Any experience with Learn To Trade?
- Thread starter flinstone
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I have been to their free seminar, but never signed up. I asked them to show me an account statement of one their teaches as I wanted to know if the person teching can actually trade.... after much bugging them the teacher said he just teaches he doesnt trade so I didnt sign up. I cant comment about anythign else but that was my experience with them. I have found a good trader in sydney where you go to his place and he'll teach you step by step. found this more affective then the big places with all the bells and whistles
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In many books I've seen: traders who trade and traders who teach
Very lucky of you to find a mentor
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Are Learn to Trade those guys with the ad on radio that implies (or would lead the listener to infer) that banks make their money (ie a substantial part of it) by trading FX?
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As what they say in their site their aim is to just instruct and teach you about trading foreign currency. So basically, they are just there to teach and teach and teach...
Would it actually be legal for an FX advisor to take the same trades they are advising their clients to? I know brokers certainly wouldn't be permitted to trade a stock they have just advised a client to buy or sell. Conflict of interests, front running, etc....
FX is OTC so not regulated by an exchange, but wonder what ASIC's view of an adviser would be if they had a financial interest in the markets they were advising on? I know FX is huge and one trader is not going to move the market etc, but the principal would have been the same I thought.
FX is OTC so not regulated by an exchange, but wonder what ASIC's view of an adviser would be if they had a financial interest in the markets they were advising on? I know FX is huge and one trader is not going to move the market etc, but the principal would have been the same I thought.
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Remember that unlike stocks most private traders of foreign exchange (FX) use contracts for difference (CFDs) to gain access to the FX market. There is no need to worry about a conflict of interest as the clients he/she is advising do not have direct exposure to the market, they have merely taken out a contract with the CFD providor (which is hedged if significant enough in size to preserve funds).
Additionally, the FX market is so big that one adviser speaking to one client could not make any difference whatsoever to a currency cross rate. Remember we are talking about a market of $3,900,000,000,000.00 traded every 24 hours. To put that in perspective let’s say our old mate Bill Gates decided to liquidate himself completely and throw his $56,000,000,000.00 on a single trade. He would have contributed 1.43% of the daily market turnover.
No need for a pimply teenager fresh out of University working for IG Markets to inform me he has a personal stake on the AUD/USD. I'm more concerned about he's employers stake which I know already is positioned against mine as soon as I hit "submit".
Additionally, the FX market is so big that one adviser speaking to one client could not make any difference whatsoever to a currency cross rate. Remember we are talking about a market of $3,900,000,000,000.00 traded every 24 hours. To put that in perspective let’s say our old mate Bill Gates decided to liquidate himself completely and throw his $56,000,000,000.00 on a single trade. He would have contributed 1.43% of the daily market turnover.
No need for a pimply teenager fresh out of University working for IG Markets to inform me he has a personal stake on the AUD/USD. I'm more concerned about he's employers stake which I know already is positioned against mine as soon as I hit "submit".
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