The essence of the delusion: The students and the instructors of training courses with DCs pursue the opposite goals.

1.Novice traders sign up for the short-term (2/3-week) Forex training courses with dealing centers to become professional traders who profit from Forex.

2.Those who arranged the courses pursue the following goals (which are opposite to the traders' goals):

         ·To interest the students in Forex by citing examples of Soros and Buffet's fabulous profits as well as the profits of other prominent traders.

         ·To give the beginners such fundamental knowledge, applying which traders are going to lose their deposits… and will have the desire to make another deposit.

         ·To persuade the green traders that their DC/broker is the most suitable one to open a real trading account with.

This chapter is dedicated to the structure and the hidden algorithms of various forms of Forex training as well as to the conscious understanding of THOSE ONLY conditions that will let traders profit from Forex, not lose their money at it.

Can any gambling enterprise SUCCESSFULLY teach its gamblers so that they could beat it?

Can you imagine any other gambling enterprise like casino, owners of which arranged free training (or even paid) courses to give gamblers the professional skills (??) required to beat (!) the very casino on a daily basis (!!)?

I hope you agree that from the standpoint of the mentioned algorithm any casino looks much more honest than any Forex DC (dealing center) or BC (broker company) as none of casino owners has ever decided to do the following:

         ·To arrange the paid (!) training courses for the new clients

         ·To let the instructors promise the students to teach them how to permanently (!!) beat the very casino they are trained by.

         ·To mention “real” facts of some former students making hundreds of thousands of dollars

         ·Or to promise them that after finishing the courses… the best graduates will go to Las Vegas at the expense of their casino to upgrade the skills… and after the evaluation period any local casino will welcome them with pleasure (!) to be on the staff (!) (the casino that will be constantly beaten (!!) by them).

Such things are not uncommon among DCs and brokers. They are positioned as the advertisement of the advantages that their “Forex training courses” have – visit the following sub-forums of the unbiased Academy forum (the sub-forum of cheating techniques at Forex) where you can leave your comments and discuss the topic:

         ·Why do DC representatives offer to finish their Forex training courses before they employ you?

         ·“Wall Street veterans” or new “gentlemen of fortune” (who wants to go to the USA to work as a trader after finishing “400-dollar courses”?)

         ·The new PR techniques of DCs/brokers that are used to increase the amount of real trading accounts (Free training for those who will open a 1000-dollar real trading account).

         ·PR techniques: How Chen Likui increased the deposit by 61595% with ForexClub just in a month.

The curriculum of the mentioned Forex training courses (Or How to graduate from “the university” in 3 months)

The algorithm of how DCs/brokers substitute notions while training at the courses: the name doesn't correspond to the content

DCs and brokers give their 2/3-month courses such names as “University”, “Academy”, “College” etc. Yet they give their students the knowledge volume of a school curriculum.

         ·Think by yourself: In what other area of human activity one can enter the 3% of professionals after 3-month training courses?

         ·If after the elementary course of training and a couple of doubtful “master classes” the instructor offers you to open a real trading account with them (the DC)… think if a school-leaver can take a scalpel and perform surgery after finishing the basic anatomy course at school. What is the right word to call the instructor who tells his student: “Open a real account with our broker company”. (Look for the details at the sub-forum dedicated to the discussion of this chapter. )

Such a substitution of notions takes place on legal grounds as there are no generally accepted scientific methods of dividing Forex training into stages and periods as opposed to other professions. Masterforex-V Academy (as a prototype of the world's first institution of higher education) was the first to apply such division into periods to Forex training.

Below we compared such courses with analogical stages of training in the Academy in order to understand the following:

         ·Who teaches at such courses?

         ·What do they teach there?

         ·Why do 100% graduates lose their deposits after finishing the courses?

         ·Why did the Academy staff re-taught over 1000 of such “successful” graduates from ForexClub Academy, Alpari courses, FXCM, FOREX.COM (New York), B. Williams, L. Williams and Elder's “master classes” etc. during the period from 2005 to 2009.

The curriculum of Masterforex-V Academy in comparison with the courses and “master classes” of various Forex DCs and BCs.

Forex training courses the structure of which is based on the classic training in other professions:

         ·Preschool education (nursery school)

         ·School education

         ·Classic science (the first/junior grades at the university)

         ·Modern trends of science (the senior grades at the university)

         ·Practice

         ·Post-graduate courses and doctoral candidacy

This is a basic scheme of the generally accepted stages of the step-by-step professional advancement and training in any profession in the world.

