Forex trading college- any experiences?

ljohns

I really want to be proved wrong on this but will welcome any personal experiences. My husband has signed up, by "signed up"I mean paid £1000, to do a virtual course with the end game of being able to have a side hustle in trading. We have no experience of this and from briefly talking about it with him and looking at the website I'm not filled with confidence. Aside from money, he's investing a lot of time into this and is utterly convinced it's a wise move. I on the other hand think it sounds basically like gambling but reworded to sound more attractive and marketable. 
https://www.tradingcollege.co.uk/
I would love to be educated by anybody who has first hand experience- positive or negative. 

Bradden

Could you share details of the course? Is it for "day trading"?

ljohns

Sorry- I intended to include that!
https://www.tradingcollege.co.uk/

Bradden

Looks like a waste iof money to me... they claim to have been featured opn BBC etc .. but not where.. could be Rogue Traders :-) 

I just tried the live chat.... it's not live.. they just say they will email you back... says enough for me.

Millyonare

Google reviews look, err, interesting.

Skillshare (unconnected to the above) is well-known and has loads of free or cheap online courses for forex trading (example). This may be a cheaper place to start.

Dyor, etc. This is not a recommendation. Just for discussion.

adindas

ljohns said:

I really want to be proved wrong on this but will welcome any personal experiences. My husband has signed up, by "signed up"I mean paid £1000, to do a virtual course with the end game of being able to have a side hustle in trading. He has NO experience of this and from briefly talking about it with him and looking at the website I'm not filled with confidence. Aside from money, he's investing a lot of time into this and is utterly convinces it's a wise move. I on the other hand think it sounds basically like gambling but reworded to sound more attractive and marketable. 
https://www.tradingcollege.co.uk/
I would love to be educated by anybody who has first hand experience- positive or negative. 

I have not heard about trading college.co.uk so it is unfair to comment it. But you might need to be aware of many teaching materials are available for free on you tube. If you could get it for free especially if you are not sure whether you could benefit from it, why pay ?

Any trading whether Forex, Stocks, Future, Commodities, Cryptos have the same principles, it is only that It needs adaptation. Also some are riskier than others but might also be more profitable. Forex and Cryptos are well known to be very risky.

I am not a high frequency trader but I  do some trading, and I learn most of them free of charge from a reputable sources. The trading education is normally provided by the stockbrokers, trading Platforms. A few to name:

From IG: https://www.youtube.com/IGcom/playlists

From Trading  212: https://www.youtube.com/Trading212/videos Trading 212

From pepperstone   https://www.youtube.com/c/Pepperstone/playlists

Use the authoritative sources especially if they are available for free. There are many of them if you search it. But also be aware, there are a lot of scammers outthere.

Also, learning trading will need a lot of time dedication. Many people start learning it by using a paper account, and watch how a person performs, so you will see when you are already to sail.

Malthusian

ljohns said:

I on the other hand think it sounds basically like gambling but reworded to sound more attractive and marketable. 

You are correct. Any money he invests into this is likely to be lost (like the £1,000).
He is now probably on a sucker's list and will be targeted by more get-rich-quick schemes in the future.
You are unlikely to find many people with first-hand experience as people who lose their money on gambling tend not to hang around Savings and Investment forums. But it's a mathematical fact that the most likely outcome of gambling on numbers on a screen is to lose money. The expected return of any forex bet is zero minus trading costs.

ljohns

This is all very honest and helpful, thank you. 

k6chris

If you get some time, have a read of this paper https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2711214

FX trading is a negative sum game, and every trade will have a cost. One question to ask your hsuband is what his objectives are and when he will stop.  If the plan is never to stop trading then he will lose his money. 

jessethome

Used to be great. But theyve laid off the best coaches and Lee Sandford is pretty aggressive and insulting if he doesnt like some feedback. Their BOT is not "A.I" and they are marketing like Greg Secker would. Attached is my last communication with them...

mebu60

He's down £1k already!