An investor shared this experience of attending a foreign exchange training course. He paid $5,000 for a 3 day training course. The course could have been completed in half the time, but was stretched for 3 days to justify the high fee. He found the training techniques taught at the course to be not successful.
He later obtained a training DVD from another source, for free. It teaches him how to trade using candlesticks. He found this to be more useful.
He later obtained a training DVD from another source, for free. It teaches him how to trade using candlesticks. He found this to be more useful.
I'm sympathetic to this investor who paid out $5,000.
ReplyDeleteAs I mentioned elsewhere, the key is what was he paying $5,000 for?
For clarity, try substituting the word FOREX Trading with the word "TV".
a)a course in FOREX trading (TV)?
If yes, then how to define the quality of the service?
b)were additional promises made? e.g. you will be a successful trader?
If yes, then what is the definition of success?
Successful in 1 year's time? 10 year's time?
Is making $100 profit after 6 months a definition of success?
c)Did consumer follow the instructions manual correctly?
There are probably a whole bunch of other questions that should have been asked before handing over the money.
There is a story surrounding the Alaskan Gold Rush around the 1900s.
Very few miners struck it rich. The surest way to get rich was to be a provision shop owner. Selling the equipment to the miners.
Just as today, the surest way to get rich from forex is to supply forex training courses.
http://en.wikipedia.org/wiki/Klondike_Gold_Rush