If you're looking for a currency trading tutorial then you're going to have a very wide choice. The business of selling these tutorials is growing nearly as fast as the business of actually trading international currencies itself.
This is rather bad news for the aspiring currency trader. Why should more and more people be putting up web sites selling tutorials, systems, software, videos, ebooks and so on, in fact anything to do with currency trading? Why don't they just get on with trading currencies and making the fabulous profits they claim you can make if you just buy their own particular tutorial or whatever?
The truth is that they can make more money, without the risk of disastrous losses, by selling their tutorials than they can by actually trading currencies. Many of the people selling tutorials are actually affiliates who have no special interest in or knowledge of the currency markets. They are just there to sell the product.
Even the people who write, or create, the tutorials usually don't actually trade themselves. This aspect of currency trading is just one of a number of disturbing trends that have become more established with the spread of the internet.
Part of the reason lies in the fact that, to an outsider, making profits from trading currencies *looks* so easy. When you study the chart of a currency pairing and see the ups and downs you can usually make out patterns that repeat themselves from time to time. You can then get fooled into thinking that if you had been trading that currency pairing at the time then you would have been able to see what was going on and make a profit from it.
Tutorials are usually liberally sprinkled with examples from actual trading charts to illustrate what the writer means. Anyone can do this. It doesn't mean the system being illustrated actually works. You can have any half-baked method and find a chart pattern from the recent past to illustrate that it would have worked successfully, if you look hard enough.
Some currency trading "experts" don't even bother to do that. They simply get hold of some resale rights products on currency trading written by professional writers who themselves probably don't know much about the subject, and mix them up with a few excerpts from free ebooks you can find on the internet to create their own "tutorial" on how to make a fortune trading the currency markets.
It doesn't cost too much to get a copywriter to write a convincing sales letter, a web designer to create an attractive web page, and a graphics artist to create some stunning graphics, and you're in business selling currency trading tutorials.
I'm not saying all tutorials on this subject are phoney like this. There are a tiny few that are written honestly and with a genuine wish to help new traders. This article is here to warn you of the danger of coming across one of the thousands of phoney tutorials.
The best way to avoid falling victim to one of these scams is to find someone who actually trades the financial markets himself and who is prepared to teach you his methods. You'll find that such a person doesn't trade currencies nearly as often as he trades such things as shares, bonds, indices and commodities. It's not as glamorous as trading currencies exclusively, but it has the advantage of being far easier to make good profits from.
Philip Gegan is a retired UK lawyer who has studied the financial markets since 1991, and actually trades them for profit. You too can make profits such as 70% in less than a week on gold at www.onlinefinancialtrading.com
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