If you understand the algorithm try to look in a different way at Forex training.

1.     Preschool Forex training (nursery school)

         ·Most courses offer introductory information at the first (and the only free) lecture

         ·In order to avoid visiting such lectures and to save time read an Introductory lecture by MF on Forex (nursery school) and on the peculiarities of training at MF Acsdemy.

         ·The aim is to tell beginners about the Forex trader as a profession.

2.     Level 1: Basic (school) Forex training

         ·This is the material that is given at the above-mentioned courses under DCs/brokers

         ·Nowhere in the world such education is not considered professional, as it gives only fundamental knowledge

         ·The examples of 2 out of 12 grades are laid open to public in order that you could understand our approach to training . Each grade is headed by a skilled trader. You study the material, ask him questions, he answers them.

         ·Each class has the links to the Academy material that should be studied further.

For example, for the 3rd grade of the School “Trend and sloping channels” you study:

         ·A separate grade of the School (about how trend channels are drawn, how important they are for Forex trading) with answers and tests

         ·Then follow the Higher School special courses (what is the difference between the trend channels of Hartley, Murphy, Sperandeo, Elder, Shwager, Borishpoltz etc. with THEIR opening/closing points).

         ·A separate special course about MF's algorithm of sloping channels as a solution to the UNSOLVED mysteries of the trading classics in the field of trend channels.

         ·FAQ on the correlation between MF's trend channels and other tools for market analysis

         ·The initial practice at Sub-Department

         ·Daily major practice at the sub-forum called Online trading strategies and techniques (tips and tricks)

The same is for each grade

It is strictly forbidden to open a real trading account after finishing the fundamental training course.

Of course Forex DCs and BCs have the opposite opinion on the value of such introductory courses in Forex trading.

Let me quote Teletrade:

… the 2nd /3rd /4th training week includes individual practical training courses in a specially equipped dealing hall, where you will master the info-trading system Tele Trader 4 and learn to perform real-time Forex trading.

After finishing the 4-week (!) basic (!) training you will get a chance to open a real trading account as well as to get a working place in one of our trading halls (end of quote).

Agree that Teletrade's advertising texts are written and composed professionally

         ·They do not promise to teach a beginner to make profit during the 4 weeks of training… they only promise to teach you “to perform real-time Forex trading” (they will explain where are the “buy” and “sell” buttons, show you a couple of analyzing techniques before you press these buttons)

         ·After the successful (!!) 4-week training… “you will get a chance to open a real trading account” (as though the DC is not going to open it without the training).

Forex Club

         ·It offers 6(!) variants/packages of the basic Forex training course (it depends on how much money the client is going to spend on education… yet they assure us that each (?) of the 6 fundamental packages… is sufficient (?) for getting basic education)

         ·A customer gets a pack of books and video materials with an access to the closed forum where skilled/professional instructors (do not even hope that they are going to give you real-time trading tips) “will answer your questions with pleasure… about the fundamental Forex training course”).

         ·Read about “the level of the Forex Club fundamental training course” in the attachment/appendix to the book by Vjacheslav Taran “Trading is simple?!” (“Ili kak Baba Njura chut dollar ne podkosila” – it's a transliteration from Russian that means the following “Or how an elderly illiterate woman, whose name was Njura, nearly mamaged to collapse the US dollar”)

         ·The “successful” traders and “skilled” instructors of Forex Club “will answer your questions with pleasure…” (the questions being basic and primitive as the training course itself).

         ·After finishing the Academy of Forex Club all the graduates are invited to the solemn ceremony of getting diplomas (??), which they will never show to anybody (the details are at the forum topic “Does a trader need a diploma? Are there any perspectives for the trader's employment? Beginners' questions” . )

To understand the nonsense of Forex training courses under DCs let us make the following analogy:

         ·A group of scientists decided to found “The University of Chemistry and Modern Nanotechnology” basing on the demand of applicants to acquire a profession in the field.

         ·The croup consists of 10 candidates and doctors of historical sciences… yet it doesn't include a single chemist or technologist.

         ·The training period may vary. It lasts from 1 to 3 months and depends on the amount of money the student is going to spend on training.

