If you have been paying any attention to the Forex trading world, especially the regulations in the EU, then you are aware of the recent ESMA limits imposed upon brokers and traders. The limitations and regulations are wide and cover a lot of things, but the most obvious effect is the introduction of the concept of Professional Traders into the Forex world.
According to the regulation, only Professional brokers are allowed to trade with large margins. So how does one become a professional broker? Well, there are a whole lot of brokers out there, but they all have a very standard set of standards. Usually, these standards are either about past experience or a certain amount of capital being available to you. But what about an average person who has not had the opportunity to work for a hedge fund or has had access to hundreds of thousands of dollars?
Education is Key
There are many out there who believe that one of the best ways to go about qualifying as a professional trader is to get educated. Honestly, this is one of the best solutions out there. There are many resources out there, open to any newcomers, that might be able to assist them in getting to know the industry better. After all, Forex trading is a lot more complicated than many people give it credit for.
In the past, there were many brokers who had assumed that education resources had been nothing but a marketing tool. A way to attract interested parties and get them to stick with the company, get them to trade. Actual education was rarely provided by these brokers, which is a big shame. It was still better than nothing. With the new standards though, this has changed and there are some brokers out there who have decided to start taking education a lot more seriously.
After all, being educated in the field and knowing how and when to act is what professional traders do. While they may have learned how to do those things through pure experience, education, studying and hard work just as good in many cases. Which is why we would like to encourage all traders who wish to trade professionally, to start educating themselves. With the correct skills and knowledge, you will be able to gather enough capital and enough experience in the trading world to qualify as a professional trader with any broker and company.
ECS education and seminars
But where does a beginner or even a long time trader go to receive such education? There are many resources out there, but some of the best resources are free. My project, Elite CurrenSea or ECS, is an educational company that has created a goal for itself: educate and equip the traders around the world with actionable tools to give them an equal opportunity on the market. We have partnered up with a broker - XM, to provide seminars to anyone interested, for free, about trading concepts to proceed either as a self-sufficient market participant or use our help in navigating through the market.
These seminars are held in person and are starting soon. Both Chris and I will be speaking at the seminars for over 4 hours offering a prospective into our award-winning trading methods revolving around momentum and swing trading. The European leg of seminars are being held in the very near future, in several locations across Europe:
Utrecht - February 16th
Prague - March 9th
Zagreb - March 14
Belgrade - March 16
Hungary - Q2-Q3
Portugal - Q2-Q3
For those who are unable to attend the seminars in person, a live stream will be held online via Elite CurrenSea facebook page. This live stream will be open to anyone interested and be free. These are the starting stages for the educational programs, according to ECS, and they intend to keep going and providing those interested with more resources and knowledge in the future.
Programs such as these are designed to create positive, educational environments for traders of all levels. They encourage professional development and will result in an increase in the number of professional Forex traders in the near future. This is a great initiative of ECS’s side and we look forward to hearing more from them.
Elite CurrenSea Training Program(s) should not be treated as a recommendation or a suggestion to buy or sell any security or the suitability of any investment strategy for Student. The purchase, sale, or advice regarding any security, other financial instrument or system can only be performed by a licensed Industry representative; such as, but not limited to a Broker/Dealer, Introducing Broker, FCM and/or Registered Investment Advisor. Neither Elite CurrenSea nor its representatives are licensed to make such advisements. Electronic active trading (trading) may put your capital at risk, hence all trading decisions are made at your own risk. Furthermore, trading may also involve a high volume & frequency of trading activity. Each trade generates a commission and the total daily commission on such a high volume of trading can be considerable. Trading accounts should be considered speculative in nature with the objective being to generate short-term profits. This activity may result in the loss of more than 100% of an investment, which is the sole responsibility of the client. Any trader should realise the operation of a margin account under various market conditions and review his or her investment objectives, financial resources and risk tolerances to determine whether margin trading is appropriate for them. The increased leverage which margin provides may heighten risk substantially, including the risk of loss in excess of 100% of an investment.