Forex Mentor Course – My Full Story

I began my first forex trade three years ago, at this time, information sources of trading available were very limited, I could not get the the suitable information on online forex course for free trading to allow me to begin a live forex trading successfully, all my sources of information and trading strategies were obtained … Continue reading “Forex Mentor Course – My Full Story”

I began my first forex trade three years ago, at this time, information sources of trading available were very limited, I could not get the the suitable information on online forex course for free trading to allow me to begin a live forex trading successfully, all my sources of information and trading strategies were obtained from forex forums posts and the trial and errors of former forex traders and their trading strategies, which were evolved to suit their needs and their potential financial capabilities.

I had a long time with a forex demo account for several months, I did not dare to enter into a real live forex trading, because my capital was very limited, and there were no free online forex courses which I can get to help me in my trading. But one day I landed on a website which sell a forex training course package, this website claimed that the its strategy results in a profit rate around 80% in all cases, I read more on this course enough to to be motivated to buy it, especially its price was very suitable to me ($99 total for the 5 ebooks). Once I got the ebooks, I began reading every single word in them with voracity, and – for honesty – it was the first time for me to read in details about forex money management and risk management and their vital rule in forex trading, but this was all I had gotten from this course, nothing otherwise.

I tried to contact the author of the forex course to query him about several points regarding his training program, and guess what? I did not get any response from him, I contacted him up to 10 times, however I did not hear one word.

This was the lesson #1 I learned: It is not about the training program, it’s about the AUTHOR of this program, is he alive man? is he a real forex trader OR: he’s just a teacher of theoretical lectures in forex trading!

The lesson #2 I learnt was: What is degree of the technical support provided after purchasing his forex training program? shall I find him when I need him?

After a whole year, I would have left almost forex trading and preoccupied by other businesses, but one day while surfing on the internet, I found by accident the Forex Mentor website, and once landed on the main page, at the first sight I cynically laughed and said to myself: “Another Scam!!”

However, I started reading all the information on his training program and the main idea behind it: Pivot Points. I began once again thinking seriously to return to forex trading, and decided to purchase this program of Peter Bain, but for the first glance, I was disappointed for its high price ($495 for a hard copy on CDs, or $349 of the digital copy). After a short time of deep thinking and trying to decide whether I’ll buy or not, I said to myself, I lost in the forex trading in the past several thousand of dollars, let them be several thousand PLUS $495!!

I read every word on the Forex Mentor Website, I collected every information available about the Author (Peter Bain) and his history in the forex and stocks market, I read many independent reviews about this course. Despite of that, The most important factores encouraged me to buy forex mentor course were as the follows:

The Concept of Forex Mentor Trading System

1- The Program Author: Peter Bain, I read a lot more about him on the internet and on his long experience in the area of trading in stocks, currencies, and the large number of successful traders who trained by him who achieved good trading results with the favor of his forex trading advises.

Peater Bain has developed a very successful trading strategy based on Pivot Points, which depends primarily on the concept of support and resistance: When you see price violate a pivot point convincingly, there are automated trading systems out there that automatically kick in and buy or sell, depending upon where price is going. So, in essence, these two factors alone account for why other indicators are left breathing dust. Bar patterns, MACD divergence, different time frame readings, and trendlines are definite precursors to price changing direction but, in the final analysis, where price is in relation to its nearest pivot point, is the big clue. Tie all these indications together, and you are sure to out-fox price’s next move.

2- This coach always exists whenever you need him, he provides One-on-one feedback, he believes that every forex trader trainee has different needs and requires special attention, this feature adds high value to his forex training program.

3- Members only forum, where members can talk just about everything related to the Forex market and the Forex training program. This is the most important characteristic of this program, getting in touch with other forex traders add to your learning experiences.