         ·All the students without exception are allowed to study at the university once they have paid for their education. This is what each student gets:

Books and video material for “the university students” (including the main masterpiece personally written by the Master (the Chancellor) called “Baba Njura and modern nanotechnology")

Lectures and seminars in the modern lecture halls and computer halls

Professional teachers – Doctors of historical sciences (not chemistry or nanotechnology)

Attendance book, roll calls, grades, tests, exams… up to the solemn ceremony of getting a diploma.

What is your opinion? How many graduates of such university will enter the 3% of the world's best chemists and nanotechnologists? What is going to happen to each graduate during the first independent chemical experiment in the lab? I guess the questions are rhetorical.

The 1st common mistake of novice traders at the 1st stage of Forex training

Having finished successfully the 1st courses under some DC and lost the 1st real deposit a novice trader signs up for the 2nd/ 3rd/ 5th courses with other DCs.

The algorithm of beginners' mistake

         ·After finishing school there is no point in finishing the same basic schools for the 2nd and 3rd time with the same curriculum.

         ·You are not ever going to be either a trader or a surgeon after finishing secondary school one more time.

 

The 2nd common mistake of novice traders at the 1st stage of Forex training

At secondary school such training classes are called tutorials (extra training and consultations). They are needed to prepare a school-leaver for entering a university/academy/college.

Dealing centers consider their tutorials to be “professional (!!) master-classes”, which teach a student to trade basing on Ichimoku, classic wave theory, Bill Williams' theory etc.

The algorithm of beginners' mistake

         ·Most teachers of secondary schools (please forgive me, we a grateful to you for your work) are those who didn't managed to become instructors of higher education institutions or to reach any other top of the profession.

         ·I do not know a single case of taking an external degree or any other way of becoming an expert after attending such tutorials of a secondary-school teacher.

         ·There exists a very important psychological support level in any profession, which has never been crossed by any self-respecting expert without damaging the level of his/her skills. For example, no surgeon is ever going to do the part-time job of an aid-man or a nurse boy. No professor of math is ever going to teach in the 3rd/4th grade of a secondary school to explain what equals 2+2 or 2*2.

         ·The instructors of the Forex training courses under DCs are unaccomplished traders… or the people who bear no relation to Forex trading at all. DCs and BCs are not ever going to employ successful traders (as casinos always announce a successful trader, who beats the casino on a daily basis, “persona non grata”,  yet they do not pay him/her, do not advertise his/her abilities and do not arrange for him/her training courses at their own expense).

         ·The instructors (not traders) with academic degrees of candidates and doctors of the sciences (often economic and physic-mathematical sciences) that don't bear a slightest relation to Forex (The difference between a trader and an economist is the same as the difference between a dentist and a production engineer of the factory producing medical equipment. What professional tips can an engineer give to a dentist-to-be in order that the dentist would become an expert in dentistry? The same tips that a professor of economic science can give to a trader-to-be). Then why do DCs hire professors of economic science (not related to Forex) to teach beginners at the training courses? I hope you already know the answer.

         ·The theory-to-practice ratio of the training course curriculum is planned/distributed in such a way that the theory hours would outnumber the practice hours. Yet they plan that the practice should be over by the time when the students raise such questions that can deadlock the instructor and reveal the true intention of the DC (in the last resort the instructor can say that the market is unpredictable and is always right). It is even better for DCs when the students of their training courses face these problems having already opened real trading accounts with them.

         ·The mentioned Forex training under DCs is based on the historical data of currency quotes. Only senior timeframes (h4, d1, w1) are used for training because the instructors want the failures to be revealed only after the course is finished by the students.

         ·The final tests are deliberately simplified to be more rapid in persuading the graduates-to-be that they are ready and skilled enough to open a real trading account.

         ·The instructors always have private conversations with well-off students (they are always easy to spot), during which the instructor flatters the student about his/her “prominent/outstanding abilities” and his “firm belief in the student's great future as a trader”.

         ·“Accidental” talks of “traders” during their “cigarette breaks” about somebody gaining an incredible profit, (the talks) accidentally coinciding with the breaks between those fundamental classes for beginners.

Yet DCs use many other techniques to accelerate the process of opening real trading accounts by the very beginners in the first place.

         ·On the other hand, no successful trader is going to lecture on elementary things (like 2+2 or 2*2) right at the height of the trading session if he can profit from trading.

