Trading Education - The Big Secret!

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When you 1st start out trying to become a trader you will soon run across the trading seminar circuit or industry, these are the TV ads, websites, newspaper and magazine ads that promise to teach you how to trade "RISK FREE!"

Wow, that is quite a promise, but it's not exactly what you might think, I have to admit it fooled me for a long time as well, let me explain.

When they say "we will teach you how to trade risk free" YOU may think that they are going to teach how to trade your money in a way such that there is no risk that you will lose some or all or your money, ha, ha, ha... that's what they want you to think but it's far from the truth

What they really mean is that they will show how to use a virtual or paper account (something that does not uses real money) while they teach you the trading system or strategies

Yes it's a very big advertising scam act which is performed by ALL the big trading seminar companies

You need to understand that there is NO such thing as trading risk free, at least not when using real money.

The other big issue with the big trading seminar companies, and I think it cuts across the whole board, stocks, futures, options, forex, eminis, bonds, gold, oil etc, is that they constantly feed you the line that education = trading success, which is really not the whole story

They try and brainwash students into the mentality that the more education they get the better trader they will be come, nothing could be further from the truth, they do this so that that can continually sell you more and more expensive courses and seminars

The fact is when you first start learning how to trade you need to learn some basic information, the background, the essential rules, the basic indicators, risk and money management etc, but after that more education simply makes you a more educated student, not a trader

The only way to become a great trader is practice your craft by trading, either in a paper account or by trading very small lots or shares so that you can master the skills required before you blow out your trading account, as many people do.

The best analogy I can think of is golf, which is really a game of skill with an element of luck thrown in. You can watch all the training videos, watch the play on TV, read the magazines, learn all the rules but if you don't get out there and practice you will never play golf well