An excellent forex academy malaysia should include three important elements for beginner forex traders. It should cover a proven, scientifically-proven trading strategy, effective money and risk management, as well as the development of the right trading mindset.
The foreign currency market is volatile. Forex trading can be very risky for novice currency traders, especially if they have not taken any fx trainings, courses, or technical analysis classes.
There are many courses available in forex trading. But be careful of courses that only teach certain strategies or provide indicators or indicators for forex trading. It is even worse when forex strategies are offered by unlicensed forex brokers.
The following should be covered in a forex course.
1. A tested, scientifically proven forex trading strategy. These strategies should have a higher than 60% to 70% chance of winning in every market condition. These trading methods must have been tested over a period of time and with scientific testing for at least 5-10years. Because of the limited resources, expertise and facilities available, not many self-taught currency traders are able to test their foreign trading strategies using this method.
2. An efficient money- or risk management system. Warren Buffet’s number one rule about investing is “Do Not Lose Your Money!” It is important to keep your capital. Good money management is the key to any forex strategy. Never risk more than 5 percent of your capital in one trade. A forex trader who has a forex strategy that is 60-70% likely to win out of 100 trades on the currency market online will win more than if he loses less.