# Online Trading Classes



## hungryli (16 January 2011)

Hi, I am very very new to trading and would love to get started. However, I'm not ready to use real money to trade. I know what I should do now is read up books and browse through sites like these.

I found out that there's this free online classes on GFT but I need to put in $5000. They said the online classes are free for a few months and when you're ready to trade then the money is used to pay brokerage fees. Or if after that few months, you're not ready, you can quit and take your money back.

Is this okay for me to learn through this site? Or if not, Could you please advice on what I should do now.

Thank you very much!


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## Wysiwyg (16 January 2011)

hungryli said:


> Hi, I am very very new to trading and would love to get started. However, I'm not ready to use real money to trade. I know what I should do now is read up books and browse through sites like these.
> 
> I found out that there's this free online classes on GFT but I need to put in $5000.




Just wondering if the online classes are on how to trade Forex or high risk CFD?


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## Market Depth (16 January 2011)

Who's GFT? I'm not familar sorry. I'd still be a little concerned at handing over 5k. I'd just research online brokers, and open an account with one of them. Books make the best start, I feel. When I first started I was influenced by Darvas. Much latter I enjoyed Guppy. I discovered I was doing something similar with my trading before reading these books, and they confirmed my ideas and helped in honing the skills, so I could relate to them well. Also Plenty of very knowledgeable people on here, who are willing to share their ideas and techniques all for free. Be warned though, to survive in this lark, you need to be a 'LEADER' not a 'FOLLOWER'. Reading forums is fine, I enjoy this one, the only one I've ever joined. I don't however need to rely on forum content.

Pick some stocks, watch them trade, throughout the day if you can. Watch and learn. Write things down that you notice, or would like to ask a question about, perhaps in here. Read your books, practice the techniques, without using money. Do this for 12 months or so. If your still keen after 12 months, then and only then start with some small postions on the stocks you have been learning about and watching. Money is easily lost in the markets. It takes dedication and skill to win it back.

Most importantly, enjoy your journey, take your time, don't rush in if you don't feel comfortable. Practice, Practice and Practice some more.


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## burglar (17 January 2011)

hungryli said:


> ... I need to put in $5000. ...




If it looks like a scam, swims like a scam, and quacks like a scam, then it probably is a scam.


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## builder2818 (17 January 2011)

If it's forex you're interested in trading then GFT is a forex broker that offers free demo accounts for you to practice trading. They probably have online education which you can find in many other places for free.

Don't give anyone $5000 to teach you anything. Don't listen to these salesman with these companies like GFT who tell you that training is only free for a few months. What you do is sign up for these things with an email you don't mind them pitching sales to you at and never give out your phone number.

They just tell you that you need to deposit money so they can sign up a new customer and force you into trading your real money, which by the sound of it, you are far from ready to do.


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## skc (17 January 2011)

I don't think GFT is looking to charge $5K for the trading course. It is just asking for a $5K real account for the OP to attend the trading course for free, then the $5K 'should' be able to use towards trading as capital.

That's just my interpretation, hungryli, so make sure you read the information again on what this deal is about.

FWIW I think GFT is a reasonably reputable CFD / FX provider. Not recommending them or anything, but they are not scammers as far as I am aware.


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## white_crane (17 January 2011)

It's been said many times before...but for a good grounding in the basics, why don't you check out the ASX website which has lots of *free* educational material.
http://www.asx.com.au/resources/education/index.htm


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## burglar (17 January 2011)

skc said:


> ... they are not scammers as far as I am aware.




Why would they want $5,000 up front!?


How do you become aware of scams?


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## skc (17 January 2011)

burglar said:


> Why would they want $5,000 up front!?
> 
> 
> How do you become aware of scams?




Without reading what is actually on offer I can't really tell. But my 'guess' is that they are doing some promotion where if you open an account with minimum balance of $5K you can get this course for free.

You become aware of scams when something doesn't sound right. Giving some incentives to open an account is not a scam. It might be a $hit deal, but doesn't mean it's a scam.


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## hungryli (18 January 2011)

Market Depth said:


> ....Read your books, practice the techniques, without using money....




Thanks for your opinion. I'm wondering what do you mean by techniques? Do you mean technical analysis?

Also, trading forex and shares are different? Where should I start?

Like I don't know where to start. I've been reading a few introduction to trading/investing books and it's really dry.


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## joea (19 January 2011)

hungryli said:


> Hi, I am very very new to trading and would love to get started. However, I'm not ready to use real money to trade. I know what I should do now is read up books and browse through sites like these.
> 
> I found out that there's this free online classes on GFT but I need to put in $5000. They said the online classes are free for a few months and when you're ready to trade then the money is used to pay brokerage fees. Or if after that few months, you're not ready, you can quit and take your money back.
> 
> ...




Hi.
As suggested above check out the ASX. You can then compare literature.

Ask this company to supply you an overview of the course and what you will learn.
Ask what the $5000 is up front for. Their answer must be on paper or email.

Go to Paritech home page and click " I am a new investor". Then click education.
A window will come up with their education summary on technical and fundamental.

You maybe able to go through this without any outlay.

There IPulse platform, which is Pulse with 20 minutes delayed data, has education  included with the platform.

You can ring Paritech and ask them what they have also.

You really need to know where you intend to start to trade as well.

This is not a sales pitch. I just know Paritech have integrity when they deal with new traders.
Finally, you need to compare a couple of packages before you start.

I believe Justine Pollard has a book " Smart Trading Plans", which is a step by step, simple layout of trading.
Just a thought.
Cheers


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## Market Depth (20 January 2011)

hungryli said:


> Thanks for your opinion. I'm wondering what do you mean by techniques? Do you mean technical analysis?
> 
> Also, trading forex and shares are different? Where should I start?
> 
> Like I don't know where to start. I've been reading a few introduction to trading/investing books and it's really dry.




I myself started with shares, it's what I know and what I was taught. I've added Forex to my trading plan about 18 months ago, still lots to learn. I'm giving the Forex 5 years in the business plan to see if it suits my business.

Most books will have a certain 'Technique' that is the basis to the book, Like Darvas 'Box Theroy' and Guppies 'Count Back Line' as examples, try these out with stocks and or Forex and see how they go in todays markets.


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