         ·That is the reason for the huge “staff turnover” (ONLY) at the fundamental school under MF Academy. It happens because the trader's professional level grows… and the trader starts looking for another trader who can replace him, as at a certain level it is boring (and difficult while trading) to answer such simple (for him/her) questions like: What is the difference between the support and resistance levels? How can I find Metaeditor or moving averages in MT4?

Having realized the latter algorithm (that real traders cannot stay at the beginner school as instructors for a long time) try to look in a different way at those representatives of Forex Club, Alpari, Forex-LTD and other DCs who are ready to answer beginners' questions for years and “with great pleasure”. Read and remember the surnames.

The conclusion:

When you spot an ad of some expensive Forex training courses (from a couple of hundreds to a couple of thousands of $) with the supposedly professional level of training imagine a “professional” surgeon who does the part-time job of an aid-man or a nurse boy at some other hospital and understand the real level of his professionalism. This is the same level that you will reach after training at the courses under DCs.

.Once an instructor from Forex Club honestly told his students: “When I learn to earn from trading more than I am paid for the courses I will leave the dealing center the next day”. Or you can follow the same link to find the surname of the 2nd instructor who read 3 special courses. Calculate how much time is left for him to trade. After that you will read and estimate his works from a completely different standpoint finding the algorithm of what he doesn't understand himself.

The global system of the uninterrupted engaging of new preys in the Forex Game, 97% of which will lose their deposits, exists to supply the 3% of predators and the brokers with “food” (profit). The system is based on the complex application of the following tuned schemes/techniques:

         ·The substitution of notions (when they say a “professional” training it means a “basic” one)

         ·The employment of the candidates and doctors of the sciences not related to Forex to teach “basic” training courses.

         ·Playing tricks on human mind and benefiting from human weaknesses (the examples of supposedly “get-rich-quick potential”, persuading each well-off student in his/her “exclusiveness” and “gifted nature”) and other techniques.

 

3.     Level 2: Classic professional education (training)

The level of the junior courses of any higher education institution = the classic theories of the science.

The books on Forex classic “science” differ from the books on the rest of classic sciences in the following:

         ·It is not enough to just read the books on Forex (visit the biggest internet library on Forex.)

         ·It is necessary to separate the brilliant from the false and the outdated and to optimize the brilliant to the modern demands of Forex trading.

Masterforex-V conclusion:

         ·Don't do real trading at Forex until you find the solution to the unsolved classic puzzles/problems.

         ·Compare such level of knowledge with the knowledge gained at the 2nd course of the university you have graduated from. You should understand that for example no second-year student of a medical university cannot enter the 3% of the world's best surgeons ( he/she has a lot to learn yet)

Of course you can find the opposite opinion on the topic on the internet – hundreds (!!) of sites on “Forex training”

         ·On each separate classic TS (based on the books by Demark, Bill Williams, Larry Williams, Shwager, Elder, Nili, Dinapoli, Prechter etc.)

         ·Without defining the mistakes of the classics, without correcting these mistakes and without the connection of this branch of classic trading to others

Sometimes the nonsense is very funny

Bill Williams' TS

         ·Bill Williams himself wrote that his TS is not applicable to Forex trading . (check out a separate special course The optimization of Bill Williams' TS by MF).

         ·After that search the internet for sites on the supposedly successful (??) Forex trading based on his TS… and you will find dozens (!!) of them.

The Elliot Wave classic theory

         ·According to WA classics' opinions (Balan, B. Williams) most WA patterns are distinguishable only post factum.

         ·If somebody doubts try to make a real-time check of the daily analysis by Dmitri Vozny. You will discover a superb wave mark-up on historical data and more than 50% failed forecasts (sometimes 5 times a week).

         ·After that search the internet for sites on the classic Elliot wave theory and you will find hundreds of them promising to teach you professional trading.

The Higher School Department of the Academy… or how to reach the level of the 1st/2nd course of the university in your Forex training

The Academy was the first to solve this problem by founding the Deparment of Higher School

The essence is to give a brief summary (of the most essential elements) of each TS based on the classic trading theory and to combine them with MF TS.

