Forex Training providers: what to look for
AiMS are a forex training and trading club based in London
Using techniques successfully taught by a Forex Training Trader takes longer than a one to three day course, thats said and in the bag, you could alike that to learning how to drive safely in a day. If you really only have one to three days to get some knowledge here is a shortened guide of some of the things to watch for.
What to look for in a one day forex course: A trainer with only one day to deliver forex training which would actually benefit the paying recipient should be concentrating on pure basic building block skills.
The building blocks would include core skills such as trend identification, identifying how a trend ends (changes direction) and using the correct data feeds, news, volumes, open interest etc, so that the information level is balanced and not under informed or overwhelming. Finally a little timing so that your newfound skills can be put to work to some degree.
Forex systems and hands off parrot fashion methods require at least a basic knowledge of how the markets move, most are designed for a particular type of trend which you need to identify before deploying your system.
What not to look for in a one day forex course: Sad to say there are far too many Marketers and sales people in the forex training industry with little or no trading experience. I would be strongly concerned with anyone that gathers people in masses, makes you pay for it and then tries to sell you a more expensive course, period.Your really paying to be sold to wally!
Be extremely wary of providers that post pip gains or profit gains screenshots, as a minimum they should be disclosing the entire trading statement with at least a string of trades put together like our statement.
A common trick I have seen used is a demo account is traded both long and short the night before and then the losing positions closed before YOU turn up for your “seminar” , simple but effective once in the grips of a bullying salesman. In a nutshell, its simple to post massive gains in a screenshot, you don’t even have to be able to trade.
I’ve only highlighted a few things to watch out for, there are many many methods used by less than legitimate forex training providers out there, I would recommend you never part with money on the day, beware of highly pressurised sales techniques and overpriced courses.
There is no system, method or automatic signal in the world that makes you a fortune in a short period of time and anyone that says you can make 1-3k a month regularly is either delusional and more than likely has no clue of how a financial market works. Returns are directly related to capital deployed and the markets movements, money makes money.
by Rob Lee Senior Technical Analyst
AiMS Forex Trading and Training Club225 Marshwall Canary Wharf London www.aimschool.co.uk
AiMS News update
AiMS News: Forex, CFD, Stocks and ETF Trader Courses, Training and Education London
Comment from the bottom Rob Lee Senior Analyst at AiMS reports on the companies trading performance and the forex training school in London.
February has begun particularly well for our forex trading operations, amassing no less then 30% ROC (return on capital) in just a few days. The decent in Euro and equities was forecast and recognised way back in September last year with targeted turning areas executed effectively. We have capitalised on AUD, NZD, GBP and EUR descents with extensive use of our hedging matrix system giving a protective positional operation which has proved very successful.
Naturally our stock positions are reduced and CFD trading limited to sell side broadly speaking, we have not entered any new bond positions to date. The outlook for the near term is reduced to Intra-day and scalping trading as key areas are reached and volatility is aggressively targeted.
The forex Training course’s in London continue to be overly successful and we are experiencing demand far greater then supply, some clever scheduling by our unsung hero Marit (Admin & Accountants) has streamlined efficiency and put us back on track to fulfill student demands. Waiting has been reduced greatly and potential clients should experience no noticeable delay in booking and receiving their desired courses.
The private trading club membership continues to grow, and as Alister commented last week in a meeting “we are going to need a bigger boat”, a true statement and sourcing of added space has been a focus. Although not at maximum capacity we are planning ahead of the curve.
Private Trading Club e-library – London
Good news for our club members, as from today you can now browse our extensive e-library, for your password please contact Rob, Ali or our Administration team at admin@aimchool.co.uk
The free e-library which now boasts 63 titles includes classical, theory and practical works from many authors covering subjects from forex day trading to strategical stock trading and everything in between.
Welcome new club members
We would like to welcome M of Palmer’s Green London, an knowledgeable trader with experience. Hello mate, welcome aboard 
B of London, B is an ex-student of Rob Lee’s and joins us to gain more experience, welcome back B we missed you.
Ali is not ill I repeat Ali is not ill… anymore
Alister has recovered from his mumps well although he has lost weight in the process. Poor Ali, our specialist Forex training advisor London, managed to get the worse type of Mumps you can. Fair play to the guy, although ill, swollen and barley able to move or talk still managed to continue his work. Nice one dude, good to see you back to full strength.
Mike Young CFA Dubai bound
Mike Young CFA, Chartered Financial analyst, good friends with AiM School and manager of the trading help desk has flown of to Dubai for a few month to assist in a new start by program. He texted me a few days ago and all is fine. Eyasu and AiMS will be care taking the trading help desk until his return.
GBPUSD Weekly Report published
The GBPUSD forex pair took on a psychological profile on 8th Friday 2010 pausing the recent near term down trend run and re-finding the 1.6043 level after a dramatic 1.6110 high climb as profit taking was evident on the dollar across the board. 1.6043 marks the major trend Fibonacci level 38.2%, the Fibonacci retracement that represents the Pounds recovery from the 2008 crash.
The pounds weakness technically is clearly shown during its retracement cycle of the crash ending its intermediate bull run in August 2009 at the major trend Fibonacci 50% area (Fibonacci 50% found at 1.6831), although a peak of 1.7000 did penetrate the 50% level and was quickly beaten back within 24 hours.
Since then the Pound has shown great limitation producing the head and shoulders peaking 1.6876 (Fibonacci 50% again) and its rocky road descending to its current area around the 38.2%, the most notable milestone was the Bank of England contrasting statements within days of each other back in November.
Our Performance this week
Well we was caught out with this sudden “spike”, we gained what we felt where excellent positions above the major term 38.2% and one just below monitoring the positions we took profits on our primary short as the GBPUSD pair slowed around 1.5900 and felt technically and in terms of risk we where ahead of the game.
Booking our first profits and leaving the low risk trade just below 38.2% Major we relaxed (our traders turning on to other securities mainly stocks) the price action would not find the level again and would target its next major Fibonacci (A Dow Theory 33% at the 5700 area) after a struggle, this was confirmed with channel trend support.
The rest is now a learning tool and history as we managed to turn a 8k equity profit into a lowly 4.6k profit, see our weeks
trading statement of our 2010 Forex fund here >>
Our working chart for this week >>
Major trends: red Intermediate trends:blue
