LONDON, Nov. 24, 2014 /PRNewswire/ -- Novice forex retailer traders who sign-up for educational courses claiming to share the 'Holy Grail' trading system are likely to become victims of online money-making schemes. That's according to Jarratt Davis, the UK's most reputable forex trader and educator.
Known as the creator of one of the most popular forex education courses in the world, Jarratt Davis - ranked as the second best performing forex trader in the world by Barclay Currency Trading Index - believes that the forex education market is saturated with online programmes and courses that claim to have the perfect trading system to make consistent profits from the currency markets.
Having witnessed these kinds of courses become more popular in the last five years, he asserts that they only exist to make a profit at the expense of novice traders' curiosity and excitement to learn. What they lack is the capacity to teach the skill-base necessary to establish a career in forex. Instead, they focus on gimmicks and dangerous 'quick-win' trading strategies.
"Embarking on a professional career is a very exciting time for the majority of people. I've seen many novice retail traders start their journey with real enthusiasm and willingness to absorb information, which often leads to them signing-up for a variety of online courses," explains Jarratt Davis.
"When someone decided to learn a new skill, there's a natural burst of excitement and a readiness to make fast progress. This is certainly the case with novice forex traders, who tend to be very enthusiastic. This willingness to learn often leads to these traders signing-up for a number of different educational courses," explains Jarratt Davis.
"This can become a problem because the forex education market is dominated by money-making scams which contain unreliable information. These courses often promise to share a 'Holy Grail' trading system, but the truth is no such system exists. What's more, the creators of these courses make a lot of money from monthly subscriptions, which is something that really bothers me as an educator.
"At the start of my forex career, I had to invest a large amount of time into experimenting with trading methodologies that promised to deliver perfect results. I soon realised that there was no 'Holy Grail' system, and that I would have to develop my own strategies."
Jarratt Davis has a reputation within the forex industry as being an innovator in education. He has recently released a free four hour online video series to help retail traders become profitable. The topics explored within these videos include the key components of his trading methodology, along with the common mistakes novice traders are likely to make in their early years of trading.
Also discussed within the video series are the three major concepts that Jarratt Davis has judged to be integral to the future success of any forex trader. These are: understanding fundamental analysis, risk management and trading psychology.
The strategies outlined in the free educational video series are ones that Jarratt has developed throughout his years of trading. It's these techniques that have earned him positions at respected financial institutions, including his current post as head of forex at a global investment firm. They have also led Jarratt Davis to beat the stock market annually since he started trading in 2008.
"Becoming a successful trader doesn't happen overnight, and I've got the scar tissue to prove it. Essentially, the best traders are those individuals who have ingrained good habits into their way of working over a period of time. During my time teaching students, I've witnessed many beginners develop bad habits at the start of their forex careers. The goal of my free educational video course is to help traders identify their bad habits, while helping them develop the good ones," adds Jarratt Davis.
"My videos also draw attention to the importance of managing emotions and feelings in a live trading environment. Every trader experiences bouts of doubt and anxiety. It's the individual's ability to manage these feelings that often determines their success. There's some practical advice within my videos to help traders remove emotion from the decision making process."
To date, thousands of people have registered to receive Jarratt Davis' educational resources in the hope that they can push their trading to an institutional level.
"I'm extremely grateful to be in a position where I can share my expertise with so many aspiring traders. I think people are starting to realise that being a successful forex trader can change your life and give you a level of freedom that most other careers don't allow," adds Jarratt Davis.
"My hope is that this free educational video series will give people the confidence to stick with forex trading for the long-term and approach it as a profession. It can be hard to know where to start for novice retail traders - but with my video series, they can rest assured that they're getting the very best advice and training."
Those who wish to subscribe to view the free educational video series should visit JarrattDavis.com and submit their name and email address.