The Higher Schools includes special courses on the trading classics' works (including over 100 discoveries made by MF – visit FAQ)

         ·Prechter and Vozny's TS (Prechter and Vozny's WA vs. MF's WA as far as online trading is concerned)

         ·Demark's TS ( the support/resistance levels by Demark/MF are applied to DAILY online trading – the match of the levels signifies that these are serious S/R levels)

         ·Larry Williams' TS (We define: the potential entry points that the trading champion Larry Williams would use in current trading… what is taken from his TS to be combined and used in MF TS… where Larry's unprofitable signals are filtered by “MF filter”)

         ·Elder's TS vs. MF TS (including “Elder's triple screens” vs. “MF's 8 screens”, the unique pattern is discovered and called “the Hound of the Baskervilles by Elder/MF”

         ·Bill Williams' TS (the ways of applying the AO by Williams and by MF, new variants of the AO)

         ·T. Hartley's classic sloping channels vs. MF's sloping channels

         ·V.Sperandeo's trend reversal vs. MF's FZR.

         ·Scott Carney's classic patterns vs. MF's patterns (differences and similarities)

         ·The trading based on DiNapoli's levels

         ·Bollinger's TS (the strengths and weaknesses of Bollinger Bands, the ways and methods of the TS optimization and eliminating the drawbacks through MF TS.

         ·The classic Pivot Point vs. Rudolph Axel's short-term S/R levels.

         ·FIBONACCI SEQUENCE (Robert Fisher's TS): STRATEGIES AND SUPPLEMENTS FOR TRADERS

         ·The “TURTLES” TS – the hidden algorithms of the success of one part of the turtles and the failure of the others

         ·S.Grebenshchikov's TS: advantages, disadvantages and the correction of bad mistakes.

         ·And a lot of other classic trading systems not knowing which one cannot be a professional and have a “safety factor”

 

The format of material presentation at the Higher School of the Academy

 

1.A brief summary of the classic TS at hand

         ·The brilliant discoveries in the system

         ·The application the TS: strengths, weaknesses, limitations

         ·The failures and unsolved puzzles of the TS

         ·The solving of the puzzles and MF's optimization

         ·The compatibility of the classic TS with TS MF

 

2.The head trader's (the supervising instructor) answers to beginners' questions on the special course of the Higher School.

3.The links to the MATERIAL that will be studied at the next lesson.

4.The practice of applying the theories by the classics and MF to daily online trading

a)      At the preparatory department as a transition stage between the training at the beginner school and the Academy.

b)      At the sub-forum of Real-time trading tips, strategies and techniques of Masterforex-V Academy (skilled traders' real-time calculations).

 

4.     Level 3: The senior courses of a higher education instituton (training)

The new theories of professional Forex analysis

There are thousands of Forex trading systems in the world.

As some moderators of the Academy joke “The “successful” TSs and the sellers of “trading signals” in Ru-net have already outnumbered the amount of successful traders in the whole world”.

We do not want to say that all of them are useless. We just want to warn you that the overwhelming majority of these “wonder systems” are scams. It is better to buy a “single-purpose TS” (which is limited to a trend/flat, volatility, DC specifics etc.) only when the following things are studied and understood:

 

         ·The basic course (the School)

         ·The classics (the junior courses the university) at least in the field the TS is based on.

         ·The role and place of the TS in the general “coordinate system” (as far as the School and the classics are concerned) when you can consciously trade with “ the advantages” of the TS

For example, if you want to buy a TS/MTS based on trend channels

         ·Study the corresponding course to understand what trend channels are used for in trading

         ·Study the varieties of the classic theories on trend channels (Demark, Hartley, Shwager, Elder, Grebenshchikov, Borishpoltz etc. – read book 2 by MF-V. )

         ·Find out what UNSOLVED problems the trend channel theories have.

         ·Find out which one of the UNSLOVED problems can be solved by the TS/MTS (that you want to buy and that is usually expensive).

         ·If you understand the benefit that you can gain from this single-purpose TS/MTS then you can buy it, study and apply it, having made a preliminary analysis of its components to consciously benefit from Forex.

         ·For example, take Grebenshchikov's TS and dismantle it into components as it is done at the special course of the Higher School. Define the essence, the strong and weak sides of his TS (and consequently the limitations to its usage). Then define what was improved by him, what mistakes he made. Then correct the mistakes. Now you can trade with it.

         ·If the TS/MTS (you want to buy) is a “black box”, if you cannot make out anything of its initial parameters (MA intersection, stochastic, divergence, MACD, volume data etc.) do not even think about buying it (it will not be able to bring you any profit, especially the profit  that you see in the attached statements, as the “phenomenal results” have been adjusted post factum to a specific time period of a certain currency pair, the adjustment is based on historical data).

