The capital markets are going nuts with COVID-19, and at the heart of it all is the forex market. There is no better time than now to begin your forex education! For those of you that already started, you made a smart choice, but do not stop, you need to continue educating yourself in forex trading if you want to get an edge.
Why is education so important? Why do I sound like some parent harping on about education? Why do I sound like a cheesy celebrity saying the standard “stay in school” line?
Well not educating yourself can have severe consequences. I will share with you some history which will illustrate how the uneducated entered the market then lost everything and why we do not want this for you.
The earliest recorded boom, the Tulip boom, everyone thought the prices of tulips would go up forever. It did not and many lost everything when the prices crashed.
The lead up to the Great Depression, everyone thought the stock market would go up forever. It did not and we had the Great Depression.
The Dot Com bubble, everyone thought everything with Dot Com would infinitely rise. The party crashed and many lost everything.
The 08 Crash. CDOs, housing would never crash… you get the picture.
Bitcoin and crypto… now people are calling the Elon Musk scam (but there’s more to this)
These things come and go. There are more I could add to this list, but that’s a whole article piece (more like I can write volumes!) itself! But you understand the point. During these points, the forex market was working behind the scenes and forex traders were profiting.
Alas, you had forex traders who also lost a lot. But you had forex traders who gained a lot too. The differentiating factor? The ones who gained were educated about how forex trading works and the ones who lost were not.
While the education shows you there are patterns that do repeat themselves, as the ones I illustrated. How the market reacts, and therefore how you react must change — in order to know how one must adapt and how the market can do so and how a forex trader can do this. That is why one should begin their forex education, so they can turn on that lateral thinking in that trading zone.
Selecting an educator is much like selecting a broker, you want to vet the people and establishment you will be giving your money to.
First do they have other students? If they are afraid to let students interact with each other through a community or have no consistent success stories, then you might want to consider turning away. This is a sign that they are snake oil salesmen rather than educators that want to genuinely help begin your forex education and establish a career trading forex.
Second what is their progression like? Do they have an aftercare system? If they have no real way to guide you during the education or even after yet seem extremely energetic about getting you to sign up then they simply want your money and do not care what happens after they sign you up… until they have a new program or bolt on they want to sell you.
Ultimately, what you require is a company with strong principles and basic business ethics.
City Traders Imperium is one of the few companies that do not want you to end up like the ones that lose out like those in the scenarios I outlined. Hence, they would like you to be a begin your forex education with the notion of becoming a mastermind who can fluently navigate the forex market.
They believe in their education so much that they are willing to fund their traders and still coach them if the trader feels they want to continue educating themselves in forex trading. This is because the learning in the market never learns. As you will notice in many trading literature such as Market Wizards series by Jack Schwagger which colligates text from other traders alongside many interviews from many traders, you will find that the learning never really stops.
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