasy
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– They build pictures in your mind – They sell the sizzle that if you spend this then you will get this lifestyle…..Always counter it with - If I lose this then……
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. Remember that spreadbetting and trading is just a short step in your journey to the Forex Fields - Z