         ·If you didn't understand what you had been warned about forget about buying any single-purposed TS as no human has ever benefited from the things that he/she cannot understand and which advantages he/she cannot use.

         ·Go training at the School and the Higher School under the Academy to get the basic and classic education in Forex before searching for (and entering) your own path of Forex trading within the scope of some “modern TS”.

 

Daily practice in applying the theory to the current trading.

Having studied the theory (it usually takes a couple of months) of:

         ·the School (12 grades)

         ·the Higher School ( the classic Forex theories)

         ·Book 3 by MF and the FAQ (the new TA by MF-V)

The students get down to daily practice in applying the theory to the current (real-time) trading. Every day a separate sub-forum is opened, where you can find the analysis of the tactics for the day, skilled traders' online tips and tricks, their answers to beginners' questions on the current trading, the target calculation of the SHORT-TERM and MID-TERM session trends (short/long positions, WA) and the pullbacks from them, MF and Axel's pivots, the calculation of MID/LONG-TERM trends, the recommendations of the Academy departments from the viewpoint of Murrey, channels, Fibo, the WA by Nili and Prechter, the levels where orders are accumulated at the real exchange market, options, indexes, allied currency pairs etc.

Some separate elements of Masretforex-V TS you can see in book 2 and at the sub-forums where the Academy students discuss their training process – How do the Academy students trade at Forex?

How do the participants of the forex Masterforex-V Academy>>

Masterforex-V Academy school for beginners in forex>>

Theory and practice of the Masterforex-V trading system>>

Here many Academy students prompt separate algorithms of MF TS including how to find wave peaks, to count them, to combine together 4-5/9 TFs (the 5th wave on m1 in C m15-20 = Bh1/2) with exchange market orders, MF pivots, preys' orders, allied currency pairs, indexes etc).

This daily real-time practice continues until you have learned from demo trading to understand each market movement and to benefit from it, consciously and permanently making profit at Forex thanks to the new TA theory by MF and daily Forex trading practice.

The Academy training is not limited in time.

Usually the Academy students start gaining conscious profits in a couple of months of daily practice. The overwhelming majority of them stay at the Academy even having learned to get stable profits. The essence is in the conscious understanding of the advantage of collective trading over single-handed trading.

         ·A sea of currency pairs

         ·A lot of TFs are analyzed in search of the faultless gaining of profit

         ·A huge flow of data (the orders of the exchange and off-exchange market, waves and sub-waves, the TF synthesis, impulse/correction levels, the calculation of different variants of movement and many other things that may seem complicated for beginners).

         ·Allied currency pairs

         ·Indexes with the work-off of waves and sub-waves on various TFs.

         ·Crosses

         ·Constantly changing market orders etc.

Forex is an entity controlled by some invisible computer with hundreds of tools with a split-second synchronism.

That is the main disadvantage of the Game Founder and simultaneously the main advantage of team trading.

A team can spot the cheating much easier (I want to remind that the stronger the cheating of the crowd the stronger the movement is going to be).

A team can calculate S/R levels much faster (the match of several impulses, Fibo levels, Murrey and Demark levels, the orders of the exchange and off-exchange markets, the work-off of a full wave-cycle etc.), pivots, the patterns of trend reversal/continuation of different wave levels etc.

That is the answer to the question why many great traders had a team (George Soros, Steven Cohen etc.) or why Masterforex-V Academy was founded in 4 years (it doesn't have analogs in the world).

 

How much time is needed to become an expert in Forex trading? The ratio of SHORT-TERM to LONG-TERM Forex training.

         ·From the position of LONG-TERM Forex training – a real expert learns the details of his profession all his/her life.

         ·From the position of SHORT/MID-TERM Forex training the question arises: How can one start making a stable profit at Forex with minimal expenses (losses)? We'll talk about it later.

The quote of a student:

Vjacheslav Vasiljevich, should I give up my job to study Forex trading 24 hours a day and to “jump out” of the hopeless existence of an office manager of some big company where I have been working for 30 years. I walk in a circle. I understand that if I kill other 5 years the only thing I will manage to do is to move one step up the ladder of advancement (end of quote).

Never throw yourself at Forex like into a slough. You can go down without even noticing it.

This is such a fortress that cannot be taken by simple assault as Forex is not an end in itself, it is a means, a tool for gaining profit.