4- Free membership for 6 months ($ 199 value) membership alone equal times the value of this course, after the period of six months, you will be deducting $100 for renewal, through this membership you will receive on a daily basis the following material:

  • Daily Video Questions and Answers – That’s right! I will personally answer your email trading questions via live streaming video. You probably think we’ve gone off the deep end! But again, we are fully committed to your success!
  • Daily Trading Examples and Reviews – Success by repetition! Everyday, I will illustrate successful forex trading techniques using the most recent trading markets. These videos streamed to your PC put you right in front of the action! No more reading static charts and text. You can watch these videos any time for as many times as you like.
  • Daily Pivot Data for the 6 Major Pairs – We calculate the daily pivots for all the major currency pairs & make them available to you. So you don’t have to do the work!
  • Forex Online Pivot Calculator – Fine-tune your forex trading by calculating your own pivot points. Trade other markets using these same pivot point principles.
  • Meet Local forex traders in your area through one of our dozens of local user groups all over the world.
  • Member Discussion Forum – Discuss forex trading strategies and tips with thousands of other like-minded traders from around the world in our member discussion forex forum.

Fore more Details on the Forex Mentor Course Components:

Forex Trading Tips – How to Find and Select a Good Forex Broker

If you are new to forex trading, you might have found that searching for a very good forex broker isn’t that easy after all. Why do I say that? There are many requirements that traders look for in their search of brokers, but usually there’s no perfect broker for everyone.

One trader might want to look for a broker which provide lesser spreads for currency pairs while the other one might prefer brokers with easy deposits and withdrawals. Below are 4 forex trading tips that can help you to find a forex broker that you are looking for.

1. A good forex broker will be able to justify by providing information about the clients who are successful and can attest to their own qualifications and success history. Let’s say you are a client of a certain broker, will you testify for their strengths if they did a lousy job or provide bad customer service for you? A client testimony should be present in any forex broker to indicate their credibility. Although testimonials are important, but they should not be just the deciding factor in your research.

2. Another good way to test the reliability of the forex broker is the amount of forex education, courses, resources and other stuffs that they are willing to release to you. Most brokers are of high reputation with a solid background. However, there are also many that do not have good history or no history at all. You are advised to stay clear of these forex brokers because you do not want to regret trading with them.If the broker provides a forex trading system for you, then it’s a good chance to test out their customer support on how much they are willing to help you.

3. Word of mouth is very important too. Ask your friends about those forex brokers and how they met. If not, you can search for reviews in forex forums as well. Most of the forums are active on this topic and this will equip you with ideas and resources that you might not have thought before. Through there, you can get to know of the pros and cons of specific brokers before you make a decision.

4. The other factor in finding a good broker is the margin of return that is offered. A forex trading margin used to influence your money and many forex brokers offer different margins. A broker who gives a margin of ten isn’t very good, so it’s worth your time to research more. It’s also all about customer service and if they do not answer to your doubts within a reasonable timeframe, then you are advised to look for a more suitable one.

Of What Use Are Forex Blogs and Forex Forums?

It seems that there is now a growing interest again in trading in the forex and international stock markets. That interest has seen the rise of forex blogs and forex forums all over the internet, all with very healthy followings. But why would any trader or broker make use of these blogs and forums? The answer is, of course, information. These are additional ways that any savvy trader or broker can keep updated with the forex markets, especially when he or she is interested in speculating on new types of foreign currencies, not just the tried and tested US Dollar, the Pound Sterling, or the Yen.

Better strategies and plans can be found in these conversation rooms as both expert and newbie traders are eager to share what has made them better in terms of forex trading. Anyone may be able to find a better way to deal with their present situation as well as find out current news when it comes to the local trends and events that can affect the strength or weakness of the currency. It’s also a way that these traders can make more connections. After all, it’s easier and faster to meet people over the forum than it would be to go out and introduce yourself. Add to that fact that many traders are based in different countries and anyone can see how important these new means of communication are to the industry.

Forex blogs function as a journalist’s outlet. If a trader finds a bit of current news that he finds interesting, it can be pointed out to the readers and followers that he has. It’s a great way to get updates and also mine the internet for more news and expert comments. Those blogs that are updated daily are perfect for finding that golden nugget which can lead the savvy trader to great profits. Forex forums, on the other hand, are online communities where traders share their opinions, thoughts, news, strategies, and tactics. However, like any community, there are rules that must be followed when posting or the forum member runs the risk of being banned from the community.