An Interview with ForeX Masters

ForeX Masters is a service offering courses and support for people learning to be traders. They provide trading knowledge and skills meant to translate into successful trading. After sharing their knowledge through courses, they monitor new traders' performance and how they are applying what they have learned. Learn more at http://www.fxmasters.co.uk/.

1. How did ForeX Masters get started?

ForeX Masters started as a complimentary service that we were offering to some of our alternative fund investors. Some of them had experience trading their own stock and commodities account and wanted to learn more about Forex market and how our fund strategy was delivering hedge alpha.

Before we knew it, we had more people being referred to us via our brokers and clients, and decide it would be a good and fun opportunity to deliver in-depth forex education. This also serves as a tool for our expansion plan while recruiting and growing talent.

2. What are the main differences between the three Forex courses that you offer?

We understood based on our own experience and the feedback of our clients that people have different needs. These needs can be based on their lifestyle, life stage, and financial goal. Some are doing trading for fun, while others do it as a mean to earn extra money. Still others simply do it as a means to build a long-term retail trader career. In some cases, I have seen people transiting from stock and indices for career purposes. Not many big institutions offer an in depth trading course but expect their traders to have acquired that knowledge. Therefore, we thought it necessary to design different courses with the aim of filling business needs in mind while always providing a solid base.

3. How have your courses helped people with their ability to trade either part-time or full-time; in other words, what are some of the key skills that you teach?

We have had a great success to date with every student that manages to complete their chosen program while respecting and following our methodology. Till today we have some our student testimony that can be seen below as successful examples, and for those that still struggle we do operate a open door policy, where the can get in touch with any of our coaches for a free refresher session.

I actually had a student contacting me in October last year almost 18 months after completing his program; he told me he needed help, and I spent two months coaching him after we met for a coffee. Sometimes people lose interest and drive, and as with mastering any skill in life, successful trading take requires time and having the right attitude is key.

Students usually come out with a deep understanding of technical and fundamental analysis but more importantly the importance and impact of countries' economies, and central bank policies on currencies exchange. And another important lesson is the correlation between currencies and commodities. Something I always assure my students is that by the end of one of our program, your view on the world will drastically change while at the same time your understanding of it will help you have a more fulfilling life.

4. Are there any misconceptions that you commonly see people having about trading?

Misconceptions associated with Forex trading are always the same with the financial trading industry and investing: people believing it's a scam or that huge amounts of money are required to invest or simply that the markets are rigged so that only the wealthy would profit.

Contrary to stock and indices, for example, there's no one entity that can control the outcome of a trading session. With the Forex market it's a fragmented and decentralised market where all parties need each other and the biggest players do need the smallest to a certain extent. Anyone can profit from this market if they put the time and effort into learning. Even the best traders and funds do lose money at times; the secret is to stick to risk management and build consistency.

Another misconception is that it's impossible to make an income from trading, which is totally untrue. People can indeed make a living from trading but once again this requires knowledge time and discipline

5. For people who have always wanted to get into trading, what makes Forex a good option compared to other ways of investing?

The Forex market offer a unique way for individuals to invest and trade 24 hours a day. The information needed to make informed trading decision is widely available on most brokers' platforms and specialist websites for free.

Thanks!