This profession is as hard as surgery, radio-physics, biochemistry and others.

How can you master it in 3 month and enter the 3% of the world's best experts in it?

Level 1 – At first treat Forex as a hobby

Being keen on Forex is much interesting than wasting your spare time:

         ·On the net (at forums, chants… arguing with each other about nothing for no reason)

         ·Watching TV (soap operas, action movies or newscasts that turn you into a zombie with the values the want you to have, not your own values, as you will never profit a cent from it as opposed to those who try to stuff your mind with their own interests that they call “national”).

         ·Playing PC games (Can this stupid occupation do any good to anybody?)

         ·Lying on the sofa reading detective stories or flipping through some magazines.

Sign up for the Academy training without leaving you work. Everyone starts with combining work with study sparing some hours a day for the training.

1.Study the theory step by step

         ·Take notes and ask questions

         ·The aim is to understand Forex as the system that do not imply excess movements (through the classic TS, Masterforex-V TS and others)

         ·Consequently you reach the main algorithm of a trader's success – to understand and gain profit from those areas of price movement that are determined and that can be calculated in advance.

2.Gradually proceed to practice. MF theory is a single whole, but the starting points of calculating movement variants are different every day.

 

         ·If you are not in time for the beginning of the European and/or American trading sessions you can look at the calculations of other traders in the morning, before each trading session and during the day.

         ·There exist special tactics for trading at the pullbacks at the end of a trading session (if during the session there was a strong trend), special tactics for trading at flats and at SHORT-TERM and MID-TERM trends ( visit the specific departments of the Academy)

 

3.Then get down to the daily practice at the closed Academy forum with the tips from the local experts, whose professional level is much higher than the classics' one. A beginner can communicate equally with them, to compare his/her own calculations with theirs, to ask questions during real-time trading, to specify, to give your own opinion on the market situation.

 

         ·All this is repeated day by day… for a year… 2, 3, 4 years of mastering your skills.

         ·Demo-account trading (training)

         ·Then micro-real, mini-real… and finally standard-real trading

Level 2 – opening micro/mini-real account

It should be done only after:

         ·faultlessly going through several MID-TERM trend reversals (H1/H8)

         ·making a conscious profit with the help of your own calculations and the calculations of your fellow traders, understanding each movement from m1/m2 to h1/h2…h8

 

         ·The essence of level 2 is to “smoothen the conservatism” of your subconscious perception (read a separate chapter of the book on the topic) with a new, higher level of understanding TA and WA.

 

         ·There is practically no difference between demo trading and real trading from the viewpoint of trading techniques. The difference is in the psychology (greediness, fear etc.), which can worsen the result of the trading during the shift from “the demo” to “the 1st real”.

 

Level 3 – standard-real account

         ·Entering the category of professional traders who consider Forex to be the main source of their income.

         ·When at level 3 you do not want to work anywhere else.

         ·Your psychology and the perception of the surrounding world will start changing drastically.

 

Level 4

         ·We'll talk about it when you are ready for it.

 

How much do traders earn?

A question from a private message:

I'm a student mechanic-mathematical department… I've calculated that in… years I will earn 17 billion dollars if I profit 20 pips a day. Can anybody guarantee me such an amount of profit? (End of quote)

In the chapter dedicated to investments . I wrote in detail about another graduate of mechanic-mathematical department, who earned millions of dollars being engaged in some business, 90% of which he lost during the crisis, investing his money in “less risky” (on his opinion) spheres of investment than Forex (bank deposits, HYIPs, shares, “blue chips”, estate property etc.) even though 1.5 years ago he made “precise math calculations” when he would reach Soros in the amount of the personal capital basing on “the annual rate of capital growth”.

There are some things at Forex that DC analysts never mention and instructors of “FX training courses” never tell about to beginners:

1.Stop-losses/locks including losses

2.“Catching” traders' stop-loss orders by brokers

         ·Alpari

         ·SaxoBank

         ·Ukrsotsbank

3.Resetting the parameters of quoting system - see the topic “The examples of scam techniques used by DC to stop the profitable trading of the clients (what techniques do they use when a trader gains a stable profit)” .

4.Quoting cutoff (“No connection/The server is not responding”) at the beginning of a strong market movement.

5.Some DCs/brokers won't let the Academy traders withdraw the gained profit .

