I just got off the phone with a trader who was asking me about
forex trading systems, and who I recommend. I can't blame him
for asking, because there's so much out there to choose from,
it's important to be selective about who you learn forex from.

The vast majority of forex "training" content out there is junk.
From overpriced internet marketeer forex software programs, to
non-working EA/robots, to incompetent training, it's even worse
than the training that's out there for stock and options traders.

RECOMMENDED FOREX RESOURCES: The "Short" Forex Success List

Peter Bain - ForexMentor.com
Peter and his team are well-recognized as the top forex training
resources online, with extensive courses, training and more. I've
known Peter for years, have reviewed his content, seen him speak
at expos and highly recommend him.

Kathy Lien & Boris Schlossberg - BKForexAdvisors.com
Kathy's expo talks always have hundreds of people in attendance,
she's an authentic expert (with great books she's published) and
an exceptionally bright, knowledgeable forex expert. With her
colleague Boris Schlossberg, they help forex traders with their
resources and are also highly recommended.

Steve Nison - Candlecharts.com
Steve's been a longtime colleague of mine and his course on
using candlestick charts with forex is outstanding, and also
highly recommended as part of your trading arsenal.

Ken Calhoun - ForexFirepower.com
My introductory DVD plus 3 practical "how to" forex webinar package
has been popular with forex traders worldwide, as well (and I'm
a Forex expo speaker and published industry expert in TASC).

That's it. I highly recommend you learn from these resources
when it comes to forex, and study, practice and learn using
papertrading/micro lot entries & exits to fine tune your trading
skills.


FOREX: Who to AVOID --

Slick websites from internet marketers-pretending-to-trade who
have affiliates send out tons of emails to hustle the marketplace,
pitching overpriced stuff that doesn't work and rips people off.
(fact: they even have contests among themselves to give away prizes
to see who "hustles" the most sales from their lists - ugh).

NEVER spend a lot of money with an unknown trading person's
materials, unless they've PROVEN themselves valuable, with
lower-priced content first. Do their fr.ee videos teach you HOW
to trade anything? (or are they just pre-launch 'hype' videos?).

Do they have books or other resources available (like youtube
no-cost videos) that demonstrate the value of what they have to
offer, so you can 'try before you buy', by seeing their strategies?

Do their techniques show you how to trade, at minimal cost?
Or do they go for a whopping over-$1000 money grab to take your
hard earned dollars? Steer clear.


WHY SOFTWARE AND CHATROOMS DON'T WORK

Some people think that "outsourcing" their trading to buying
software (or alerts, or chatrooms) is how to shortcut their
way to trading success. NOTHING could be further from the truth.

Trading is difficult, it's a skill that takes years to learn,
most people never make it, and no software nor chatroom will
enrich anyone other than the people hawking it. "Sell the shovels"
to unsuspecting traders is the mantra of most vendors. Boo.

So, "start small" when it comes to learning from anyone. First,
be a skeptic, and see if their educational content is:

a) rehashed newbie basic bs that doesn't work
b) copycat content that's been derived from genuine experts
c) straight out "hustle" con job stuff like magic software or
other 'get rich quick' trading schemes

OR, are they genuine experts with credibility? Give preference
to those of us who meet this criteria, at a minimum:

a) They've published books and/or trading magazine articles
b) Well-respected from within the professional trading community
c) Have spoken at expos and are well-regarded
d) Can show video testimonials from traders they've helped

AND... finally, are they a good fit for you personally, and
can help you get from where you're at, to helping you achieve
your trading goals?

Things to think about.

__________________
Good trading,

Ken Calhoun, Pres.
http://www.TradeMastery.com (NEW for 2012)
http://www.BreakoutMastery.com
http://www.MomentumDoubler.com
http://www.TradeWebinars.com
http://www.ETFMastery.com
http://www.ADXMastery.com
http://www.ChartScans.com (daily alerts)
http://www.DaytradingUniversity.com
http://www.TradingTelevision.com
http://www.StockTradingSuccess.com (w/Steve Nison)

p.s. per sec/cftc/ftc regs, none of this is to be construed as trading recommendations, it's just for educational use only, so you can "peek over my shoulder" to see what I'm doing with some of my trades. See www.daytradingu.com/disclaim.htm for full disclaimer.
These pages contain excerpts of actual trades I've made; it's not a complete record of every single trade I make. Some days I'll take trading wins or losses that I do not take the time to screencap and post online; it's a partial record of some of my trades. Note that I am not making income nor profitability claims of any kind. Most traders lose regardless of what they do. The majority of my personal income comes from my training business. I try to capture the best highlights of successful days so you can see practical examples of what I'm trading. There are also days in which I incur losses (and wins) which are not shown. This is simply a partial record showing highlights of some of my successful trading days. No representation is being made that other traders, including customers, will be able to trade like I do. Generally expected (average/typical) trader results are that all traders incur trading losses and most do not become profitable, regardless of the training they get. Trading is a speculative, high-risk activity.

Thank you for all your expertise and advice about forex formula: as someone new to forex, I am overwhelmed by the intense amount of learning ahead ; this was a certainly a helpful start !!