Sunday, May 27, 2007

Forex Preview

I was introduced to this forex preview by my brother-in-law about a month ago. He has attended the course and his practise account has apparently been doing quite well for a month's trading. I have hesitated for a few weeks whether to go for the preview as I know the actual course is very expensive.

Curiousity finally got the better of me and I decided to sign up for the preview. I reckon there is no harm since the preview is free and has no obligation. My bro-in-law won't cheat me on that...LOL... So I went on to attend the preview yesterday evening.

I learnt from the presenter, David, that the company sources for powerful Forex strategies and bring them in to Singapore. They taught these strategies to their members to learn how to trade in Forex successfully, even if you have no prior Forex knowledge, like me. I have heard quite a bit about Forex from others prior to the preview, that Forex is extremely risky and can burn a big hole in your pocket if you do not know what you're doing.

I must say I'm quite impressed with David. He's not the typical salesman who will promote you something by telling you all the good of it. He mentioned that Forex trading may not be for everybody. E.g. if you're the kind who cannot even stand 1 loss, then trading is probably not your cup of tea, 'coz when you place a trade, you're automatically on the losing end due to the spread of the Bid/Ask price. He also explained that real trading can be different from practise account due to emotion factor stepping in (how true!). He doesn't give you unrealistic expectations that you will get rich quick with forex, just plain simple facts. So I'm quite happy with his presentation.

He went on to explain a little on what we will get with the course, etc. I was especially interested in the automated trading system that he mentioned. That will definitely be my target after I've got enough profits.

After we complete the course, we are expected to perform trading using a practise account (with live data, of course) for at least 3-6 months to familiarise the strategies taught. The stratgies they brought in have a success rate of about 80%-90%, pretty impressive.

I've signed up the course after the preview. Although it pains me to part with my money (especially since it's not a small amount), I reckon it's still worth a try especially if I were to pick up a skill that could earn me a nice little income down the road.

I will be attending my first class next Sat. I'm eagerly looking forward to putting my hands into the trading and seeing the results myself. So stay tune to this blog if you wish to know the results of the strategies taught.

A little more about what you'll get for signing up the course:
- A personal 1-to-1 coach to answer your questions and guide you along, should you need help with the trading.
- Unlimited re-attendance of course within 6 months till you really drill the strategies into your head.
- Sharing the course with up to 3 other of your immediate family members (econmoy of scale).
- Money back guarantee if you do not show any profits in your practise account after 6 months of trading in a consistent manner.
- Signing up for the automated trading system which does all the trades for you, hands free!

If you're interested to go for the preview too, just drop me an email at mtebiz@gmail.com with the subject "Forex Preview" and I will get back to you.