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:
held in:
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.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
Editors’ Picks
EUR/USD looks offered below 1.1900
EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.
GBP/USD slips back to daily lows near 1.3640
GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.
USD/JPY drops toward 155.00 as focus shifts to US data
USD/JPY meets fresh supply and inches closer toward 155.00 in the Asian session on Tuesday. The Japanese Yen holds the upper hand over the US Dollar after Japanese Prime Minister Sanae Takaichi led the ruling Liberal Democratic Party to a historic landslide win and on intervention talks. Traders brace for key US economic data that could offer more clues on the Federal Reserve's monetary policy.
Editors’ Picks
AUD/USD meets initial resistance around 0.7100
A decent rebound in the US Dollar is behind the AUD/USD’s daily pullback on Tuesday. In fact, the pair comes under modest downside pressure soon after hitting fresh yearly peaks in levels just shy of 0.7100 the figure on Monday. Moving forward, investors are expected to closely follow the release of Chinese inflation data on Wednesday.
EUR/USD looks offered below 1.1900
EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.
Gold the battle of wills continues with bulls not ready to give up
Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.
Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute
Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.
Dollar drops and stocks rally: The week of reckoning for US economic data
Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.
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