Currency Trading

Courses in Currency Trading

There are many courses in currency trading and we offer one on this site but what makes a good currency trading course? Let’s have a look at some key elements that a course should contain to help you get the right forex education and achieve long term currency trading success.

Firstly look for realism, don’t be deceived by people telling you that you can make a fortune with no effort – you can’t. If you want to get a course in currency trading then it is up to you to learn the logic, understand it, have confidence in it and apply it with discipline, to lead you to long term success.

Here are some points to be aware of when buying a currency trading course.

1. Beware of courses that Claim Scientific Accuracy

There are many courses that will tell you they can trade with scientific accuracy - but they can’t. If there was a scientific theory of market movement, there would actually be no market, as we would all know the price in advance.

Forex trading is a game of odds - NOT certainties and any system can lose money in the short term, that simply the reality of trading.

2. Beware of courses that Use Far Out Theories

The king of these is Fibonacci and trading Fibonacci retracements.

The Fibonacci number sequence has nothing to do with trading and if Leonardo Fibonacci were around today (he died in the thirteenth century) he would probably be bemused at the way financial traders have hijacked his theory and applied it to trading.

The theory was originally used to solve a problem to do with the copulation of rabbits and has nothing to do with finance.

Traders present it as a scientific theory for trading but it is anything but – if it were scientific the retracements would work every time and they don’t they work some of the time but you can pick any retracement percentage you like and it will work some the time – but that’s not scientific!

Other similar theories are Gann and Elliot wave, both claim to be scientific but are not – leave them to the far out crowd and dreamers.

3. Beware of The Track Record

Anyone can make up any track record and many vendors do!

Be cautious when you see one that looks to good to be true, as it will normally be accompanied by the following disclaimer or a similar one, read it carefully:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

If a vendor puts this disclaimer on a track record, they can simulate anything they want in hindsight knowing the closing prices. Of course doing this is a lot easier than trading for real and not knowing what they are!

4. Beware of Courses that Promise Regular Income

How on earth can you promise a regular income from a market that’s so un-predictable?

Not even the best currency trading systems win all the time and all will have periods of drawdown and losses furthermore, you can never anticipate how long they will last.

Over the longer term a soundly based forex trading strategy should make money - but in shorter time frames anything can happen

5. Beware of Day Trading and Scalping Courses

Forex day trading and scalping is simply one of the best ways to wipeout your account equity. Volatility in short term time frames is random, support and resistance levels are meaningless and you can’t get the odds in your favor – period.

If you ever see a day trading system that produces a track record of gains look for the disclaimer we have highlighted in point 3.

Avoid day trading systems!

6. Beware of Courses with No Satisfaction Guarantee

Any currency trading course will make claims and give you the benefits it thinks it will give you and that’s fair enough – but the vendor is asking you to believe these claims and you therefore should have a right to have your money back, if the course does not deliver what you expect.

You should look for a guarantee that offers to rebate your money in FULL with no penalties after a trial period should you not be satisfied.

Get Online Customers

7 Simple Ways To Bring Back

Non Buying Customers To Buy

From You Again And Again

The worst thing you can do in business is sell

a one-off product.

Why?

Because there is no reason for the customer after that.

That whole scenario is deadly. Especially if a marketer has

thrown everything to generate the lead or prospect.

What type of companies or business owners have lucrative,

attractive, fun businesses and... the lifestyle to match?

Yes, those businesses who deal way beyond a simple one-off

transaction. These business owners deliberately and strategically,

create their enterprise to have an ongoing continuity or

membership to it.

However, monthly memberships is not the only vehicle that

will keep a customer coming back for more.

If products are created on a monthly basis and rolled off

the shelves, that would be reason enough for prospects

and customers to stick around and hear what you have

to offer. And when that happens, there's a business being

built. There's equity. There's value created in the most

important aspect of a business - the customers.

However, what if you have a business where you have no

real accurate records of your customer transactions, their

purchases, what date they spent their money with you...

and... you know that a number of previous customers are

no longer contacting you... what then?

How would you boost the value of your business? How

would you create momentum and do it without breaking

the bank?

Well, what seems to be the obvious, economically sound

choice is to contact the previous non active customers

who have previously bought.

Yes, it's that simple.

But how would you approach them... what would be a

non threatening way of getting back in touch with them?

Well, as it's 5-7 times more costly to get a new customer

than it is to sell an existing past customer, we need to

develop a programme of getting in touch with these past

customers.

Here are 7 ways to get back in touch with previous

customers who have purchased, but have not recently

invested in any products or services.

1. WE MISS YOU - a simple straight forward

communication along the lines of the following,

"Dear Jack, we haven't seen or heard from you for a

while now and wondered if everything was alright".

2. FREE GIFT - BUT THEY NEED TO CALL IN - A simple,

harmless warm letter asking the customer something like

"Joe, as we haven't heard from you we thought of

sending you this gift we have right here on our table,

and... it's got your name on it. All you have to do to

claim it is to bring this letter in to the store, or enter

the code on the website and we'll rush your gift to you..."

3. A COMPETITION - Competitions do crazy things to

people. They just want to win the damn thing! How

about something like - "John, though you're a customer

of ours we haven't heard from you or 37 other

customers, for several months now. We hope that's

about to change. You see, we're giving away a super

prize just to see which one of you will respond the

quickest to this letter... "

4. WRONG LETTER TECHNIQUE - This is a little sneaky.

Though, if you've the courage to pull it off, simply

plead insanity if you get called up on it, okay! The

wrong letter technique is where you send a letter

knowingly to the intended person, though with

someone else's details on it! Here's how I will

explain it.

A letter addressed to say, Gary Smalley but with

someone else's information on it', can be used in the

following way. "Dear John, thanks for visiting our

webstore last week. We were a little concerned that

we hadn't heard from you for a few months now but

were overjoyed you responded to our 'free gift letter'.

And, that letter was sent to you because we hadn't

seen your name come up on our special purchasers

list for a while now..."

I think you may get a call from Gary Smalley to be

added to your now 'current spending' customers file.

5. OUTRIGHT BRIBE - Like the word or not, it works

pretty well in promotions. It's amazing what people will

do when you give them something for free. How about,

"Jake, we're hope you're well because we haven't heard

from you or seen you in a while. So, just so that we can

see you again, we're going to ask you to accept two

wonderful free gifts, are you okay with that?.

6. LAST PURCHASE LETTER - This approach simply

acknowledges that he customer hasn't been buying

for a while and that she should doing so again.

Something along the lines of "Jennie, we've noticed

that you've not made a purchase during the last few

months. So, in order to win you back and get you back

on the website again, I want to gift you something that

will pretty much astound you!"

7. ASK FOR A TESTIMONIAL - Even though we've not

heard form a certain bunch of our customers, there's

nothing stopping us from writing to them about their

past purchases! Something along the lines of "Hi

Trevor, we haven't heard from you or seen you in

our webstore for a while now. And, looking at our

records Trevor, you bought something from us nearly

8 months ago. We'd like to ask if you have used the

product and would like you to tell us your thoughts..."

As you can probably imagine, there are numerous ways

to get back in touch with previous paying customers.

All it takes is an appreciation for the residual value of

a client, and, the sending out of one of the above letters.

Nothing could be simpler. And that's where most non

savvy marketers and business owners fall down,

purely because of the sheer simplicity of it all and

because of the inherent value of a past customer,

it just makes good economic sense to get back in

touch!