6.Broker bankruptcy

         ·Bernard Medoff

         ·Refco

         ·UTGFX

7.Forex income can be lost on investments.

8.There is a classic example of the famous “Turtles”, who will be taught Forex in equal degree… yet the minority became millionaires, the majority went down to the level they had started from.

There are dozens of other hidden obstacles and scam techniques applied by dirty DCs and BCs to their clients. We solve these and many other problems at the closed forum of MF-V Academy by warning each other (that is another advantage of team work).

If the above-mentioned material stopped you there is no need for you to read further.

For the rest I will explain: these are the working/routine problems as in any other profession during the shift from the middle class to the next one. These obstacles and barriers are never mentioned in mass media and TV series. But in real life these obstacles are much harder to overcome than in the virtual space of Forex.

If you manage to overcome them then you'll proceed to the next step of the ladder of prosperity to “the Financial Olympus” by using, alas, the only chance to break through the level of the middle class to the top… and this chance is trading.

If you want to stop then, that it is your choice.

As a rule a trader's profit is not the subject to talk about among traders.

         ·There are no pluses of such talks

         ·The minuses of such frankness are more than enough (for example, in the states of the former USSR).

The profit of numerous Academy members can be seen only indirectly through the following data:

         ·The current amount of deposit (when the question is asked if it is reasonable to have a 200.000-500.000$ account with a single broker), remembering the person open his first mini (or even micro) real account when starting his Forex path.

         ·Statement fragments (the lot size used in their trading with a specific MM, the wave level TF that is made profit from, stop-loss/take-profit placing etc.)

         ·The interest in investment (buying the control packet of shares of some enterprise, land, estate property)

         ·The way they reject attractive offers made by investors.

         ·A range of other indirect data that are not to be mentioned aloud.

         ·There are other data – some people left Forex for a while or forever (pleading some family problems or something else), some people started selling trading signals instead of trading (they reveal the essence of their TSs), some of them founded a DC or get employed by it etc.

General conclusions about “Forex training”

If you still have the desire to become a Forex trader after reading this chapter, which reveals the 5th delusion in a row that belongs to 97% of traders in the world, and the preceding chapters then you have 3 ways to follow:

1.You can study the classics of trading on our own and at your own pace, find the mistakes, correct them and make your own TS, based on the advantages of your calculations over the classics' ones (The software installed on the Main Computer is based on Forex classics – that is why those, whose trading techniques are based on the classics, lose their deposits much faster than those, who do not now the classic technical/fundamental/wave analys)

The biggest internet library on Forex is located at the website of MF-V Academy.

2.You can believe in “the fast miracle” – open a real trading account and start trading with the help of some “magic trading expert”/ “black box”/MTS (which is going to trade and make profit for you… if it can make a stable profit then why did they sell it to you?)… or you can base your trading on the knowledge gained at the 3-week/month training courses under some DC believing that you can enter the 3% of the world's best traders after finishing the courses.

3.You get ready for the serious professional training at Masterforex-V Academy (first as a hobby, then as a profession) – a prototype of the world's first higher education institution specializing in Forex, which include over 20 departments, hundreds of special courses headed by traders (not analysts) and daily practice based on the team work of applying the corrected and optimized classic theory to real-time trading.

Which way is the right one? … The market itself will judge… they say it is “always right”

The chapter can be discussed at the Academy forum

 

Introduction to the 2nd edition of Masterforex-V's Book I. >>>

Chapter 1 - The 1st delusion of 97% of traders in the world. Predators and preys at Forex. >>>

Chapter 2 - The 2nd delusion of 97% of traders in the world. The formation of the currency price at the Forex market. Impact of economic factors on currency exchange rate. >>>

Chapter 3 - The 3nd delusion of 97% of traders in the world. Who provides traders all over the world with the Forex market currency quotes? >>>

Chapter 4 - What trading advantages can a trader get from Masterforex-V's concept about the controlled Forex market. >>>

Chapter 5 - The 4th delusion of 97% of traders in the world. Studying literature on Forex is the way to the loss the deposit for 97% traders. >>>

Read more

Chapter 7 - The 6th delusion. Is a successful trader a or a team member? The great trader's experience. >>>

Part II - Masterforex-V's Trading System and new technical analysis. >>>

Book 2. Technical analysis in the Masterforex-V Trading System >>>

Book 3. Masterforex-V “Points of opening and closing of positions at the Forex market (basic course)" >>>

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