More people around the globe (especially in the CIS and other emerging economies) are getting increasingly interested in Forex. Most of them are young people. Not so long ago, a university located in Kazakhstan opened a course in Forex, which sound like an unprecedented decision!
Can higher education institutions teach you how to trade Forex successfully and make decent profits in the long run? Well, let's ponder on this question together with the trading experts working for Masterforex-V Academy.
In early December 2013, Moscow hosted another forum of young financiers. Among the guests of the forum you could find the representatives of various foreing institutions. The hosts of the event also managed to conduct an online conference with the representative of Al-Farabi Kazakh National University. The university introduced the audience to a new and unprecedented project – the trading center for students and aspirants.
The center is designed to increase the level of financial literacy among the youth and to teach them how to manage investment portfolios and to trade financial markets.
Now let's look ask professional traders what they think on the matter.
Without going much into detail, Market Leader interviewed several most prominent trading experts working for Masterforex-V Academy. This is what they think:
The university's experiment will eventual fail, here is no doubt about it. On top of that, the university may eventually harm its overall image as a serious and respected educational institution.
By the way, this is not such an unprecedented even as one might think. A similar try took place in 2008 in Romania at one of the major universities in the country. A professor conducted a course on Forex trading. Without any doubt, this was a hit and the halls were overcrowded with those who wanted to start making money trading Forex.
The course last for several months. One of the existing students of Masterforex-V Academy visited this course. He told us that the course was truly awful since the mentor confused bullish and bearish candles, support and resistance levels. In other words, he didn't have a solid knowledge base himself. When this member of Masterforex-V Academy tried to correct him, the professor invited him to his office during a break, told him he had passed the test automatically and asked him never to come to his lectures again.
They his fellow students told him that the rest of the course was dedicated to the macroeconomic staff related to the USA, the EU, the UK and other countries issuing major currencies. The only thing they remembered from technical analysis was Stochastic.
By now, you have probably guessed what happened next. The professor recommended the students to open live trading accounts with some shady broking company (by the way, it belongs to the minor (3d) league of Masterforex-V Academy’s rating of Forex brokers , which means these brokers should never be considered seriously when choosing a reliable and fair broker). Well, the next thin is… ALL the students lost all their investments!!! The professor explained that some of the top management of the university became an IB of this broker and made decent profits by attracting amateur traders without the experience, knowledge and skills required to trade Forex professionally and profitably.
The thing is that those professors are not trading experts. They know math, economics and other related stuff. But they cannot actually teach you how to dominate the market or to follow the smart money. Therefore, any university course on Forex trading can give you only some fundamentals at best. By the way, you can learn these fundamentals much quicker, easier and FOR FREE at the school for traders and investors under Masterforex-V Academy. The local mentors are the real trading experts with years of experience and decent skills. So, they can really teach you the fundamentals (at first) and so much more when it comes to profitable Forex trading.
